Value Added (Total Manufacturing) — Value US$ in Republic of Korea
Republic of Korea: Value Added (Total Manufacturing) — Value US$ was 470,928 million USD in 2023. ◆ Volatile
Value Added (Total Manufacturing) — Value US$ in Republic of Korea, 1970–2023
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
The most recent figure for value added (total manufacturing) — value us$ in Republic of Korea is 470,928 million USD, measured in 2023.
Compared with earlier readings it is down 1.2% on the previous year and up 13.7% over ten years.
Over the whole period, value added (total manufacturing) — value us$ in Republic of Korea peaked at 509,820 million USD in 2021 and was at its lowest, 1,571 million USD, in 1970.
That places Republic of Korea 4th out of 203 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.
Value Added (Total Manufacturing) — Value US$ in Republic of Korea, year by year
| Year | million USD | Change |
|---|---|---|
| 1970 | 1,571 million USD | — |
| 1971 | 1,656 million USD | +5.5% |
| 1972 | 2,042 million USD | +23.3% |
| 1973 | 2,996 million USD | +46.7% |
| 1974 | 4,101 million USD | +36.9% |
| 1975 | 4,418 million USD | +7.7% |
| 1976 | 6,465 million USD | +46.3% |
| 1977 | 8,177 million USD | +26.5% |
| 1978 | 11,109 million USD | +35.9% |
| 1979 | 14,663 million USD | +32.0% |
| 1980 | 14,565 million USD | -0.7% |
| 1981 | 16,171 million USD | +11.0% |
| 1982 | 17,430 million USD | +7.8% |
| 1983 | 20,584 million USD | +18.1% |
| 1984 | 24,545 million USD | +19.2% |
| 1985 | 25,241 million USD | +2.8% |
| 1986 | 30,646 million USD | +21.4% |
| 1987 | 40,801 million USD | +33.1% |
| 1988 | 56,961 million USD | +39.6% |
| 1989 | 68,001 million USD | +19.4% |
| 1990 | 73,712 million USD | +8.4% |
| 1991 | 86,914 million USD | +17.9% |
| 1992 | 90,951 million USD | +4.6% |
| 1993 | 101,519 million USD | +11.6% |
| 1994 | 123,267 million USD | +21.4% |
| 1995 | 154,261 million USD | +25.1% |
| 1996 | 159,196 million USD | +3.2% |
| 1997 | 148,308 million USD | -6.8% |
| 1998 | 102,266 million USD | -31.0% |
| 1999 | 132,933 million USD | +30.0% |
| 2000 | 158,962 million USD | +19.6% |
| 2001 | 142,695 million USD | -10.2% |
| 2002 | 160,986 million USD | +12.8% |
| 2003 | 177,983 million USD | +10.6% |
| 2004 | 217,281 million USD | +22.1% |
| 2005 | 253,492 million USD | +16.7% |
| 2006 | 281,542 million USD | +11.1% |
| 2007 | 316,471 million USD | +12.4% |
| 2008 | 285,174 million USD | -9.9% |
| 2009 | 258,524 million USD | -9.3% |
| 2010 | 335,173 million USD | +29.6% |
| 2011 | 379,067 million USD | +13.1% |
| 2012 | 383,789 million USD | +1.2% |
| 2013 | 414,124 million USD | +7.9% |
| 2014 | 440,047 million USD | +6.3% |
| 2015 | 428,233 million USD | -2.7% |
| 2016 | 434,472 million USD | +1.5% |
| 2017 | 479,406 million USD | +10.3% |
| 2018 | 506,544 million USD | +5.7% |
| 2019 | 461,754 million USD | -8.8% |
| 2020 | 448,230 million USD | -2.9% |
| 2021 | 509,820 million USD | +13.7% |
| 2022 | 476,791 million USD | -6.5% |
| 2023 | 470,928 million USD | -1.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5,720 million USD | 1,571 million USD | 14,663 million USD | 10 |
| 1980s | 31,495 million USD | 14,565 million USD | 68,001 million USD | 10 |
| 1990s | 117,333 million USD | 73,712 million USD | 159,196 million USD | 10 |
| 2000s | 225,311 million USD | 142,695 million USD | 316,471 million USD | 10 |
| 2010s | 426,261 million USD | 335,173 million USD | 506,544 million USD | 10 |
| 2020s | 476,442 million USD | 448,230 million USD | 509,820 million USD | 4 |
Countries ranked near Republic of Korea
More economy & growth data for Republic of Korea
- Gross Fixed Capital Formation — Annual growth US$, 2015 prices 4 % (2024)
- Gross Fixed Capital Formation — Annual growth US$ 1.5 % (2024)
- Gross Fixed Capital Formation — Annual growth Standard Local 4 % (2024)
- Gross Fixed Capital Formation — Annual growth Standard Local Currency 6.06 % (2024)
- Gross Fixed Capital Formation — Share of GDP Standard Local Currency 29.86 % (2024)
- Gross Fixed Capital Formation — Share of GDP Standard Local Currency 32.07 % (2024)
- Gross Fixed Capital Formation — Share of GDP US$, 2015 prices 29.86 % (2024)
- Gross Fixed Capital Formation — Share of GDP US$ 32.07 % (2024)
- Gross Fixed Capital Formation — Value US$, 2015 prices 571,534 million USD (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency, 2015 646.38 million million SLC (2024)
Frequently asked questions
- What is value added (total manufacturing) — value us$ in Republic of Korea?
- Value added (total manufacturing) — value us$ in Republic of Korea was 470,928 million USD in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest value added (total manufacturing) — value us$ recorded in Republic of Korea?
- The highest recorded value was 509,820 million USD in 2021.
- What is the lowest value added (total manufacturing) — value us$ recorded in Republic of Korea?
- The lowest recorded value was 1,571 million USD in 1970.
- How does Republic of Korea rank for value added (total manufacturing) — value us$?
- Republic of Korea ranks 4th out of 203 countries with data for 2023.
- Is value added (total manufacturing) — value us$ rising or falling in Republic of Korea?
- Over the last ten years it is up 13.7%. 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 Value Added (Total Manufacturing) — Value US$. Statizoid updates them automatically from the source API.
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About this data
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).