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South Korea Real GDP

South Korea's real GDP rose to $1.76 trillion in 2023, up from $1.74 trillion in 2022, according to World Bank. This represents an increase of 1.4% ($23.62 billion) from the previous year and accounts for 1.82% of the world's total real GDP. South Korea has the 11th highest real GDP. Within Asia, it ranks 4th out of 47 countries.

South Korea's GDP per capita rose to $34,121.02 in 2023, up from $33,690.38 in 2022.

Yearly Historical Data (1960-2023)

(in Trillion USD)
Year Real GDP (Trillion USD)
2023 1.76
2022 1.74
2021 1.7
2020 1.63
2019 1.64
2018 1.6
2017 1.56
2016 1.51
2015 1.47
2014 1.43
2013 1.38
2012 1.34
2011 1.31
2010 1.26
2009 1.18
2008 1.17
2007 1.14
2006 1.08
2005 1.02
2004 0.98
2003 0.93
2002 0.9
2001 0.84
2000 0.8
1999 0.73
1998 0.66
1997 0.69
1996 0.65
1995 0.6
1994 0.55
1993 0.5
1992 0.47
1991 0.44
1990 0.4
1989 0.37
1988 0.34
1987 0.3
1986 0.27
1985 0.24
1984 0.23
1983 0.2
1982 0.18
1981 0.17
1980 0.15
1979 0.16
1978 0.14
1977 0.13
1976 0.12
1975 0.1
1974 0.1
1973 0.09
1972 0.08
1971 0.07
1970 0.06
1969 0.06
1968 0.05
1967 0.04
1966 0.04
1965 0.04
1964 0.03
1963 0.03
1962 0.03
1961 0.03
1960 0.03
South Korea Real GDP : Definition
Real GDP is defined as the value of all goods and services produced in South Korea, measured in US dollars adjusted to 2015 prices. By fixing prices to a base year, it removes the effect of inflation, so this represents real GDP rather than nominal GDP.
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 Growth Rate (YoY) 0.6% 0% 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