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▶ National Accounts in the Year 2017(Preliminary)
1. Overview
- Real gross domestic product (chained volume measure of GDP) grew by 3.1 percent in 2017.
- The growth in real GDP was mainly due to increases in construction and facility investment growth, and the expansion of private and government consumption.
- Real gross national income (chained volume measure of GNI) increased by 3.1 percent over the previous year.
2. GDP Analyzed by Production Category
- Agriculture, forestry & fishing increased by 0.3 percent in 2017, mainly due to the growth of aquaculture.
- Manufacturing increased by 4.4 percent. While transportation equipment contracted, the growth in machinery & equipment and electrical & electronic equipment expanded.
- Construction rose by 7.1 percent. While civil engineering decreased by 3.0 percent, residential & non-residential building construction increased.
- Services showed a slower expansion of 2.1 percent. While the growth of finance & insurance expanded, the growth in wholesale & retail trade and cultural & other services slowed.
3. GDP Analyzed by Expenditure Category
- Private consumption grew by 2.6 percent in 2017, with an increase in the consumption of durable goods.
- Gross fixed capital formation rose by 8.6 percent. Construction investment increased by 7.6 percent, mainly owing to the growth in residential building construction. Facilities investment increased by 14.6 percent, driven by investment in general machinery and precision instruments. Intellectual property products investment increased by 3.0 percent.
- Exports of goods & services went up by 1.9 percent, as the exports of semiconductor and machinery equipment increased.
이미지 확대
4. Economic Size and GNI Per Capita
- In 2017, gross domestic product at current prices (nominal GDP) increased by 5.4 percent to 1,730.4 trillion won. GNI per capita in US dollar terms marked a year-on-year increase of 7.5 percent to reach $29,745 in 2017.
5. GDP Deflator
- The GDP deflator rose by 2.3 percent in 2017.
6. Saving Ratio and Investment Ratio
- The gross saving ratio rose by 0.2 percentage points, from 36.1 percent in 2016 to 36.3 percent in 2017. The gross domestic investment ratio grew by 1.9 percentage points, from 29.3 percent to 31.2 percent.
※ Further statistics may be found at the Bank of Korea`s Economic Statistics System website (http://ecos.bok.or.kr).
(Source: The Bank of Korea, 28/03/2018)
1. Overview
- Real gross domestic product (chained volume measure of GDP) grew by 3.1 percent in 2017.
- The growth in real GDP was mainly due to increases in construction and facility investment growth, and the expansion of private and government consumption.
- Real gross national income (chained volume measure of GNI) increased by 3.1 percent over the previous year.
2. GDP Analyzed by Production Category
- Agriculture, forestry & fishing increased by 0.3 percent in 2017, mainly due to the growth of aquaculture.
- Manufacturing increased by 4.4 percent. While transportation equipment contracted, the growth in machinery & equipment and electrical & electronic equipment expanded.
- Construction rose by 7.1 percent. While civil engineering decreased by 3.0 percent, residential & non-residential building construction increased.
- Services showed a slower expansion of 2.1 percent. While the growth of finance & insurance expanded, the growth in wholesale & retail trade and cultural & other services slowed.
3. GDP Analyzed by Expenditure Category
- Private consumption grew by 2.6 percent in 2017, with an increase in the consumption of durable goods.
- Gross fixed capital formation rose by 8.6 percent. Construction investment increased by 7.6 percent, mainly owing to the growth in residential building construction. Facilities investment increased by 14.6 percent, driven by investment in general machinery and precision instruments. Intellectual property products investment increased by 3.0 percent.
- Exports of goods & services went up by 1.9 percent, as the exports of semiconductor and machinery equipment increased.
이미지 확대4. Economic Size and GNI Per Capita
- In 2017, gross domestic product at current prices (nominal GDP) increased by 5.4 percent to 1,730.4 trillion won. GNI per capita in US dollar terms marked a year-on-year increase of 7.5 percent to reach $29,745 in 2017.
5. GDP Deflator
- The GDP deflator rose by 2.3 percent in 2017.
6. Saving Ratio and Investment Ratio
- The gross saving ratio rose by 0.2 percentage points, from 36.1 percent in 2016 to 36.3 percent in 2017. The gross domestic investment ratio grew by 1.9 percentage points, from 29.3 percent to 31.2 percent.
※ Further statistics may be found at the Bank of Korea`s Economic Statistics System website (http://ecos.bok.or.kr).
(Source: The Bank of Korea, 28/03/2018)
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