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South Korea GDP 4Q2013 and 2014 Outlook

by Eduardo Petazze

The Bank Of Korea released the National Accounts in the Year 2013 (Preliminary)
English pdf, 3 pages
Data pdf, 37 pages
Real gross domestic product [chained (2010 prices) volume measure of GDP] grew by 3.0% in 2013
Our current estimate for GDP growth in 2014 is 2.96% (from our previous estimate of 2.92%)

GDP at 2010 chained prices


2012
27,507
2,170
383,683
26,710
54,431
111,196
30,507
46,878
75,547
93,183
50,199
83,353
82,941
64,387
48,694
31,973
-133
1,213,225
128,709
33
1,341,966
639,782
28,002
193,474
387,240
756,558
685,009
21,921
1,341,966
Last data
2012
-0.86%
-0.28%
2.37%
3.98%
-1.81%
3.91%
1.53%
1.56%
3.86%
-0.22%
4.73%
3.01%
2.85%
0.91%
7.06%
1.61%
2.35%
1.75%
2.29%
1.23%
20.71%
3.37%
-0.48%
5.09%
2.40%
2.29%
Own estimate
2012
27,507
2,171
383,683
26,710
54,430
111,196
30,507
46,878
75,547
93,183
50,199
83,353
82,941
64,387
48,694
31,973
-133
1,213,224
128,709
34
1,341,966
639,782
28,002
193,473
387,240
756,558
685,009
21,921
1,341,966
Last data
2012
-0.86%
-0.26%
2.37%
3.98%
-1.81%
3.91%
1.53%
1.56%
3.86%
-0.22%
4.73%
3.01%
2.85%
0.91%
7.06%
1.61%
2.35%
1.75%
2.29%
1.23%
20.71%
3.37%
-0.48%
5.09%
2.40%
2.29%
Own estimate

2013
2014
NSA Bil.Won (2010) prices
29,090
29,933 Agriculture, forestry and fishing
2,335
2,365 Mining and quarrying
396,236
410,759 Manufacturing
27,098
27,991 Electricity, gas and water supply
56,390
56,179 Construction
115,538
120,525
Wholesale and retail trade
30,845
31,299
Restaurants and hotels
47,434
48,327 Transportation and storage
78,367
80,820 Finance and insurance
93,905
94,708 Real estate and leasing
52,082
54,181 Information and communication
87,613
91,084 Business activities
85,089
87,237 Public administration and defence
64,513
64,822 Education
51,635
54,450 Health and social work
32,509
33,119 Cultural and other services
-117
142 Residual
1,250,560 1,287,939
GVA
131,174
134,580 Taxes less subsidies on products
104
164 Residual
1,381,838 1,422,683
GDP
648,887
659,723
Households
32,462
36,535
NPISHs
198,702
204,418 Government
403,677
412,173 Gross fixed capital formation
788,829
833,756 Exports of goods and services
695,928
725,610 (less) Imports of goods and services
5,210
1,688 Residual and inventory change
1,381,838 1,422,683
Expenditure on GDP
2013
5.75%
7.57%
3.27%
1.45%
3.60%
3.90%
1.11%
1.19%
3.73%
0.77%
3.75%
5.11%
2.59%
0.20%
6.04%
1.68%
3.08%
1.92%
2.97%
1.42%
15.93%
2.70%
4.24%
4.27%
1.59%
2.97%

2014
2.90%
1.30%
3.67%
3.30%
-0.38%
4.32%
1.47%
1.88%
3.13%
0.86%
4.03%
3.96%
2.53%
0.48%
5.45%
1.88%
2.99%
2.60%
2.96%
1.67%
12.55%
2.88%
2.10%
5.70%
4.27%
2.96%

NSA Real GDP Y/Y


Agriculture, forestry and fishing
Mining and quarrying
Manufacturing
Electricity, gas and water supply
Construction
Wholesale and retail trade
Restaurants and hotels
Transportation and storage
Finance and insurance
Real estate and leasing
Information and communication
Business activities
Public administration and defence
Education
Health and social work
Cultural and other services
GVA
Taxes less subsidies on products
GDP
Households
NPISHs
Government
Gross fixed capital formation
Exports of goods and services
(less) Imports of goods and services
Expenditure on GDP

2013
2014
SA Bil.Won (2010) prices
29,090
29,933 Agriculture, forestry and fishing
2,335
2,365 Mining and quarrying
396,236
410,759 Manufacturing
27,098
27,991 Electricity, gas and water supply
56,391
56,179 Construction
115,538
120,525
Wholesale and retail trade
30,845
31,299
Restaurants and hotels
47,434
48,327 Transportation and storage
78,367
80,820 Finance and insurance
93,905
94,708 Real estate and leasing
52,082
54,181 Information and communication
87,613
91,084 Business activities
85,089
87,237 Public administration and defence
64,513
64,822 Education
51,635
54,450 Health and social work
32,509
33,119 Cultural and other services
-117
142 Residual
1,250,560 1,287,939
GVA
131,174
134,580 Taxes less subsidies on products
104
164 Residual
1,381,838 1,422,683
GDP
648,887
659,723
Households
32,462
36,535
NPISHs
198,702
204,418 Government
403,677
412,173 Gross fixed capital formation
788,829
833,756 Exports of goods and services
695,928
725,610 (less) Imports of goods and services
5,210
1,688 Residual and inventory change
1,381,838 1,422,683
Expenditure on GDP
2013
5.75%
7.56%
3.27%
1.45%
3.60%
3.90%
1.11%
1.19%
3.73%
0.77%
3.75%
5.11%
2.59%
0.20%
6.04%
1.68%
3.08%
1.92%
2.97%
1.42%
15.93%
2.70%
4.24%
4.27%
1.59%
2.97%

2014
2.90%
1.30%
3.67%
3.30%
-0.38%
4.32%
1.47%
1.88%
3.13%
0.86%
4.03%
3.96%
2.52%
0.48%
5.45%
1.88%
2.99%
2.60%
2.96%
1.67%
12.55%
2.88%
2.10%
5.70%
4.27%
2.96%

SA Real GDP Q/Q


Agriculture, forestry and fishing
Mining and quarrying
Manufacturing
Electricity, gas and water supply
Construction
Wholesale and retail trade
Restaurants and hotels
Transportation and storage
Finance and insurance
Real estate and leasing
Information and communication
Business activities
Public administration and defence
Education
Health and social work
Cultural and other services
GVA
Taxes less subsidies on products
GDP
Households
NPISHs
Government
Gross fixed capital formation
Exports of goods and services
(less) Imports of goods and services
Expenditure on GDP

2012 1
4,967
449
91,048
7,136
10,074
26,758
7,202
11,226
19,088
22,789
11,935
18,573
20,623
15,983
11,842
8,210
-247
287,656
30,246
20
317,922
160,746
7,198
46,829
88,225
175,195
172,436
12,166
317,922

2012 2
6,940
637
97,149
6,780
14,473
27,950
7,701
11,667
18,649
23,329
12,475
21,111
20,645
15,606
12,728
7,315
-35
305,118
31,338
55
336,511
155,252
6,746
48,969
100,400
188,413
170,410
7,141
336,511

2013 4
9,401
543
105,366
6,803
16,529
30,494
8,025
12,201
19,782
23,777
14,196
24,381
21,491
16,630
13,187
7,993
197
330,995
34,293
47
365,335
166,031
7,836
51,285
110,191
208,084
180,802
2,711
365,335

2014 1
5,492
489
96,641
7,767
10,314
28,969
7,454
11,630
20,402
23,146
12,845
20,059
21,700
16,030
13,069
8,446
-511
303,942
31,609
33
335,583
165,501
9,639
48,894
87,977
195,469
180,126
8,229
335,583

2012 1 2012 2 2012 3 2012 4 2013 1 2013 2 2013 3 2013 4


-0.29% -2.21% -0.12% -0.67%
0.41%
2.87%
7.39%
9.85%
3.31%
1.76% -0.28% -5.41%
8.26% 10.39%
6.96%
4.18%
2.67%
2.83%
2.01%
2.01%
1.84%
2.82%
3.80%
4.50%
0.89%
4.68%
1.15%
9.69%
4.62% -0.36% -1.21%
2.34%
0.48% -1.49% -1.28% -3.91%
1.89%
3.40%
5.27%
3.41%
3.68%
3.56%
4.08%
4.31%
3.40%
3.83%
3.89%
4.46%
-0.03%
1.20%
2.34%
2.55%
0.88%
0.65%
0.61%
2.25%
2.68%
0.58%
1.00%
2.04%
2.10%
1.77%
0.63%
0.34%
2.95%
4.18%
4.44%
3.89%
4.52%
3.22%
3.46%
3.71%
-0.80% -0.15% -0.37%
0.45%
0.41%
0.93%
0.78%
0.98%
4.64%
6.59%
3.81%
3.97%
3.62%
2.91%
4.31%
4.14%
4.13%
4.18%
2.17%
1.84%
2.36%
5.98%
5.82%
5.90%
2.84%
2.88%
2.96%
2.74%
2.40%
2.50%
2.65%
2.80%
1.39%
1.12%
0.61%
0.55% -0.12% -0.10%
0.39%
0.60%
7.91%
7.92%
7.17%
5.28%
3.97%
5.16%
7.58%
7.46%
2.51%
0.93%
1.53%
1.41% -0.90%
1.14%
2.83%
3.63%
2.48%
2.62%
2.16%
2.15%
2.07%
2.79%
3.45%
3.91%
3.65%
0.59%
1.30%
1.63%
2.25%
1.57%
2.51%
1.35%
2.60%
2.44%
2.06%
2.10%
2.08%
2.68%
3.36%
3.68%
1.16%
0.06%
1.80%
1.89%
1.03%
1.60%
1.47%
1.60%
14.06% 19.54% 24.14% 26.02% 17.79% 13.70% 15.92% 16.17%
4.38%
3.19%
3.08%
2.90%
1.10%
3.46%
2.84%
3.33%
6.19% -2.33% -1.04% -3.42% -2.62%
5.00%
5.93%
7.84%
4.24%
5.25%
4.96%
5.79%
5.56%
5.93%
2.62%
3.15%
5.18% -1.01%
3.93%
1.71% -0.55%
1.36%
0.63%
4.93%
2.60%
2.44%
2.06%
2.10%
2.08%
2.68%
3.36%
3.68%

2014 1
10.13%
0.52%
4.22%
4.04%
0.49%
4.71%
2.59%
1.47%
2.26%
1.16%
3.86%
5.51%
2.76%
0.42%
6.15%
3.81%
3.52%
2.21%
3.40%
1.91%
13.70%
3.27%
2.40%
5.70%
5.04%
3.40%

2012 1
6,795
533
95,589
6,458
13,639
27,368
7,534
11,650
18,630
23,216
12,381
20,679
20,535
16,126
12,030
7,986
-22
301,126
31,946
8
333,081
159,026
6,504
48,264
100,975
183,428
171,807
6,692
333,081

2013 4
7,875
557
100,588
7,131
14,032
29,506
7,829
11,889
19,835
23,583
13,179
22,235
21,509
16,186
13,207
8,296
-18
317,419
33,048
38
350,505
163,599
8,638
50,299
101,519
199,483
178,185
5,152
350,505

2014 1
7,447
569
101,404
7,067
13,876
29,755
7,767
12,051
20,125
23,575
13,357
22,250
21,593
16,214
13,308
8,178
167
318,703
33,505
33
352,241
163,983
8,714
50,474
101,998
203,695
179,233
2,609
352,241

2012 1 2012 2 2012 3 2012 4 2013 1 2013 2 2013 3 2013 4


-6.72% -0.16% -0.38%
6.06% -4.09%
1.95%
4.57%
7.43%
-4.81%
3.62%
0.43% -3.99%
8.51%
5.37% -2.71% -5.90%
1.48%
0.26%
0.25%
0.09%
1.23%
1.22%
1.22%
0.85%
0.12%
2.60% -0.05%
5.76% -3.22% -2.57% -0.33%
8.32%
-2.94% -0.18%
0.43% -1.23%
2.74%
1.67%
1.90% -2.39%
0.88%
0.91%
1.20%
1.11%
0.15%
1.32%
1.30%
1.57%
0.70%
1.17%
0.79% -0.19% -0.64%
0.66%
0.77%
1.31%
0.01% -0.42%
1.42%
0.81%
0.22% -0.48% -0.02%
0.51%
1.07%
1.07%
0.71%
0.87%
1.70% -0.04%
1.00%
1.01%
-0.12%
0.32%
0.13%
0.14% -0.13%
0.73%
0.03%
0.34%
1.52%
1.80% -0.50%
1.05%
1.28%
1.06%
0.99%
0.61%
0.38%
0.93% -0.20%
0.70%
1.08%
4.33% -0.28%
0.80%
0.82%
0.70%
0.61%
0.57%
0.51%
0.77%
0.77%
0.71%
0.77% -0.13% -0.24%
0.15%
0.05% -0.04%
0.29%
0.30%
3.46%
1.27%
0.19%
0.55%
1.76%
2.58%
2.44%
0.62%
0.97% -0.14%
0.33%
0.09% -1.06%
1.83%
1.86%
0.94%
0.65%
0.54%
0.34%
0.58%
0.66%
1.19%
1.01%
0.97%
-0.57% -0.09%
0.92%
1.32%
0.17% -0.81%
1.81%
0.11%
0.54%
0.49%
0.39%
0.65%
0.61%
1.01%
1.08%
0.89%
0.49% -0.03%
1.05%
0.30% -0.26%
0.59%
0.77%
0.42%
10.26%
6.13%
3.86%
3.58%
3.12%
2.51%
5.93%
3.88%
2.36% -0.42%
0.98%
0.17%
0.51%
1.65%
0.42%
0.85%
4.11% -4.72%
0.16% -2.77%
5.56%
2.19%
1.13% -0.67%
0.47%
2.54%
1.90%
0.89%
0.21%
2.63% -1.11%
1.43%
3.04% -0.22%
0.34% -1.33%
0.63%
1.77% -0.43%
2.94%
0.54%
0.49%
0.39%
0.65%
0.61%
1.01%
1.08%
0.89%

2014 1
-5.43%
2.19%
0.81%
-0.90%
-1.12%
0.84%
-0.80%
1.37%
1.46%
-0.03%
1.35%
0.07%
0.39%
0.17%
0.76%
-1.42%
0.40%
1.38%
0.50%
0.24%
0.88%
0.35%
0.47%
2.11%
0.59%
0.50%

2012 2
6,785
552
95,839
6,626
13,615
27,618
7,623
11,601
18,828
23,291
12,604
20,871
20,678
16,105
12,183
7,975
-29
302,764
31,917
18
334,698
158,978
6,903
48,063
96,210
188,091
171,435
7,888
334,698

2012 3
7,043
563
94,656
6,147
13,900
27,297
7,755
11,824
18,736
23,519
12,158
20,645
20,769
16,267
11,852
8,734
58
301,923
33,289
-48
335,163
160,369
7,313
48,044
96,432
191,224
169,854
1,635
335,163

2012 3
6,759
554
96,082
6,623
13,673
27,950
7,683
11,766
18,962
23,322
12,541
20,829
20,805
16,066
12,207
8,002
-35
303,786
32,211
9
336,006
160,648
7,169
48,532
96,362
191,667
172,024
3,652
336,006

2012 4
8,558
521
100,830
6,647
15,984
29,192
7,849
12,160
19,074
23,546
13,632
23,023
20,905
16,531
12,271
7,713
91
318,528
33,835
7
352,371
163,415
6,745
49,632
102,183
201,726
172,309
979
352,371

2012 4
7,168
532
96,173
7,004
13,505
28,260
7,668
11,861
19,127
23,355
12,673
20,975
20,923
16,090
12,274
8,009
-47
305,549
32,635
-1
338,182
161,131
7,426
48,615
93,692
193,373
169,743
3,689
338,182

2013 1
4,987
486
92,728
7,466
10,264
27,667
7,266
11,462
19,952
22,882
12,367
19,011
21,117
15,963
12,312
8,136
-459
293,606
30,926
18
324,550
162,402
8,478
47,345
85,917
184,932
171,483
6,960
324,550

2013 1
6,876
577
97,360
6,779
13,875
28,304
7,619
11,887
19,452
23,325
12,834
21,202
21,030
16,098
12,490
7,924
-78
307,553
32,691
6
340,249
160,714
7,658
48,862
98,897
193,785
170,811
1,144
340,249

2013 2
7,138
703
99,885
6,756
14,965
29,020
7,752
11,873
19,249
23,545
12,838
22,375
21,161
15,590
13,385
7,398
-10
313,621
31,829
75
345,526
157,731
7,670
50,663
105,417
199,583
172,725
-2,813
345,526

2013 2
7,009
608
98,544
6,605
14,107
28,677
7,669
11,830
19,443
23,495
12,971
22,119
21,193
16,092
12,812
8,069
-21
311,222
32,424
36
343,683
161,663
7,850
49,667
101,060
198,889
173,839
-1,608
343,683

2013 3
7,563
602
98,258
6,073
14,632
28,358
7,802
11,898
19,385
23,702
12,681
21,846
21,319
16,330
12,751
8,981
156
312,338
34,126
-37
346,427
162,724
8,478
49,409
102,153
196,231
170,919
-1,648
346,427

2013 3
7,330
592
99,743
6,583
14,376
29,051
7,728
11,828
19,637
23,502
13,099
22,058
21,357
16,137
13,125
8,219
0
314,366
33,011
24
347,401
162,912
8,315
49,874
102,201
196,672
173,094
521
347,401

The Bank Of Korea released the Real Gross Domestic Product: 4Q and Annual 2013 (Advance Estimate)
English pdf, 6 pages
Korean pdf, 26 pages
In the 4th. quarter of 2013, Korea's economy grew 0.92% M/M (+3.90 Y/Y), accumulating a 2.77% growth in 2013.

2013 GDP at 2005 chained prices


Bil. (005) Won SA
2012 1
Agriculture, forestry and fishing
6,870.4
Mining and quarrying
408.1
Manufacturing
78,983.9
Electricity, gas and water supply
5,659.8
Construction
14,343.8
Wholesale and retail trade, ..
25,859.9
Transport and storage
11,263.3
Financial intermediation
17,810.5
Real estate and renting
16,966.3
Information and communication
11,876.7
Business activites
11,505.8
Public administration
14,493.8
Education
13,295.1
Health and social work
10,775.0
Recreational, cultural and sporting
3,329.7
Other service activities
4,600.8
Gross value added at basic prices
247,816.5
Taxes less subsidies on products
27,370.0
Gross domestic product at market prices 275,182.1
Private Consumption
139,775.7
Government Consumption
40,438.1
Gross Fixed Capital Formation
69,955.2
Changes in Inventories
433.3
Exports of Goods and Services
145,680.0
(less)Imports of Goods and Services
121,158.8
Statistical Discrepancy
-257.4
Expenditure on GDP
275,182.1
Memo:
Exports (million current dollars)
167,289.6
Imports (million current dollars)
157,892.2
Q/Q
2012 1
Agriculture, forestry and fishing
-6.48%
Mining and quarrying
-0.85%
Manufacturing
1.61%
Electricity, gas and water supply
-1.65%
Construction
-1.42%
Wholesale and retail trade, ..
0.43%
Transport and storage
0.96%
Financial intermediation
0.53%
Real estate and renting
0.74%
Information and communication
1.19%
Business activites
0.76%
Public administration
1.55%
Education
1.28%
Health and social work
3.93%
Recreational, cultural and sporting
0.95%
Other service activities
0.55%
Gross value added at basic prices
0.84%
Taxes less subsidies on products
0.56%
Gross domestic product at market prices
0.82%
Private Consumption
0.79%
Government Consumption
3.49%
Gross Fixed Capital Formation
3.05%
Exports of Goods and Services
3.94%
(less)Imports of Goods and Services
4.32%
Expenditure on GDP
0.82%
Memo:
Exports (million current dollars)
2.79%
Imports (million current dollars)
2.33%
Also see: Balance of Payments during December 2013 pdf, 3 pages

2012 2
6,883.6
450.5
78,837.8
5,692.1
14,084.9
26,001.6
11,205.9
18,130.2
17,006.5
12,034.0
11,568.7
14,579.2
13,244.1
10,871.5
3,327.9
4,577.3
248,273.0
27,742.6
276,005.7
140,308.6
40,383.1
67,317.6
800.8
145,179.9
119,023.3
-257.3
276,005.7

2012 3
6,701.6
438.6
78,608.8
5,763.8
14,206.5
26,134.0
11,181.7
18,278.9
17,011.2
12,049.7
11,549.7
14,691.3
13,128.2
10,930.3
3,331.2
4,646.5
248,433.5
27,695.5
276,120.2
141,345.1
40,704.8
66,293.6
642.6
147,952.9
121,200.0
-171.6
276,120.2

2012 4
7,231.3
382.9
78,774.5
6,102.9
13,922.6
26,263.7
11,239.1
18,469.5
17,001.4
12,136.9
11,525.8
14,745.4
13,158.1
10,937.8
3,319.4
4,687.6
249,558.5
27,349.0
276,906.7
142,430.9
40,467.5
65,262.4
1,082.7
146,369.3
120,266.0
25.1
276,906.7

2013 1
6,914.6
413.4
79,773.3
5,761.6
14,477.4
26,236.2
11,485.8
18,423.1
17,005.8
12,397.4
11,654.2
14,904.2
13,200.3
11,295.9
3,276.2
4,636.6
251,535.5
27,692.9
279,223.0
141,809.0
40,946.0
67,712.2
582.3
150,712.4
123,239.3
-172.8
279,223.0

2013 2
7,061.3
448.1
80,460.3
5,677.9
14,681.8
26,493.5
11,319.8
18,806.8
17,205.3
12,370.5
11,884.4
14,966.0
13,276.6
11,525.9
3,335.9
4,612.1
253,898.4
28,453.7
282,344.9
142,872.4
41,924.1
69,168.1
-841.8
153,495.0
124,654.1
-397.6
282,344.9

2013 3
7,201.2
482.5
81,702.4
5,735.0
14,853.1
26,715.0
11,337.1
18,993.2
17,178.7
12,420.9
11,856.6
15,021.6
13,269.0
11,869.5
3,387.6
4,799.9
256,582.9
28,773.0
285,348.5
144,262.3
41,962.7
70,686.0
220.7
151,460.1
123,934.2
-572.1
285,348.5

2013 4
7,901.4
394.4
82,992.7
6,085.6
14,464.9
27,125.3
11,282.7
19,253.2
17,187.2
12,632.7
11,814.6
15,183.7
13,236.5
11,843.5
3,389.9
4,890.2
259,309.5
28,675.8
287,979.3
145,550.6
41,969.5
70,622.0
1,090.3
154,427.5
126,559.1
-211.2
287,979.3

163,829.5 163,974.8 171,292.3 170,919.4 165,383.1 169,302.6 177,513.3


154,248.8 150,541.8 157,159.9 156,508.7 149,246.8 152,002.7 158,440.2
2012 2
2012 3
2012 4
2013 1
2013 2
2013 3
2013 4
0.19%
-2.64%
7.90%
-4.38%
2.12%
1.98%
9.72%
10.39%
-2.64% -12.70%
7.97%
8.39%
7.68% -18.26%
-0.18%
-0.29%
0.21%
1.27%
0.86%
1.54%
1.58%
0.57%
1.26%
5.88%
-5.59%
-1.45%
1.01%
6.11%
-1.80%
0.86%
-2.00%
3.98%
1.41%
1.17%
-2.61%
0.55%
0.51%
0.50%
-0.10%
0.98%
0.84%
1.54%
-0.51%
-0.22%
0.51%
2.20%
-1.45%
0.15%
-0.48%
1.80%
0.82%
1.04%
-0.25%
2.08%
0.99%
1.37%
0.24%
0.03%
-0.06%
0.03%
1.17%
-0.15%
0.05%
1.32%
0.13%
0.72%
2.15%
-0.22%
0.41%
1.71%
0.55%
-0.16%
-0.21%
1.11%
1.98%
-0.23%
-0.35%
0.59%
0.77%
0.37%
1.08%
0.41%
0.37%
1.08%
-0.38%
-0.88%
0.23%
0.32%
0.58%
-0.06%
-0.24%
0.90%
0.54%
0.07%
3.27%
2.04%
2.98%
-0.22%
-0.05%
0.10%
-0.35%
-1.30%
1.82%
1.55%
0.07%
-0.51%
1.51%
0.88%
-1.09%
-0.53%
4.07%
1.88%
0.18%
0.06%
0.45%
0.79%
0.94%
1.06%
1.06%
1.36%
-0.17%
-1.25%
1.26%
2.75%
1.12%
-0.34%
0.30%
0.04%
0.28%
0.84%
1.12%
1.06%
0.92%
0.38%
0.74%
0.77%
-0.44%
0.75%
0.97%
0.89%
-0.14%
0.80%
-0.58%
1.18%
2.39%
0.09%
0.02%
-3.77%
-1.52%
-1.56%
3.75%
2.15%
2.19%
-0.09%
-0.34%
1.91%
-1.07%
2.97%
1.85%
-1.33%
1.96%
-1.76%
1.83%
-0.77%
2.47%
1.15%
-0.58%
2.12%
0.30%
0.04%
0.28%
0.84%
1.12%
1.06%
0.92%
-2.07%
-2.31%

0.09%
-2.40%

4.46%
4.40%

-0.22%
-0.41%

-3.24%
-4.64%

2.37%
1.85%

4.85%
4.24%

2014 Outlook at 2005 chained prices


Economic Outlook for 2014 English pdf, 9 pages
in Korean: Press Release pdf, 13 pages ; Full text pdf, 73 pages
Our preliminary estimate for GDP growth in 2014 is 2.92%, which contrasts with the official estimate of the Bank of Korea 3.8% in 2014 and 4.0% by 2015
Bil. (2005) Won NSA
2008
2009
2010
2011
2012
2013
2014
Agriculture, forestry and fishing
28,826.8 29,759.1
28,443.9
27,856.7
27,687.0
29,248.1
31,172.8
Mining and quarrying
1,922.1
1,906.0
1,743.0
1,659.2
1,680.2
1,730.0
1,697.9
Manufacturing
254,466.7 250,567.6 287,376.9 308,378.7 315,205.1 324,795.0 335,392.1
Electricity, gas and water supply
20,199.0 21,023.6
21,937.3
22,575.8
23,218.4
23,323.1
23,935.2
Construction
60,611.1 61,716.0
60,048.0
57,467.3
56,557.8
58,639.7
59,673.7
Wholesale and retail trade, ..
91,512.4 90,725.7
97,125.0 101,841.8 104,259.2 106,595.5 109,370.8
Transport and storage
41,033.4 38,666.1
42,657.4
44,327.2
44,890.0
45,419.6
45,761.3
Financial intermediation
64,612.2 67,425.2
69,063.1
70,188.8
72,689.1
75,327.3
78,259.3
Real estate and renting
66,491.6 66,368.7
67,210.4
67,884.3
67,985.5
68,527.1
69,041.7
Information and communication
41,024.7 41,933.7
43,589.1
46,149.3
48,097.5
49,838.3
51,675.4
Business activites
42,990.6 42,727.5
44,047.8
44,927.0
46,149.9
47,233.2
48,212.0
Public administration
52,902.9 54,887.7
55,767.5
56,660.3
58,509.7
60,076.0
61,731.5
Education
51,619.5 52,135.1
52,752.5
52,742.3
52,825.5
52,988.1
53,130.1
Health and social work
34,197.7 36,897.6
39,395.4
40,793.0
43,514.6
46,529.8
49,427.5
Recreational, cultural and sporting
12,175.8 12,477.3
12,739.1
12,963.4
13,308.2
13,382.4
13,563.6
Other service activities
17,422.6 17,670.3
18,123.6
18,272.0
18,512.2
18,937.2
19,532.4
Gross value added at basic prices
881,436.9 886,241.0 941,179.8 973,685.4 994,081.5 1,021,444.1 1,051,577.4
Taxes less subsidies on products
97,090.1 95,513.8 102,595.5 108,443.0 110,157.1 113,434.8 116,435.6
Gross domestic product at market prices 978,498.9 981,625.1 1,043,666.3 1,082,095.5 1,104,214.7 1,134,853.2 1,168,013.0
Private Consumption
518,820.8 518,776.1 541,537.3 554,489.5 563,860.5 574,485.8 586,691.0
Government Consumption
140,633.6 148,471.7 152,811.2 155,973.5 161,993.4 166,846.3 171,721.0
Gross Fixed Capital Formation
263,848.0 261,233.7 276,369.3 273,495.7 268,828.9 278,969.9 287,271.4
Changes in Inventories
13,158.6 -17,101.8
-2,924.1
3,318.5
2,959.4
385.5
0.0
Exports of Goods and Services
454,248.9 448,813.8 514,700.8 561,714.8 585,182.1 610,182.1 634,945.1
(less)Imports of Goods and Services
410,567.8 377,795.7 442,975.8 469,890.1 481,648.1 498,493.5 515,751.2
Statistical Discrepancy
-323.6
-528.1
-797.4
-1,559.9
-661.2
-702.6
3,135.7
Expenditure on GDP
978,498.9 981,625.1 1,043,666.3 1,082,095.5 1,104,214.7 1,134,853.2 1,168,013.0
Y/Y
Agriculture, forestry and fishing
Mining and quarrying
Manufacturing
Electricity, gas and water supply
Construction
Wholesale and retail trade, ..
Transport and storage
Financial intermediation
Real estate and renting
Information and communication
Business activites
Public administration
Education
Health and social work
Recreational, cultural and sporting
Other service activities
Gross value added at basic prices
Taxes less subsidies on products
Gross domestic product at market prices
Private
Government
Gross Fixed Capital Formation
Exports of Goods and Services
(less)Imports of Goods and Services
Expenditure on GDP

2008
5.62%
0.64%
2.85%
6.16%
-2.45%
1.35%
4.85%
4.87%
1.48%
3.43%
2.85%
1.38%
3.30%
3.93%
3.35%
1.44%
2.55%
0.10%
2.30%
1.31%
4.32%
-1.94%
6.61%
4.42%
2.30%

2009
3.23%
-0.84%
-1.53%
4.08%
1.82%
-0.86%
-5.77%
4.35%
-0.18%
2.22%
-0.61%
3.75%
1.00%
7.89%
2.48%
1.42%
0.55%
-1.62%
0.32%
-0.01%
5.57%
-0.99%
-1.20%
-7.98%
0.32%

2010
-4.42%
-8.55%
14.69%
4.35%
-2.70%
7.05%
10.32%
2.43%
1.27%
3.95%
3.09%
1.60%
1.18%
6.77%
2.10%
2.57%
6.20%
7.41%
6.32%
4.39%
2.92%
5.79%
14.68%
17.25%
6.32%

2011
-2.06%
-4.81%
7.31%
2.91%
-4.30%
4.86%
3.91%
1.63%
1.00%
5.87%
2.00%
1.60%
-0.02%
3.55%
1.76%
0.82%
3.45%
5.70%
3.68%
2.39%
2.07%
-1.04%
9.13%
6.08%
3.68%

2012
-0.61%
1.27%
2.21%
2.85%
-1.58%
2.37%
1.27%
3.56%
0.15%
4.22%
2.72%
3.26%
0.16%
6.67%
2.66%
1.31%
2.09%
1.58%
2.04%
1.69%
3.86%
-1.71%
4.18%
2.50%
2.04%

2013
5.64%
2.96%
3.04%
0.45%
3.68%
2.24%
1.18%
3.63%
0.80%
3.62%
2.35%
2.68%
0.31%
6.93%
0.56%
2.30%
2.75%
2.98%
2.77%
1.88%
3.00%
3.77%
4.27%
3.50%
2.77%

2014
6.58%
-1.85%
3.26%
2.62%
1.76%
2.60%
0.75%
3.89%
0.75%
3.69%
2.07%
2.76%
0.27%
6.23%
1.35%
3.14%
2.95%
2.65%
2.92%
2.12%
2.92%
2.98%
4.06%
3.46%
2.92%