South Korea: Services value added

* indicates monthly or quarterly data series
 South Korea

Services value added, billion USD

 Latest value 971.44
 Year 2022
 Measure billion U.S. dollars
 Data availability 1960 - 2022
 Average 292.46
 Min - Max 0.91 - 1,033.27
 Source The World Bank
For that indicator, we provide data for South Korea from 1960 to 2022. The average value for South Korea during that period was 292.46 billion U.S. dollars with a minimum of 0.91 billion U.S. dollars in 1961 and a maximum of 1033.27 billion U.S. dollars in 2021. The latest value from 2022 is 971.44 billion U.S. dollars. For comparison, the world average in 2022 based on 164 countries is 230.01 billion U.S. dollars. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
South Korea - Services value added - Recent values chart

Historical chart
South Korea - Services value added - historical chart - 1960-2022




Definition: Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. 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 industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4. Data are in constant 2010 U.S. dollars.


 Related indicators Latest value Reference Measure
 Share of industry 31.73 2022 percent
 Share of manufacturing 25.63 2022 percent
 Share of services 58.03 2022 percent
 Industry value added 531.07 2022 billion U.S. dollars
 Manufacturing value added 429.06 2022 billion U.S. dollars
 Services value added 971.44 2022 billion U.S. dollars
 Savings, percent of GDP 34.47 2022 percent
 Savings, in dollars 576.96 2022 billion U.S. dollars
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