[ Nominal GDP in billions of USD ]
Year -
$1,875.39 billions
South Korea GDP expanded from 1960 to 2024, increasing from $3.97 billion to $1,875.39 billion.The compound annual growth rate (CAGR) averaged 10.1% over the period. The economy recorded its peak level in 2021 and its lowest level in 1961. Growth volatility remained high. The maximum drawdown reached 38.79%, indicating the largest cyclical decline from peak levels. The country experienced 9 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 1,875.39 Billions | $ 3,047.88 Int Billions |
| Growth (YoY) | 1.658% | 4.822% |
| Net Change vs Previous Year | $ 30.59 Billion | $ 140.21 Int Billion |
| % of World GDP | 1.69% | 1.53% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | 3.97 | - | - | - | - | - |
| 1961 | 2.43 | -1.55 | -38.908 % | - | - | - |
| 1962 | 2.83 | 0.4 | 16.466 % | - | - | - |
| 1963 | 4.01 | 1.18 | 41.769 % | - | - | - |
| 1964 | 3.48 | -0.53 | -13.247 % | - | - | - |
| 1965 | 3.14 | -0.34 | -9.654 % | - | - | - |
| 1966 | 3.96 | 0.82 | 25.976 % | - | - | - |
| 1967 | 4.9 | 0.94 | 23.705 % | - | - | - |
| 1968 | 6.17 | 1.27 | 25.986 % | - | - | - |
| 1969 | 7.74 | 1.58 | 25.568 % | - | - | - |
| 1970 | 9.09 | 1.34 | 17.318 % | - | - | - |
| 1971 | 10.01 | 0.92 | 10.129 % | - | - | - |
| 1972 | 10.99 | 0.99 | 9.847 % | - | - | - |
| 1973 | 14.07 | 3.08 | 27.997 % | - | - | - |
| 1974 | 19.86 | 5.79 | 41.183 % | - | - | - |
| 1975 | 22.13 | 2.27 | 11.405 % | - | - | - |
| 1976 | 30.37 | 8.25 | 37.264 % | - | - | - |
| 1977 | 39.06 | 8.69 | 28.624 % | - | - | - |
| 1978 | 52.82 | 13.76 | 35.225 % | - | - | - |
| 1979 | 68.08 | 15.26 | 28.886 % | - | - | - |
| 1980 | 66.55 | -1.54 | -2.256 % | - | - | - |
| 1981 | 74.29 | 7.74 | 11.63 % | - | - | - |
| 1982 | 79.92 | 5.63 | 7.584 % | - | - | - |
| 1983 | 89.62 | 9.7 | 12.137 % | - | - | - |
| 1984 | 99.75 | 10.13 | 11.301 % | - | - | - |
| 1985 | 103.76 | 4.01 | 4.024 % | - | - | - |
| 1986 | 119.97 | 16.2 | 15.614 % | - | - | - |
| 1987 | 152.24 | 32.27 | 26.903 % | - | - | - |
| 1988 | 205.48 | 53.24 | 34.97 % | - | - | - |
| 1989 | 254.24 | 48.76 | 23.729 % | - | - | - |
| 1990 | 292.06 | 37.83 | 14.879 % | 369.18 | - | - |
| 1991 | 340.85 | 48.79 | 16.705 % | 422.87 | 53.69 | 14.543 % |
| 1992 | 366.92 | 26.07 | 7.648 % | 459.85 | 36.98 | 8.744 % |
| 1993 | 405.71 | 38.78 | 10.57 % | 503.69 | 43.84 | 9.533 % |
| 1994 | 479.18 | 73.48 | 18.111 % | 562.32 | 58.63 | 11.641 % |
| 1995 | 586.29 | 107.1 | 22.351 % | 630.05 | 67.73 | 12.044 % |
| 1996 | 631.2 | 44.91 | 7.66 % | 692 | 61.95 | 9.833 % |
| 1997 | 589.2 | -41.99 | -6.653 % | 747.13 | 55.13 | 7.967 % |
| 1998 | 397.3 | -191.91 | -32.57 % | 718.38 | -28.75 | -3.848 % |
| 1999 | 515.7 | 118.4 | 29.801 % | 812.13 | 93.75 | 13.05 % |
| 2000 | 597.49 | 81.79 | 15.86 % | 903.7 | 91.58 | 11.276 % |
| 2001 | 567.57 | -29.92 | -5.008 % | 968.32 | 64.61 | 7.15 % |
| 2002 | 650.01 | 82.45 | 14.527 % | 1056.45 | 88.14 | 9.102 % |
| 2003 | 728.52 | 78.5 | 12.077 % | 1097.08 | 40.63 | 3.846 % |
| 2004 | 823.25 | 94.74 | 13.004 % | 1186.45 | 89.37 | 8.146 % |
| 2005 | 971.74 | 148.49 | 18.037 % | 1261.44 | 74.99 | 6.321 % |
| 2006 | 1095.18 | 123.44 | 12.703 % | 1354.11 | 92.67 | 7.346 % |
| 2007 | 1220.91 | 125.73 | 11.48 % | 1473.27 | 119.16 | 8.8 % |
| 2008 | 1091.58 | -129.33 | -10.593 % | 1531.05 | 57.78 | 3.922 % |
| 2009 | 983.07 | -108.52 | -9.941 % | 1515.3 | -15.75 | -1.029 % |
| 2010 | 1192.83 | 209.77 | 21.338 % | 1640.28 | 124.98 | 8.248 % |
| 2011 | 1307.1 | 114.27 | 9.58 % | 1695.06 | 54.78 | 3.34 % |
| 2012 | 1335.34 | 28.24 | 2.161 % | 1760.08 | 65.02 | 3.836 % |
| 2013 | 1434.67 | 99.33 | 7.439 % | 1807.58 | 47.5 | 2.699 % |
| 2014 | 1556.25 | 121.58 | 8.474 % | 1879.26 | 71.68 | 3.966 % |
| 2015 | 1539.21 | -17.04 | -1.095 % | 2030.37 | 151.11 | 8.041 % |
| 2016 | 1579.15 | 39.94 | 2.595 % | 2134.38 | 104.01 | 5.123 % |
| 2017 | 1710.2 | 131.05 | 8.299 % | 2216.57 | 82.19 | 3.851 % |
| 2018 | 1824.25 | 114.05 | 6.669 % | 2347.69 | 131.12 | 5.915 % |
| 2019 | 1751.05 | -73.2 | -4.013 % | 2407.65 | 59.96 | 2.554 % |
| 2020 | 1744.07 | -6.98 | -0.399 % | 2482 | 74.35 | 3.088 % |
| 2021 | 1942.31 | 198.24 | 11.367 % | 2677.43 | 195.43 | 7.874 % |
| 2022 | 1799.36 | -142.95 | -7.36 % | 2845.65 | 168.22 | 6.283 % |
| 2023 | 1844.8 | 45.44 | 2.525 % | 2907.67 | 62.02 | 2.179 % |
| 2024 | 1875.39 | 30.59 | 1.658 % | 3047.88 | 140.21 | 4.822 % |
Between 1960 to 2024, South Korea experienced the following economic phases:
The most remarkable growth occurred in 1963 with an increase of 41.769%, while the largest decline was in 1961 at -38.908%.