Korea (South Korea) Economic Statistics and Indicators

29, Mar 2015, EDT. Welcome to the Korea economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Korea, South (South Korea) › Change country
National or Regional Currency: South Korean Won, KRW
Year of data: 2014 › Change year
Number of Indicators Listed: 42
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 49,039,986 (July 2014 est.)
Area: total: 99,720 sq km ; land: 96,920 sq km ; water: 2,800 sq km
Natural Resources: coal, tungsten, graphite, molybdenum, lead, hydropower potential
Capital: name: Seoul ; geographic coordinates: 37 33 N, 126 59 E ; time difference: UTC+9 (14 hours ahead of Washington, DC, during Standard Time)

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion-dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. South Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. South Korea's export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 and 2013 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The administration in 2014 is likely to face the challenge of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy's long term challenges include a rapidly aging population, inflexible labor market, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP.
More on the Korea Economy
More on the Korea Export, Import and Trade

Economic Indicator Listing
  For Korea in year 2014 Indicator Value
GDP Growth (Constant Prices, National Currency) 3.728 %
GDP (Current Prices, National Currency)KRW 1,502,856.80 Billion.
GDP (Current Prices, US Dollars)US$ 1,449.49 Billion
GDP Deflator 104.849 (Index, Base Year as per country's accounts = 100)
GDP Per Capita (Constant Prices, National Currency)KRW 28,418,841.63 .
GDP Per Capita (Current Prices, National Currency)KRW 29,796,752.30 .
GDP Per Capita (Current Prices, US Dollars)US$ 28,738.73
Output Gap, Percent of Potential GDP -1.148 %
GDP (PPP), US DollarsUS$ 1,789.76 Billion
GDP Per Capita (PPP), US DollarsUS$ 35,485.07
GDP Share of World Total (PPP) 1.673 %
Implied PPP Conversion Rate 839.698
Investment (% of GDP) 28.913 %
Gross National Savings (% of GDP) 34.722 %
Inflation, Average Consumer Prices (Indexed to Year 2000) 109.359 (Index, Base Year 2000 = 100)
Inflation (Average Consumer Price Change %) 1.572 %
Inflation, End of Year (Indexed to Year 2000) 110.078 (Index, Base Year 2000 = 100)
Inflation (End of Year Change %) 2 %
Import Volume of All Items Including Goods and Services (Percent Change) 4.618 %
Import Volumes of Goods Only (Percent Change) 3.437 %
Export Volume of All Items Including Goods and Services (Percent Change) 5.953 %
Export Volumes of Goods Only (Percent Change) 5.734 %
Unemployment Rate (% of Labour Force) 3.125 %
Employment 24.762 Million
Population 50.437 Million
General government revenue (National Currency)KRW 324,103.59 Billions.
General government revenue (% of GDP) 21.566 %
General government total expenditure (National Currency)KRW 319,428.99 Billions.
General government total expenditure (% of GDP) 21.255 %
Total Government Net Lending/ Borrowing (National Currency)KRW 4,674.60 Billions.
Total Government Net Lending/ Borrowing (% of GDP) 0.311 %
General Government Structural Balance (National Currency)KRW 8,438.32 Billion.
General Government Structural Balance (% Potential GDP) 0.555 %
Fiscal Year Gross Domestic Product, Current PricesKRW 1,502,856.80 Billions.
Current Account Balance (US Dollars)US$ 84.193 Billion
Current Account Balance (% GDP) 5.808 %
Economic Indicators for Korea 2014

GDP (Constant Prices, National Currency) for Korea in year 2014 is KRW 1,433,359.21 Billion.

GDP Growth (Constant Prices, National Currency) for Korea in year 2014 is 3.728 %.

GDP (Current Prices, National Currency) for Korea in year 2014 is KRW 1,502,856.80 Billion.

GDP (Current Prices, US Dollars) for Korea in year 2014 is US$ 1,449.49 Billion.

GDP Deflator for Korea in year 2014 is 104.849 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Korea in year 2014 is KRW 28,418,841.63 .

GDP Per Capita (Current Prices, National Currency) for Korea in year 2014 is KRW 29,796,752.30 .

GDP Per Capita (Current Prices, US Dollars) for Korea in year 2014 is US$ 28,738.73 .

Output Gap, Percent of Potential GDP for Korea in year 2014 is -1.148 %.

GDP (PPP), US Dollars for Korea in year 2014 is US$ 1,789.76 Billion.

GDP Per Capita (PPP), US Dollars for Korea in year 2014 is US$ 35,485.07 .

GDP Share of World Total (PPP) for Korea in year 2014 is 1.673 %.

Implied PPP Conversion Rate for Korea in year 2014 is 839.698 .

Investment (% of GDP) for Korea in year 2014 is 28.913 %.

Gross National Savings (% of GDP) for Korea in year 2014 is 34.722 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Korea in year 2014 is 109.359 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Korea in year 2014 is 1.572 %.

Inflation, End of Year (Indexed to Year 2000) for Korea in year 2014 is 110.078 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Korea in year 2014 is 2 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Korea in year 2014 is 4.618 %.

Import Volumes of Goods Only (Percent Change) for Korea in year 2014 is 3.437 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Korea in year 2014 is 5.953 %.

Export Volumes of Goods Only (Percent Change) for Korea in year 2014 is 5.734 %.

Unemployment Rate (% of Labour Force) for Korea in year 2014 is 3.125 %.

Employment for Korea in year 2014 is 24.762 Million .

Population for Korea in year 2014 is 50.437 Million .

General government revenue (National Currency) for Korea in year 2014 is KRW 324,103.59 Billions.

General government revenue (% of GDP) for Korea in year 2014 is 21.566 %.

General government total expenditure (National Currency) for Korea in year 2014 is KRW 319,428.99 Billions.

General government total expenditure (% of GDP) for Korea in year 2014 is 21.255 %.

Total Government Net Lending/ Borrowing (National Currency) for Korea in year 2014 is KRW 4,674.60 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Korea in year 2014 is 0.311 %.

General Government Structural Balance (National Currency) for Korea in year 2014 is KRW 8,438.32 Billion.

General Government Structural Balance (% Potential GDP) for Korea in year 2014 is 0.555 %.

Fiscal Year Gross Domestic Product, Current Prices for Korea in year 2014 is KRW 1,502,856.80 Billions.

Current Account Balance (US Dollars) for Korea in year 2014 is US$ 84.193 Billion.

Current Account Balance (% GDP) for Korea in year 2014 is 5.808 %.

* Source: IMF
Aggregate Indicators for Korea
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Korea
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Korea
  Natural Resources, Agricultural Products, Land Use and Water Use for Korea
  Nationality, Ethnic Groups, Languages and Religions for Korea
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Korea
  Age Structure, Median Age, Gender and Urbanization for Korea
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Korea
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Korea
  HIV, AIDS and Other Major Infectious Disease Rates for Korea
  Literacy Rate, Educational Expenditure and School Life Expectancy for Korea
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Korea
  Industries and Industrial Growth Production Rate for Korea
  Labor Force by Occupation for Korea
  Poverty Line, Gini Index, Household Income and Consumption for Korea
  National Budget and Public Debt for Korea
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Korea
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Korea
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Korea
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Korea
  Foreign Exchange Reserves and Gold Reserves for Korea
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Korea
  Exchange Rate Statistics for Korea
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Korea
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Korea
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Korea
  Television and Radio Statistics (TV Stats, Radio Stats) for Korea
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Korea
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Korea
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Korea
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Korea
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Korea
* Source: CIA
Internet Indicators for Korea
Indicators
  Number of Internet Users for Korea
  Internet Penetration Rate for Korea
  Number of Facebook Accounts for Korea
  Facebook Penetration Rate for Korea
* Source: IWS
Economic Freedom Indicators for Korea
Indicators
  Economic Freedom World Rank for Korea
  Economic Freedom Regional Ranking for Korea
  Business Freedom for Korea
  Trade Freedom for Korea
  Fiscal Freedom for Korea
  Government Spending for Korea
  Monetary Freedom for Korea
  Investment Freedom for Korea
  Financial Freedom for Korea
  Property Rights for Korea
  Freedom from Corruption for Korea
  Labor Freedom for Korea
  Tariff Rate for Korea
  Income Tax Rate for Korea
  Corporate Tax Rate for Korea
  Tax Burden % of GDP for Korea
  Government Expenditure % of GDP for Korea
* Source: HFO
Corruption Perceptions Index Rank and Score for Korea
Indicator
  Corruption Perceptions Index Rank and Score for Korea
* Source: TIO
Korea Economic Indicators in other Years
  Korea Economic Indicators for Year 2019 (Forecast)
  Korea Economic Indicators for Year 2018 (Forecast)
  Korea Economic Indicators for Year 2017 (Forecast)
  Korea Economic Indicators for Year 2016 (Forecast)
  Korea Economic Indicators for Year 2015 (Forecast)
Korea Economic Indicators for Year 2014 (Current)
  Korea Economic Indicators for Year 2013
  Korea Economic Indicators for Year 2012
  Korea Economic Indicators for Year 2011
  Korea Economic Indicators for Year 2010
  Korea Economic Indicators for Year 2009
  Korea Economic Indicators for Year 2008
  Korea Economic Indicators for Year 2007
  Korea Economic Indicators for Year 2006
  Korea Economic Indicators for Year 2005
  Korea Economic Indicators for Year 2004
  Korea Economic Indicators for Year 2003
  Korea Economic Indicators for Year 2002
  Korea Economic Indicators for Year 2001
  Korea Economic Indicators for Year 2000
  Korea Economic Indicators for Year 1999
  Korea Economic Indicators for Year 1998
  Korea Economic Indicators for Year 1997
  Korea Economic Indicators for Year 1996
  Korea Economic Indicators for Year 1995
  Korea Economic Indicators for Year 1994
  Korea Economic Indicators for Year 1993
  Korea Economic Indicators for Year 1992
  Korea Economic Indicators for Year 1991
  Korea Economic Indicators for Year 1990
  Korea Economic Indicators for Year 1989
  Korea Economic Indicators for Year 1988
  Korea Economic Indicators for Year 1987
  Korea Economic Indicators for Year 1986
  Korea Economic Indicators for Year 1985
  Korea Economic Indicators for Year 1984
  Korea Economic Indicators for Year 1983
  Korea Economic Indicators for Year 1982
  Korea Economic Indicators for Year 1981
  Korea Economic Indicators for Year 1980


Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International