South Korea GDP Growth Rate
The Gross Domestic Product (GDP) in South Korea expanded 0.70 percent in the first quarter of 2022 over the previous quarter. GDP Growth Rate in South Korea averaged 1.73 percent from 1960 until 2022, reaching an all time high of 7.80 percent in the fourth quarter of 1970 and a record low of -7 percent in the first quarter of 1998. South Korea has an export oriented economy and is the world’s leading producer of displays and memory semiconductors and the second largest producer of ships. Services account for the highest percentage of GDP (around 57 percent of GDP). Within services the most important ones are public administration (6 percent ); education (5.3 percent); information and communication (5 percent); 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 provides – South Korea GDP Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news.