Download the full Asia-Pacific Daily Briefing South Korea's first-quarter GDP surprised on the upside, growing by a seasonally adjusted 1.3% quarter on quarter and handily beating both our and market forecasts. We had expected growth to come in at 0.5%, while consensus saw the economy growing at 0.6%. This also marks the fastest quarterly growth rate since the fourth quarter of 2021. The improvement was broad-based across components, with fixed investment...
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GDP | Reference | Last | Previous | Units | Frequency |
---|---|---|---|---|---|
Real Private Consumption | 2024 Q1 | 236,013 | 234,160 | Bil. Ch. 2015 KRW, SA | Quarterly |
Real Gross Domestic Product | 2024 Q1 | 509,845 | 503,403 | Bil. Ch. 2015 KRW, SA | Quarterly |
Real Government Consumption | 2024 Q1 | 89,416 | 88,778 | Bil. Ch. 2015 KRW, SA | Quarterly |
Real Fixed Investment (gross fixed capital formation) | 2024 Q1 | 145,818 | 143,691 | Bil. Ch. 2015 KRW, SA | Quarterly |
Real Investment | 2024 Q1 | 144,304 | 143,347 | Bil. Ch. 2015 KRW, SA | Quarterly |
Private Consumption | 2023 Q4 | 277,985 | 274,779 | Bil. KRW, SA | Quarterly |
Investment | 2023 Q4 | 178,459 | 177,255 | Bil. KRW, SA | Quarterly |
Nominal Gross Domestic Product | 2023 Q4 | 572,925 | 563,912 | Bil. KRW, SA | Quarterly |
Government Consumption | 2023 Q4 | 105,891 | 105,722 | Bil. KRW, SA | Quarterly |
Nominal Fixed Investment (gross fixed capital formation) | 2023 Q4 | 179,432 | 182,335 | Bil. KRW, SA | Quarterly |
Price | Reference | Last | Previous | Units | Frequency |
Producer Price Index (PPI) | Mar 2024 | 122.46 | 122.21 | Index 2015=100, NSA | Monthly |
Consumer Price Index (CPI) | Mar 2024 | 113.94 | 113.77 | Index 2020=100, NSA | Monthly |
Labor | Reference | Last | Previous | Units | Frequency |
Labor Force Employment | Mar 2024 | 28,571 | 28,690 | Ths. #, SA | Monthly |
Labor Force | Mar 2024 | 29,401 | 29,463 | Ths. #, SA | Monthly |
Unemployment Rate | Mar 2024 | 2.8 | 2.6 | %, SA | Monthly |
Unemployment | Mar 2024 | 830.2 | 773.5 | Ths. #, SA | Monthly |
Wage & Salaries | 2022 | 1,028,540 | 982,035 | Bil. KRW | Annual |
Total Employment | 2019 | 22,723,272 | 22,234,776 | # | Annual |
Agriculture Employment | 2017 | 1,363,560 | 1,359,356 | # | Annual |
Real Wages & Salaries | 2017 | 766,202 | 734,010 | Bil. KRW | Annual |
Trade | Reference | Last | Previous | Units | Frequency |
Real Net Exports | 2024 Q1 | 42,026 | 38,538 | Bil. Ch. 2015 KRW, SA | Quarterly |
Real Imports of Goods and Services | 2024 Q1 | 195,810 | 197,123 | Bil. Ch. 2015 KRW, SA | Quarterly |
Real Exports of Goods and Services | 2024 Q1 | 237,837 | 235,662 | Bil. Ch. 2015 KRW, SA | Quarterly |
Exports of Goods | Mar 2024 | 56,600,000 | 52,400,000 | Ths. USD, NSA | Monthly |
Balance of Goods | Mar 2024 | 4,300,000 | 4,300,000 | Ths. USD, NSA | Monthly |
Imports of Goods | Mar 2024 | 52,300,000 | 48,100,000 | Ths. USD, NSA | Monthly |
Current Account Balance | Feb 2024 | 6,858 | 3,045 | Mil. USD, NSA | Monthly |
Exports of Goods and Services | 2023 Q4 | 258,426 | 243,500 | Bil. KRW, SA | Quarterly |
Imports of Goods and Services | 2023 Q4 | 247,005 | 237,104 | Bil. KRW, SA | Quarterly |
Net Exports | 2023 Q4 | 11,421 | 6,396 | Bil KRW, SA | Quarterly |
Government | Reference | Last | Previous | Units | Frequency |
Government Expenditures | Feb 2024 | 122,383 | 53,443 | Bil. KRW, NSA | Monthly |
Government Budget Balance | Feb 2024 | -29,902 | 11,237 | Bil. KRW YTD, NSA | Monthly |
Government Revenues | Feb 2024 | 92,482 | 64,680 | Bil. KRW YTD, NSA | Monthly |
Outstanding Public Debt | 2023 Q4 | 663,631 | 649,322 | Mil. USD, NSA | Quarterly |
Markets | Reference | Last | Previous | Units | Frequency |
Lending Rate | 26 Apr 2024 | 3.5 | 3.5 | %, NSA | Daily |
Stock Market Index | 25 Apr 2024 | 2,628 | 2,675 | Index, NSA | Daily |
Treasury Bills (over 31 days) | Mar 2024 | 3.37 | 3.43 | % p.a., NSA | Monthly |
Money Market Rate | Mar 2024 | 3.46 | 3.58 | % p.a., NSA | Monthly |
Average Long-term Government Bond | Mar 2024 | 3.39 | 3.43 | % p.a., NSA | Monthly |
Real Estate | Reference | Last | Previous | Units | Frequency |
Vacancy | Jan 2024 | 63,755 | 62,489 | #, NSA | Monthly |
Building Permits | 2021 | 173,206 | 147,310 | Ths. m² | Annual |
Residential Building Permits | 2021 | 38,491 | 33,229 | Ths. m² | Annual |
Consumer | Reference | Last | Previous | Units | Frequency |
Consumer Confidence | Apr 2024 | 100.7 | 100.7 | Index, NSA | Monthly |
Real Retail Sales | 2024 Q1 | 45,486 | 44,864 | Bil. Ch. 2015 KRW, SA | Quarterly |
Retail Sales | Dec 2017 | 123.7 | 128.9 | Index 2010=100, SA | Monthly |
Business | Reference | Last | Previous | Units | Frequency |
Business Confidence | Mar 2024 | 69 | 68 | Diffusion Index, NSA | Monthly |
Real Change in Inventories | 2024 Q1 | -2,325 | 2,690 | Bil. Ch. 2015 KRW, SA | Quarterly |
Industrial Production | Feb 2024 | 101 | 109.4 | Index 2020=100, NSA | Monthly |
Change in Inventories | 2023 Q4 | -973 | -5,080 | Bil. KRW, SA | Quarterly |
Demographics | Reference | Last | Previous | Units | Frequency |
Death Rate | 2100 | 17.13 | 17.25 | # per Ths. pop., NSA | Annual |
Birth Rate | 2100 | 5.7 | 5.71 | # per Ths. pop., NSA | Annual |
Population | 2050 | 47,731,321 | 48,162,628 | Person, NSA | Annual |
Births | 2022 | 249,000 | 260,562 | #, NSA | Annual |
Deaths | 2022 | 372,800 | 317,680 | #, NSA | Annual |
Net Migration | 2017 | 200,000 | # | Annual |