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.
Government spending as share of GDP in South Korea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1953 | 14.5% | — |
| 1954 | 20.8% | +43.5% |
| 1955 | 21.5% | +3.2% |
| 1956 | 22.1% | +3.1% |
| 1957 | 18.2% | -17.8% |
| 1958 | 19.6% | +7.8% |
| 1959 | 18.4% | -6.1% |
| 1960 | 17.9% | -3.0% |
| 1961 | 21.2% | +18.6% |
| 1962 | 22.3% | +5.0% |
| 1963 | 15.4% | -30.6% |
| 1964 | 12.1% | -21.5% |
| 1965 | 13.1% | +7.7% |
| 1966 | 16.0% | +22.2% |
| 1967 | 16.7% | +4.8% |
| 1968 | 18.5% | +11.0% |
| 1969 | 19.8% | +7.0% |
| 1970 | 17.5% | -11.8% |
| 1971 | 18.5% | +5.6% |
| 1972 | 18.5% | -0.1% |
| 1973 | 14.2% | -22.9% |
| 1974 | 16.1% | +12.9% |
| 1975 | 18.8% | +17.4% |
| 1976 | 17.0% | -9.9% |
| 1977 | 17.7% | +4.2% |
| 1978 | 15.7% | -11.3% |
| 1979 | 16.3% | +3.9% |
| 1980 | 16.8% | +2.9% |
| 1981 | 16.3% | -2.8% |
| 1982 | 17.8% | +9.3% |
| 1983 | 16.0% | -10.0% |
| 1984 | 15.6% | -3.1% |
| 1985 | 15.5% | -0.2% |
| 1986 | 14.9% | -4.2% |
| 1987 | 14.3% | -3.6% |
| 1988 | 13.9% | -3.2% |
| 1989 | 15.0% | +8.1% |
| 1990 | 15.2% | +1.0% |
| 1991 | 15.4% | +1.5% |
| 1992 | 15.5% | +0.5% |
| 1993 | 15.1% | -2.5% |
| 1994 | 15.4% | +2.3% |
| 1995 | 13.5% | -12.3% |
| 1996 | 14.0% | +3.9% |
| 1997 | 13.9% | -1.2% |
| 1998 | 16.0% | +15.6% |
| 1999 | 16.1% | +0.7% |
| 2000 | 16.0% | -0.8% |
| 2001 | 16.9% | +5.7% |
| 2002 | 15.9% | -6.2% |
| 2003 | 17.9% | +12.5% |
| 2004 | 18.5% | +3.5% |
| 2005 | 18.2% | -1.9% |
| 2006 | 18.7% | +3.1% |
| 2007 | 18.8% | +0.5% |
| 2008 | 19.1% | +1.6% |
| 2009 | 19.5% | +2.3% |
| 2010 | 17.9% | -8.6% |
| 2011 | 18.3% | +2.4% |
| 2012 | 18.8% | +2.9% |
| 2013 | 19.0% | +1.0% |
| 2014 | 18.8% | -0.9% |
| 2015 | 18.8% | -0.2% |
| 2016 | 18.5% | -1.6% |
| 2017 | 18.6% | +0.7% |
| 2018 | 19.3% | +3.4% |
| 2019 | 21.3% | +10.3% |
| 2020 | 23.7% | +11.2% |
| 2021 | 24.1% | +1.8% |
| 2022 | 26.7% | +10.7% |
| 2023 | 23.1% | -13.5% |
| 2024 | 22.5% | -2.4% |
South Korea compared with similar countries
- South Korea's 22.5% is below the median for high income countries, which is 42.3%, 53% of the median. (56 countries reporting)
- South Korea's 22.5% is below the median for East Asia & Pacific, which is 30.8%, 73% of the median. (21 countries reporting)
Biggest year-on-year movements
Years where Government spending as share of GDP in South Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1954 | +43.5% | 14.5% | 20.8% |
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
- Foreign direct investment, net outflows (BoP, current US$), gaps 41.23 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.022 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 797.74 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 15.80 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 22.87 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0084 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 305.78 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 4.39 % change on previous year (2025)
- Total reserves (includes gold, current US$), per unit of GDP 0.2332 includes gold, current US$ per US$ of GDP (2025)
- Total reserves (includes gold, current US$), per capita 8,447 includes gold, current US$ per person (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
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.