South Korea: Household consumption, percent of GDP
(measure: percent; Source: The World Bank)
* indicates monthly or quarterly data series
South Korea: Household consumption as percent of GDP
For that indicator, The World Bank provides data for South Korea from 1960 to 2018. The average value for South Korea during that period was 59.67 percent with a minumum of 48.09 percent in 2017 and a maximum of 85.16 percent in 1960.
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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.