South Korea: Savings, percent of GDP
* indicates monthly or quarterly data series
| South Korea |
Savings as percent of GDP |
|---|---|
| Latest value | 33.77 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1976 - 2023 |
| Average | 34.27 |
| Min - Max | 24.52 - 41.42 |
| Source | The World Bank |
The latest value from 2023 is 33.77 percent, a decline from 34.45 percent in 2022. In comparison, the world average is 23.44 percent, based on data from 96 countries. Historically, the average for South Korea from 1976 to 2023 is 34.27 percent. The minimum value, 24.52 percent, was reached in 1981 while the maximum of 41.42 percent was recorded in 1988.
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* indicates monthly or quarterly data series
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The savings in South Korea and other countries is calculated as the difference between income and consumption, expressed as percent of GDP.
Definition: Gross savings are calculated as gross national income less total consumption, plus net transfers.
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What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Share of industry | 31.59 | 2023 | percent |
| Share of manufacturing | 24.31 | 2023 | percent |
| Share of services | 58.42 | 2023 | percent |
| Industry value added | 541.14 | 2023 | billion U.S. dollars |
| Manufacturing value added | 416.39 | 2023 | billion U.S. dollars |
| Services value added | 1,000.65 | 2023 | billion U.S. dollars |
| Savings, percent of GDP | 33.77 | 2023 | percent |
| Savings, in dollars | 578.43 | 2023 | billion U.S. dollars |