Total Expenditure (central government) — Value US$ in Republic of Korea
Republic of Korea: Total Expenditure (central government) — Value US$ was 440,599 million USD in 2023. ▲ Rising
Total Expenditure (central government) — Value US$ 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$ in Republic of Korea stood at 440,599 million USD.
That represents a change of down 12.3% on the previous year and up 62.7% over ten years.
Over the whole period, total expenditure (central government) — value us$ in Republic of Korea peaked at 502,427 million USD in 2022 and was at its lowest, 104,711 million USD, in 2002.
That places Republic of Korea 9th 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$ in Republic of Korea, year by year
| Year | million USD | Change |
|---|---|---|
| 2001 | 122,506 million USD | — |
| 2002 | 104,711 million USD | -14.5% |
| 2003 | 131,774 million USD | +25.8% |
| 2004 | 146,851 million USD | +11.4% |
| 2005 | 179,196 million USD | +22.0% |
| 2006 | 209,911 million USD | +17.1% |
| 2007 | 219,403 million USD | +4.5% |
| 2008 | 211,045 million USD | -3.8% |
| 2009 | 207,386 million USD | -1.7% |
| 2010 | 217,177 million USD | +4.7% |
| 2011 | 244,222 million USD | +12.5% |
| 2012 | 256,552 million USD | +5.0% |
| 2013 | 270,833 million USD | +5.6% |
| 2014 | 293,473 million USD | +8.4% |
| 2015 | 297,310 million USD | +1.3% |
| 2016 | 302,857 million USD | +1.9% |
| 2017 | 333,203 million USD | +10.0% |
| 2018 | 367,665 million USD | +10.3% |
| 2019 | 387,944 million USD | +5.5% |
| 2020 | 435,040 million USD | +12.1% |
| 2021 | 493,933 million USD | +13.5% |
| 2022 | 502,427 million USD | +1.7% |
| 2023 | 440,599 million USD | -12.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 170,309 million USD | 104,711 million USD | 219,403 million USD | 9 |
| 2010s | 297,124 million USD | 217,177 million USD | 387,944 million USD | 10 |
| 2020s | 468,000 million USD | 435,040 million USD | 502,427 million USD | 4 |
Countries ranked near Republic of Korea
- 6 Brazil 702,565 million USD compare
- 6 Democratic Republic of the Congo 6,565 million USD compare
- 7 Germany 694,012 million USD compare
- 7 Syrian Arab Republic 5,318 million USD compare
- 8 Australia 477,200 million USD compare
- 8 Republic of Moldova 4,529 million USD compare
- 9 Bolivia (Plurinational State of) 3,074 million USD compare
- 10 India 440,349 million USD compare
- 10 Lao People's Democratic Republic 2,494 million USD compare
- 11 Russian Federation 431,018 million USD compare
- 11 Timor-Leste 991.77 million USD compare
- 12 Mexico 420,014 million USD compare
- 12 Micronesia (Federated States of) 87.36 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$, 2015 prices 571,534 million USD (2024)
- Gross Fixed Capital Formation — Value Standard Local Currency, 2015 646.38 million million SLC (2024)
Frequently asked questions
- What is total expenditure (central government) — value us$ in Republic of Korea?
- Total expenditure (central government) — value us$ in Republic of Korea was 440,599 million USD in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest total expenditure (central government) — value us$ recorded in Republic of Korea?
- The highest recorded value was 502,427 million USD in 2022.
- What is the lowest total expenditure (central government) — value us$ recorded in Republic of Korea?
- The lowest recorded value was 104,711 million USD in 2002.
- How does Republic of Korea rank for total expenditure (central government) — value us$?
- Republic of Korea ranks 9th out of 173 countries with data for 2023.
- Is total expenditure (central government) — value us$ rising or falling in Republic of Korea?
- Over the last ten years it is up 62.7%. 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$. 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.