South Korea: Household consumption, percent of GDP

For that indicator, we provide data for South Korea from 1960 to 2022. The average value for South Korea during that period was 59.11 percent with a minimum of 46.14 percent in 2021 and a maximum of 85.11 percent in 1960. The latest value from 2022 is 48.38 percent. For comparison, the world average in 2022 based on 124 countries is 62.86 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. This item also includes any statistical discrepancy in the use of resources relative to the supply of resources.