The ratio of government expenditure to GDP in South Korea was forecast to increase between 2024 and 2029 by in total 0.1 percentage points. This overall increase does not happen continuously, notably not in 2026 and 2028. The ratio is estimated to amount to 22.7 percent in 2029. Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.
Find more key insights for the ratio of government expenditure to GDP in countries like Mongolia, China, and Taiwan.
South Korea: Ratio of government expenditure to gross domestic product (GDP) from 2019 to 2029
Characteristic
Ratio of government expenditure to GDP
2029*
22.7%
2028*
22.66%
2027*
22.67%
2026*
22.66%
2025*
22.7%
2024*
22.64%
2023
23.16%
2022
26.68%
2021
24.1%
2020
23.66%
2019
21.27%
Created with Highcharts 7.2.2Ratio of government expenditure to GDP21.27%21.27%23.66%23.66%24.1%24.1%26.68%26.68%23.16%23.16%22.64%22.64%22.7%22.7%22.66%22.66%22.67%22.67%22.66%22.66%22.7%22.7%201920202021202220232024*2025*2026*2027*2028*2029*
0%5%10%15%20%25%30%
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IMF. (October 22, 2024). South Korea: Ratio of government expenditure to gross domestic product (GDP) from 2019 to 2029 [Graph]. In Statista. Retrieved February 16, 2025, from https://www.statista.com/statistics/939351/ratio-of-government-expenditure-to-gross-domestic-product-gdp-in-south-korea/
IMF. "South Korea: Ratio of government expenditure to gross domestic product (GDP) from 2019 to 2029." Chart. October 22, 2024. Statista. Accessed February 16, 2025. https://www.statista.com/statistics/939351/ratio-of-government-expenditure-to-gross-domestic-product-gdp-in-south-korea/
IMF. (2024). South Korea: Ratio of government expenditure to gross domestic product (GDP) from 2019 to 2029. Statista. Statista Inc.. Accessed: February 16, 2025. https://www.statista.com/statistics/939351/ratio-of-government-expenditure-to-gross-domestic-product-gdp-in-south-korea/
IMF. "South Korea: Ratio of Government Expenditure to Gross Domestic Product (Gdp) from 2019 to 2029." Statista, Statista Inc., 22 Oct 2024, https://www.statista.com/statistics/939351/ratio-of-government-expenditure-to-gross-domestic-product-gdp-in-south-korea/
IMF, South Korea: Ratio of government expenditure to gross domestic product (GDP) from 2019 to 2029 Statista, https://www.statista.com/statistics/939351/ratio-of-government-expenditure-to-gross-domestic-product-gdp-in-south-korea/ (last visited February 16, 2025)
South Korea: Ratio of government expenditure to gross domestic product (GDP) from 2019 to 2029 [Graph], IMF, October 22, 2024. [Online]. Available: https://www.statista.com/statistics/939351/ratio-of-government-expenditure-to-gross-domestic-product-gdp-in-south-korea/
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