Expenditure-side Real GDP at Current Purchasing Power Parities for Republic of Korea
CGDPESKRA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,080,972.63
Year-over-Year Change
23.21%
Date Range
1/1/1953 - 1/1/2019
Summary
This economic trend measures the expenditure-side real GDP of South Korea, adjusted for purchasing power parity. It provides a comprehensive view of the country's economic output and is a key indicator for economists and policymakers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The expenditure-side real GDP at current purchasing power parities (PPPs) for South Korea represents the total value of all goods and services produced within the country, adjusted for differences in price levels between South Korea and the United States. This metric allows for more accurate international comparisons of economic activity.
Methodology
The data is collected and calculated by the OECD using established national accounts methodologies.
Historical Context
This trend is widely used by economists, investors, and policymakers to assess South Korea's economic performance and competitiveness.
Key Facts
- South Korea is the 4th largest economy in Asia.
- Its GDP per capita on a PPP basis is around $43,000.
- The service sector accounts for over 60% of South Korea's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of all goods and services produced within South Korea, adjusted for differences in price levels between South Korea and the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate representation of South Korea's economic output and allows for better international comparisons, making it a key indicator for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the OECD using established national accounts methodologies.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, investors, and policymakers to assess South Korea's economic performance and competitiveness.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Current Purchasing Power Parities for Republic of Korea (CGDPESKRA666NRUG), retrieved from FRED.