South Korea GDP

The Gross Domestic Product (GDP) in South Korea was worth 1014.48 billion US dollars in 2010. The GDP value of South Korea represents 1.64 percent of the world economy. GDP in South Korea is reported by the The World Bank Group. Historically, from 1960 until 2010, South Korea GDP averaged 277.2 USD Billion reaching an all time high of 1049.2 USD Billion in December of 2007 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 includes a chart with historical data for South Korea GDP.

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South Korea GDP
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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.






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