South Korea real GDPSouth Korea real GDPSouth Korea real GDP

South Korea real GDP

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Key data points


Last release
Observation period
Q2 2024
Next release
Forecast
Highest
‪572.95 T‬KRW on Mar 31, 2024
Lowest
‪7.06 T‬KRW on Mar 31, 1960

About South Korea real GDP


Category
GDP
Frequency
Quarterly
Units
KRW

Frequently Asked Questions


Real GDP is calculated using a GDP price deflator, which is the difference in prices between the current year and the base year. Then nominal GDP (GDP adjusted for inflation) is divided by this deflator, yielding real GDP. Nominal GDP is usually higher than real GDP because inflation is typically a positive number.
Since GDP measures an economy's output, it is subject to inflationary pressure. So real GDP is a measure of an economy's output adjusted for inflation.
Last quarter South Korea real GDP was 571.647 T KRW, and the quarter before that it reached 572.951 T KRW.