Annual gdp growth in South Korea
South Korea: Annual gdp growth was 2 in 2024. ◆ Volatile
Annual gdp growth in South Korea, 2000–2024
Source: Our World in Data.
Analysis
The most recent figure for annual gdp growth in South Korea is 2, measured in 2024.
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 South Korea peaked at 9.2 in 2000 and was at its lowest, -0.7, in 2020.
That places South Korea 144th out of 212 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 South Korea, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 9.2 | — |
| 2001 | 4.73 | -48.6% |
| 2002 | 7.74 | +63.6% |
| 2003 | 3.07 | -60.3% |
| 2004 | 5.18 | +68.7% |
| 2005 | 4.36 | -15.8% |
| 2006 | 5.25 | +20.4% |
| 2007 | 5.84 | +11.2% |
| 2008 | 3 | -48.6% |
| 2009 | 0.82 | -72.7% |
| 2010 | 6.98 | +751.2% |
| 2011 | 3.69 | -47.1% |
| 2012 | 2.55 | -30.9% |
| 2013 | 3.29 | +29.0% |
| 2014 | 3.21 | -2.4% |
| 2015 | 2.92 | -9.0% |
| 2016 | 3.17 | +8.6% |
| 2017 | 3.43 | +8.2% |
| 2018 | 3.18 | -7.3% |
| 2019 | 2.31 | -27.4% |
| 2020 | -0.7 | -130.3% |
| 2021 | 4.61 | -758.6% |
| 2022 | 2.73 | -40.8% |
| 2023 | 1.58 | -42.1% |
| 2024 | 2 | +26.6% |
South Korea compared with similar countries
- South Korea's 2 is below the median for high income countries, which is 2.14, 93% of the median. (83 countries reporting)
- South Korea's 2 is below the median for East Asia & Pacific, which is 3.26, 61% of the median. (36 countries reporting)
Biggest year-on-year movements
Years where Annual gdp growth in South 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 | +758.6% | -0.7 | 4.61 |
| 2010 | +751.2% | 0.82 | 6.98 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.92 | 0.82 | 9.2 | 10 |
| 2010s | 3.47 | 2.31 | 6.98 | 10 |
| 2020s | 2.04 | -0.7 | 4.61 | 5 |
Countries ranked near South Korea
More economy & growth data for South Korea
- Real gdp growth, annual growth rate -49.75 % change on previous year (2025)
- SDRs holdings, US dollar, annual growth rate 7.89 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0085 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 307.17 units per person (2025)
- SDRs holdings, SDR, annual growth rate 2.74 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0062 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 224.29 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 4.58 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0047 units per US$ of GDP (2025)
- IMF holdings of currency, US dollar, per capita 168.75 units per person (2025)
Frequently asked questions
- What is annual gdp growth in South Korea?
- Annual gdp growth in South Korea was 2 in 2024, according to Our World in Data.
- What is the highest annual gdp growth recorded in South Korea?
- The highest recorded value was 9.2 in 2000.
- What is the lowest annual gdp growth recorded in South Korea?
- The lowest recorded value was -0.7 in 2020.
- How does South Korea rank for annual gdp growth?
- South Korea ranks 144th out of 212 countries with data for 2024.
- Is annual gdp growth rising or falling in South Korea?
- Over the last ten years it is down 37.7%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from Our World in Data, published as part of Annual gdp growth. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 25 observations, free to reuse under CC BY 4.0 (Our World in Data).