South Korea: Economy

Economic Trivia

South Korea is the most industrialized OECD country.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2014): China, United States, and Japan
Top 3 Exported Goods (2014): Electrical Machinery, Motor Vehicles & Parts, and Industrial Machinery

Top Industries Source: CIA World Factbook

Electronics; Telecommunications; Automobile Production; Chemicals

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $1,683,897,888,108 (2014)
GDP Growth Rate (annual %) 3.31% (2014)
GDP Per Capita, PPP (current international) $33,395 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 13/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 1.272% (2014)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 33.2% (2015)
Real Interest Rate (5 year average %) 3.68% (2014)
Manufacturing, value added (% of GDP) 30.29% (2014)
Current Account Balance (BoP, current US$) $84,373,000,000 (2014)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 26,356,229 (2014)
Employment in Agriculture (% of total employment) 6.1% (2013)
Employment in Industry (% of total employment) 24.4% (2013)
Employment in Services (% of total employment) 69.5% (2013)
Unemployment Rate 3.5% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $638,981,147,256 (2014)
Exports of goods and services (current US$) $714,235,420,730 (2014)
Total Merchandise Trade (% of GDP) 77.864% (2014)
FDI, net inflows (BoP, current US$) $9,898,500,000 (2014)
Commercial Service Exports (current US$) $110,825,900,000 (2014)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, South Korea’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary