South Korea GDP Annual Growth Rate

The Gross Domestic Product (GDP) in South Korea expanded 1.50 percent in the first quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in South Korea is reported by the Bank of Korea. Historically, from 1971 until 2013, South Korea GDP Annual Growth Rate averaged 7.20 Percent reaching an all time high of 18.20 Percent in September of 1973 and a record low of -7.30 Percent in June of 1998. South Korea’s economy became one of the most diversified and technologically advanced in the world in the last 50 years. Like in most developed countries, services account for the highest percentage of GDP (around 57 percent of GDP). Within services the most important ones are public administration (around 5.8 percent of GDP); education (5.3 percent of GDP); information and communication (5 percent of GDP); 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. This page includes a chart with historical data for South Korea GDP Annual Growth Rate.