Gross domestic product (GDP) in South Korea
South Korea: Gross domestic product (GDP) was 2.91 trillion international-$ in 2021 prices in 2023. ◆ Volatile
Latest (2023)
2.91 trillion international-$ in 2021 prices
Change on year
up 1.5%
World rank
13th
of 184 countries
All-time high
2.91 trillion international-$ in 2021 prices
in 2023
All-time low
26.43 billion international-$ in 2021 prices
in 1953
Years of data
71
1953–2023
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.
Gross domestic product (GDP) in South Korea, year by year
| Year | international-$ in 2021 prices | Change |
|---|---|---|
| 1953 | 26.43 billion international-$ in 2021 prices | — |
| 1954 | 27.41 billion international-$ in 2021 prices | +3.7% |
| 1955 | 29.48 billion international-$ in 2021 prices | +7.6% |
| 1956 | 30.24 billion international-$ in 2021 prices | +2.6% |
| 1957 | 32.95 billion international-$ in 2021 prices | +9.0% |
| 1958 | 34.16 billion international-$ in 2021 prices | +3.7% |
| 1959 | 34.86 billion international-$ in 2021 prices | +2.1% |
| 1960 | 35.21 billion international-$ in 2021 prices | +1.0% |
| 1961 | 37.73 billion international-$ in 2021 prices | +7.1% |
| 1962 | 38.06 billion international-$ in 2021 prices | +0.9% |
| 1963 | 42.48 billion international-$ in 2021 prices | +11.6% |
| 1964 | 46.26 billion international-$ in 2021 prices | +8.9% |
| 1965 | 48.69 billion international-$ in 2021 prices | +5.3% |
| 1966 | 55.26 billion international-$ in 2021 prices | +13.5% |
| 1967 | 58.30 billion international-$ in 2021 prices | +5.5% |
| 1968 | 65.14 billion international-$ in 2021 prices | +11.7% |
| 1969 | 74.14 billion international-$ in 2021 prices | +13.8% |
| 1970 | 80.55 billion international-$ in 2021 prices | +8.6% |
| 1971 | 95.07 billion international-$ in 2021 prices | +18.0% |
| 1972 | 107.39 billion international-$ in 2021 prices | +13.0% |
| 1973 | 131.40 billion international-$ in 2021 prices | +22.4% |
| 1974 | 156.86 billion international-$ in 2021 prices | +19.4% |
| 1975 | 181.06 billion international-$ in 2021 prices | +15.4% |
| 1976 | 196.54 billion international-$ in 2021 prices | +8.6% |
| 1977 | 214.08 billion international-$ in 2021 prices | +8.9% |
| 1978 | 233.18 billion international-$ in 2021 prices | +8.9% |
| 1979 | 245.85 billion international-$ in 2021 prices | +5.4% |
| 1980 | 233.23 billion international-$ in 2021 prices | -5.1% |
| 1981 | 248.80 billion international-$ in 2021 prices | +6.7% |
| 1982 | 267.55 billion international-$ in 2021 prices | +7.5% |
| 1983 | 301.07 billion international-$ in 2021 prices | +12.5% |
| 1984 | 331.10 billion international-$ in 2021 prices | +10.0% |
| 1985 | 348.07 billion international-$ in 2021 prices | +5.1% |
| 1986 | 410.13 billion international-$ in 2021 prices | +17.8% |
| 1987 | 476.07 billion international-$ in 2021 prices | +16.1% |
| 1988 | 542.45 billion international-$ in 2021 prices | +13.9% |
| 1989 | 600.69 billion international-$ in 2021 prices | +10.7% |
| 1990 | 677.26 billion international-$ in 2021 prices | +12.7% |
| 1991 | 770.87 billion international-$ in 2021 prices | +13.8% |
| 1992 | 834.73 billion international-$ in 2021 prices | +8.3% |
| 1993 | 916.87 billion international-$ in 2021 prices | +9.8% |
| 1994 | 1.03 trillion international-$ in 2021 prices | +12.6% |
| 1995 | 1.16 trillion international-$ in 2021 prices | +12.4% |
| 1996 | 1.30 trillion international-$ in 2021 prices | +11.7% |
| 1997 | 1.27 trillion international-$ in 2021 prices | -1.9% |
| 1998 | 1.12 trillion international-$ in 2021 prices | -11.8% |
| 1999 | 1.25 trillion international-$ in 2021 prices | +11.0% |
| 2000 | 1.34 trillion international-$ in 2021 prices | +8.0% |
| 2001 | 1.39 trillion international-$ in 2021 prices | +3.2% |
| 2002 | 1.50 trillion international-$ in 2021 prices | +8.3% |
| 2003 | 1.56 trillion international-$ in 2021 prices | +4.0% |
| 2004 | 1.66 trillion international-$ in 2021 prices | +6.3% |
| 2005 | 1.80 trillion international-$ in 2021 prices | +8.0% |
| 2006 | 1.86 trillion international-$ in 2021 prices | +3.7% |
| 2007 | 1.97 trillion international-$ in 2021 prices | +6.0% |
| 2008 | 1.99 trillion international-$ in 2021 prices | +0.5% |
| 2009 | 1.92 trillion international-$ in 2021 prices | -3.3% |
| 2010 | 2.07 trillion international-$ in 2021 prices | +7.5% |
| 2011 | 2.07 trillion international-$ in 2021 prices | +0.3% |
| 2012 | 2.09 trillion international-$ in 2021 prices | +0.7% |
| 2013 | 2.04 trillion international-$ in 2021 prices | -2.1% |
| 2014 | 2.15 trillion international-$ in 2021 prices | +5.1% |
| 2015 | 2.28 trillion international-$ in 2021 prices | +6.3% |
| 2016 | 2.36 trillion international-$ in 2021 prices | +3.5% |
| 2017 | 2.45 trillion international-$ in 2021 prices | +3.7% |
| 2018 | 2.54 trillion international-$ in 2021 prices | +3.6% |
| 2019 | 2.64 trillion international-$ in 2021 prices | +4.0% |
| 2020 | 2.67 trillion international-$ in 2021 prices | +1.0% |
| 2021 | 2.80 trillion international-$ in 2021 prices | +4.9% |
| 2022 | 2.87 trillion international-$ in 2021 prices | +2.6% |
| 2023 | 2.91 trillion international-$ in 2021 prices | +1.5% |
South Korea compared with similar countries
- South Korea's 2.91 trillion international-$ in 2021 prices is above the median for high income countries, which is 277.84 billion international-$ in 2021 prices, 10.5× the median. (66 countries reporting)
- South Korea's 2.91 trillion international-$ in 2021 prices is above the median for East Asia & Pacific, which is 596.79 billion international-$ in 2021 prices, 4.9× the median. (19 countries reporting)
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
- 14 Mexico 2.60 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
- Foreign direct investment, net outflows (BoP, current US$), gaps 41.23 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.022 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 797.74 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 15.80 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 22.87 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0084 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 305.78 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 4.39 % change on previous year (2025)
- Total reserves (includes gold, current US$), per unit of GDP 0.2332 includes gold, current US$ per US$ of GDP (2025)
- Total reserves (includes gold, current US$), per capita 8,447 includes gold, current US$ per person (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.
Download this data
CSV · JSON — 71 observations, free to reuse under CC BY 4.0 (Our World in Data).
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.