Government spending as share of GDP in South Korea
South Korea: Government spending as share of GDP was 22.5% in 2024. ▲ Rising
Government spending as share of GDP in South Korea, 1953–2024
Source: International Monetary Fund (2025) – with minor processing by Our World in Data. Measured in % of GDP.
Analysis
The most recent figure for government spending as share of gdp in South Korea is 22.5%, measured in 2024.
The figure is down 2.4% on the previous year and up 19.6% over ten years.
Over the whole period, government spending as share of gdp in South Korea peaked at 26.7% in 2022 and was at its lowest, 12.1%, in 1964.
South Korea ranks 108th of 151 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 72 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 19.3% | 14.5% | 22.1% | 7 |
| 1960s | 17.3% | 12.1% | 22.3% | 10 |
| 1970s | 17.0% | 14.2% | 18.8% | 10 |
| 1980s | 15.6% | 13.9% | 17.8% | 10 |
| 1990s | 15.0% | 13.5% | 16.1% | 10 |
| 2000s | 18.0% | 15.9% | 19.5% | 10 |
| 2010s | 18.9% | 17.9% | 21.3% | 10 |
| 2020s | 24.0% | 22.5% | 26.7% | 5 |
Countries ranked near South Korea
More economy & growth data for South Korea
- External balance on goods and services as a percent of GDP 5.2% (2025)
- Inflation of consumer prices 2.1% (2025)
- GDP per capita 37,470 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 27.4% (2025)
- Gross domestic product (GDP) 1.94 trillion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 37,470 constant 2015 US$ (2025)
- DEC alternative conversion factor 1,422 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -6.93 trillion current LCU (2025)
- Net secondary income (Net current transfers from abroad) -4.87 billion current US$ (2025)
- Taxes less subsidies on products 185.85 trillion current LCU (2025)
Frequently asked questions
- What is government spending as share of gdp in South Korea?
- Government spending as share of gdp in South Korea was 22.5% in 2024, according to International Monetary Fund (2025) – with minor processing by Our World in Data.
- What is the highest government spending as share of gdp recorded in South Korea?
- The highest recorded value was 26.7% in 2022.
- What is the lowest government spending as share of gdp recorded in South Korea?
- The lowest recorded value was 12.1% in 1964.
- How does South Korea rank for government spending as share of gdp?
- South Korea ranks 108th out of 151 countries with data for 2024.
- Is government spending as share of gdp rising or falling in South Korea?
- Over the last ten years it is up 19.6%. The long-run trend across the full record is rising.
- Where does this South Korea data come from?
- The figures come from International Monetary Fund (2025) – with minor processing by Our World in Data, published as part of Government spending as share of GDP. Statizoid updates them automatically from the source API.
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About this data
The sum of all the money spent by the government on goods and services, as a percentage of GDP. It includes interest paid on government debt.