South Korea GDP Annual Growth Rate
The Gross Domestic Product (GDP) in South Korea expanded 3 percent in the first quarter of 2022 over the same quarter of the previous year. GDP Annual Growth Rate in South Korea averaged 7.09 percent from 1961 until 2022, reaching an all time high of 20.80 percent in the fourth quarter of 1969 and a record low of -7.30 percent in the second quarter 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 (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 Annual Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news.