(measure: billion U.S. dollars; Source: The World Bank)
* indicates monthly or quarterly data series
South Korea: Gross Domestic Product, billions of 2010 U.S. dollars
For that indicator, The World Bank provides data for South Korea from 1960 to 2018. The average value for South Korea during that period was 484.4 billion U.S. dollars with a minimum of 23.6 billion U.S. dollars in 1960 and a maximum of 1381.9 billion U.S. dollars in 2018.
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The GDP of South Korea and other countries is a measure of the size of the economy. It is the total market value of all goods and services produced on the territory of a country during a period of time, for example, during one year. We show GDP in constant dollars. In other words, we present the production levels of different years but evaluated using the prices of only one year. The objective is to compare the level of production across years, holding constant any price changes.
Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2010 U.S. dollars. Dollar figures for GDP are converted from domestic currencies using 2010 official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.