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-1/6-
Nati
PRESS
RELEASE
EmbargoeduntilOctober27,2026,at8a.m.
2026-10-27
RealGrossDomesticProduct:ThirdQuarterof2026
(AdvanceEstimate)
。Quarter-on-quarter
Realgrossdomesticproduct(chainedvolumemeasureofGDP)increasedby1.0percentinthethirdquarterof2026comparedtothepreviousquarter.
Realgrossdomesticincome(GDI)increasedby3.4percentcomparedtothepreviousquarter.
Ontheexpenditureside,privateconsumptiondeclinedby0.2percentasexpendituresongoods(e.g.,vehicles,householdappliances)andservices(e.g.,financialservices,foodservices)bothdecreased.
Governmentconsumptionroseby1.9percentwithincreasedexpendituresongoodsandhealthcarebenefits.
Constructioninvestmentgrewby0.7percentascivilengineeringincreased.
Facilitiesinvestmentroseby4.1percent,mainlyduetoanincreaseinmachinery(e.g.,semiconductormanufacturingequipment).
Intellectualpropertyproductsinvestmentroseby2.3percentasR&Dandsoftwareincreased.
Exportsgrewby2.3percent,mainlyduetoincreasesinsemiconductorsandinmachinery&electricalequipment.Importsroseby2.4percentascrudeoilandsemiconductormanufacturingequipmentincreased.
-2/6-
GrowthRatesbyComponentofExpenditure
(atchained2020yearprices)
(S.A.series,percentagechangeoverpreviousquarter)
2024
2025p
2026p
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
GrossDomesticProduct
1.0
-0.2
0.1
0.2
-0.2
0.6
1.4
-0.1
1.8
0.6
1.0
Finalconsumptionexpenditure
0.9
0.2
0.5
0.1
0.1
0.8
1.2
0.5
0.3
0.3
0.3
(Private)
0.8
0.0
0.3
0.0
0.2
0.7
1.1
0.4
0.6
0.4
-0.2
(Government)
1.1
0.7
1.0
0.3
0.0
1.2
1.4
1.0
-0.4
0.1
1.9
Grossfixedcapitalformation
2.2
-1.2
-0.5
-1.0
-1.5
-0.7
0.7
-1.7
2.9
0.9
2.2
(Construction)
4.9
-2.3
-3.4
-3.5
-4.0
-0.7
0.2
-2.6
1.4
-0.1
0.7
(Facilities)
-1.5
-0.2
3.8
0.8
0.2
-1.8
1.3
-1.6
6.6
0.2
4.1
(Intellectualpropertyproducts)
1.6
-0.3
0.1
1.6
0.8
0.9
0.9
-0.2
0.9
3.4
2.3
Exportsofgoods&services
1.3
1.4
0.2
0.9
-0.9
4.1
2.6
-1.1
5.9
1.3
2.3
(Goods)
1.2
1.3
0.1
0.0
-1.5
4.3
2.7
-0.8
6.0
1.1
2.4
(Services)
1.9
1.5
0.4
5.5
2.2
2.8
2.5
-2.6
5.0
2.8
2.2
Importsofgoods&services
1.4
1.2
0.8
0.2
-0.5
3.0
1.6
-0.2
3.9
0.7
2.4
(Goods)
1.6
1.3
0.8
0.1
-1.4
1.9
2.6
-1.0
6.0
1.2
2.7
(Services)
0.6
0.7
1.1
0.4
2.6
6.5
-1.4
2.4
-2.8
-0.8
1.4
GrossDomesticIncome
2.2
-0.7
0.1
0.7
-0.1
1.1
0.8
1.9
8.7
3.7
3.4
-3/6-
Ontheproductionside,agriculture,forestry&fishinggrewby5.9percent,mainlyduetoincreasesincropyieldsandinfishing.
Manufacturingexpandedby2.0percent,centeredonincreasesincomputer,electronic&opticalproductsandinmachinery&equipment.
Electricity,gas&watersupplygrewby3.7percent,mainlyduetoanincreaseinelectricity.
Constructiongrewby2.0percentascivilengineeringincreased.
Servicesgrewby0.2percent,mainlyduetoincreasesinbusinessactivities,information&communication,andtransportation&storage.
GrowthRatesbyTypeofEconomicActivity
(atchained2020yearprices)
(S.A.series,percentagechangeoverpreviousquarter)
2024
2025p
2026p
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
GrossDomesticProduct
1.0
-0.2
0.1
0.2
-0.2
0.6
1.4
-0.1
1.8
0.6
1.0
Agriculture,forestry&fishing
2.3
2.2
-0.9
0.2
0.8
-1.7
1.7
-1.1
4.3
-7.2
5.9
Manufacturing
1.2
0.4
0.3
0.6
-0.6
2.1
1.7
-0.6
3.9
1.4
2.0
Electricity,gas&watersupply
-2.7
-0.3
4.9
-4.4
4.4
-6.0
4.9
-6.5
3.1
-0.6
3.7
Construction
5.4
-4.6
-4.0
-3.0
-1.5
-2.0
-0.3
-3.7
2.2
-1.9
2.0
Services1)
0.4
0.2
0.3
0.4
-0.1
0.7
1.2
0.6
0.6
1.0
0.2
Note:1)Includeswholesale&retailtrade,accommodation&foodservices;transportation&storage;
finance&insurance;realestate;information&communication;businessactivities;
publicadministration,defense&socialsecurity;education;humanhealth&socialwork;andcultural&otherservices.
-4/6-
@Year-on-year
RealGDP(chainedvolumemeasureofGDP)increasedby3.4percentyear-on-yearinthethirdquarterof2026.
GrowthRatesbyTypeofEconomicActivityandComponentofExpenditure
(atchained2020yearprices)
(originalseries,percentagechangeoverpreviousyear)
2024
2025p
2026p
Q1
Q2
Q3
Q4
Ann.
Q1
Q2
Q3
Q4
Ann.
Q1
Q2
Q3
GrossDomesticProduct
3.6
2.6
1.6
1.1
2.2
0.2
0.7
2.1
1.6
1.1
3.8
3.7
3.4
Agriculture,forestry&fishing
-0.5
-0.6
0.6
2.7
0.7
2.8
-1.3
1.6
-0.5
0.5
3.5
-2.5
1.6
Manufacturing
7.0
6.1
4.2
2.5
4.9
0.4
2.6
3.9
2.4
2.4
7.2
6.7
7.0
Electricity,gas&watersupply
7.6
4.0
8.9
-3.2
4.2
4.5
-2.0
-0.9
-4.4
-0.6
-5.0
0.3
-0.3
Construction
2.1
-1.5
-6.3
-6.2
-3.3
-12.4
-10.4
-6.9
-7.6
-9.2
-3.9
-3.8
-1.4
Services1)
2.3
1.7
1.4
1.3
1.7
1.0
1.3
2.3
2.4
1.7
3.2
3.4
2.4
Finalconsumptionexpenditure
1.0
1.6
2.0
1.6
1.6
0.9
1.4
2.2
2.7
1.8
2.8
2.3
1.5
(Private)
1.4
1.2
1.6
1.1
1.3
0.5
1.0
2.0
2.4
1.5
2.7
2.4
1.1
(Government)
-0.1
2.7
3.2
3.2
2.2
2.1
2.5
2.9
3.6
2.7
3.1
2.1
2.6
Grossfixedcapitalformation
1.2
-0.6
-0.3
-0.6
-0.1
-3.5
-4.2
-2.4
-3.3
-3.4
1.5
2.6
4.3
(Construction)
1.6
-0.2
-4.5
-4.5
-2.0
-12.7
-11.3
-7.9
-7.2
-9.7
-1.9
-1.2
-0.7
(Facilities)
-1.4
-2.9
5.6
3.1
1.0
4.7
2.7
0.7
-1.9
1.5
4.4
6.3
9.4
(Intellectualpropertyproducts)
4.1
1.6
1.1
2.8
2.4
2.2
3.3
4.2
2.3
3.0
2.5
5.0
6.5
Exportsofgoods&services
10.1
9.9
7.0
3.9
7.6
1.5
4.3
6.8
4.6
4.3
11.8
8.9
8.6
(Goods)
9.5
10.0
6.7
2.8
7.1
-0.1
2.9
5.5
4.5
3.3
12.6
9.1
8.8
(Services)
13.0
9.2
8.4
9.4
9.9
9.9
11.4
13.6
5.0
9.8
7.9
7.9
7.4
Importsofgoods&services
0.3
5.0
6.3
3.6
3.8
1.6
3.4
4.5
3.9
3.3
8.5
6.2
7.0
(Goods)
-3.5
3.0
5.9
3.9
2.2
0.7
1.3
3.4
2.1
1.9
9.7
9.0
9.1
(Services)
16.8
13.1
8.0
3.0
9.9
4.8
10.9
8.2
10.3
8.6
4.5
-2.6
0.0
GrossDomesticIncome
6.7
5.3
3.0
2.3
4.3
0.1
1.6
2.7
3.5
2.0
13.2
15.7
18.8
Note:1)Includeswholesale&retailtrade,accommodation&foodservices;transportation&storage;
finance&insurance;realestate;information&communication;businessactivities;
publicadministration,defense&socialsecurity;education;humanhealth&socialwork;andcultural&otherservices.
-5/6-
NationalIncomeStatistics
1.ScopeofMeasurement
ThenationalincomestatisticsestimatetotaleconomicactivityinKorea(i.e.,theproductionandexpendituresofalleconomicagents,includinghouseholds,enterprises,andthegovernment).
Productionboundary:goodsarecountedasoutputevenwhentheyarenotmeantforsale(e.g.,whentheyareforself-consumption);whereasinthecaseofservices,non-paiddomesticworkandpersonalservices(e.g.,forself-consumption)areexcludedfromtheproductionboundary.
Illegaleconomicactivities,suchassmuggling,gambling,andprostitution,arelikewisecurrentlynotincludedinnationalincome,eventhoughtheyshouldbecapturedasproductionactivitiesforacomprehensivemeasurementofproductionandexpenditures.
2.MethodsofMeasurement
Estimationundertheproductionapproach(production-sidenationalincome)iscarriedoutasfollows.
Nominalvalue-addedisderivedbyfirstestimatingthevaluesofoutputandintermediateinputandthensubtractingthevalueofintermediateinputfromthatofoutput.Ifthevalueoftheintermediateinputcannotbedeterminedseparately,itiscalculatedusingthevalue-addedratioobtainedfromtheBankofKorea’squarterlyandannualfinancialstatementanalysisreports.
Statisticsundertheexpenditureapproach(expenditure-sidenationalincome)areestimateddirectlyusingavarietyofrawdataontheamountsofmoneyspentonfinalproducts.
Statisticsundertheincomeapproach(distribution-sidenationalincome)areestimatedusingavarietyofrawdataonthedistributionofnominalvalue-addedgeneratedbyproduction.Operatingsurplus,incontrast,iscalculatedbysubtractingcompensationofemployeesandothercomponentsfromthenominalvalue-addedcalculatedundertheproductionapproach.
-6/6-
Thethreesetsofnationalincomestatistics,oneestimatedviatheproductionapproach,thesecondviatheexpenditureapproach,andthethirdviatheincomeapproach,shouldthereforebeidentical.Duetodifferencesinthedatausedandthemethodsofestimation,however,statisticaldiscrepanciesmayoccur,whichareidentifiedontheexpendituresside.
3.Dissemination
TheBankofKoreaofficiallyannouncesfivetypesofsequentialnationalincomestatistics:“advance”and“preliminary”quarterlyestimates;and“GrossNationalIncome(preliminary),”“NationalAccounts(preliminary),”and“NationalAccounts(final)”annualestimates.
The“advance”quarterlyestimatesarereleasedwithin28daysofthequarter’send,andgivethefirstlookatKorea’srealGDP,includingtheratesandamountsofgrowthbytypeofeconomicactivityandbycomponentofexpenditure.The“preliminary”quarterlyestimatesprovidemoredetailedanalyses(e.g.,ofGDPvaluedatcurrentpricesbytypeofeconomicactivityandbycomponentofexpenditureandofGNIandsavingsandinvestmentratios)within70daysoftheendofthequarter.
Variousconsolidatedaccounts,sectoralaccountsandsupportingtablesarepublishedinthe“GrossNationalIncome(preliminary),”“NationalAccounts(preliminary),”and“NationalAccounts(final)”annualestimates.“GrossNationalIncome(preliminary
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