The statistic shows the growth of the real gross domestic product (GDP) in South Korea from 1954 to 2023, with projections up until 2029. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a change in it is a sign of economic growth. In 2023, the real GDP in South Korea grew by about 1.4 percent compared to the previous year.
South Korea: Growth of real gross domestic product (GDP) from 1954 to 2023, with projections until 2029
(compared to the previous year)
Characteristic
GDP growth compared to previous year
2029*
2.04%
2028*
2.1%
2027*
2.12%
2026*
2.16%
2025*
2.17%
2024*
2.49%
2023
1.4%
2022
2.73%
2021
4.61%
2020
-0.7%
2019
2.31%
2018
2.91%
2017
3.16%
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This statistic is compiled from two different sources. Figures for years 1954-1979 come from the Bank of Korea, while figures for years 1980-2028 come from the International Monetary Fund.
Citation formats
Aaron O'Neill
Research lead for society, economy, and politics: Europe & global
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IMF, & Bank of Korea. (October 22, 2024). South Korea: Growth of real gross domestic product (GDP) from 1954 to 2023, with projections until 2029 (compared to the previous year) [Graph]. In Statista. Retrieved April 19, 2025, from https://www.statista.com/statistics/263758/gross-domestic-product-gdp-growth-in-south-korea/
IMF, und Bank of Korea. "South Korea: Growth of real gross domestic product (GDP) from 1954 to 2023, with projections until 2029 (compared to the previous year)." Chart. October 22, 2024. Statista. Accessed April 19, 2025. https://www.statista.com/statistics/263758/gross-domestic-product-gdp-growth-in-south-korea/
IMF, Bank of Korea. (2024). South Korea: Growth of real gross domestic product (GDP) from 1954 to 2023, with projections until 2029 (compared to the previous year). Statista. Statista Inc.. Accessed: April 19, 2025. https://www.statista.com/statistics/263758/gross-domestic-product-gdp-growth-in-south-korea/
IMF, and Bank of Korea. "South Korea: Growth of Real Gross Domestic Product (Gdp) from 1954 to 2023, with Projections until 2029 (Compared to The Previous Year)." Statista, Statista Inc., 22 Oct 2024, https://www.statista.com/statistics/263758/gross-domestic-product-gdp-growth-in-south-korea/
IMF & Bank of Korea, South Korea: Growth of real gross domestic product (GDP) from 1954 to 2023, with projections until 2029 (compared to the previous year) Statista, https://www.statista.com/statistics/263758/gross-domestic-product-gdp-growth-in-south-korea/ (last visited April 19, 2025)
South Korea: Growth of real gross domestic product (GDP) from 1954 to 2023, with projections until 2029 (compared to the previous year) [Graph], IMF, & Bank of Korea, October 22, 2024. [Online]. Available: https://www.statista.com/statistics/263758/gross-domestic-product-gdp-growth-in-south-korea/
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