Commodity market report
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4 Pages

South Korea long-term economic outlook Q3 2014

South Korea long-term economic outlook Q3 2014

Report summary

Considering the mix of challenges and opportunities South Korea faces in the longer term, Wood Mackenzie forecasts its real GDP growth to moderate from 3.1% in 2020 to 2.5% by 2035. Fast ageing population will be a drag on economic growth. In addition, the country faces intensifying competition from emerging economies (esp. China) which have lower manufacturing costs. The government has announced a three-year economic reform programme but progress and details are lacking to date.

What's included?

This report includes 4 file(s)

  • South Korea long-term economic outlook Q3 2014 PDF - 297.69 KB 4 Pages, 1 Tables, 4 Figures
  • GDP Forecast Jul 2014.xls XLS - 1.58 MB
  • IP Forecast Jul 2014.xls XLS - 1.40 MB
  • Latest Population Forecast (with charts).xls XLS - 3.55 MB


This Economic Outlook presents our macroeconomic outlook to 2035 at the country level.

Specifically we assess the structure of the economy and present the GDP and industrial production outlook.

The long-term outlook is underpinned by a set of GDP models which take account of long-term structural drivers of GDP including demographics, investment and productivity growth.

Finally, we highlight the key risks facing our outlook, both upside and downside.

Wood Mackenzie's macroeconomic forecasts underpin all our commodity demand analysis, ensuring we continually deliver an integrated and consistent view.

  • Executive summary
    • Economic Indicators
  • Market structure
  • Economic outlook
    • Population by Age Cohort (Million)
    • Real GDP (Annual Growth)
  • Risks and uncertainties
    • Downside
    • Upside

In this report there are 5 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Market structure
    • GDP by sector (% of GDP)
    • GDP by expenditure (USD billion, 2010 prices)
  • Economic outlook
    • Economic outlook: Image 1
    • Economic outlook: Image 2
  • Risks and uncertainties
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Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

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At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.