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, we provide data for South Korea from 1960 to 2019. The average value for South Korea during that period was 59.72 percent with a minimum of 47.55 percent in 2017 and a maximum of 85.14 percent in 1960.
The latest value from 2019 is 48.58 percent. For comparison, the world average in 2019 based on 133
countries is 62.93 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.