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%.
That represents a change of 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.
Republic of Korea ranks 154th of 230 countries on this measure, 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% |
Biggest year-on-year movements
Years where Annual GDP growth (%) in Republic of Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2021 | +758.8% | -0.7% | 4.6% |
| 2010 | +751.6% | 0.8% | 7.0% |
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
- GDP Deflator — Value Standard Local Currency, 2015 prices, annual 4.05 % change on previous year (2024)
- GDP Deflator — Value US$, 2015 prices, annual growth rate -0.4224 % change on previous year (2024)
- Gross Fixed Capital Formation Deflator — Value Standard Local 1.98 % change on previous year (2024)
- Gross Fixed Capital Formation Deflator — Value US$, 2015 prices -2.41 % change on previous year (2024)
- Gross Domestic Product — Value Standard Local Currency, annual growth 6.16 % change on previous year (2024)
- Gross Domestic Product — Value US$, annual growth rate 1.59 % change on previous year (2024)
- Gross Domestic Product — Value Standard Local Currency, 2015 prices 2.03 % change on previous year (2024)
- Gross Domestic Product — Value US$, 2015 prices, annual growth rate 2.03 % change on previous year (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency, annual 6.06 % change on previous year (2024)
- Gross Fixed Capital Formation — Value US$, annual growth rate 1.5 % change on previous year (2024)
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 154th out of 230 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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