Expenditure-side Real GDP at Chained Purchasing Power Parities for Republic of Korea
RGDPESKRA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,090,945.88
Year-over-Year Change
26.40%
Date Range
1/1/1953 - 1/1/2019
Summary
This economic indicator measures the real gross domestic product (GDP) of South Korea, adjusted for purchasing power parity (PPP). It provides a comprehensive view of the country's economic output and living standards relative to other nations.
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 chained PPPs for South Korea is a key measure of the country's economic performance. It accounts for differences in price levels between countries, allowing for more accurate international comparisons of living standards and productivity.
Methodology
The data is calculated by the World Bank using national accounts and price data.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to analyze South Korea's economic development and competitiveness.
Key Facts
- South Korea's 2021 GDP at PPP was $2.4 trillion.
- South Korea's GDP per capita at PPP was $46,778 in 2021.
- South Korea's real GDP growth rate was 4.0% in 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real gross domestic product (GDP) of South Korea, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides a more accurate assessment of South Korea's economic output and living standards compared to other nations, enabling better international comparisons.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and price data.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and international organizations use this trend to analyze South Korea's economic development, competitiveness, and living standards relative to other countries.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Chained Purchasing Power Parities for Republic of Korea (RGDPESKRA666NRUG), retrieved from FRED.