South Korea: Household consumption, in dollars

* indicates monthly or quarterly data series
 South Korea

Household consumption, billion USD

 Latest value 838.03
 Year 2023
 Measure billion U.S. dollars
 Data availability 1960 - 2023
 Average 281.51
 Min - Max 2.03 - 838.03
 Source The World Bank
For that indicator, we provide data for South Korea from 1960 to 2023. The average value for South Korea during that period was 281.51 billion U.S. dollars with a minimum of 2.03 billion U.S. dollars in 1961 and a maximum of 838.03 billion U.S. dollars in 2023. The latest value from 2023 is 838.03 billion U.S. dollars. For comparison, the world average in 2023 based on 131 countries is 221.09 billion U.S. dollars. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
South Korea - Household consumption, in dollars - Recent values chart

Historical chart
South Korea - Household consumption, in dollars - historical chart - 1960-2023

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.

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 Related indicators Latest value Reference Measure
 Capital investment, percent of GDP 33.18 2022 percent
 Capital investment, in dollars 550.31 2023 billion U.S. dollars
 Household consumption, percent of GDP 48.93 2023 percent
 Household consumption, in dollars 838.03 2023 billion U.S. dollars
 Household consumption 301,726.50 Q3/2023 billion
 Consumption as percent of GDP 49.37 Q3/2023 percent
 Consumption growth 3.19 Q3/2023 percent
 Investment 193,086.40 Q3/2023 billion
 Investment as percent of GDP 31.60 Q3/2023 percent
 Investment growth 3.16 Q3/2023 percent
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