Gross Domestic Product — Value US$ in Republic of Korea

Republic of Korea: Gross Domestic Product — Value US$ was 1.87 million million USD in 2024. ◆ Volatile

Latest (2024)
1.87 million million USD
Change on year
up 1.6%
World rank
12th
of 203 countries
All-time high
1.94 million million USD
in 2021
All-time low
9,085 million USD
in 1970
Years of data
55
1970–2024

Gross Domestic Product — Value US$ in Republic of Korea, 1970–2024

0500.0k1.0M1.5M2.0M197019972024

Source: Food and Agriculture Organization of the United Nations. Measured in million USD.

Analysis

The most recent figure for gross domestic product — value us$ in Republic of Korea is 1.87 million million USD, measured in 2024.

Compared with earlier readings it is up 1.6% on the previous year and up 20.1% over ten years.

Over the whole period, gross domestic product — value us$ in Republic of Korea peaked at 1.94 million million USD in 2021 and was at its lowest, 9,085 million USD, in 1970.

That places Republic of Korea 12th out of 203 countries with data for 2024, 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 — Value US$ in Republic of Korea, year by year

Annual values for Gross Domestic Product — Value US$ in Republic of Korea, 1970 to 2024.
Year million USD Change
1970 9,085 million USD
1971 10,005 million USD +10.1%
1972 10,990 million USD +9.8%
1973 14,068 million USD +28.0%
1974 19,861 million USD +41.2%
1975 22,126 million USD +11.4%
1976 30,371 million USD +37.3%
1977 39,064 million USD +28.6%
1978 52,825 million USD +35.2%
1979 68,084 million USD +28.9%
1980 66,517 million USD -2.3%
1981 74,287 million USD +11.7%
1982 79,912 million USD +7.6%
1983 89,621 million USD +12.1%
1984 99,750 million USD +11.3%
1985 103,764 million USD +4.0%
1986 119,966 million USD +15.6%
1987 152,241 million USD +26.9%
1988 205,479 million USD +35.0%
1989 254,236 million USD +23.7%
1990 292,064 million USD +14.9%
1991 340,863 million USD +16.7%
1992 366,912 million USD +7.6%
1993 405,772 million USD +10.6%
1994 478,988 million USD +18.0%
1995 586,301 million USD +22.4%
1996 631,194 million USD +7.7%
1997 590,070 million USD -6.5%
1998 396,803 million USD -32.8%
1999 515,427 million USD +29.9%
2000 597,802 million USD +16.0%
2001 567,655 million USD -5.0%
2002 649,747 million USD +14.5%
2003 728,497 million USD +12.1%
2004 822,583 million USD +12.9%
2005 971,540 million USD +18.1%
2006 1.09 million million USD +12.7%
2007 1.22 million million USD +11.5%
2008 1.09 million million USD -10.4%
2009 982,822 million USD -10.1%
2010 1.19 million million USD +21.4%
2011 1.31 million million USD +9.6%
2012 1.34 million million USD +2.2%
2013 1.43 million million USD +7.4%
2014 1.56 million million USD +8.5%
2015 1.54 million million USD -1.1%
2016 1.58 million million USD +2.6%
2017 1.71 million million USD +8.3%
2018 1.82 million million USD +6.7%
2019 1.75 million million USD -4.0%
2020 1.74 million million USD -0.4%
2021 1.94 million million USD +11.4%
2022 1.80 million million USD -7.4%
2023 1.84 million million USD +2.2%
2024 1.87 million million USD +1.6%

Averages by decade

DecadeAverage LowestHighest Years
1970s 27,648 million USD 9,085 million USD 68,084 million USD 10
1980s 124,577 million USD 66,517 million USD 254,236 million USD 10
1990s 460,439 million USD 292,064 million USD 631,194 million USD 10
2000s 872,944 million USD 567,655 million USD 1.22 million million USD 10
2010s 1.52 million million USD 1.19 million million USD 1.82 million million USD 10
2020s 1.84 million million USD 1.74 million million USD 1.94 million million USD 5

Countries ranked near Republic of Korea

  1. 9 Brazil 2.18 million million USD compare
  2. 10 Democratic Republic of the Congo 71,197 million USD compare
  3. 10 Australia and New Zealand 2.09 million million USD compare
  4. 11 Russian Federation 2.09 million million USD compare
  5. 13 Mexico 1.85 million million USD compare
  6. 14 Australia 1.84 million million USD compare
  7. 15 Spain 1.72 million million USD compare

See the full ranking of 252 places →

More economy & growth data for Republic of Korea

All data for Republic of Korea →

Frequently asked questions

What is gross domestic product — value us$ in Republic of Korea?
Gross domestic product — value us$ in Republic of Korea was 1.87 million million USD in 2024, according to Food and Agriculture Organization of the United Nations.
What is the highest gross domestic product — value us$ recorded in Republic of Korea?
The highest recorded value was 1.94 million million USD in 2021.
What is the lowest gross domestic product — value us$ recorded in Republic of Korea?
The lowest recorded value was 9,085 million USD in 1970.
How does Republic of Korea rank for gross domestic product — value us$?
Republic of Korea ranks 12th out of 203 countries with data for 2024.
Is gross domestic product — value us$ rising or falling in Republic of Korea?
Over the last ten years it is up 20.1%. The long-run trend across the full record is volatile.
Where does this Republic of Korea data come from?
The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value US$. Statizoid updates them automatically from the source API.

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Gross Domestic Product — Value US$ in Republic of Korea. Statizoid, drawing on Food and Agriculture Organization of the United Nations. Retrieved 04 September 2026, from https://economy.statizoid.com/stat/gross-domestic-product-value-us/republic-of-korea/

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About this data

Indicator
Gross Domestic Product — Value US$
Unit
million USD
Source
Food and Agriculture Organization of the United Nations
Licence
CC BY-NC-SA 3.0 IGO (FAO)
Coverage
252 places, 12,899 data points, 1970–2024
Last refreshed

The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).