Share of central government spending funded by taxes in Republic of Korea
Republic of Korea: Share of central government spending funded by taxes was 55.2% in 2023. ▼ Falling
Share of central government spending funded by taxes in Republic of Korea, 2000–2023
Source: International Monetary Fund – with minor processing by Our World in Data. Measured in %.
Analysis
In 2023, share of central government spending funded by taxes in Republic of Korea stood at 55.2%.
That represents a change of down 10.7% on the previous year and down 1.7% over ten years.
Over the whole period, share of central government spending funded by taxes in Republic of Korea peaked at 96.4% in 2007 and was at its lowest, 54.7%, in 2020.
That places Republic of Korea 97th out of 174 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently falling across the 24 years of available data.
Share of central government spending funded by taxes in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 85.8% | — |
| 2001 | 77.2% | -10.1% |
| 2002 | 80.5% | +4.3% |
| 2003 | 73.9% | -8.2% |
| 2004 | 67.5% | -8.6% |
| 2005 | 70.5% | +4.5% |
| 2006 | 70.5% | -0.0% |
| 2007 | 96.4% | +36.7% |
| 2008 | 75.5% | -21.7% |
| 2009 | 64.0% | -15.2% |
| 2010 | 72.3% | +13.0% |
| 2011 | 73.9% | +2.1% |
| 2012 | 55.8% | -24.4% |
| 2013 | 56.2% | +0.6% |
| 2014 | 55.9% | -0.5% |
| 2015 | 56.5% | +1.2% |
| 2016 | 61.1% | +8.0% |
| 2017 | 61.9% | +1.3% |
| 2018 | 66.3% | +7.1% |
| 2019 | 60.2% | -9.1% |
| 2020 | 54.7% | -9.2% |
| 2021 | 60.0% | +9.8% |
| 2022 | 61.8% | +3.0% |
| 2023 | 55.2% | -10.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 76.2% | 64.0% | 96.4% | 10 |
| 2010s | 62.0% | 55.8% | 73.9% | 10 |
| 2020s | 57.9% | 54.7% | 61.8% | 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 share of central government spending funded by taxes in Republic of Korea?
- Share of central government spending funded by taxes in Republic of Korea was 55.2% in 2023, according to International Monetary Fund – with minor processing by Our World in Data.
- What is the highest share of central government spending funded by taxes recorded in Republic of Korea?
- The highest recorded value was 96.4% in 2007.
- What is the lowest share of central government spending funded by taxes recorded in Republic of Korea?
- The lowest recorded value was 54.7% in 2020.
- How does Republic of Korea rank for share of central government spending funded by taxes?
- Republic of Korea ranks 97th out of 174 countries with data for 2023.
- Is share of central government spending funded by taxes rising or falling in Republic of Korea?
- Over the last ten years it is down 1.7%. The long-run trend across the full record is falling.
- 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 Share of central government spending funded by taxes. Statizoid updates them automatically from the source API.
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CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Spending refers to the budgetary central government which includes the core institutions of the national government. Funds only include taxes; Fines, penalties, and most social security contributions are excluded.