Total Expenditure (central government) — Value Standard Local Currency in Republic of Korea
Republic of Korea: Total Expenditure (central government) — Value Standard Local Currency was 575.27 million million SLC in 2023. ▲ Rising
Total Expenditure (central government) — Value Standard Local Currency in Republic of Korea, 2001–2023
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
The most recent figure for total expenditure (central government) — value standard local currency in Republic of Korea is 575.27 million million SLC, measured in 2023.
That represents a change of down 11.3% on the previous year and up 94.0% over ten years.
Over the whole period, total expenditure (central government) — value standard local currency in Republic of Korea peaked at 648.86 million million SLC in 2022 and was at its lowest, 131.06 million million SLC, in 2002.
Republic of Korea ranks 2nd of 174 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 23 years of available data.
Total Expenditure (central government) — Value Standard Local Currency in Republic of Korea, year by year
| Year | million SLC | Change |
|---|---|---|
| 2001 | 158.13 million million SLC | — |
| 2002 | 131.06 million million SLC | -17.1% |
| 2003 | 157.03 million million SLC | +19.8% |
| 2004 | 168.33 million million SLC | +7.2% |
| 2005 | 183.56 million million SLC | +9.0% |
| 2006 | 200.54 million million SLC | +9.3% |
| 2007 | 203.91 million million SLC | +1.7% |
| 2008 | 232.18 million million SLC | +13.9% |
| 2009 | 264.88 million million SLC | +14.1% |
| 2010 | 251.16 million million SLC | -5.2% |
| 2011 | 270.65 million million SLC | +7.8% |
| 2012 | 289.08 million million SLC | +6.8% |
| 2013 | 296.56 million million SLC | +2.6% |
| 2014 | 308.98 million million SLC | +4.2% |
| 2015 | 336.24 million million SLC | +8.8% |
| 2016 | 351.55 million million SLC | +4.6% |
| 2017 | 376.85 million million SLC | +7.2% |
| 2018 | 404.49 million million SLC | +7.3% |
| 2019 | 452.09 million million SLC | +11.8% |
| 2020 | 513.46 million million SLC | +13.6% |
| 2021 | 565.03 million million SLC | +10.0% |
| 2022 | 648.86 million million SLC | +14.8% |
| 2023 | 575.27 million million SLC | -11.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 188.84 million million SLC | 131.06 million million SLC | 264.88 million million SLC | 9 |
| 2010s | 333.77 million million SLC | 251.16 million million SLC | 452.09 million million SLC | 10 |
| 2020s | 575.66 million million SLC | 513.46 million million SLC | 648.86 million million SLC | 4 |
Countries ranked near Republic of Korea
- 1 Côte d'Ivoire 13.76 million million SLC compare
- 1 Indonesia 3.36 billion million SLC compare
- 1 Iran (Islamic Republic of) 7.82 billion million SLC compare
- 2 Viet Nam 681.84 million million SLC compare
- 3 Cabo Verde 66,770 million SLC compare
- 3 United Republic of Tanzania 35.29 million million SLC compare
- 3 Uzbekistan 293.93 million million SLC compare
- 4 Colombia 285.85 million million SLC compare
- 4 Lao People's Democratic Republic 21.65 million million SLC compare
- 5 Democratic Republic of the Congo 18.24 million million SLC compare
- 5 Lebanon 181.92 million million SLC compare
More economy & growth data for Republic of Korea
- Gross Fixed Capital Formation — Annual growth US$, 2015 prices 4 % (2024)
- Gross Fixed Capital Formation — Annual growth US$ 1.5 % (2024)
- Gross Fixed Capital Formation — Annual growth Standard Local 4 % (2024)
- Gross Fixed Capital Formation — Annual growth Standard Local Currency 6.06 % (2024)
- Gross Fixed Capital Formation — Share of GDP Standard Local Currency 29.86 % (2024)
- Gross Fixed Capital Formation — Share of GDP Standard Local Currency 32.07 % (2024)
- Gross Fixed Capital Formation — Share of GDP US$, 2015 prices 29.86 % (2024)
- Gross Fixed Capital Formation — Share of GDP US$ 32.07 % (2024)
- Gross Fixed Capital Formation — Value US$, 2015 prices 571,534 million USD (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency, 2015 646.38 million million SLC (2024)
Frequently asked questions
- What is total expenditure (central government) — value standard local currency in Republic of Korea?
- Total expenditure (central government) — value standard local currency in Republic of Korea was 575.27 million million SLC in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest total expenditure (central government) — value standard local currency recorded in Republic of Korea?
- The highest recorded value was 648.86 million million SLC in 2022.
- What is the lowest total expenditure (central government) — value standard local currency recorded in Republic of Korea?
- The lowest recorded value was 131.06 million million SLC in 2002.
- How does Republic of Korea rank for total expenditure (central government) — value standard local currency?
- Republic of Korea ranks 2nd out of 174 countries with data for 2023.
- Is total expenditure (central government) — value standard local currency rising or falling in Republic of Korea?
- Over the last ten years it is up 94.0%. The long-run trend across the full record is rising.
- Where does this Republic of Korea data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Total Expenditure (central government) — Value Standard Local Currency. Statizoid updates them automatically from the source API.
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About this data
The Statistics Division of FAO collects annually data on Government Expenditure on Agriculture through a questionnaire, which was developed in partnership with the International Monetary Fund (IMF). The IMF is the responsible institution for the Government Finance Statistics (GFS) methodology and annually collects GFS data, including Expenditure by Functions of Government (COFOG). The Classification of the Functions of Government (COFOG) is an international classification developed by Organisation for Economic Co-operation and Development (OECD) and published by the United Nations Statistical Division (UNSD), with the aim of categorise governments' functions according to their purposes. The FAO questionnaire aligns with Table 7 of the IMF GFS questionnaire, replicates the relevant aggregates and drills down to request additional detail related to Agriculture. The FAO dataset consists of a time series, from 2001 onwards, of Total Government Expenditure and expenditure in: Agriculture, Forestry, Fishing and Hunting, along with its three disaggregated subsectors of Agriculture, Forestry and Fishing; and Environmental Protection. In addition, expenditure in each detailed function are further disaggregated into Recurrent and Capital expenditure. Additional indicators include the Agriculture Share of Government Expenditure, and the Agriculture Orientation Index (ratio between the Agriculture Share of Government Expenditure and the Agriculture Value Added as Share of GDP). Data are reported for the highest level of government available (Consolidated general government, consolidated central government or budgetary central government) and are available for about 100 countries on a regular basis.