Expense in South Korea
South Korea: Expense was 28.3% in 2023. ▲ Rising
Expense in South Korea, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for expense in South Korea is 28.3%, measured in 2023.
Compared with earlier readings it is down 9.5% on the previous year and up 23.4% over ten years.
Over the whole period, expense in South Korea peaked at 31.3% in 2022 and was at its lowest, 11.2%, in 1973.
South Korea ranks 66th of 157 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 52 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 13.5% | 11.2% | 15.3% | 8 |
| 1980s | 13.6% | 11.9% | 15.6% | 10 |
| 1990s | 13.1% | 12.6% | 14.7% | 10 |
| 2000s | 16.7% | 14.8% | 18.5% | 10 |
| 2010s | 22.0% | 16.9% | 25.9% | 10 |
| 2020s | 29.0% | 28.0% | 31.3% | 4 |
Countries ranked near South Korea
More economy & growth data for South Korea
- DEC alternative conversion factor 1,422 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -6.93 trillion current LCU (2025)
- Net secondary income (Net current transfers from abroad) -4.87 billion current US$ (2025)
- Taxes less subsidies on products 185.85 trillion current LCU (2025)
- Taxes less subsidies on products 130.66 billion current US$ (2025)
- Net primary income (Net income from abroad) 45.76 trillion current LCU (2025)
- Net primary income (Net income from abroad) 32.17 billion current US$ (2025)
- GNI per capita 52.42 million current LCU (2025)
- GNI per capita, Atlas method 37,880 current US$ (2025)
- GNI 2,709.10 trillion current LCU (2025)
Frequently asked questions
- What is expense in South Korea?
- Expense in South Korea was 28.3% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest expense recorded in South Korea?
- The highest recorded value was 31.3% in 2022.
- What is the lowest expense recorded in South Korea?
- The lowest recorded value was 11.2% in 1973.
- How does South Korea rank for expense?
- South Korea ranks 66th out of 157 countries with data for 2023.
- Is expense rising or falling in South Korea?
- Over the last ten years it is up 23.4%. The long-run trend across the full record is rising.
- Where does this South Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Expense (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 52 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Expense is a decrease in net worth resulting from a transaction. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.