Korea, Rep. GDP: $3.306 trillion

2024 AND 2025 WORLD ECONOMICS ESTIMATE FOR GDP PPP

World Economics estimates Korea's 2024 GDP at $3.306 trillion in PPP terms (Purchasing Power Parity) and an initial estimate of $3.378 trillion for 2025. This figure is 23% higher than the official estimate published by the World Bank.

World Economics' methodology incorporates crucial factors often overlooked in official estimates, such as:

  • The size of the informal economy: It is estimated that 23% of Korea's economic activity occurs outside the formal sector.
  • Outdated GDP base year data: Many countries use outdated base years for their GDP calculations, leading to an underestimation of economic growth. Korea uses a chain-weighted GDP base year.

By adjusting for these factors where required, World Economics provides a more accurate picture of Korea's true economic size and potential.

For reference, offical data reported Korea's GDP as $1.808 trillion in 2015 constant prices and $1.755 trillion in current prices for 2024.

Data source: World Economics Research, London



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Billions, Int$		 2025 Estimate
Billions, Int$		 World Economics
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China $41,303.81 $43,203.79 C
United States $26,888.91 $27,614.91 A
India $20,547.42 $21,883.00 C
Russia $7,581.82 $7,687.97 B
Japan $6,310.33 $6,379.74 A
Indonesia $5,920.05 $6,221.97 C
Germany $5,762.32 $5,779.61 A
Brazil $5,479.48 $5,600.03 B
France $4,415.58 $4,450.91 A
United Kingdom $4,146.90 $4,213.25 A
Mexico $4,046.96 $4,103.62 C
Türkiye $3,929.20 $4,035.29 B
Italy $3,769.99 $3,796.38 A
Korea, Rep. $3,305.68 $3,378.41 A
Egypt $2,920.69 $3,040.44 D
Spain $2,788.03 $2,852.15 A
Saudi Arabia $2,693.28 $2,782.16 C
Canada $2,515.05 $2,565.35 A
Nigeria $2,512.89 $2,593.30 E
Thailand $2,225.57 $2,292.34 D
Bangladesh $2,089.39 $2,183.41 E
Vietnam $2,056.12 $2,181.54 E
Poland $2,022.49 $2,093.28 B
Pakistan $1,995.86 $2,059.72 D
Australia $1,780.35 $1,817.73 A
Philippines $1,733.30 $1,839.03 B
Argentina $1,715.56 $1,801.34 C
Malaysia $1,704.98 $1,780.00 B
Taiwan $1,595.04 $1,638.11 A
Netherlands $1,366.77 $1,388.64 A
Colombia $1,294.71 $1,327.08 B
South Africa $1,275.13 $1,294.26 B
Romania $1,004.17 $1,037.30 B
Kazakhstan $996.63 $1,042.48 D
United Arab Emirates $927.72 $975.03 B
Belgium $904.18 $915.03 A
Ukraine $896.68 $919.10 B
Peru $836.10 $857.84 D
Singapore $836.04 $856.94 A
Algeria $822.25 $846.92 C
Switzerland $795.75 $806.10 A
Sweden $770.56 $789.06 A
Chile $724.59 $741.98 B
Ireland $681.04 $696.03 A
Austria $632.34 $639.30 A
Czechia $606.91 $620.87 A
Ethiopia $584.05 $622.01 E
Hong Kong $576.62 $593.92 D
Norway $560.09 $570.18 A
Israel $558.79 $573.88 B
Portugal $529.00 $541.17 A
Angola $526.17 $540.91 E
Kenya $506.84 $532.19 C
Myanmar $491.08 $496.48 E
Hungary $489.72 $503.92 B
Denmark $487.61 $495.41 A
Greece $471.92 $481.36 B
Morocco $441.26 $457.15 B
Uzbekistan $434.06 $458.80 D
Sri Lanka $432.28 $423.20 C
Tanzania $399.74 $423.72 D
Qatar $394.04 $401.53 D
Ghana $379.52 $396.22 C
Finland $365.63 $372.94 A
Ecuador $363.36 $367.72 D
Dominican Republic $356.12 $373.93 B
Belarus $355.44 $363.61 C
Guatemala $338.78 $350.98 C
Cote d'Ivoire $338.77 $360.45 C
Azerbaijan $329.56 $337.80 E
Congo, Dem. Rep $302.01 $317.11 E
Kuwait $297.98 $307.81 D
Bulgaria $284.44 $291.55 B
New Zealand $283.27 $288.65 A
Panama $247.41 $254.83 D
Slovak Republic $246.47 $251.15 A
Serbia $245.81 $255.89 C
Nepal $242.82 $254.72 E
Oman $237.85 $245.22 C
Uganda $216.87 $233.14 D
Cameroon $214.01 $222.99 D
Bolivia $212.58 $217.25 E
Croatia $212.06 $218.21 B
Tunisia $209.47 $212.82 D
Sudan $205.87 $222.95 E
Libya $180.06 $204.73 E
Costa Rica $177.92 $184.14 B
Afghanistan $176.62 $182.80 E
Paraguay $172.26 $178.80 D
Cambodia $167.54 $177.25 E
Lithuania $164.43 $168.71 A
Uruguay $161.47 $166.31 B
Jordan $138.89 $142.91 B
Zambia $134.53 $143.41 D
Georgia $134.14 $142.18 B
Senegal $133.30 $145.70 C
Turkmenistan $132.96 $136.02 D
Guyana $132.10 $151.13 D
Slovenia $126.28 $129.56 A
Bahrain $121.21 $125.09 D
Zimbabwe $116.24 $123.22 E
Honduras $115.72 $119.78 E
Mali $112.77 $117.73 E
El Salvador $107.48 $110.70 C
Gabon $100.67 $103.29 E
Luxembourg $98.00 $100.65 A
Guinea $97.02 $102.55 E
Madagascar $96.41 $100.84 E
Laos $94.18 $97.48 E
Burkina Faso $92.41 $97.77 C
Armenia $87.97 $92.28 B
Latvia $87.31 $89.32 A
Bosnia and Herzegovina $86.40 $88.99 D
Lebanon $85.31 $80.27 C
Benin $84.34 $89.82 C
Mozambique $83.56 $87.15 D
Nicaragua $80.53 $83.59 D
Niger $79.92 $85.75 D
Mongolia $77.44 $82.86 B
Congo, Rep. $76.27 $79.09 E
Botswana $70.43 $74.09 B
Estonia $69.88 $71.00 A
Tajikistan $69.67 $72.81 E
Papua New Guinea $67.37 $69.86 E
Rwanda $66.12 $70.41 C
Albania $65.67 $67.90 C
Chad $62.33 $64.70 E
Trinidad and Tobago $61.16 $62.63 C
Kyrgyzstan $60.96 $64.01 D
Cyprus $60.56 $62.43 B
Yemen, Rep. $59.33 $60.22 E
North Macedonia $59.08 $61.21 B
Moldova $55.08 $57.12 B
Brunei $54.59 $55.95 C
Malawi $53.53 $55.67 C
Haiti $52.09 $52.61 E
Mauritania $49.27 $51.34 C
Namibia $46.71 $48.67 C
Mauritius $43.57 $45.32 B
Malta $42.44 $44.14 B
Jamaica $42.32 $43.21 D
Togo $41.09 $43.27 C
Iceland $29.12 $29.82 A
Sierra Leone $27.61 $28.85 D
Eswatini $22.89 $23.85 D
Burundi $20.98 $21.72 E
Bahamas, The $19.76 $20.09 C
Bhutan $19.17 $20.55 E
Suriname $17.00 $17.51 C
Liberia $14.89 $15.75 E
Gambia $14.15 $14.97 D
Central African Republic $11.45 $11.78 E
Lesotho $9.43 $9.65 D
Guinea-Bissau $7.79 $8.18 E
Cabo Verde $6.70 $7.01 C
Comoros $4.28 $4.45 D

See: Data for individual countries by using country lists







Note: Data for years shown use end of of year values.

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         E: Extremely poor quality


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