Central government debt, total in Republic of Korea
Republic of Korea: Central government debt, total was 47.8% in 2024. ◆ Volatile
Central government debt, total in Republic of Korea, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Republic of Korea recorded 47.8% for central government debt, total in 2024.
Compared with earlier readings it is down 1.5% on the previous year and up 37.3% over ten years.
Over the whole period, central government debt, total in Republic of Korea peaked at 48.6% in 2023 and was at its lowest, 6.6%, in 1996.
Republic of Korea ranks 50th of 83 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Central government debt, total in Republic of Korea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1990 | 7.2% | — |
| 1991 | 9.9% | +37.6% |
| 1992 | 9.7% | -2.5% |
| 1993 | 8.9% | -8.0% |
| 1994 | 7.9% | -11.1% |
| 1995 | 7.0% | -11.9% |
| 1996 | 6.6% | -4.9% |
| 1997 | 8.4% | +26.5% |
| 2012 | 31.0% | +269.6% |
| 2013 | 33.4% | +7.6% |
| 2014 | 34.8% | +4.3% |
| 2015 | 35.7% | +2.6% |
| 2016 | 36.1% | +1.2% |
| 2017 | 35.4% | -1.9% |
| 2018 | 35.5% | +0.2% |
| 2019 | 37.7% | +6.1% |
| 2020 | 43.8% | +16.1% |
| 2021 | 45.8% | +4.7% |
| 2022 | 47.6% | +3.9% |
| 2023 | 48.6% | +2.0% |
| 2024 | 47.8% | -1.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 8.2% | 6.6% | 9.9% | 8 |
| 2010s | 35.0% | 31.0% | 37.7% | 8 |
| 2020s | 46.7% | 43.8% | 48.6% | 5 |
Countries ranked near Republic of Korea
More economy & growth data for Republic of Korea
- Exports of goods and services (current LCU), annual growth rate 7.46 % change on previous year (2025)
- Exports of goods and services (current LCU), per unit of GDP 650.96 current LCU per US$ of GDP (2025)
- Exports of goods and services (current LCU), per capita 23.58 million current LCU per person (2025)
- Exports of goods and services (constant 2015 US$), annual growth rate 4.22 % change on previous year (2025)
- Exports of goods and services (constant 2015 US$), per unit of GDP 0.4777 constant 2015 US$ per US$ of GDP (2025)
- Exports of goods and services (constant 2015 US$), per capita 17,305 constant 2015 US$ per person (2025)
- Gross fixed capital formation (current US$), annual growth rate -5.81 % change on previous year (2025)
- Gross fixed capital formation (current US$), per unit of GDP 0.2833 current US$ per US$ of GDP (2025)
- Gross fixed capital formation (current US$), per capita 10,263 current US$ per person (2025)
- Gross fixed capital formation (current LCU), per unit of GDP 402.98 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is central government debt, total in Republic of Korea?
- Central government debt, total in Republic of Korea was 47.8% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest central government debt, total recorded in Republic of Korea?
- The highest recorded value was 48.6% in 2023.
- What is the lowest central government debt, total recorded in Republic of Korea?
- The lowest recorded value was 6.6% in 1996.
- How does Republic of Korea rank for central government debt, total?
- Republic of Korea ranks 50th out of 83 countries with data for 2024.
- Is central government debt, total rising or falling in Republic of Korea?
- Over the last ten years it is up 37.3%. The long-run trend across the full record is volatile.
- Where does this Republic of Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Central government debt, total (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. Central government is the part of general government that includes all administrative departments of the national executive, legislative, and judicial functions, other central agencies and those non-market producers controlled by the central government, whose competence extends normally over the whole economic territory. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.