[ Nominal GDP in billions of USD ]
Year -
$983.07 billions
South Korea GDP expanded from 1960 to 2009, increasing from $3.97 billion to $983.07 billion.The compound annual growth rate (CAGR) averaged 11.91% over the period. The economy recorded its peak level in 2007 and its lowest level in 1961. Growth volatility remained high. The maximum drawdown reached 38.79%, indicating the largest cyclical decline from peak levels. The country experienced 6 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2009 | 2024 |
| Latest GDP | $ 983.07 Billions | $ 3,159.47 Int Billions |
| Growth (YoY) | -9.941% | 6.385% |
| Net Change vs Previous Year | $ -108.52 Billion | $ 189.63 Int Billion |
| % of World GDP | 1.61% | 1.58% |
| 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 | 4.025 % | - | - | - |
| 1986 | 119.97 | 16.2 | 15.614 % | - | - | - |
| 1987 | 152.24 | 32.27 | 26.903 % | - | - | - |
| 1988 | 205.48 | 53.24 | 34.969 % | - | - | - |
| 1989 | 254.24 | 48.76 | 23.729 % | - | - | - |
| 1990 | 292.06 | 37.83 | 14.879 % | 367.28 | - | - |
| 1991 | 340.85 | 48.79 | 16.704 % | 420.99 | 53.71 | 14.625 % |
| 1992 | 366.92 | 26.07 | 7.648 % | 457.94 | 36.94 | 8.775 % |
| 1993 | 405.71 | 38.78 | 10.57 % | 501.58 | 43.65 | 9.531 % |
| 1994 | 479.18 | 73.48 | 18.111 % | 560.3 | 58.72 | 11.707 % |
| 1995 | 586.29 | 107.1 | 22.352 % | 627.75 | 67.44 | 12.037 % |
| 1996 | 631.2 | 44.91 | 7.66 % | 690.32 | 62.57 | 9.967 % |
| 1997 | 589.2 | -41.99 | -6.653 % | 746.34 | 56.02 | 8.115 % |
| 1998 | 397.3 | -191.91 | -32.57 % | 717.45 | -28.89 | -3.871 % |
| 1999 | 515.7 | 118.4 | 29.801 % | 812.13 | 94.68 | 13.197 % |
| 2000 | 597.49 | 81.79 | 15.86 % | 904.29 | 92.16 | 11.348 % |
| 2001 | 567.56 | -29.92 | -5.008 % | 968.35 | 64.06 | 7.084 % |
| 2002 | 650.01 | 82.45 | 14.527 % | 1056.45 | 88.1 | 9.098 % |
| 2003 | 728.52 | 78.5 | 12.077 % | 1097.68 | 41.23 | 3.903 % |
| 2004 | 823.25 | 94.73 | 13.004 % | 1185.63 | 87.95 | 8.012 % |
| 2005 | 971.74 | 148.49 | 18.037 % | 1261.44 | 75.81 | 6.394 % |
| 2006 | 1095.18 | 123.44 | 12.702 % | 1354.93 | 93.49 | 7.412 % |
| 2007 | 1220.91 | 125.74 | 11.481 % | 1472.94 | 118.01 | 8.709 % |
| 2008 | 1091.58 | -129.33 | -10.593 % | 1531.05 | 58.11 | 3.945 % |
| 2009 | 983.07 | -108.52 | -9.941 % | 1515.72 | -15.33 | -1.001 % |
| 2010 | - | - | - | 1641.25 | 125.53 | 8.282 % |
| 2011 | - | - | - | 1695.06 | 53.81 | 3.279 % |
| 2012 | - | - | - | 1760.08 | 65.02 | 3.836 % |
| 2013 | - | - | - | 1807.58 | 47.5 | 2.699 % |
| 2014 | - | - | - | 1879.26 | 71.67 | 3.965 % |
| 2015 | - | - | - | 2030.1 | 150.84 | 8.027 % |
| 2016 | - | - | - | 2134.38 | 104.28 | 5.137 % |
| 2017 | - | - | - | 2216.57 | 82.19 | 3.851 % |
| 2018 | - | - | - | 2347.69 | 131.12 | 5.916 % |
| 2019 | - | - | - | 2407.65 | 59.95 | 2.554 % |
| 2020 | - | - | - | 2482 | 74.35 | 3.088 % |
| 2021 | - | - | - | 2677.43 | 195.43 | 7.874 % |
| 2022 | - | - | - | 2868.31 | 190.88 | 7.129 % |
| 2023 | - | - | - | 2969.85 | 101.54 | 3.54 % |
| 2024 | - | - | - | 3159.47 | 189.63 | 6.385 % |
Between 1960 to 2009, 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%.