Government revenues as a share of GDP in Republic of Korea
Republic of Korea: Government revenues as a share of GDP was 34.0% in 2023. ▲ Rising
Government revenues as a share of GDP in Republic of Korea, 2000–2023
Source: International Monetary Fund – with minor processing by Our World in Data. Measured in %.
Analysis
In 2023, government revenues as a share of gdp in Republic of Korea stood at 34.0%.
Compared with earlier readings it is down 6.2% on the previous year and up 10.3% over ten years.
Over the whole period, government revenues as a share of gdp in Republic of Korea peaked at 36.2% in 2022 and was at its lowest, 18.6%, in 2004.
Republic of Korea ranks 64th of 174 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 24 years of available data.
Government revenues as a share of GDP in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 19.9% | — |
| 2001 | 19.4% | -2.9% |
| 2002 | 19.1% | -1.3% |
| 2003 | 19.4% | +1.4% |
| 2004 | 18.6% | -4.1% |
| 2005 | 18.9% | +1.9% |
| 2006 | 19.7% | +4.0% |
| 2007 | 26.3% | +33.5% |
| 2008 | 25.7% | -2.4% |
| 2009 | 24.6% | -4.4% |
| 2010 | 24.0% | -2.3% |
| 2011 | 24.6% | +2.6% |
| 2012 | 31.9% | +29.5% |
| 2013 | 30.8% | -3.3% |
| 2014 | 30.8% | -0.1% |
| 2015 | 30.7% | -0.4% |
| 2016 | 31.0% | +0.9% |
| 2017 | 31.6% | +1.8% |
| 2018 | 31.6% | +0.1% |
| 2019 | 32.1% | +1.7% |
| 2020 | 32.3% | +0.7% |
| 2021 | 34.5% | +6.5% |
| 2022 | 36.2% | +5.2% |
| 2023 | 34.0% | -6.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 21.2% | 18.6% | 26.3% | 10 |
| 2010s | 29.9% | 24.0% | 32.1% | 10 |
| 2020s | 34.3% | 32.3% | 36.2% | 4 |
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 government revenues as a share of gdp in Republic of Korea?
- Government revenues as a share of gdp in Republic of Korea was 34.0% in 2023, according to International Monetary Fund – with minor processing by Our World in Data.
- What is the highest government revenues as a share of gdp recorded in Republic of Korea?
- The highest recorded value was 36.2% in 2022.
- What is the lowest government revenues as a share of gdp recorded in Republic of Korea?
- The lowest recorded value was 18.6% in 2004.
- How does Republic of Korea rank for government revenues as a share of gdp?
- Republic of Korea ranks 64th out of 174 countries with data for 2023.
- Is government revenues as a share of gdp rising or falling in Republic of Korea?
- Over the last ten years it is up 10.3%. The long-run trend across the full record is rising.
- Where does this Republic of Korea data come from?
- The figures come from International Monetary Fund – with minor processing by Our World in Data, published as part of Government revenues as a share of GDP. Statizoid updates them automatically from the source API.
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About this data
Taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales included.