South Korea GDP

The Gross Domestic Product (GDP) in South Korea was worth 1129.60 billion US dollars in 2012. The GDP value of South Korea represents 1.82 percent of the world economy. GDP in South Korea is reported by the The World Bank Group. From 1960 until 2012, South Korea GDP averaged 309.1 USD Billion reaching an all time high of 1129.6 USD Billion in December of 2012 and a record low of 2.4 USD Billion in December of 1961. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. This page provides - South Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1129.60 1114.47 1129.60 2.36 1159.86 | 2013/12 1960 - 2012 USD Billion Yearly

TO

South Korea GDP
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 0.90 2013-12-31 1.10 6.80 -7.00 1.30 2014-03-31 Percent [+]
GDP Annual Growth Rate 3.70 2013-12-31 3.40 18.20 -7.30 4.40 2014-03-31 Percent [+]
GDP per capita 21562.45 2012-12-31 21226.03 21562.45 1467.10 22008.93 2013-12-31 USD [+]
GDP per capita PPP 27990.83 2012-12-31 27554.12 27990.83 5543.57 28569.59 2013-12-31 USD [+]
GDP Constant Prices 350505.10 2013-11-15 285348.50 350505.10 14934.60 334209.75 2014-03-31 KRW Billion [+]
Gross Fixed Capital Formation 101518.70 2013-11-15 70686.00 101518.70 2402.10 94124.10 2014-03-31 KRW Billion [+]
Gross National Product 365088.20 2013-11-15 345972.60 365088.20 14696.60 385582.54 2014-03-31 KRW Billion [+]
GDP 1129.60 2012-12-31 1114.47 1129.60 2.36 1159.86 2013-12-31 USD Billion [+]
[+]


GDP | Notes
The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output. GDP can be defined in three ways, which should give identical results. First, it is equal to the total expenditures for all final goods and services produced within the country in a specified period of time (usually a 365-day year). Second, it is equal to the sum of the value added at every stage of production by all the industries, plus taxes and minus subsidies on products. Third, it is equal to the sum of the income generated by production like compensation of employees, taxes on production and imports less subsidies, and gross operating surplus.


RELATED NEWS

Bank of Korea Leaves Monetary Policy Unchanged  
At its April 10th, 2014 meeting, South Korea's central bank held the benchmark interest rate unchanged at 2.5 percent, as widely expected. Under new Governor Lee Ju-yeol, the Bank of Korea cited signs of recovery at home and abroad and uncertainty about the US Federal Reserve's stimulus.
South Korea Unemployment Rate Falls in March  
South Korea jobless rate decreased to 3.5 percent in March of 2014, after reaching a three-year high 3.9 percent in February, thanks to new jobs created in agriculture and social services.
South Korea Trade Surplus Widens 25.7% YoY in March  
South Korean trade surplus increased to USD 4.19 billion in March of 2014, up from a USD 933 million surplus in the previous month and USD 3.33 billion surplus a year earlier. Exports jumped to the second-highest value on record due to higher demand from the US and the EU.
South Korea Inflation Rate Accelerates in March  
South Korean consumer prices rose in March of 2014 to an annual rate of 1.3 percent, up from 1 percent in February. The inflation rate rose for the first time in four months to a seven-month high, mainly due to higher childcare cost.
South Korea GDP Advances 0.9% QoQ in Q4  
South Korean GDP advanced a seasonally adjusted 0.9 percent on quarter in the fourth quarter of 2013, in line with expectations and unchanged from the advance estimate.
South Korea GDP Growth Revised Down to 3.7% YoY  
In the fourth quarter of 2013, South Korean GDP advanced 3.7 percent over a year earlier, down from an initial 3.9 percent estimate. Exports, government spending and contruction investment rose at a slower pace than initially estimated.
Bank of Korea Holds Rates  
At its March 13th, 2014 meeting, South Korea’s central bank decided to hold the base rate unchanged at 2.5 percent, citing mixed signs of a global recovery.
South Korea Unemployment Rate Hits 3-Year High  
In February of 2014, South Korean seasonally adjusted jobless rate rose to 3.9 percent, up from 3.2 percent in the previous month. While the number of job seekers increased as the season for graduation and recruitment led more young people to actively look for job, the number of people in work hit its highest level in 15 years.
South Korea Inflation Rate Slows in February  
South Korea annual inflation rate eased to a four-month low 1 percent in February of 2014, down from 1.1 percent in the previous two months.
South Korea Trade Surplus Narrows over a Year Earlier  
In February of 2014, South Korean trade surplus decreased for the second straight month to USD 926 million, down from USD 1.9 billion a year earlier. Sales in January and February usually show volatility due to the Lunar New Year holidays.
MORE RELATED NEWS

LATEST NEWS

Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
Russia Unemployment Drops in March  
Russian jobless rate fell for the first time in four months to 5.4 percent, after remaining stable at 5.6 percent in the previous two months.
Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
Brazil Unemployment Rate Down to 5%  
In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.
Dutch Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Netherlands’ seasonally adjusted jobless rate fell to 8.7 percent from 8.8 percent in the previous month and 8.1 percent a year earlier, as more people left permanently the labor market rather than found jobs.
Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.
Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Angolan Inflation Rate Down To 7.32% in March  
The annual consumer prices in Angola decelerated for the second consecutive month to 7.32 percent in March of 2014, from 7.48 percent recorded in February of 2014.
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