Revenue, excluding grants in Republic of Korea
Republic of Korea: Revenue, excluding grants was 25.8% in 2024. ▲ Rising
Revenue, excluding grants in Republic of Korea, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for revenue, excluding grants in Republic of Korea is 25.8%, measured in 2024.
Compared with earlier readings it is down 5.8% on the previous year and up 8.1% over ten years.
Over the whole period, revenue, excluding grants in Republic of Korea peaked at 29.8% in 2022 and was at its lowest, 11.8%, in 1973.
That places Republic of Korea 75th out of 157 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 53 years of available data.
Revenue, excluding grants in Republic of Korea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 12.7% | — |
| 1973 | 11.8% | -7.7% |
| 1974 | 12.6% | +7.2% |
| 1975 | 14.4% | +13.8% |
| 1976 | 15.7% | +9.6% |
| 1977 | 15.5% | -1.2% |
| 1978 | 16.0% | +2.8% |
| 1979 | 16.3% | +2.1% |
| 1980 | 16.7% | +2.2% |
| 1981 | 16.9% | +1.2% |
| 1982 | 16.9% | +0.2% |
| 1983 | 16.4% | -2.8% |
| 1984 | 15.6% | -5.2% |
| 1985 | 15.2% | -2.2% |
| 1986 | 14.9% | -2.3% |
| 1987 | 14.8% | -0.6% |
| 1988 | 15.0% | +1.5% |
| 1989 | 14.9% | -0.5% |
| 1990 | 15.2% | +1.5% |
| 1991 | 14.4% | -5.1% |
| 1992 | 15.0% | +4.1% |
| 1993 | 15.3% | +2.2% |
| 1994 | 15.5% | +1.4% |
| 1995 | 15.7% | +1.0% |
| 1996 | 16.3% | +4.3% |
| 1997 | 16.2% | -0.9% |
| 1998 | 17.1% | +5.8% |
| 1999 | 17.3% | +1.0% |
| 2000 | 19.9% | +15.2% |
| 2001 | 19.4% | -2.8% |
| 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 | 20.8% | +5.5% |
| 2008 | 20.5% | -1.5% |
| 2009 | 19.6% | -4.6% |
| 2010 | 19.3% | -1.5% |
| 2011 | 19.8% | +3.0% |
| 2012 | 25.5% | +28.6% |
| 2013 | 24.9% | -2.2% |
| 2014 | 23.8% | -4.5% |
| 2015 | 23.6% | -0.8% |
| 2016 | 24.5% | +3.5% |
| 2017 | 24.9% | +1.6% |
| 2018 | 26.0% | +4.5% |
| 2019 | 26.3% | +1.3% |
| 2020 | 26.3% | +0.0% |
| 2021 | 28.0% | +6.5% |
| 2022 | 29.8% | +6.2% |
| 2023 | 27.4% | -8.1% |
| 2024 | 25.8% | -5.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 14.4% | 11.8% | 16.3% | 8 |
| 1980s | 15.7% | 14.8% | 16.9% | 10 |
| 1990s | 15.8% | 14.4% | 17.3% | 10 |
| 2000s | 19.6% | 18.6% | 20.8% | 10 |
| 2010s | 23.9% | 19.3% | 26.3% | 10 |
| 2020s | 27.4% | 25.8% | 29.8% | 5 |
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 revenue, excluding grants in Republic of Korea?
- Revenue, excluding grants in Republic of Korea was 25.8% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest revenue, excluding grants recorded in Republic of Korea?
- The highest recorded value was 29.8% in 2022.
- What is the lowest revenue, excluding grants recorded in Republic of Korea?
- The lowest recorded value was 11.8% in 1973.
- How does Republic of Korea rank for revenue, excluding grants?
- Republic of Korea ranks 75th out of 157 countries with data for 2024.
- Is revenue, excluding grants rising or falling in Republic of Korea?
- Over the last ten years it is up 8.1%. The long-run trend across the full record is rising.
- Where does this Republic of Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Revenue, excluding grants (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Revenue is an increase in net worth resulting from a transaction. Grants are excluded from this figure. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.