Total Expenditure (central government) — Value US$, 2015 prices in Republic of Korea
Republic of Korea: Total Expenditure (central government) — Value US$, 2015 prices was 449,528 million USD in 2023. ▲ Rising
Total Expenditure (central government) — Value US$, 2015 prices in Republic of Korea, 2001–2023
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
In 2023, total expenditure (central government) — value us$, 2015 prices in Republic of Korea stood at 449,528 million USD.
The figure is down 13.0% on the previous year and up 64.3% over ten years.
Over the whole period, total expenditure (central government) — value us$, 2015 prices in Republic of Korea peaked at 516,662 million USD in 2022 and was at its lowest, 151,841 million USD, in 2002.
That places Republic of Korea 8th out of 173 countries with data for 2023, putting it in the top 10%.
The long-run direction has been consistently rising across the 23 years of available data.
Total Expenditure (central government) — Value US$, 2015 prices in Republic of Korea, year by year
| Year | million USD | Change |
|---|---|---|
| 2001 | 188,721 million USD | — |
| 2002 | 151,841 million USD | -19.5% |
| 2003 | 175,669 million USD | +15.7% |
| 2004 | 182,363 million USD | +3.8% |
| 2005 | 196,624 million USD | +7.8% |
| 2006 | 215,165 million USD | +9.4% |
| 2007 | 213,422 million USD | -0.8% |
| 2008 | 236,071 million USD | +10.6% |
| 2009 | 260,215 million USD | +10.2% |
| 2010 | 240,199 million USD | -7.7% |
| 2011 | 255,588 million USD | +6.4% |
| 2012 | 269,509 million USD | +5.4% |
| 2013 | 273,530 million USD | +1.5% |
| 2014 | 282,024 million USD | +3.1% |
| 2015 | 297,310 million USD | +5.4% |
| 2016 | 304,560 million USD | +2.4% |
| 2017 | 320,023 million USD | +5.1% |
| 2018 | 341,559 million USD | +6.7% |
| 2019 | 384,153 million USD | +12.5% |
| 2020 | 429,482 million USD | +11.8% |
| 2021 | 458,051 million USD | +6.7% |
| 2022 | 516,662 million USD | +12.8% |
| 2023 | 449,528 million USD | -13.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 202,232 million USD | 151,841 million USD | 260,215 million USD | 9 |
| 2010s | 296,846 million USD | 240,199 million USD | 384,153 million USD | 10 |
| 2020s | 463,431 million USD | 429,482 million USD | 516,662 million USD | 4 |
Countries ranked near Republic of Korea
- 5 Brazil 653,651 million USD compare
- 5 United Republic of Tanzania 13,443 million USD compare
- 6 Democratic Republic of the Congo 5,591 million USD compare
- 6 France 620,138 million USD compare
- 7 Bolivia (Plurinational State of) 5,183 million USD compare
- 7 Germany 548,599 million USD compare
- 8 Syrian Arab Republic 3,202 million USD compare
- 9 India 421,000 million USD compare
- 9 Lao People's Democratic Republic 2,461 million USD compare
- 10 Australia 393,801 million USD compare
- 10 Republic of Moldova 2,306 million USD compare
- 11 Russian Federation 331,764 million USD compare
- 11 Timor-Leste 1,004 million USD 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$, 2015 prices 571,534 million USD (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency, 2015 646.38 million million SLC (2024)
Frequently asked questions
- What is total expenditure (central government) — value us$, 2015 prices in Republic of Korea?
- Total expenditure (central government) — value us$, 2015 prices in Republic of Korea was 449,528 million USD in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest total expenditure (central government) — value us$, 2015 prices recorded in Republic of Korea?
- The highest recorded value was 516,662 million USD in 2022.
- What is the lowest total expenditure (central government) — value us$, 2015 prices recorded in Republic of Korea?
- The lowest recorded value was 151,841 million USD in 2002.
- How does Republic of Korea rank for total expenditure (central government) — value us$, 2015 prices?
- Republic of Korea ranks 8th out of 173 countries with data for 2023.
- Is total expenditure (central government) — value us$, 2015 prices rising or falling in Republic of Korea?
- Over the last ten years it is up 64.3%. The long-run trend across the full record is rising.
- Where does this Republic of Korea data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Total Expenditure (central government) — Value US$, 2015 prices. 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.