South Korea GDP Growth Rate

Last Release

Mar 31, 2025

Actual

-0.2

Units In

0.1

Frequency

Quarterly

Next Release

Sep 02, 2025

Time to Release

2 Months 27 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
7.8 Dec 1970	-7 Mar 1998	1.66 %	1960-2025	The 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 economy contracted by 0.2% quarter-on-quarter in the first three months of 2025, ending two straight quarters of expansion, final data showed. On the expenditure front, private consumption dipped by 0.1%, as expenditures on goods, notably communication equipment, increased while expenditures on services, particularly in recreation, sport & culture, decreased. Government consumption remained at the same level from the previous quarter, as expenditures on health care benefits decreased while expenditures on goods increased. Construction investment fell by 3.1%, led by a decrease in building construction. Meanwhile, facilities investment dropped by 0.4%, primarily due to a decrease in machinery, including semiconductor manufacturing equipment. Exports fell by 0.6%, as exports of chemical products and machinery & equipment declined. Imports also dropped by 1.1%, as imports of energy items like crude oil and natural gas decreased.