Gross Domestic Product — Value Standard Local Currency, annual growth in Republic of Korea
Republic of Korea: Gross Domestic Product — Value Standard Local Currency, annual growth was 6.16 % change on previous year in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency, annual growth in Republic of Korea, 1971–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Republic of Korea recorded 6.16 % change on previous year for gross domestic product — value standard local currency, annual growth in 2024.
The figure is up 84.9% on the previous year and up 43.3% over ten years.
Over the whole period, gross domestic product — value standard local currency, annual growth in Republic of Korea peaked at 43.36 % change on previous year in 1974 and was at its lowest, -0.6628 % change on previous year, in 1998.
That places Republic of Korea 130th out of 218 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.
Gross Domestic Product — Value Standard Local Currency, annual growth in Republic of Korea, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 23.11 % change on previous year | — |
| 1972 | 24.32 % change on previous year | +5.3% |
| 1973 | 29.77 % change on previous year | +22.4% |
| 1974 | 43.36 % change on previous year | +45.7% |
| 1975 | 33.31 % change on previous year | -23.2% |
| 1976 | 37.26 % change on previous year | +11.9% |
| 1977 | 28.62 % change on previous year | -23.2% |
| 1978 | 35.22 % change on previous year | +23.1% |
| 1979 | 28.89 % change on previous year | -18.0% |
| 1980 | 22.67 % change on previous year | -21.5% |
| 1981 | 25.15 % change on previous year | +11.0% |
| 1982 | 15.49 % change on previous year | -38.4% |
| 1983 | 18.99 % change on previous year | +22.6% |
| 1984 | 15.64 % change on previous year | -17.6% |
| 1985 | 12.29 % change on previous year | -21.4% |
| 1986 | 17.13 % change on previous year | +39.4% |
| 1987 | 18.43 % change on previous year | +7.5% |
| 1988 | 20.02 % change on previous year | +8.7% |
| 1989 | 13.58 % change on previous year | -32.2% |
| 1990 | 21.09 % change on previous year | +55.3% |
| 1991 | 20.92 % change on previous year | -0.8% |
| 1992 | 14.59 % change on previous year | -30.3% |
| 1993 | 13.69 % change on previous year | -6.2% |
| 1994 | 18.22 % change on previous year | +33.1% |
| 1995 | 17.45 % change on previous year | -4.2% |
| 1996 | 12.29 % change on previous year | -29.6% |
| 1997 | 10.39 % change on previous year | -15.5% |
| 1998 | -0.6628 % change on previous year | -106.4% |
| 1999 | 10.11 % change on previous year | -1625.1% |
| 2000 | 10.22 % change on previous year | +1.1% |
| 2001 | 8.43 % change on previous year | -17.5% |
| 2002 | 10.99 % change on previous year | +30.3% |
| 2003 | 6.75 % change on previous year | -38.6% |
| 2004 | 8.61 % change on previous year | +27.6% |
| 2005 | 5.55 % change on previous year | -35.6% |
| 2006 | 5.07 % change on previous year | -8.5% |
| 2007 | 8.5 % change on previous year | +67.6% |
| 2008 | 6.03 % change on previous year | -29.0% |
| 2009 | 4.35 % change on previous year | -27.9% |
| 2010 | 9.89 % change on previous year | +127.3% |
| 2011 | 5.01 % change on previous year | -49.3% |
| 2012 | 3.87 % change on previous year | -22.7% |
| 2013 | 4.4 % change on previous year | +13.7% |
| 2014 | 4.3 % change on previous year | -2.4% |
| 2015 | 6.24 % change on previous year | +45.2% |
| 2016 | 5.3 % change on previous year | -15.1% |
| 2017 | 5.52 % change on previous year | +4.2% |
| 2018 | 3.76 % change on previous year | -31.9% |
| 2019 | 1.68 % change on previous year | -55.5% |
| 2020 | 0.8762 % change on previous year | -47.7% |
| 2021 | 7.94 % change on previous year | +806.2% |
| 2022 | 4.58 % change on previous year | -42.3% |
| 2023 | 3.33 % change on previous year | -27.3% |
| 2024 | 6.16 % change on previous year | +84.9% |
Biggest year-on-year movements
Years where Gross Domestic Product — Value Standard Local Currency, annual 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 |
|---|---|---|---|
| 1999 | +1625.1% | -0.6628 % change on previous year | 10.11 % change on previous year |
| 2021 | +806.2% | 0.8762 % change on previous year | 7.94 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 31.54 % change on previous year | 23.11 % change on previous year | 43.36 % change on previous year | 9 |
| 1980s | 17.94 % change on previous year | 12.29 % change on previous year | 25.15 % change on previous year | 10 |
| 1990s | 13.81 % change on previous year | -0.6628 % change on previous year | 21.09 % change on previous year | 10 |
| 2000s | 7.45 % change on previous year | 4.35 % change on previous year | 10.99 % change on previous year | 10 |
| 2010s | 5 % change on previous year | 1.68 % change on previous year | 9.89 % change on previous year | 10 |
| 2020s | 4.58 % change on previous year | 0.8762 % change on previous year | 7.94 % change on previous year | 5 |
Countries ranked near Republic of Korea
- 127 Netherlands (Kingdom of the) 6.23 % change on previous year compare
- 128 Spain 6.23 % change on previous year compare
- 129 Micronesia (Federated States of) 6.2 % change on previous year compare
- 131 Indonesia 5.97 % change on previous year compare
- 132 Turkmenistan 5.96 % change on previous year compare
- 133 Cayman Islands 5.95 % change on previous year compare
More economy & growth data for Republic of Korea
- Gross Fixed Capital Formation Deflator — Value Standard Local 1.98 % change on previous year (2024)
- Gross Fixed Capital Formation Deflator — Value US$, 2015 prices -2.41 % change on previous year (2024)
- Gross Domestic Product — Value US$, 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)
- Gross Fixed Capital Formation — Value Standard Local Currency, 2015 4 % change on previous year (2024)
- Gross Fixed Capital Formation — Value US$, 2015 prices, annual growth 4 % change on previous year (2024)
- Gross Fixed Capital Formation — Annual growth US$, 2015 prices 4 % (2024)
Frequently asked questions
- What is gross domestic product — value standard local currency, annual growth in Republic of Korea?
- Gross domestic product — value standard local currency, annual growth in Republic of Korea was 6.16 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gross domestic product — value standard local currency, annual growth recorded in Republic of Korea?
- The highest recorded value was 43.36 % change on previous year in 1974.
- What is the lowest gross domestic product — value standard local currency, annual growth recorded in Republic of Korea?
- The lowest recorded value was -0.6628 % change on previous year in 1998.
- How does Republic of Korea rank for gross domestic product — value standard local currency, annual growth?
- Republic of Korea ranks 130th out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency, annual growth rising or falling in Republic of Korea?
- Over the last ten years it is up 43.3%. The long-run trend across the full record is volatile.
- Where does this Republic of Korea data come from?
- The figures come from Statizoid (derived), published as part of Gross Domestic Product — Value Standard Local Currency, annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Gross Domestic Product — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross Domestic Product — Value Standard Local Currency Food and Agriculture Organization of the United Nations
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Gross Domestic Product — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.