South Korea: Share of manufacturing

The latest value from 2023 is 24.31 percent, a decline from 25.63 percent in 2022. In comparison, the world average is 12.87 percent, based on data from 127 countries. Historically, the average for South Korea from 1960 to 2023 is 22.91 percent. The minimum value, 11.4 percent, was reached in 1960 while the maximum of 28.24 percent was recorded in 2011. See the global rankings for that indicator or use the country comparator to compare trends over time.

The importance of manufacturing in the economy of South Korea and other countries is measured as the value added of manufacturing as percent of GDP. Manufacturing is part of the industrial sector of the economy.

Definition: Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.