South Korea’s quarterly GDP growth increased to 1.2 percent in the three months to December 2019, accelerating from 0.4 percent in the previous quarter and beating market expectations of a 0.8 percent expansion. It was the strongest growth rate since the third quarter of 2017, as utilities (3.9 percent vs -13.6 percent in Q3) and construction (4.9 percent vs -4.9 percent) rebounded. Additionally, output rose further in agriculture, forestry & fishing (2.2 percent vs 0.6 percent) and services (0.7 percent vs 0.6 percent). Meanwhile, manufacturing output went up 1.6 percent, slowing from a 2.4 percent in the prior period.
GDP Growth Rate in South Korea averaged 1.78 percent from 1960 until 2019, 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. This page provides - South Korea GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: The Bank of Korea
GDP Growth Rate in South Korea is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in South Korea to stand at 1.00 in 12 months time. In the long-term, the South Korea GDP Growth Rate is projected to trend around 1.00 percent in 2020, according to our econometric models.