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Country Report South Korea March 2011
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HTMLData and charts: Quarterly data
| 2009 | 2010 | |||||||
| 1 Qtr | 2 Qtr | 3 Qtr | 4 Qtr | 1 Qtr | 2 Qtr | 3 Qtr | 4 Qtr | |
| General government finance (W bn) | ||||||||
| Revenue | 68,582 | 64,655 | 62,948 | 59,067 | 77,599 | 65,674 | 65,982 | n/a |
| Expenditure | 81,007 | 80,186 | 60,683 | 50,997 | 84,619 | 70,056 | 47,566 | n/a |
| Balance | -12,425 | -15,531 | 2,265 | 8,070 | -7,020 | -4,382 | 18,416 | n/a |
| Output (seasonally adjusted) | ||||||||
| GDP at constant 2000 prices (W bn) | 236,906 | 242,528 | 250,272 | 250,707 | 256,024 | 259,688 | 261,588 | 263,011 |
| GDP at constant 2000 prices (% change, year on year) | -4.1 | -2.1 | 1.1 | 6.1 | 8.1 | 7.1 | 4.5 | 4.9 |
| Industrial production index (2002=100) | 105.9 | 117.5 | 125.0 | 127.7 | 133.9 | 139.5 | 141.1 | 140.4 |
| Industrial production (% change, year on year) | -15.6 | -5.9 | 2.5 | 18.8 | 26.4 | 18.8 | 12.9 | 9.9 |
| Employment, wages and prices | ||||||||
| Employment ('000) | 22,904 | 23,737 | 23,751 | 23,630 | 23,036 | 24,170 | 24,120 | 23,988 |
| Employment (% change, year on year) | -0.6 | -0.6 | 0.0 | 0.0 | 0.6 | 1.8 | 1.6 | 1.5 |
| Unemployment rate (% of labour force) | 3.8 | 3.8 | 3.6 | 3.3 | 4.7 | 3.5 | 3.5 | 3.3 |
| Average monthly wages, mining & manufacturing (W m) | 2,644 | 2,595 | 2,635 | 2,796 | 2,796 | n/a | n/a | n/a |
| Average monthly wages, mining & manufacturing (% change, year on year) | -2.3 | -3.7 | -8.0 | 1.1 | 5.8 | n/a | n/a | n/a |
| Consumer prices (2005=100) | 111.6 | 112.7 | 113.3 | 113.5 | 114.6 | 115.6 | 116.6 | 117.6 |
| Consumer prices (% change, year on year) | 3.9 | 2.8 | 2.0 | 2.4 | 2.7 | 2.6 | 2.9 | 3.6 |
| Producer prices (2000=100) | 110.2 | 110.3 | 111.5 | 111.4 | 113.1 | 114.9 | 115.5 | 117.0 |
| Producer prices (% change, year on year) | 4.2 | -1.0 | -3.2 | -0.6 | 2.6 | 4.1 | 3.5 | 5.0 |
| Financial indicators | ||||||||
| Exchange rate W:US$ (av) | 1,416 | 1,285 | 1,239 | 1,168 | 1,144 | 1,166 | 1,183 | 1,132 |
| Exchange rate W:US$ (end-period) | 1,384 | 1,274 | 1,178 | 1,165 | 1,131 | 1,210 | 1,140 | 1,135 |
| Deposit rate (av; %) | 3.6 | 3.0 | 3.2 | 4.0 | 4.3 | 3.5 | 3.9 | 3.7 |
| Lending rate (av; %) | 5.7 | 5.4 | 5.6 | 5.9 | 5.8 | 5.4 | 5.5 | 5.4 |
| 3-month money market rate (av; %) | 2.1 | 1.9 | 2.0 | 2.0 | 2.0 | 2.0 | 2.3 | 2.4 |
| Money supply, M1 (end-period; W trn) | 346 | 375 | 380 | 389 | 385 | 407 | 398 | 428 |
| Money supply, M1 (% change, year on year) | 17.7 | 19.9 | 20.5 | 17.8 | 11.2 | 8.5 | 4.9 | 9.9 |
| Money supply, M2 (end-period; W bn) | 1,467 | 1,510 | 1,541 | 1,567 | 1,609 | 1,646 | 1,653 | 1,661 |
| Money supply, M2 (% change, year on year) | 11.5 | 10.3 | 10.7 | 9.9 | 9.7 | 9.0 | 7.2 | 6.0 |
| KOSPI Composite stockmarket index (end-period; Jan 4th 1980=100) | 1,206 | 1,390 | 1,673 | 1,683 | 1,693 | 1,698 | 1,873 | 2,051 |
| KOSPI Composite stockmarket index (% change, year on year) | -52.2 | -34.2 | -0.5 | 74.9 | 73.7 | 34.7 | 17.3 | 25.7 |
| Foreign trade (US$ m) | ||||||||
| Exports fob | 74,421 | 90,360 | 94,781 | 103,971 | 101,084 | 120,238 | 116,315 | 128,747 |
| Imports cif | -71,418 | -73,970 | -84,845 | -92,852 | -98,156 | -105,631 | -105,698 | -115,727 |
| Trade balance | 3,004 | 16,390 | 9,935 | 11,120 | 2,928 | 14,607 | 10,617 | 13,019 |
| Foreign payments (US$ m) | ||||||||
| Merchandise trade balance | 2,819 | 13,553 | 10,915 | 10,579 | 4,785 | 12,240 | 12,542 | 12,336 |
| Services balance | -26 | -1,291 | -2,663 | -2,660 | -4,201 | -1,873 | -2,955 | -2,201 |
| Income balance | 394 | -151 | 949 | 1,085 | 546 | -1,007 | 1,296 | -68 |
| Net transfer payments | 1,356 | -553 | -587 | -928 | -867 | -503 | -953 | -906 |
| Current-account balance | 4,543 | 11,557 | 8,613 | 8,077 | 263 | 8,858 | 9,931 | 9,161 |
| Reserves excl gold (end-period) | 206,265 | 231,657 | 254,169 | 269,916 | 272,252 | 274,140 | 289,696 | 291,491 |
| Sources: Bank of Korea; IMF, International Financial Statistics. | ||||||||
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