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  3. South Korea

Economy of South Korea. Statistics, Data and Indicators

flag
South Korea
84AA Credit rank #26
155.38 Quality of life #27
39 Corruption rank#42
5 Ease of doing business#5
South Korea


South Korea Major Economic Indicators

Indicator Data Period
GDP Value 1642 USD Billion 2019
GDP Annual Growth Rate -2.7 % 2Q/20
GDP Growth Rate -3.2 % 2Q/20
GDP per capita 28606 USD 2019
Inflation Rate YoY 0.7 % Aug/20
Interest Rate 0.5 % Sep/20
Unemployment Rate 3.2 % Aug/20
Wages 3615931 KRW/Month | 3113.591 USD/Month 2Q/20
Balance of Trade 4116 USD Million | 4.116 B USD Aug/20
Current Account 7450 USD Million | 7.45 B USD Jul/20
Foreign Exchange Reserves 418950 USD Million | 418.95 B USD Aug/20


GDP
vvp
1642
USD Billion
#14 from 174 countries
GDP per capita
vvp
28606
USD
#35 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 1642 USD Billion 2019
GDP Annual Growth Rate -2.7 % 2Q/20
GDP Growth Rate -3.2 % 2Q/20
GDP per capita 28606 USD 2019
Gross National Product 443090 KRW Billion | 381.534 USD Billion 2Q/20
GDP Constant Prices 448209 KRW Billion | 385.942 B USD 2Q/20
GDP per capita PPP 42661 USD 2019
GDP From Agriculture  7621 KRW Billion | 6.562 B USD 2Q/20
GDP From Construction  22715 KRW Billion | 19.559 B USD 2Q/20
GDP From Manufacturing  113194 KRW Billion | 97.469 B USD 2Q/20
GDP From Mining  436 KRW Billion | 0.375 B USD 2Q/20
GDP From Public Administration  27856 KRW Billion | 23.986 B USD 1Q/20
GDP From Services  255006 KRW Billion | 219.579 B USD 2Q/20
GDP From Transport  12726 KRW Billion | 10.958 B USD 2Q/20
GDP From Utilities  12137 KRW Billion | 10.451 B USD 2Q/20


Budget Indicators

Indicator Data Period
Government Debt to GDP 36.6 % 2018
Government Budget Value -75607 KRW Billion | -65.103 USD Billion Jul/20
Government Spending 80152 KRW Billion | 69.017 USD Billion 2Q/20
Government Revenues 261424 KRW Billion | 225.106 USD Billion Jul/20
Fiscal Expenditure  337031 KRW Billion | 290.209 B USD Jul/20
Government Budget to GDP -2.6 % 2019
Government Spending to GDP 30.27 % 2017
Military Expenditure 41157 USD Million | 41.157 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 106 index points Aug/20
Export Prices 94.92 index points Aug/20
Food Inflation 6.6 % Aug/20
Gasoline Prices 1.15 USD/Liter Aug/20
GDP Deflator 105 index points 2Q/20
Import Prices 99.33 index points Aug/20
Inflation Rate YoY 0.7 % Aug/20
Producer Prices 103 index points Aug/20
Inflation Rate Mom 0.6 % Aug/20
Core Consumer Prices 106 Index Points Aug/20
Core Inflation Rate 0.7 % Jul/20
CPI Housing Utilities 102 Index Points Aug/20
CPI Transportation 99.84 Index Points Aug/20
Inflation Expectations 1.8 % Aug/20
Producer Prices Change  -0.5 % Aug/20


Trade Indicators

Indicator Data Period
Current Account to GDP 3.7 % 2019
Weapons Sales 688 USD Million 2019
Balance of Trade 4116 USD Million | 4.116 USD Billion Aug/20
Capital Flows 9587 USD Million | 9.587 USD Billion Jul/20
Current Account 7450 USD Million | 7.45 USD Billion Jul/20
Exports 39656 USD Million | 39.656 USD Billion Aug/20
External Debt 503055 USD Million | 503.055 USD Billion 2Q/20
Foreign Exchange Reserves 418950 USD Million | 418.95 USD Billion Aug/20
Imports 35540 USD Million | 35.54 USD Billion Aug/20
Terms of Trade  94.4 Index Points Jul/20
Tourism Revenues  496700 USD Million | 496.7 B USD Jul/20
Tourist Arrivals 61012 Persons | 0.061 Million Persons Jul/20


Money Indicators

Indicator Data Period
Bank Lending Rate 2.7 % Jul/20
Gold Reserves 104 Tonnes 2Q/20
Interbank Rate 0.66 % Sep/20
Interest Rate 0.5 % Sep/20
Loans to Private Sector 9610015 KRW HML | 827.495 USD Billion Aug/20
Money Supply M0 127123904 KRW Million | 109.463 USD Billion Jul/20
Money Supply M1 1091252 KRW Billion | 939.651 USD Billion Jul/20
Money Supply M2 3097825 KRW Billion | 2667.462 USD Billion Jul/20
Money Supply M3 4351324 KRW Billion | 3746.82 USD Billion Jul/20
Central Bank Balance Sheet 529853 KRW Billion | 456.244 B USD Jul/20
Deposit Interest Rate 1.02 % Jun/20
Foreign Direct Investment 4385466 USD Thousand | 4.385 B USD 2Q/20


Labor Indicators

Indicator Data Period
Minimum Wages 8590 KRW/Hour | 1183.463 USD/Month 2020
Retirement Age Men 60 2019
Retirement Age Women 60 2019
Unemployment Rate 3.2 % Aug/20
Wages 3615931 KRW/Month | 3113.591 USD/Month 2Q/20
Youth Unemployment Rate 7.7 % Aug/20
Employed Persons 26922 Thousand Person | 26.922 Million Person Aug/20
Employment Rate  60.4 % Jun/20
Labor Force Participation Rate 62.4 % Aug/20
Unemployed Persons 891 Thousand Persons | 0.891 Million Persons Aug/20
Wages in Manufacturing 3803701 KRW/Month | 3275.275 USD/Month 2Q/20


Taxes

Indicator Data Period
Corporate Tax Rate 25 % 2020
Personal Income Tax Rate 42 % 2019
Sales Tax Rate 10 % 2020
Social Security Rate 18.94 % 2020
Social Security Rate For Companies 9.96 % 2020
Social Security Rate For Employees 8.98 % 2020


Production Indicators

Indicator Data Period
Electricity Production 22356 GWh Jul/20
Industrial Production -2.5 % Jul/20
Mining Production -6.8 % May/20
Steel Production 5526 Thousand Tonnes Jul/20
Car Production 3950617 Units | 3950.617 Units 2019
Industrial Production (MoM) 1.6 % Jul/20


Business Indicators

Indicator Data Period
Bankruptcies 18 companies Aug/20
Business Confidence 66 index points Aug/20
Corruption Index 59 index points 2019
Corruption Rank 39 place 2019
Ease of Doing Business 5 place 2019
Manufacturing PMI 48.5 index points Aug/20
Manufacturing Production -2.4 % Jul/20
Competitiveness Index 79.62 Index Points 2019
Competitiveness Rank 13 2019
Leading Economic Index  120 Index Points Jul/20


Consumer Indicators

Indicator Data Period
Consumer Confidence 88.2 index points Aug/20
Private Debt To GDP 261 % 2018
Retail Sales MoM -6 % Jul/20
Retail Sales YoY 0.5 % Jul/20
Consumer Credit 1637276 KRW Billion | 1409.819 USD Billion 2Q/20
Consumer Spending 213186 KRW Billion | 183.569 USD Billion 2Q/20
Disposable Personal Income 1925873 KRW Billion | 1658.323 B USD 2019
Households Debt To GDP 95.9 % 1Q/20


Housing Market

Indicator Data Period
Construction Output -0.6 % Jul/20


Gold Reserves
gold_reserve_icon
104
Tonnes
#35 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
418.95
USD Billion
#9 from 114 countries


Government Budget Value
balance_icon
-65.103
USD Billion
#104 from 113 countries
Inflation Rate
inflation_icon
0.7
%
#152 from 174 countries


Interest Rate
discount_rate_icon
0.5
%
#125 from 159 countries
Bank Lending Rate
credit_rate_icon
2.7%
#34 from 55 countries


Unemployment Rate
unemployment_icon
3.2
%
#138 from 171 countries
Wages
salary_icon
3113.591
USD/Month
#16 from 82 countries


Retirement Age
man_icon
woman_icon
60
60
men
women
Taxes
company_icon
private_icon
25%
42%
company profits
income of individuals


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