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Country Report South Korea March 2011
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HTMLData and charts: Annual data and forecast
| 2006a | 2007a | 2008a | 2009a | 2010b | 2011c | 2012c | |
| GDP | |||||||
| Nominal GDP (US$ bn) | 951.8 | 1,049.2 | 931.4 | 832.5 | 1,014.5 | 1,139.6 | 1,237.9 |
| Nominal GDP (W bn) | 908,744 | 975,013 | 1,026,452 | 1,063,059 | 1,172,767 | 1,265,906 | 1,358,564 |
| Real GDP growth (%) | 5.2 | 5.1 | 2.3 | 0.2 | 6.1a | 4.6 | 4.1 |
| Expenditure on GDP (% real change) | |||||||
| Private consumption | 4.7 | 5.1 | 1.3 | 0.2 | 4.1a | 3.0 | 3.6 |
| Government consumption | 6.6 | 5.4 | 4.3 | 5.0 | 3.5a | 1.5 | 3.7 |
| Gross fixed investment | 3.4 | 4.2 | -1.9 | -0.2 | 6.5a | 5.2 | 3.9 |
| Exports of goods & services | 11.4 | 12.6 | 6.6 | -0.8 | 14.2a | 7.2 | 5.9 |
| Imports of goods & services | 11.3 | 11.7 | 4.4 | -8.2 | 17.3a | 7.1 | 5.4 |
| Origin of GDP (% real change) | |||||||
| Agriculture | 1.5 | 4.0 | 5.6 | 1.6 | -4.6a | 3.0 | 2.0 |
| Industry | 6.6 | 6.0 | 2.0 | -0.6 | 11.2a | 5.0 | 4.8 |
| Services | 4.2 | 5.1 | 2.7 | 1.4 | 3.8a | 4.4 | 3.8 |
| Population and income | |||||||
| Population (m) | 48.7b | 49.0b | 49.2b | 49.4b | 49.5 | 49.6 | 49.8 |
| GDP per head (US$ at PPP) | 24,437b | 26,282b | 27,388b | 27,832b | 29,621 | 31,390 | 33,337 |
| Recorded unemployment (av; %) | 3.5 | 3.3 | 3.2 | 3.7 | 3.7a | 3.3 | 3.0 |
| Fiscal indicators (% of GDP) | |||||||
| General government revenue | 23.1 | 25.0 | 24.4 | 24.0 | 23.3 | 24.6 | 24.9 |
| General government expenditure | 22.7 | 21.5 | 23.3 | 25.7 | 22.0 | 23.5 | 23.6 |
| General government balance | 0.4 | 3.5 | 1.2 | -1.7 | 1.2 | 1.0 | 1.4 |
| Public debt | 25.7 | 27.2 | 24.4 | 23.5 | 22.7 | 23.1 | 23.1 |
| Prices and financial indicators | |||||||
| Exchange rate W:US$ (end-period) | 929.8 | 936.1 | 1,259.5 | 1,164.5 | 1,134.8a | 1,104.2 | 1,091.7 |
| Consumer prices (end-period; %) | 2.1 | 3.6 | 4.1 | 2.8 | 3.5a | 4.3 | 3.1 |
| Producer prices (av; %) | 0.9 | 1.4 | 8.6 | -0.2 | 3.8a | 6.1 | 3.1 |
| Stock of money M1 (% change) | 11.1 | 1.0 | 6.3 | 14.4 | 8.0 | 5.0 | 7.0 |
| Stock of money M2 (% change) | 4.4 | 0.3 | 15.9 | 12.2 | 14.0 | 5.0 | 5.5 |
| Lending interest rate (av; %) | 6.0 | 6.6 | 7.2 | 5.7 | 5.5a | 5.9 | 6.3 |
| Current account (US$ m) | |||||||
| Trade balance | 27,906 | 28,168 | 5,173 | 37,863 | 41,904 | 35,332 | 35,013 |
| Goods: exports fob | 331,842 | 379,045 | 434,699 | 358,217 | 464,287 | 570,011 | 605,349 |
| Goods: imports fob | -303,938 | -350,877 | -429,525 | -320,356 | -422,383 | -534,679 | -570,335 |
| Services balance | -18,958 | -19,767 | -5,739 | -6,636 | -11,229 | -9,323 | -12,194 |
| Income balance | 535 | 1,002 | 4,434 | 2,278 | 768 | 1,931 | 2,972 |
| Current transfers balance | -4,093 | -3,527 | -674 | -711 | -3,229 | -3,628 | -3,941 |
| Current-account balance | 5,385 | 5,876 | 3,197 | 32,790 | 28,214 | 24,312 | 21,851 |
| External debt (US$ m) | |||||||
| Debt stock | 262,117b | 380,061b | 381,121b | 370,780b | 374,985 | 394,497 | 409,121 |
| Debt service paid | 29,867b | 39,667b | 49,632b | 45,879b | 40,979 | 42,189 | 45,782 |
| Principal repayments | 18,783b | 22,395b | 33,179b | 35,629b | 34,026 | 34,862 | 36,275 |
| Interest | 11,085b | 17,271b | 16,453b | 10,250b | 6,954 | 7,327 | 9,507 |
| International reserves (US$ m) | |||||||
| Total international reserves | 238,956 | 262,224 | 201,220 | 270,012 | 291,571a | 315,231 | 325,105 |
| a Actual. b Economist Intelligence Unit estimates. c Economist Intelligence Unit forecasts. | |||||||
| Source: IMF, International Financial Statistics. | |||||||
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