The South Korean economy advanced 0.6 percent quarter-on-quarter in the three months to September 2018, the same pace as in the previous period and slightly below market expectations of 0.7 percent, advanced data showed. Growth was mainly driven by a strong 2.3 percent expansion in manufacturing (vs +0.6 percent in the previous period), more than offsetting contractions in utilities, construction, and primary activity. Services grew 0.5 percent for the second straight period. On an annual basis, the economy expanded 2.0 percent slowing from a 2.8 percent growth in the previous three months and missing market consensus of 2.2 percent. GDP Growth Rate in South Korea averaged 1.79 percent from 1960 until 2018, reaching an all time high of 7.80 percent in the fourth quarter of 1970 and a record low of -7 percent in the first quarter of 1998.

South Korea GDP Growth Rate
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South Korea GDP Expands 0.6% QoQ in Q3


The South Korean economy advanced 0.6 percent quarter-on-quarter in the three months to September 2018, the same pace as in the previous period and slightly below market expectations of 0.7 percent, advanced data showed.

Growth was mainly driven by a strong 2.3 percent expansion in manufacturing (vs +0.6 percent in the previous period), more than offsetting contractions in utilities, construction, and primary activity. Services grew 0.5 percent for the second straight period.

On the expenditure side, government spending rose 1.6 percent and private expenditure 0.6 percent, whereas gross fixed capital formation plunged 4.5 percent, mainly dragged by a 6.4 percent contraction in construction. Exports grew 3.9 percent while imports edged down 0.1 percent.

On an annual basis, the economy expanded 2.0 percent, slowing from a 2.8 percent growth in the previous three months and missing market consensus of 2.2 percent.



Mario | mario@tradingeconomics.com
10/25/2018 8:48:43 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-07-25 11:00 PM GDP Growth Rate QoQ Adv 0.7% 1% 0.7% 0.8%
2018-09-03 11:00 PM GDP Growth Rate QoQ Final 0.6% 1% 0.7% 0.7%
2018-10-24 11:00 PM GDP Growth Rate QoQ Adv 0.6% 0.6% 0.7% 1%
2018-12-03 11:00 PM GDP Growth Rate QoQ Final 0.6% 0.6% 0.6%


South Korea GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.60 7.80 -7.00 percent [+]
GDP Annual Growth Rate 2.00 2.80 19.60 -7.40 percent [+]
GDP 1530.75 1414.80 1530.75 2.42 USD Billion [+]
GDP Constant Prices 400234.60 397959.20 400234.60 6626.29 KRW Billion [+]
Gross National Product 406053.70 394081.60 422891.90 7259.71 KRW Billion [+]
Gross Fixed Capital Formation 117824.70 123422.80 127086.00 359.12 KRW Billion [+]
GDP per capita 26152.03 25484.00 26152.03 944.30 USD [+]
GDP per capita PPP 35938.37 35020.40 35938.37 11632.60 USD [+]
GDP From Agriculture 6932.40 7286.80 7619.80 1627.32 KRW Billion [+]
GDP From Construction 16285.10 17199.30 17780.00 279.27 KRW Billion [+]
GDP From Manufacturing 116974.90 114354.10 116974.90 297.74 KRW Billion [+]
GDP From Mining 502.00 526.50 875.80 178.51 KRW Billion [+]
GDP From Public Administration 24176.90 23995.10 24176.90 1673.48 KRW Billion [+]
GDP From Services 211761.30 210746.10 211761.30 4114.29 KRW Billion [+]
GDP From Transport 13200.40 13204.60 13204.60 113.95 KRW Billion [+]
GDP From Utilities 7884.20 7890.00 7890.00 10.30 KRW Billion [+]


South Korea GDP Growth Rate

South Korea has an export oriented economy and is the world's leading producer of displays and memory semiconductors and the second largest producer of ships. Services account for the highest percentage of GDP (around 57 percent of GDP). Within services the most important ones are public administration (6 percent ); education (5.3 percent); information and communication (5 percent); and business activities (4.6 percent of GDP). A strong manufacturing industry which has turned South Korea into a major exporter accounts for 32 percent of GDP. This page provides - South Korea GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.60 7.80 -7.00 1960 - 2018 percent Quarterly
SA




Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Germany -0.20 Sep/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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