South Korea GDP Growth Rate

Last Release
Sep 2019
Actual
0.4 %
Forecast
0.4 %
Previous
1 %
Frequency
Quarterly
Units In
%
Next Release
Dec 2, 2019
Time to Release
13 Days 12 Hours
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Highest
Lowest
Average
Date Range
Source
7.8 %
Dec 1970
-7 %
Mar 1998
1.78 %1960 - 2019The Bank of Korea
South Korea has an export oriented economy and is the world's leading producer of displays and memory semiconductors and the second largest producer of ships. Services account for the highest percentage of GDP (around 57 percent of GDP). Within services the most important ones are public administration (6 percent ); education (5.3 percent); information and communication (5 percent); and business activities (4.6 percent of GDP). A strong manufacturing industry which has turned South Korea into a major exporter accounts for 32 percent of GDP.

Latest Updates

South Korea’s quarterly GDP growth declined to 0.4 percent in the three months to September 2019 from 1.0 percent in the previous quarter, below market expectations of 0.5 percent. Softer growth was mainly explained by a slower rise in services and declines in utilities and construction. On the expenditure side, household consumption and government spending grew less while fixed investment shrank.

South Korea GDP Growth Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Oct 24, 201910:26South Korea Quarterly GDP Growth Below Consensus
Sep 3, 201911:13South Korea Q2 GDP Growth Revised Slightly Lower
Jul 25, 201908:30South Korea Q2 GDP Growth at Near 2-Year High
Jun 4, 201909:05South Korea Q1 GDP Falls More than Initially Estimated
Apr 25, 201910:44South Korea Economy Unexpectedly Shrinks in Q1

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South Korea gdp Indicators

All South Korea indicators
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Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
GDP
1,619.42
Dec 2018
1,530.75
Dec 2017
2.42
Dec 1961
1,619.42
Dec 2018
USD BillionYearly1960 - 2018
GDP Annual Growth Rate
2
Sep 2019
2
Jun 2019
-7.3
Jun 1998
20.8
Dec 1969
%Quarterly1961 - 2019
GDP Constant Prices
461,613.1
Sep 2019
459,813.4
Jun 2019
6,626.29
Mar 1960
461,613.1
Sep 2019
KRW BillionQuarterly1960 - 2019
GDP From Agriculture
8,287.5
Sep 2019
8,174.2
Jun 2019
1,627.32
Mar 1960
8,635.1
Dec 2014
KRW BillionQuarterly1960 - 2019
GDP From Construction
21,311.2
Sep 2019
22,202.1
Jun 2019
279.27
Dec 1960
23,837.4
Mar 2017
KRW BillionQuarterly1960 - 2019
GDP From Manufacturing
123,720
Sep 2019
121,116.7
Jun 2019
297.74
Jun 1960
123,853.9
Dec 2018
KRW BillionQuarterly1960 - 2019

GDP Growth Rate across Asia

GDP Growth Rate global view
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Country
Last
Previous
Min
Max
Unit
Frequency
Range
Bangladesh
7.9
Dec 2018
7.3
Dec 2017
4.08
Dec 1994
7.9
Dec 2018
%Yearly1994 - 2018
China
1.5
Sep 2019
1.6
Jun 2019
1.4
Mar 2016
2.4
Jun 2011
%Quarterly2010 - 2019
Hong Kong
-3.2
Sep 2019
-0.5
Jun 2019
-3.4
Mar 2009
6.1
Sep 2003
%Quarterly1990 - 2019
India
1
Jun 2019
1.3
Mar 2019
-1.8
Mar 2009
5.8
Jun 2009
%Quarterly1996 - 2019
Indonesia
3.06
Sep 2019
4.2
Jun 2019
-3.57
Dec 2008
4.21
Jun 2018
%Quarterly2005 - 2019
Japan
0.1
Sep 2019
0.4
Jun 2019
-4.8
Mar 2009
3.2
Jun 1990
%Quarterly1980 - 2019
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