In 2023, pharmaceutical spending in South Korea was estimated to amount to around 1.6 percent of the total Gross Domestic Product (GDP). This represents a slight decrease from the previous year. Pharmaceutical spending in relation to GDP has been above one percent since the year 2001, and has continued to slowly but steadily increase.
Pharmaceutical expenditure as a share of the GDP of South Korea from 1970 to 2023
Characteristic
Share of GDP
2023*
1.6%
2022
1.7%
2021
1.6%
2020
1.6%
2019
1.6%
2018
1.5%
2017
1.4%
2016
1.4%
2015
1.4%
2014
1.4%
2013
1.4%
2012
1.4%
2011
1.4%
2010
1.5%
2009
1.5%
2008
1.4%
2007
1.4%
2006
1.4%
2005
1.3%
2004
1.2%
2003
1.2%
2002
1.1%
2001
1.1%
2000
0.9%
1999
0.9%
1998
0.8%
1997
0.8%
1996
0.8%
1995
0.8%
1994
0.7%
1993
0.7%
1992
0.7%
1991
0.7%
1990
0.8%
1989
0.8%
1988
0.7%
1987
0.7%
1986
0.7%
1985
0.7%
1984
0.7%
1983
0.7%
1982
0.8%
1981
0.8%
1980
0.7%
1979
0.7%
1978
0.5%
1977
0.5%
1976
0.5%
1975
0.5%
1974
0.3%
1973
0.4%
1972
0.4%
1971
0.4%
1970
0.5%
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According to the source, pharmaceutical spending covers expenditure on prescription medicines and self-medication (over-the-counter products) and excludes pharmaceuticals consumed in hospitals and other health care settings.Â
The source did not provide a date of publication. The date used here is the date of last update.
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OECD. (October 30, 2024). Pharmaceutical expenditure as a share of the GDP of South Korea from 1970 to 2023 [Graph]. In Statista. Retrieved December 18, 2024, from https://www.statista.com/statistics/976474/south-korea-pharmaceutical-spending-gdp-share/
OECD. "Pharmaceutical expenditure as a share of the GDP of South Korea from 1970 to 2023." Chart. October 30, 2024. Statista. Accessed December 18, 2024. https://www.statista.com/statistics/976474/south-korea-pharmaceutical-spending-gdp-share/
OECD. (2024). Pharmaceutical expenditure as a share of the GDP of South Korea from 1970 to 2023. Statista. Statista Inc.. Accessed: December 18, 2024. https://www.statista.com/statistics/976474/south-korea-pharmaceutical-spending-gdp-share/
OECD. "Pharmaceutical Expenditure as a Share of The Gdp of South Korea from 1970 to 2023." Statista, Statista Inc., 30 Oct 2024, https://www.statista.com/statistics/976474/south-korea-pharmaceutical-spending-gdp-share/
OECD, Pharmaceutical expenditure as a share of the GDP of South Korea from 1970 to 2023 Statista, https://www.statista.com/statistics/976474/south-korea-pharmaceutical-spending-gdp-share/ (last visited December 18, 2024)
Pharmaceutical expenditure as a share of the GDP of South Korea from 1970 to 2023 [Graph], OECD, October 30, 2024. [Online]. Available: https://www.statista.com/statistics/976474/south-korea-pharmaceutical-spending-gdp-share/
