Annual growth of general government final consumption expenditure in Republic of Korea
Republic of Korea: Annual growth of general government final consumption expenditure was 1.31 in 2023. ▼ Falling
Annual growth of general government final consumption expenditure in Republic of Korea, 2000–2023
Source: Our World in Data.
Analysis
The most recent figure for annual growth of general government final consumption expenditure in Republic of Korea is 1.31, measured in 2023.
That represents a change of down 67.4% on the previous year and down 72.6% over ten years.
Over the whole period, annual growth of general government final consumption expenditure in Republic of Korea peaked at 7.64 in 2006 and was at its lowest, 0.68, in 2000.
Republic of Korea ranks 101st of 167 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 24 years of available data.
Annual growth of general government final consumption expenditure in Republic of Korea, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 0.68 | — |
| 2001 | 6.45 | +848.5% |
| 2002 | 6.54 | +1.4% |
| 2003 | 5.06 | -22.6% |
| 2004 | 4.6 | -9.1% |
| 2005 | 5.34 | +16.1% |
| 2006 | 7.64 | +43.1% |
| 2007 | 6.53 | -14.5% |
| 2008 | 4.82 | -26.2% |
| 2009 | 6.65 | +38.0% |
| 2010 | 5.62 | -15.5% |
| 2011 | 2.56 | -54.4% |
| 2012 | 4.49 | +75.4% |
| 2013 | 4.78 | +6.5% |
| 2014 | 4.27 | -10.7% |
| 2015 | 3.81 | -10.8% |
| 2016 | 4.43 | +16.3% |
| 2017 | 3.93 | -11.3% |
| 2018 | 5.33 | +35.6% |
| 2019 | 6.4 | +20.1% |
| 2020 | 5.09 | -20.5% |
| 2021 | 5.48 | +7.7% |
| 2022 | 4.02 | -26.6% |
| 2023 | 1.31 | -67.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 5.43 | 0.68 | 7.64 | 10 |
| 2010s | 4.56 | 2.56 | 6.4 | 10 |
| 2020s | 3.98 | 1.31 | 5.48 | 4 |
Countries ranked near Republic of Korea
More economy & growth data for Republic of Korea
- Manufacturing, value added (current US$), per unit of GDP 0.2743 current US$ per US$ of GDP (2025)
- Manufacturing, value added (current US$), per capita 9,936 current US$ per person (2025)
- Manufacturing, value added (current LCU), per unit of GDP 390.12 current LCU per US$ of GDP (2025)
- Manufacturing, value added (current LCU), per capita 14.13 million current LCU per person (2025)
- Manufacturing, value added (constant 2015 US$), per unit of GDP 0.292 constant 2015 US$ per US$ of GDP (2025)
- Manufacturing, value added (constant 2015 US$), per capita 10,578 constant 2015 US$ per person (2025)
- Manufacturing, value added (constant LCU), per capita 12.06 million constant LCU per person (2025)
- Industry (including construction), value added (current US$), annual 1.1 % change on previous year (2025)
- Industry (including construction), value added (current US$), per 0.3433 current US$ per US$ of GDP (2025)
- Industry (including construction), value added (current US$), per 12,437 current US$ per person (2025)
Frequently asked questions
- What is annual growth of general government final consumption expenditure in Republic of Korea?
- Annual growth of general government final consumption expenditure in Republic of Korea was 1.31 in 2023, according to Our World in Data.
- What is the highest annual growth of general government final consumption expenditure recorded in Republic of Korea?
- The highest recorded value was 7.64 in 2006.
- What is the lowest annual growth of general government final consumption expenditure recorded in Republic of Korea?
- The lowest recorded value was 0.68 in 2000.
- How does Republic of Korea rank for annual growth of general government final consumption expenditure?
- Republic of Korea ranks 101st out of 167 countries with data for 2023.
- Is annual growth of general government final consumption expenditure rising or falling in Republic of Korea?
- Over the last ten years it is down 72.6%. The long-run trend across the full record is falling.
- Where does this Republic of Korea data come from?
- The figures come from Our World in Data, published as part of Annual growth of general government final consumption expenditure. Statizoid updates them automatically from the source API.
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