South Korea | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Growth Rate 0.60 0.6 0.7 0.7 0.6 1 percent [+]
Unemployment Rate 3.70 3.8 3.9 3.8 3.7 4.3 percent [+]
Inflation Rate 1.30 1.4 1.1 1.2 1.5 2.8 percent [+]
Interest Rate 1.25 1.25 1 1 1 3 percent [+]
Balance of Trade 7992.05 7822 7278 7416 7377 17300 USD Million [+]
Government Debt to GDP 35.12 37 39 39 39 38.26 percent [+]
MARKETS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Currency 1168.37 1190 1202 1213 1225 1414 [+]
Stock Market 1991.66 1960 1940 1920 1900 1590 points [+]
Government Bond 10Y 2.19 2.12 2.14 2.16 2.18 2.52 percent [+]
GDP Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Growth Rate 0.60 0.6 0.7 0.7 0.6 1 percent [+]
GDP Annual Growth Rate 2.60 2.7 2.8 3.1 2.9 3 percent [+]
GDP 1377.87 1430 1472 1472 1472 1602 USD Billion [+]
GDP Constant Prices 377952.40 380220 382882 385562 387875 431903 KRW Billion [+]
Gross National Product 390475.10 410000 391000 402000 404000 475000 KRW Billion [+]
Gross Fixed Capital Formation 114705.70 113000 114000 117000 116000 134000 KRW Billion [+]
GDP per capita 25022.80 25717 25878 26039 26200 28216 USD [+]
GDP per capita PPP 34386.57 35034 35874 35873 35870 38201 USD [+]
GDP From Agriculture 6940.30 6950 7460 6920 6800 7108 KRW Billion [+]
GDP From Construction 16588.10 16400 17000 19020 17200 20000 KRW Billion [+]
GDP From Manufacturing 105156.60 107200 107080 108700 107800 115900 KRW Billion [+]
GDP From Mining 624.30 580 596 597 617 648 KRW Billion [+]
GDP From Public Administration 22981.70 23102 23282 23379 23662 25514 KRW Billion [+]
GDP From Services 202862.20 211061 216700 222500 228300 327801 [+]
GDP From Transport 12855.70 13000 13100 13080 13250 14300 KRW Billion [+]
GDP From Utilities 7913.10 7970 7770 7850 8200 8886 KRW Billion [+]
LABOUR Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Unemployment Rate 3.70 3.8 3.9 3.8 3.7 4.3 percent [+]
Employed Persons 26316.00 26420 26303 26100 26432 28700 Thousand [+]
Unemployed Persons 1021.00 1008 1070 1057 1110 1280 Thousand [+]
Labor Force Participation Rate 63.20 62 62.3 63.3 63 62 percent [+]
Labour Costs 123.30 123 131 131 137 126 Index Points [+]
Productivity 96.40 97.3 97.2 96.3 95.2 97.3 Index Points [+]
Wages 3220531.00 3490000 3627450 3340000 3560000 4110000 KRW/Month [+]
Wages in Manufacturing 3435462.00 3840000 4090000 3557402 3860000 4400000 KRW/Month [+]
Minimum Wages 6030.00 6030 6300 6300 6300 6900 KRW/Hour [+]
Population 50.60 50.79 50.84 50.89 50.94 51.59 Million [+]
Retirement Age Women 55.00 60 60 60 60 60 [+]
Retirement Age Men 55.00 60 60 60 60 60 [+]
Youth Unemployment Rate 8.50 8.2 11 11 9.04 8.4 percent [+]
Employment Rate 96.60 96.59 96.51 96.55 96.53 96.53 percent [+]
PRICES Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Inflation Rate 1.30 1.4 1.1 1.2 1.5 2.8 percent [+]
Inflation Rate Mom -0.10 0.3 0.1 0.1 0.07 0.2 percent [+]
Consumer Price Index CPI 111.35 111 112 112 112 115 Index Points [+]
Core Consumer Prices 113.24 113 114 114 114 119 Index Points [+]
Core Inflation Rate 1.40 2.1 2.3 2.3 1.02 3.2 percent [+]
GDP Deflator 107.79 105 107 107 111 109 Index Points [+]
Producer Prices 99.45 100 100 100 98.88 103 Index Points [+]
Producer Prices Change -0.20 0.5 0.3 0.7 0.9 1.9 percent [+]
Export Prices 80.53 81 81.5 82 82.8 93 Index Points [+]
Import Prices 77.87 77.3 78.1 78.9 79.5 87.4 Index Points [+]
Food Inflation 4.50 5.8 4.1 3.9 4.1 2.9 percent [+]
Cpi Transportation 98.57 98.76 98.79 98.82 98.82 98.82 Index Points [+]
MONEY Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Interest Rate 1.25 1.25 1 1 1 3 percent [+]
Interbank Rate 1.58 1.1 1.1 1.1 1.1 3 percent [+]
Money Supply M0 84090300.00 86037640 88496469 90898338 93284437 122678218 KRW Million [+]
Money Supply M1 750806.60 764000 778000 808000 815000 1160000 KRW Billion [+]
Money Supply M2 2385107.20 2400000 2470000 2490000 2520000 3180000 KRW Billion [+]
Money Supply M3 3305297.10 3360000 3390000 3450000 3520000 4750000 KRW Billion [+]
Foreign Exchange Reserves 371990.00 378000 382000 383000 384000 411000 USD Million [+]
Loans to Private Sector 7573271.00 7625755 7650000 7690000 7780000 9320000 KRW Hundred Million [+]
Deposit Interest Rate 1.80 1.2 1 1 1 3.5 percent [+]
Private Debt To Gdp 255.78 257 258 259 260 263 percent [+]
Central Bank Balance Sheet 474417.50 483000 478000 477000 494000 536000 KRW Billion [+]
TRADE Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Balance of Trade 7992.05 7822 7278 7416 7377 17300 USD Million [+]
Exports 45480.75 45200 42300 42300 43345 50800 USD Million [+]
Imports 37488.70 38500 38500 38500 37303 49000 USD Million [+]
Current Account 8719.30 7900 7900 7900 7900 9010 USD Million [+]
Current Account to GDP 7.70 8 7.2 7.2 6.68 6.2 percent [+]
External Debt 400400.00 404693 392000 395000 405000 461000 USD Million [+]
Terms of Trade 103.40 105 104 104 104 106 Index Points [+]
Foreign Direct Investment 449500.00 7940000 5520000 5520000 1504492 9040000 USD Thousand [+]
Capital Flows 10643.80 -7840 4840 4840 8820 -14800 USD Million [+]
Tourism Revenues 1317.10 1812 1874 1903 2100 3710 USD Million [+]
Tourist Arrivals 1587797.00 1810000 1600000 1810000 2100000 2890000 [+]
Gold Reserves 104.40 104 104 104 104 104 Tonnes [+]
Terrorism Index 0.23 0.1 0.1 0.1 0.2 0.42 [+]
Weapons Sales 105.00 191 180 170 170 260 USD Million [+]
GOVERNMENT Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Government Debt to GDP 35.12 37 39 39 39 38.26 percent [+]
Government Budget -3.00 -3.2 -3.5 -3.5 -3.5 -3.2 percent of GDP [+]
Government Budget Value 8186.00 -4790 -5550 -12785 4605 -4300 KRW Billion [+]
Government Spending 55591.10 55981 56441 56858 57304 62891 KRW Billion [+]
Government Revenues 286369.00 346000 87500 87500 184518 396000 KRW Billion [+]
Fiscal Expenditure 278183.00 3410000 125000 125000 189004 396000 KRW Billion [+]
Military Expenditure 38639.60 38928 39292 39656 39880 43114 USD Million [+]
Asylum Applications 482.00 790 450 520 540 950 Persons [+]
Government Spending To Gdp 32.00 31.7 31.72 31.73 31.75 31.85 percent [+]
BUSINESS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Business Confidence 72.00 72 74 76 75 83 [+]
Manufacturing PMI 48.00 48.2 49.9 50.1 50 50.9 [+]
Industrial Production -1.60 2.1 1.46 2.2 3 2.5 percent [+]
Industrial Production Mom -1.70 0.8 0.8 1 0.34 1.7 percent [+]
Manufacturing Production -1.60 0.97 0.58 0.76 1.17 1.1 percent [+]
Capacity Utilization 112.30 113 113 113 113 116 Index Points [+]
New Orders 3841028.00 3412632 4619103 4919647 4890000 5110000 KRW Million [+]
Changes in Inventories -2961.40 -1717 1671 -1831 -4200 5030 KRW Billion [+]
Bankruptcies 54.00 40 41 43 40 58 Companies [+]
Car Registrations 120322.00 134885 119147 153209 135000 155000 Cars [+]
Leading Economic Index 127.30 128 129 130 130 146 Index Points [+]
Steel Production 5961.32 5820 5680 5520 5800 6310 Thousand Tonnes [+]
Mining Production -6.90 -4.7 2.1 6.2 2.8 4.7 percent [+]
Cement Production 4727.00 5030 5190 5890 5190 5310 Thousands of Tonnes [+]
Coincident Index 122.40 123 123 124 124 129 Index Points [+]
Competitiveness Index 5.03 4.98 4.98 5.05 5.05 5.3 Points [+]
Competitiveness Rank 26.00 25 25 25 25 21 [+]
Ease of Doing Business 5.00 5 4 4 4 3 [+]
Electricity Production 22764.41 22127 23031 22514 26100 23000 Gigawatt-hour [+]
Corruption Index 56.00 58 60 60 60 68 Points [+]
Corruption Rank 37.00 35 34 34 34 30 [+]
CONSUMER Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Consumer Confidence 95.80 99 101 102 101 103 [+]
Retail Sales MoM 5.20 0.07 -1 -2.2 0.9 0.9 percent [+]
Retail Sales YoY 2.30 4 3.8 3.3 1.9 6 percent [+]
Consumer Spending 181779.20 184000 183000 184000 186000 204000 KRW Billion [+]
Disposable Personal Income 1560594.10 1630735 1646823 1662911 1679000 1883369 KRW Billion [+]
Personal Savings 8.90 9.2 9 9 9 11.4 percent [+]
Consumer Credit 1295753.10 1339377 1366824 1403806 1434143 1806580 KRW Billion [+]
Bank Lending Rate 3.27 3.3 3.34 3.4 3.4 3.7 percent [+]
Gasoline Prices 1.21 1.29 1.29 1.28 1.27 1.1 USD/Liter [+]
Households Debt To Gdp 88.80 90.36 90.69 91.01 91.25 92.52 percent of GDP [+]
HOUSING Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Housing Index 101.00 101 101 101 102 104 Index points [+]
Construction Orders 7178875.00 5030000 5280000 6980000 8600000 6830000 KRW Million [+]
Construction Output 17.30 11.7 8.5 6.9 8.7 3.9 percent [+]
Home Ownership Rate 53.60 53.9 54.4 54.4 54.4 55.8 percent [+]
TAXES Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Corporate Tax Rate 24.20 24.2 24.2 24.2 24.2 24.2 percent [+]
Personal Income Tax Rate 38.00 38 38 38 38 38 percent [+]
Sales Tax Rate 10.00 10 10 10 10 10 percent [+]
Social Security Rate 16.76 16.8 16.8 16.8 16.76 17.6 percent [+]
Social Security Rate For Companies 8.40 8.4 8.4 8.4 8.4 8.8 percent [+]
Social Security Rate For Employees 8.40 8.4 8.4 8.4 8.4 8.8 percent [+]





Economic Forecasts for South Korea including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the South Korea economy. 12/6/2016