17.2 GDP of South Korea and its unique sectorial makeup:
All sectors that make up South Korea’s GDP
Predominant sectors: Manufacturing, services (including information technology and finance), and agriculture.
Not-so-predominant sectors: Mining, construction, and utilities.
Total GDP
South Korea’s total GDP: In 2023, South Korea’s GDP was approximately $1.7 trillion USD.
Primary industry share of the total GDP: Approximately 1.59 percent of South Korea’s GDP was generated by the country’s agriculture sector including forestry, and fishing.
Secondary industry share of the total GDP: Approximately 31.76 percent came from South Korea’s industry sector including Manufacturing, construction, and utilities.
Tertiary industry share of the total GDP: In 2022, services contributed around 58.24 percent to South Korea’s gross domestic product (GDP).
Figure 1: Gross domestic product (GDP) distribution by economic sectors, 2012–2022
GDP growth rate – YOY
Total GDP growth rate: In 2023, South Korea’s GDP grew by approximately 2.0%.
Primary Industry growth rate: The growth rate in the primary industry varies, influenced by agriculture and mining performance.
Secondary Industry growth rate: The secondary industry’s growth rate fluctuates, driven by manufacturing and construction trends.Tertiary Industry growth rate: The tertiary industry typically experiences more stable growth, particularly in the services sector.