Government procurement share gdp in South Korea
South Korea: Government procurement share gdp was 13.87 in 2024. ▲ Rising
Latest (2024)
13.87
Change on year
down 3.0%
World rank
23rd
of 43 countries
All-time high
14.3
in 2023
All-time low
10.99
in 2007
Years of data
18
2007–2024
Government procurement share gdp in South Korea, 2007–2024
Source: Our World in Data.
Analysis
In 2024, government procurement share gdp in South Korea stood at 13.87.
The figure is down 3.0% on the previous year and up 19.0% over ten years.
Over the whole period, government procurement share gdp in South Korea peaked at 14.3 in 2023 and was at its lowest, 10.99, in 2007.
That places South Korea 23rd out of 43 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 18 years of available data.
Government procurement share gdp in South Korea, year by year
| Year | Value | Change |
|---|---|---|
| 2007 | 10.99 | — |
| 2008 | 11.53 | +4.9% |
| 2009 | 13.13 | +13.9% |
| 2010 | 11.96 | -8.9% |
| 2011 | 11.83 | -1.2% |
| 2012 | 11.78 | -0.4% |
| 2013 | 11.96 | +1.5% |
| 2014 | 11.66 | -2.5% |
| 2015 | 11.68 | +0.2% |
| 2016 | 11.83 | +1.3% |
| 2017 | 11.84 | +0.0% |
| 2018 | 12.21 | +3.2% |
| 2019 | 13.28 | +8.7% |
| 2020 | 13.78 | +3.8% |
| 2021 | 13.72 | -0.5% |
| 2022 | 13.95 | +1.7% |
| 2023 | 14.3 | +2.5% |
| 2024 | 13.87 | -3.0% |
South Korea compared with similar countries
- South Korea's 13.87 is below the median for East Asia & Pacific, which is 17.13, 81% of the median. (5 countries reporting)
- South Korea's 13.87 is below the median for high income countries, which is 14.02, 99% of the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 11.88 | 10.99 | 13.13 | 3 |
| 2010s | 12 | 11.66 | 13.28 | 10 |
| 2020s | 13.93 | 13.72 | 14.3 | 5 |
Countries ranked near South Korea
More economy & growth data for South Korea
- Real gdp growth, annual growth rate -49.75 % change on previous year (2025)
- SDRs holdings, US dollar, annual growth rate 7.89 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0085 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 307.17 units per person (2025)
- SDRs holdings, SDR, annual growth rate 2.74 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0062 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 224.29 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 4.58 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0047 units per US$ of GDP (2025)
- IMF holdings of currency, US dollar, per capita 168.75 units per person (2025)
Frequently asked questions
- What is government procurement share gdp in South Korea?
- Government procurement share gdp in South Korea was 13.87 in 2024, according to Our World in Data.
- What is the highest government procurement share gdp recorded in South Korea?
- The highest recorded value was 14.3 in 2023.
- What is the lowest government procurement share gdp recorded in South Korea?
- The lowest recorded value was 10.99 in 2007.
- How does South Korea rank for government procurement share gdp?
- South Korea ranks 23rd out of 43 countries with data for 2024.
- Is government procurement share gdp rising or falling in South Korea?
- Over the last ten years it is up 19.0%. The long-run trend across the full record is rising.
- Where does this South Korea data come from?
- The figures come from Our World in Data, published as part of Government procurement share gdp. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 18 observations, free to reuse under CC BY 4.0 (Our World in Data).