South Korea: Household consumption, in dollars

For that indicator, we provide data for South Korea from 1960 to 2021. The average value for South Korea during that period was 264.01 billion U.S. dollars with a minimum of 2.03 billion U.S. dollars in 1961 and a maximum of 832.66 billion U.S. dollars in 2021. The latest value from 2021 is 832.66 billion U.S. dollars. For comparison, the world average in 2021 based on 125 countries is 203.94 billion U.S. dollars. 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. Data are in current U.S. dollars.