South Korea: Government spending, percent of GDP
* indicates monthly or quarterly data series
| South Korea |
Government spending as percent of GDP |
|---|---|
| Latest value | 18.16 |
| Reference | 2021 |
| Measure | percent |
| Source | The World Bank |
For that indicator, we provide data for South Korea from 1960 to 2021. The average value for South Korea during that period was 11.96 percent with a minimum of 8.21 percent in 1964 and a maximum of 18.16 percent in 2021.
The latest value from 2021 is 18.16 percent. For comparison, the world average in 2021 based on 154
countries is 16.83 percent.
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* indicates monthly or quarterly data series
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The government size of South Korea and other countries is calculated as the total government spending as percent of GDP.
Definition: General government final consumption expenditure (formerly general government consumption) includes all government current expenditures for purchases of goods and services (including compensation of employees). It also includes most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation.