Gross domestic product (GDP) in South Korea
South Korea: Gross domestic product (GDP) was 2.91 trillion international-$ in 2021 prices in 2023. ◆ Volatile
Gross domestic product (GDP) in South Korea, 1953–2023
Source: Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
In 2023, gross domestic product (gdp) in South Korea stood at 2.91 trillion international-$ in 2021 prices. That is the highest value across all 71 years on record.
Compared with earlier readings it is up 1.5% on the previous year and up 42.7% over ten years.
Over the whole period, gross domestic product (gdp) in South Korea peaked at 2.91 trillion international-$ in 2021 prices in 2023 and was at its lowest, 26.43 billion international-$ in 2021 prices, in 1953.
That places South Korea 13th out of 184 countries with data for 2023, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 30.79 billion international-$ in 2021 prices | 26.43 billion international-$ in 2021 prices | 34.86 billion international-$ in 2021 prices | 7 |
| 1960s | 50.13 billion international-$ in 2021 prices | 35.21 billion international-$ in 2021 prices | 74.14 billion international-$ in 2021 prices | 10 |
| 1970s | 164.20 billion international-$ in 2021 prices | 80.55 billion international-$ in 2021 prices | 245.85 billion international-$ in 2021 prices | 10 |
| 1980s | 375.92 billion international-$ in 2021 prices | 233.23 billion international-$ in 2021 prices | 600.69 billion international-$ in 2021 prices | 10 |
| 1990s | 1.03 trillion international-$ in 2021 prices | 677.26 billion international-$ in 2021 prices | 1.30 trillion international-$ in 2021 prices | 10 |
| 2000s | 1.70 trillion international-$ in 2021 prices | 1.34 trillion international-$ in 2021 prices | 1.99 trillion international-$ in 2021 prices | 10 |
| 2010s | 2.27 trillion international-$ in 2021 prices | 2.04 trillion international-$ in 2021 prices | 2.64 trillion international-$ in 2021 prices | 10 |
| 2020s | 2.81 trillion international-$ in 2021 prices | 2.67 trillion international-$ in 2021 prices | 2.91 trillion international-$ in 2021 prices | 4 |
Countries ranked near South Korea
- 10 United Kingdom 3.48 trillion international-$ in 2021 prices compare
- 11 Turkey 3.12 trillion international-$ in 2021 prices compare
- 12 Italy 3.00 trillion international-$ in 2021 prices compare
- 15 Spain 2.19 trillion international-$ in 2021 prices compare
- 16 Canada 2.17 trillion international-$ in 2021 prices compare
More economy & growth data for South Korea
- External balance on goods and services as a percent of GDP 5.2% (2025)
- Inflation of consumer prices 2.1% (2025)
- GDP per capita 37,470 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 27.4% (2025)
- Gross domestic product (GDP) 1.94 trillion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 37,470 constant 2015 US$ (2025)
- DEC alternative conversion factor 1,422 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -6.93 trillion current LCU (2025)
- Net secondary income (Net current transfers from abroad) -4.87 billion current US$ (2025)
- Taxes less subsidies on products 185.85 trillion current LCU (2025)
Frequently asked questions
- What is gross domestic product (gdp) in South Korea?
- Gross domestic product (gdp) in South Korea was 2.91 trillion international-$ in 2021 prices in 2023, according to Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in South Korea?
- The highest recorded value was 2.91 trillion international-$ in 2021 prices in 2023.
- What is the lowest gross domestic product (gdp) recorded in South Korea?
- The lowest recorded value was 26.43 billion international-$ in 2021 prices in 1953.
- How does South Korea rank for gross domestic product (gdp)?
- South Korea ranks 13th out of 184 countries with data for 2023.
- Is gross domestic product (gdp) rising or falling in South Korea?
- Over the last ten years it is up 42.7%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Total economic output of a country or region per year. This data is adjusted for inflation and differences in living costs between countries.