Republic of Korea vs Panama: Government spending as share of GDP vs. GDP per capita
Republic of Korea
22.5%
in 2024
Panama
23.1%
in 2024
Republic of Korea rank
108th
Panama rank
106th
Government spending as share of GDP vs. GDP per capita over time
- Republic of Korea
- Panama
How they compare
Panama currently reports 23.1% against 22.5% in Republic of Korea, a difference of 0.6%.
The two have swapped places 11 times across 72 shared years of data; in 1953 it was Republic of Korea ahead.
Republic of Korea ranks 108th and Panama ranks 106th of 151 countries.
Across the 8 decades both report, Republic of Korea averaged higher in 3 and Panama in 5.
Head to head by decade
| Decade | Republic of Korea | Panama | Difference | Ahead |
|---|---|---|---|---|
| 1950s | 19.3% | 15.1% | 4.2% | Republic of Korea |
| 1960s | 17.3% | 16.2% | 1.1% | Republic of Korea |
| 1970s | 17.0% | 19.3% | 2.3% | Panama |
| 1980s | 15.6% | 40.1% | 24.5% | Panama |
| 1990s | 15.0% | 26.5% | 11.5% | Panama |
| 2000s | 18.0% | 22.9% | 4.9% | Panama |
| 2010s | 18.9% | 22.3% | 3.4% | Panama |
| 2020s | 24.0% | 23.4% | 0.6% | Republic of Korea |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher government spending as share of gdp vs. gdp per capita, Republic of Korea or Panama?
- Panama, at 23.1% against 22.5% in Republic of Korea as of 2024.
- What is the difference in government spending as share of gdp vs. gdp per capita between Republic of Korea and Panama?
- 0.6%, with Panama ahead.
- How many years of comparable data are there for Republic of Korea and Panama?
- 72 years are reported by both, from 1953 to 2024.
- How do Republic of Korea and Panama rank globally for government spending as share of gdp vs. gdp per capita?
- Republic of Korea ranks 108th and Panama ranks 106th of 151 countries.
- Where does this data come from?
- International Monetary Fund (2025) – with minor processing by Our World in Data, published as Government spending as share of GDP vs. GDP per capita. Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Sum of all the money spent by the government on goods and services, as a percentage of GDP. It includes interest paid on government debt.