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Economy of South Korea. Statistics, Data and Indicators

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


South Korea Major Economic Indicators

Indicator Data Period
GDP Value 1799 USD Billion 2021
GDP Annual Growth Rate 1.4 % 4Q/22
GDP Growth Rate -0.4 % 4Q/22
GDP per capita 32731 USD 2021
Inflation Rate YoY 5.2 % Jan/23
Interest Rate 3.5 % Jan/23
Unemployment Rate 3.3 % Dec/22
Wages 4264096 KRW/Month | 3416.219 USD/Month 3Q/22
Balance of Trade -12690 USD Million | -12.69 B USD Jan/23
Current Account -620 USD Million | -0.62 B USD Nov/22
Foreign Exchange Reserves 429970 USD Million | 429.97 B USD Jan/23


GDP Indicators

Indicator Data Period
GDP Value 1799 USD Billion 2021
GDP Annual Growth Rate 1.4 % 4Q/22
GDP Growth Rate -0.4 % 4Q/22
GDP per capita 32731 USD 2021
Gross National Product 464457 KRW Billion | 372.104 USD Billion 3Q/22
GDP Constant Prices 491674 KRW Billion | 393.909 B USD 4Q/22
GDP per capita PPP 44116 USD 2021
GDP From Agriculture  8135 KRW Billion | 6.517 B USD 4Q/22
GDP From Construction  21932 KRW Billion | 17.571 B USD 4Q/22
GDP From Manufacturing  126403 KRW Billion | 101.269 B USD 4Q/22
GDP From Mining  424 KRW Billion | 0.34 B USD 4Q/22
GDP From Public Administration  29534 KRW Billion | 23.661 B USD 2Q/22
GDP From Services  284030 KRW Billion | 227.553 B USD 4Q/22
GDP From Transport  15871 KRW Billion | 12.715 B USD 4Q/22
GDP From Utilities  12435 KRW Billion | 9.962 B USD 4Q/22


Budget Indicators

Indicator Data Period
Government Debt to GDP 46.9 % 2021
Government Budget Value -50848 KRW Billion | -40.737 USD Billion Nov/22
Government Spending 90145 KRW Billion | 72.22 USD Billion 4Q/22
Government Revenues 544975 KRW Billion | 436.612 USD Billion Nov/22
Fiscal Expenditure  595823 KRW Billion | 477.349 B USD Nov/22
Government Budget to GDP -5.6 % 2021
Government Spending to GDP 38.1 % 2020
Military Expenditure 50227 USD Million | 50.227 B USD 2021


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 110 index points Jan/23
Export Prices 118 index points Dec/22
Food Inflation 5.77 % Jan/23
Gasoline Prices 1.28 USD/Liter Jan/23
GDP Deflator 111 index points 3Q/22
Import Prices 139 index points Dec/22
Inflation Rate YoY 5.2 % Jan/23
Producer Prices 120 index points Dec/22
Inflation Rate Mom 0.8 % Jan/23
Core Consumer Prices 109 Index Points Jan/23
Core Inflation Rate 4.95 % Jan/23
CPI Housing Utilities 112 Index Points Jan/23
CPI Transportation 112 Index Points Jan/23
Inflation Expectations 3.9 % Jan/23
Producer Prices Change  6 % Dec/22


Trade Indicators

Indicator Data Period
Current Account to GDP 4.9 % 2021
Weapons Sales 566 USD Million 2021
Balance of Trade -12690 USD Million | -12.69 USD Billion Jan/23
Capital Flows 1719 USD Million | 1.719 USD Billion Nov/22
Current Account -620 USD Million | -0.62 USD Billion Nov/22
Exports 46270 USD Million | 46.27 USD Billion Jan/23
External Debt 638981 USD Million | 638.981 USD Billion 3Q/22
Foreign Exchange Reserves 429970 USD Million | 429.97 USD Billion Jan/23
Imports 58960 USD Million | 58.96 USD Billion Jan/23
Terms of Trade  85.1 Index Points Nov/22
Tourism Revenues  1161200 USD Million | 1161.2 B USD Sep/22
Tourist Arrivals 456436 Persons | 0.456 Million Persons Nov/22


Money Indicators

Indicator Data Period
Bank Lending Rate 5.56 % Dec/22
Gold Reserves 104 Tonnes 4Q/22
Interbank Rate 3.51 % Feb/23
Interest Rate 3.5 % Jan/23
Loans to Private Sector 11703145 KRW HML | 937.608 USD Billion Dec/22
Money Supply M0 163202592 KRW Million | 130.751 USD Billion Nov/22
Money Supply M1 1249411 KRW Billion | 1000.977 USD Billion Nov/22
Money Supply M2 3794691 KRW Billion | 3040.151 USD Billion Nov/22
Money Supply M3 5115230 KRW Billion | 4098.113 USD Billion Nov/22
Central Bank Balance Sheet 584276 KRW Billion | 468.098 B USD Nov/22
Deposit Interest Rate 4.52 % Oct/22
Foreign Direct Investment 8931219 USD Thousand | 8.931 B USD 4Q/22


Labor Indicators

Indicator Data Period
Minimum Wages 9620 KRW/Hour | 1233.144 USD/Month 2023
Retirement Age Men 60 2022
Retirement Age Women 60 2022
Unemployment Rate 3.3 % Dec/22
Wages 4264096 KRW/Month | 3416.219 USD/Month 3Q/22
Youth Unemployment Rate 5.2 % Dec/22
Employed Persons 28091 Thousand Person | 28.091 Million Person Dec/22
Employment Rate  61.3 % Dec/22
Labor Force Participation Rate 63.3 % Dec/22
Unemployed Persons 948 Thousand Persons | 0.948 Million Persons Dec/22
Wages in Manufacturing 4701178 KRW/Month | 3766.391 USD/Month 3Q/22


Taxes



Production Indicators

Indicator Data Period
Electricity Production 23008 GWh Nov/22
Industrial Production -7.3 % Dec/22
Mining Production -11.3 % Feb/22
Steel Production 5200 Thousand Tonnes Dec/22
Car Production 379797 Units | 379.797 Units 2022
Industrial Production (MoM) -2.9 % Dec/22


Business Indicators

Indicator Data Period
Bankruptcies 15 companies Dec/22
Business Confidence 66 index points Jan/23
Corruption Index 63 index points 2022
Corruption Rank 31 place 2022
Ease of Doing Business 5 place 2019
Manufacturing PMI 48.5 index points Jan/23
Manufacturing Production -7.99 % Dec/22
Competitiveness Index 79.62 Index Points 2019
Competitiveness Rank 13 2019
Leading Economic Index  130 Index Points Dec/22


Consumer Indicators

Indicator Data Period
Consumer Confidence 90.7 index points Jan/23
Private Debt To GDP 275 % 2021
Retail Sales MoM 1.4 % Dec/22
Retail Sales YoY -2.5 % Dec/22
Consumer Credit 1870614 KRW Billion | 1498.659 USD Billion 3Q/22
Consumer Spending 233085 KRW Billion | 186.738 USD Billion 4Q/22
Disposable Personal Income 2078537 KRW Billion | 1665.239 B USD 2021
Households Debt To GDP 106 % 2Q/22


Housing Market

Indicator Data Period
Construction Output 10.2 % Nov/22