Annual GDP growth in Republic of Korea
Republic of Korea: Annual GDP growth was 2.0% in 2024. ◆ Volatile
Annual GDP growth in Republic of Korea, 2000–2024
Source: United Nations Statistics Division, SDG Global Database. Measured in %.
Analysis
In 2024, annual gdp growth in Republic of Korea stood at 2.0%.
Compared with earlier readings it is up 26.6% on the previous year and down 37.7% over ten years.
Over the whole period, annual gdp growth in Republic of Korea peaked at 9.2% in 2000 and was at its lowest, -0.7%, in 2020.
That places Republic of Korea 153rd out of 228 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 9.2% | — |
| 2001 | 4.7% | -48.6% |
| 2002 | 7.7% | +63.9% |
| 2003 | 3.1% | -60.3% |
| 2004 | 5.2% | +68.6% |
| 2005 | 4.4% | -15.9% |
| 2006 | 5.2% | +20.3% |
| 2007 | 5.8% | +11.4% |
| 2008 | 3.0% | -48.6% |
| 2009 | 0.8% | -72.7% |
| 2010 | 7.0% | +751.6% |
| 2011 | 3.7% | -47.2% |
| 2012 | 2.5% | -30.9% |
| 2013 | 3.3% | +29.2% |
| 2014 | 3.2% | -2.3% |
| 2015 | 2.9% | -9.2% |
| 2016 | 3.2% | +8.6% |
| 2017 | 3.4% | +8.3% |
| 2018 | 3.2% | -7.5% |
| 2019 | 2.3% | -27.2% |
| 2020 | -0.7% | -130.3% |
| 2021 | 4.6% | -758.8% |
| 2022 | 2.7% | -40.9% |
| 2023 | 1.6% | -42.0% |
| 2024 | 2.0% | +26.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.9% | 0.8% | 9.2% | 10 |
| 2010s | 3.5% | 2.3% | 7.0% | 10 |
| 2020s | 2.0% | -0.7% | 4.6% | 5 |
Countries ranked near Republic of Korea
More economy & growth data for Republic of Korea
- Gross capital formation (constant 2015 US$), annual growth rate -1.74 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.2815 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 10,198 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 0.6183 % change on previous year (2025)
- Imports of goods and services (current US$), per unit of GDP 0.406 current US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per capita 14,708 current US$ per person (2025)
- Imports of goods and services (current LCU), annual growth rate 4.98 % change on previous year (2025)
- Imports of goods and services (current LCU), per unit of GDP 577.49 current LCU per US$ of GDP (2025)
- Imports of goods and services (current LCU), per capita 20.92 million current LCU per person (2025)
- Imports of goods and services (constant 2015 US$), annual growth rate 3.84 % change on previous year (2025)
Frequently asked questions
- What is annual gdp growth in Republic of Korea?
- Annual gdp growth in Republic of Korea was 2.0% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest annual gdp growth recorded in Republic of Korea?
- The highest recorded value was 9.2% in 2000.
- What is the lowest annual gdp growth recorded in Republic of Korea?
- The lowest recorded value was -0.7% in 2020.
- How does Republic of Korea rank for annual gdp growth?
- Republic of Korea ranks 153rd out of 228 countries with data for 2024.
- Is annual gdp growth rising or falling in Republic of Korea?
- Over the last ten years it is down 37.7%. The long-run trend across the full record is volatile.
- Where does this Republic of Korea data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Annual GDP growth (%). Statizoid updates them automatically from the source API.
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