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South Korea GDP Growth Rate (YoY)

South Korea's GDP grew by 0.5% annually in Q2 2025, rebounding from 0% growth in Q1 2025. The Q1 contraction was driven by weak domestic demand, reduced consumer spending, lower investment and weaker exports. The Q2 recovery was fueled by increased private consumption, a surge in exports particularly semiconductors and petrochemicals and higher government spending which offset continued investment weakness. South Korea's record low GDP Growth Rate (YoY) was -7.11% in Q2 1998 and record high was 20.8% in Q4 1969.

Quarterly Historical Data (1961-2025)

(in %)
Quarter GDP Growth Rate (YoY)
Q2 2025 0.6%
Q1 2025 0%
Q4 2024 1.2%
Q3 2024 1.5%
Q2 2024 2.3%
Q1 2024 3.3%
Q4 2023 2.1%
Q3 2023 1.4%
Q2 2023 1%
Q1 2023 1.1%
Q4 2022 1.1%
Q3 2022 3.4%
Q2 2022 3%
Q1 2022 3.5%
Q4 2021 4.3%
Q3 2021 4.1%
Q2 2021 6.4%
Q1 2021 2.4%
Q4 2020 -1.1%
Q3 2020 -1%
Q2 2020 -2.6%
Q1 2020 1.5%
Q4 2019 2.3%
Q3 2019 2%
Q2 2019 2.1%
Q1 2019 1.8%
Q4 2018 3.1%
Q3 2018 2.4%
Q2 2018 3.1%
Q1 2018 3%
Q4 2017 2.8%
Q3 2017 3.9%
Q2 2017 2.8%
Q1 2017 3.1%
Q4 2016 2.6%
Q3 2016 2.7%
Q2 2016 3.5%
Q1 2016 3%
Q4 2015 3.2%
Q3 2015 3%
Q2 2015 2.1%
Q1 2015 2.6%
Q4 2014 2.5%
Q3 2014 2.9%
Q2 2014 3.6%
Q1 2014 3.8%
Q4 2013 3.9%
Q3 2013 3.7%
Q2 2013 3.1%
Q1 2013 2.4%
Q4 2012 2.6%
Q3 2012 2.5%
Q2 2012 2.5%
Q1 2012 2.5%
Q4 2011 2.5%
Q3 2011 3.3%
Q2 2011 3.9%
Q1 2011 5.1%
Q4 2010 6.5%
Q3 2010 5.8%
Q2 2010 8%
Q1 2010 7.7%
Q4 2009 5.5%
Q3 2009 1.2%
Q2 2009 -1.2%
Q1 2009 -2.1%
Q4 2008 -1.6%
Q3 2008 3.8%
Q2 2008 4.3%
Q1 2008 5.7%
Q4 2007 6.8%
Q3 2007 5.6%
Q2 2007 6%
Q1 2007 5%
Q4 2006 4.8%
Q3 2006 5.1%
Q2 2006 5%
Q1 2006 6.2%
Q4 2005 5.5%
Q3 2005 5.1%
Q2 2005 3.9%
Q1 2005 2.9%
Q4 2004 3.4%
Q3 2004 5.1%
Q2 2004 6.6%
Q1 2004 5.7%
Q4 2003 3.7%
Q3 2003 2.1%
Q2 2003 2.3%
Q1 2003 4.2%
Q4 2002 7.7%
Q3 2002 8.3%
Q2 2002 7.7%
Q1 2002 7.3%
Q4 2001 5.4%
Q3 2001 3.5%
Q2 2001 5%
Q1 2001 5%
Q4 2000 6.1%
Q3 2000 9.3%
Q2 2000 9.4%
Q1 2000 12.4%
Q4 1999 13.6%
Q3 1999 13.4%
Q2 1999 12.4%
Q1 1999 6.9%
Q4 1998 -3.3%
Q3 1998 -6.2%
Q2 1998 -7.1%
Q1 1998 -3.1%
Q4 1997 4.4%
Q3 1997 6.9%
Q2 1997 7.8%
Q1 1997 6.1%
Q4 1996 7.8%
Q3 1996 7.9%
Q2 1996 8.2%
Q1 1996 8.2%
Q4 1995 8.1%
Q3 1995 10.7%
Q2 1995 10%
Q1 1995 9.7%
Q4 1994 10.3%
Q3 1994 8.2%
Q2 1994 8.6%
Q1 1994 9.7%
Q4 1993 7.9%
Q3 1993 7.9%
Q2 1993 6.4%
Q1 1993 4.9%
Q4 1992 4%
Q3 1992 5%
Q2 1992 7.7%
Q1 1992 8.5%
Q4 1991 9.8%
Q3 1991 9.4%
Q2 1991 11.5%
Q1 1991 10.9%
Q4 1990 8.1%
Q3 1990 10.5%
Q2 1990 10.8%
Q1 1990 10.1%
Q4 1989 8.4%
Q3 1989 6.8%
Q2 1989 7.8%
Q1 1989 4.9%
Q4 1988 12.8%
Q3 1988 10.7%
Q2 1988 8.2%
Q1 1988 16.4%
Q4 1987 10.5%
Q3 1987 10.4%
Q2 1987 14.9%
Q1 1987 14.6%
Q4 1986 11.6%
Q3 1986 13.9%
Q2 1986 10.1%
Q1 1986 9%
Q4 1985 9.7%
Q3 1985 7.3%
Q2 1985 6.5%
Q1 1985 7.2%
Q4 1984 7.5%
Q3 1984 9.5%
Q2 1984 12.1%
Q1 1984 13.7%
Q4 1983 10.6%
Q3 1983 15.8%
Q2 1983 13.3%
Q1 1983 13.7%
Q4 1982 7.7%
Q3 1982 8.1%
Q2 1982 8.5%
Q1 1982 8.9%
Q4 1981 12.3%
Q3 1981 7.7%
Q2 1981 4%
Q1 1981 3.8%
Q4 1980 -4.8%
Q3 1980 2.3%
Q2 1980 -3.5%
Q1 1980 0%
Q4 1979 3%
Q3 1979 7.8%
Q2 1979 11.4%
Q1 1979 14.4%
Q4 1978 7.2%
Q3 1978 9.6%
Q2 1978 13%
Q1 1978 15%
Q4 1977 16.5%
Q3 1977 13.3%
Q2 1977 8.8%
Q1 1977 9.2%
Q4 1976 12.3%
Q3 1976 13.6%
Q2 1976 14.4%
Q1 1976 12.1%
Q4 1975 13%
Q3 1975 8.1%
Q2 1975 6.6%
Q1 1975 2.3%
Q4 1974 5.8%
Q3 1974 7.6%
Q2 1974 10.7%
Q1 1974 15.4%
Q4 1973 14.9%
Q3 1973 18.2%
Q2 1973 13.4%
Q1 1973 12.6%
Q4 1972 11.1%
Q3 1972 6.3%
Q2 1972 5.2%
Q1 1972 5.3%
Q4 1971 6%
Q3 1971 11.3%
Q2 1971 13.1%
Q1 1971 12.7%
Q4 1970 11.1%
Q3 1970 4.7%
Q2 1970 13.8%
Q1 1970 10.4%
Q4 1969 20.8%
Q3 1969 14.3%
Q2 1969 12.6%
Q1 1969 9.1%
Q4 1968 10.3%
Q3 1968 15.6%
Q2 1968 13.6%
Q1 1968 13.7%
Q4 1967 8.3%
Q3 1967 14%
Q2 1967 5.1%
Q1 1967 9.5%
Q4 1966 10.5%
Q3 1966 15.9%
Q2 1966 13.7%
Q1 1966 8.1%
Q4 1965 1.5%
Q3 1965 7.3%
Q2 1965 13.6%
Q1 1965 8%
Q4 1964 17.6%
Q3 1964 8.1%
Q2 1964 5.8%
Q1 1964 4.7%
Q4 1963 8.1%
Q3 1963 9.9%
Q2 1963 8.8%
Q1 1963 10.2%
Q4 1962 4.4%
Q3 1962 7.2%
Q2 1962 -1.7%
Q1 1962 6.2%
Q4 1961 9%
Q3 1961 4.5%
Q2 1961 7%
Q1 1961 6.5%

Recent Events

datetime event actual previous consensus
2025-10-27 07:00 PM GDP Growth Rate YoY Adv (Q3) - 0.6% 0.9%
2025-09-02 07:00 PM GDP Growth Rate YoY Final (Q2) 0.6% 0% 0.5%

Next Release Date :

South Korea GDP Growth Rate (YoY) : Definition
South Korea's year-on-year GDP growth rate measures the change in the country's total value of goods and services produced compared to the same quarter of the previous year. It is calculated by comparing the current quarter's Gross Domestic Product (GDP) to the prior year's same quarter GDP, expressing the difference as a percentage. Key components include consumption, investment, government spending and net exports (exports minus imports).
Indicator Last Value Prior Value Period
GDP $1.71T $1.67T 2023
GDP Annual Growth Rate 1.36% 2.61% 2023
GDP Growth Rate (QoQ) 0.7% -0.2% Jun'25
GDP per Capita $34,121.02 $33,690.38 2023
GDP per Capita PPP $50,414.21 $49,777.93 2023
R&D Expenditure (% GDP) 5.21% 4.91% 2022
Real GDP $1.76T $1.74T 2023