a result, in 1992, economic policy focused on slowing the growth
rate of inflation and reducing the deficit. Annual growth slowed to
5%, still above the rate in most other countries of the world, and
recovered to 6.3% in 1993. The economy expanded by 8.3% in 1994,
driven by booming exports.

National product: GDP - purchasing power parity - $508.3 billion (1994
est.)

National product real growth rate: 8.3% (1994)

National product per capita: $11,270 (1994 est.)

Inflation rate (consumer prices): 5.6% (1994)

Unemployment rate: 2% (November 1994)

Budget:
revenues: $63 billion
expenditures: $63 billion, including capital expenditures of $NA (1995
est.)

Exports: $96.2 billion (f.o.b., 1994)
commodities: electronic and electrical equipment, machinery, steel,
automobiles, ships, textiles, clothing, footwear, fish
partners: US 26%, Japan 17%, EU 14%

Imports: $102.3 billion (c.i.f., 1994)
commodities: machinery, electronics and electronic equipment, oil,
steel, transport equipment, textiles, organic chemicals, grains
partners: Japan 26%, US 24%, EU 15%

External debt: $44.1 billion (1993)

Industrial production: growth rate 12.1% (1994 est.); accounts for
about 45% of GNP

Electricity:
capacity: 26,940,000 kW
production: 137 billion kWh
consumption per capita: 2,847 kWh (1993)

Industries: electronics, automobile production, chemicals,
shipbuilding, steel, textiles, clothing, footwear, food processing

Agriculture: accounts for 8% of GDP and employs 21% of work force
(including fishing and forestry); principal crops - rice, root crops,
barley, vegetables, fruit; livestock and livestock products - cattle,
hogs, chickens, milk, eggs; self-sufficient in food, except for wheat;
fish catch of 2.9 million metric tons, seventh-largest in world

Economic aid:
recipient: US commitments, including Ex-Im (FY70-89), $3.9 billion;
non-US countries (1970-89), $3 billion

Currency: 1 South Korean won (W) = 100 chun (theoretical)

Exchange rates: South Korean won (W) per US$1 - 790.48 (January 1995),
803.44 (1994), 802.67 (1993), 780.65 (1992), 733.35 (1991), 707.76
(1990)

Fiscal year: calendar year

@Korea, South:Transportation

Railroads:
total: 6,763 km
standard gauge: 6,716 km 1.435-meter gauge (525 km electrified; 847 km
double track)
narrow gauge: 47 km 0.610-meter gauge

Highways:
total: 63,200 km
paved: expressways 1,550 km
unpaved: NA
u