South Korea Government Spending to GDP
General government expenditure as a percentage of GDP.
Government Spending to GDP in South Korea decreased to 22.53 percent of GDP in 2024 from 23.08 percent of GDP in 2023.
South Korea Government Spending to GDP — History
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South Korea Government Spending to GDP — analysis in simple words
Latest reading
Government Spending to GDP in South Korea decreased to 22.53 percent of GDP in 2024 from 23.08 percent of GDP in 2023.
Over the last three years it rose once and fell twice.
Recent trend
A year earlier (2023) it was 23.1%, so the latest figure is 0.5 percentage points lower.
Over the past five years the average was 24.0%, with a range from 22.5% to 26.7%. The latest value is below that five-year average.
Historical context
This data series starts in 1953 and has 72 annual observations. The latest reading is higher than 93% of all of them.
The highest value on record is 26.7% (2022) and the lowest is 12.1% (1964). The long-run average is 17.7%.
Compared with other countries
Among 151 economies with recent data, South Korea ranks 108th from the top. The median across all these economies is 30.3%, so South Korea is below the typical country.
Among 18 major economies tracked on this site it ranks 17th.
Within East Asia & Pacific (21 economies with data) it ranks 16th; the regional median is 30.8%.
Statistics
- Latest
- 22.5%2024
- Previous
- 23.1%
- 5-year average
- 24.0%
- Long-run average
- 17.7%since 1953
- All-time high
- 26.7%2022
- All-time low
- 12.1%1964
- Observations
- 72Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2024 | 22.5% | ▼ −0.5 pp |
| 2023 | 23.1% | ▼ −3.6 pp |
| 2022 | 26.7% | ▲ +2.6 pp |
| 2021 | 24.1% | ▲ +0.4 pp |
| 2020 | 23.7% | ▲ +2.4 pp |
| 2019 | 21.3% | ▲ +2.0 pp |
| 2018 | 19.3% | ▲ +0.6 pp |
| 2017 | 18.6% | ▲ +0.1 pp |
| 2016 | 18.5% | ▼ −0.3 pp |
| 2015 | 18.8% | ▼ −0.0 pp |
| 2014 | 18.8% | ▼ −0.2 pp |
| 2013 | 19.0% | ▲ +0.2 pp |
| 2012 | 18.8% | ▲ +0.5 pp |
| 2011 | 18.3% | ▲ +0.4 pp |
| 2010 | 17.9% | ▼ −1.7 pp |
| 2009 | 19.5% | ▲ +0.4 pp |
| 2008 | 19.1% | ▲ +0.3 pp |
| 2007 | 18.8% | ▲ +0.1 pp |
| 2006 | 18.7% | ▲ +0.6 pp |
| 2005 | 18.2% | ▼ −0.3 pp |
| 2004 | 18.5% | ▲ +0.6 pp |
| 2003 | 17.9% | ▲ +2.0 pp |
| 2002 | 15.9% | ▼ −1.1 pp |
| 2001 | 16.9% | ▲ +0.9 pp |
| 2000 | 16.0% | ▼ −0.1 pp |
| 1999 | 16.1% | ▲ +0.1 pp |
| 1998 | 16.0% | ▲ +2.2 pp |
| 1997 | 13.9% | ▼ −0.2 pp |
| 1996 | 14.0% | ▲ +0.5 pp |
| 1995 | 13.5% |
Government Spending to GDP — South Korea vs Peers
Latest available reading for each economy (periods may differ). South Korea highlighted.
More South Korea indicators
Understanding Government Spending to GDP — a simple guide
What it measures
General government expenditure as a percentage of GDP.
How it is calculated
Total government expenditure ÷ GDP × 100.
28% means government spending equals 28% of GDP.
A large public sector role in the economy.
A smaller public sector role.
Why it matters for the economy and markets
The ratio shows the size of the public sector in the economy.
How to read it
Read with revenue: the gap between the two is the fiscal balance.
Data source
IMF — Public Finances in Modern History (series exp), annual data from 1953 to 2024. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current government spending to gdp of South Korea?
What is the highest and lowest government spending to gdp of South Korea?
What does government spending to gdp measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.