South Korea: Economic growth, quarterly
* indicates monthly or quarterly data series
The latest data from Q2 2024 show economic growth of 2.3 percent,
which is a decrease from the rate of growth of 3.3 percent in the previous quarter and
an increase compared to the growth rate of 1 percent in the same quarter last year.
The economic growth time series for South Korea cover the period from Q1 1961 to Q2 2024.
During that time span, the average growth rate for South Korea was
6.93 percent. The lowest rate of growth of -7.3 percent was recorded in Q2 1998 while the highest growth rate was 20.8 percent in Q4 1969.
See more information about that indicator and compare to other countries on our Economic growth page.
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* indicates monthly or quarterly data series
- Measure: percent
- Source: Bank of Korea
| Recent values | South Korea: Economic growth, percent change in quarterly real GDP |
|---|---|
| 2024 Q2 | 2.3 |
| 2024 Q1 | 3.3 |
| 2023 Q4 | 2.1 |
| 2023 Q3 | 1.4 |
| 2023 Q2 | 1 |
| 2023 Q1 | 1.1 |
| 2022 Q4 | 1.1 |
| 2022 Q3 | 3.4 |
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Definition: The percent change in the Gross Domestic Product from the same quarter last year using constant prices.
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Economic growth | 1.36 | 2023 | percent |
| GDP, constant dollars | 1,764.5 | 2023 | billion U.S. dollars |
| GDP, current U.S. dollars | 1,712.79 | 2023 | billion U.S. dollars |
| GDP per capita, current dollars | 33,121.37 | 2023 | U.S. dollars |
| GDP per capita, PPP | 50,572 | 2023 | U.S. dollars |
| GDP per capita, constant dollars | 34,121.02 | 2023 | U.S. dollars |
| Productivity, relative to the U.S. | 54.75 | 2022 | index points |
| Productivity, current USD | 50.1 | 2022 | USD per hour worked |
| Economic growth, quarterly | 2.30 | Q2/2024 | percent |
| Economic growth Q-on-Q | -0.20 | Q2/2024 | percent |
| Gross Domestic Product (GDP) | 634,718.40 | Q2/2024 | billion |