Gross public sector debt as a share of gross domestic product in South Korea
South Korea: Gross public sector debt as a share of gross domestic product was 45.5% in 2023. ▲ Rising
Gross public sector debt as a share of gross domestic product in South Korea, 2011–2023
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
South Korea recorded 45.5% for gross public sector debt as a share of gross domestic product in 2023. That is the highest value across all 13 years on record.
That represents a change of up 2.0% on the previous year and up 48.7% over ten years.
Over the whole period, gross public sector debt as a share of gross domestic product in South Korea peaked at 45.5% in 2023 and was at its lowest, 26.2%, in 2011.
That places South Korea 33rd out of 49 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently rising across the 13 years of available data.
Gross public sector debt as a share of gross domestic product in South Korea, year by year
| Year | % | Change |
|---|---|---|
| 2011 | 26.2% | — |
| 2012 | 28.1% | +7.2% |
| 2013 | 30.6% | +8.9% |
| 2014 | 32.0% | +4.6% |
| 2015 | 33.0% | +3.2% |
| 2016 | 33.4% | +1.1% |
| 2017 | 32.8% | -1.6% |
| 2018 | 32.8% | +0.1% |
| 2019 | 34.9% | +6.4% |
| 2020 | 40.6% | +16.4% |
| 2021 | 42.7% | +5.0% |
| 2022 | 44.5% | +4.4% |
| 2023 | 45.5% | +2.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 31.5% | 26.2% | 34.9% | 9 |
| 2020s | 43.3% | 40.6% | 45.5% | 4 |
Countries ranked near South Korea
More economy & growth data for South Korea
- 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)
- Industry (including construction), value added (current LCU), annual 5.48 % change on previous year (2025)
- Industry (including construction), value added (current LCU), per 488.33 current LCU per US$ of GDP (2025)
- Industry (including construction), value added (current LCU), per 17.69 million current LCU per person (2025)
- Industry (including construction), value added (constant 2015 US$) 0.1897 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.3525 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 12,771 constant 2015 US$ per person (2025)
Frequently asked questions
- What is gross public sector debt as a share of gross domestic product in South Korea?
- Gross public sector debt as a share of gross domestic product in South Korea was 45.5% in 2023, according to World Bank – processed by Our World in Data.
- What is the highest gross public sector debt as a share of gross domestic product recorded in South Korea?
- The highest recorded value was 45.5% in 2023.
- What is the lowest gross public sector debt as a share of gross domestic product recorded in South Korea?
- The lowest recorded value was 26.2% in 2011.
- How does South Korea rank for gross public sector debt as a share of gross domestic product?
- South Korea ranks 33rd out of 49 countries with data for 2023.
- Is gross public sector debt as a share of gross domestic product rising or falling in South Korea?
- Over the last ten years it is up 48.7%. The long-run trend across the full record is rising.
- Where does this South Korea data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Gross public sector debt as a share of gross domestic product. Statizoid updates them automatically from the source API.
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About this data
Gross public sector debt, Central Government, as a proportion of GDP (%).