Description
South Korea Real Gross Domestic Product (GDP) in US Dollars is released by the Bank of Korea (BOK). This indicator measures the value of all goods and services produced domestically, adjusted for inflation and expressed in US dollars. It is a key indicator for assessing the economic performance and growth of South Korea. A higher GDP suggests a stronger economy, while a lower GDP indicates a weaker economy.
Real GDP is calculated by adjusting Nominal GDP for inflation using the GDP deflator. It includes the total value of consumption, investment, government spending, and net exports (exports minus imports). These figures are then converted to US dollars using the current exchange rate.
The data is updated quarterly, with preliminary estimates released approximately one month after the end of the quarter and final estimates released about two months after the quarter's end.