South Korea GDP Growth (1961-2023)
South Korea's GDP growth reflects its transition from an agrarian economy to a tech-driven powerhouse. Growth surged in the 1960s and 1970s, reaching in 1973 due to industrialization. Despite contraction in 1998 amid the Asian Financial Crisis, the economy rebounded swiftly. After stable growth in the 2000s, the pandemic caused a slight contraction in 2020, but recovery was quick, with a growth rate in 2021. By 2023, growth stabilized at , reflecting matured economic conditions.
Discover additional trends and data on South Korea’s urbanization rate, South Korea’s net lending/borrowing as percentage of GDP, South Korea’s annual GDP.
