Annual government expenditure by function (COFOG) — Gross capital in Korea
Korea: Annual government expenditure by function (COFOG) — Gross capital was 117.77 million National currency in 2023. ◆ Volatile
Annual government expenditure by function (COFOG) — Gross capital in Korea, 1970–2023
Source: Organisation for Economic Co-operation and Development. Measured in National currency.
Analysis
The most recent figure for annual government expenditure by function (cofog) — gross capital in Korea is 117.77 million National currency, measured in 2023. That is the highest value across all 54 years on record.
Compared with earlier readings it is up 8.3% on the previous year and up 45.8% over ten years.
Over the whole period, annual government expenditure by function (cofog) — gross capital in Korea peaked at 117.77 million National currency in 2023 and was at its lowest, 178,400 National currency, in 1970.
The series is highly variable year to year, so single readings are best treated with caution.
Annual government expenditure by function (COFOG) — Gross capital in Korea, year by year
| Year | National currency | Change |
|---|---|---|
| 1970 | 178,400 National currency | — |
| 1971 | 225,300 National currency | +26.3% |
| 1972 | 218,800 National currency | -2.9% |
| 1973 | 298,500 National currency | +36.4% |
| 1974 | 333,700 National currency | +11.8% |
| 1975 | 733,800 National currency | +119.9% |
| 1976 | 882,100 National currency | +20.2% |
| 1977 | 1.24 million National currency | +40.8% |
| 1978 | 1.55 million National currency | +25.2% |
| 1979 | 2.07 million National currency | +32.9% |
| 1980 | 2.49 million National currency | +20.5% |
| 1981 | 4.37 million National currency | +75.4% |
| 1982 | 3.66 million National currency | -16.1% |
| 1983 | 4.18 million National currency | +13.9% |
| 1984 | 4.13 million National currency | -1.1% |
| 1985 | 4.95 million National currency | +19.9% |
| 1986 | 5.14 million National currency | +3.7% |
| 1987 | 5.63 million National currency | +9.7% |
| 1988 | 7.49 million National currency | +32.9% |
| 1989 | 9.01 million National currency | +20.3% |
| 1990 | 11.53 million National currency | +28.1% |
| 1991 | 15.36 million National currency | +33.2% |
| 1992 | 18.04 million National currency | +17.5% |
| 1993 | 19.10 million National currency | +5.8% |
| 1994 | 20.18 million National currency | +5.7% |
| 1995 | 24.68 million National currency | +22.3% |
| 1996 | 29.28 million National currency | +18.7% |
| 1997 | 35.08 million National currency | +19.8% |
| 1998 | 36.43 million National currency | +3.8% |
| 1999 | 35.03 million National currency | -3.8% |
| 2000 | 38.84 million National currency | +10.9% |
| 2001 | 41.27 million National currency | +6.3% |
| 2002 | 42.73 million National currency | +3.5% |
| 2003 | 51.57 million National currency | +20.7% |
| 2004 | 59.30 million National currency | +15.0% |
| 2005 | 57.65 million National currency | -2.8% |
| 2006 | 58.35 million National currency | +1.2% |
| 2007 | 63.12 million National currency | +8.2% |
| 2008 | 69.81 million National currency | +10.6% |
| 2009 | 92.88 million National currency | +33.0% |
| 2010 | 78.33 million National currency | -15.7% |
| 2011 | 76.42 million National currency | -2.4% |
| 2012 | 77.96 million National currency | +2.0% |
| 2013 | 80.76 million National currency | +3.6% |
| 2014 | 75.66 million National currency | -6.3% |
| 2015 | 79.26 million National currency | +4.8% |
| 2016 | 80.27 million National currency | +1.3% |
| 2017 | 88.26 million National currency | +10.0% |
| 2018 | 89.93 million National currency | +1.9% |
| 2019 | 103.49 million National currency | +15.1% |
| 2020 | 105.63 million National currency | +2.1% |
| 2021 | 103.24 million National currency | -2.3% |
| 2022 | 108.78 million National currency | +5.4% |
| 2023 | 117.77 million National currency | +8.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 773,440 National currency | 178,400 National currency | 2.07 million National currency | 10 |
| 1980s | 5.10 million National currency | 2.49 million National currency | 9.01 million National currency | 10 |
| 1990s | 24.47 million National currency | 11.53 million National currency | 36.43 million National currency | 10 |
| 2000s | 57.55 million National currency | 38.84 million National currency | 92.88 million National currency | 10 |
| 2010s | 83.03 million National currency | 75.66 million National currency | 103.49 million National currency | 10 |
| 2020s | 108.85 million National currency | 103.24 million National currency | 117.77 million National currency | 4 |
Countries ranked near Korea
- 1 Colombia 48.40 million National currency compare
- 2 Japan 25.48 million National currency compare
- 3 Poland 180,658 National currency compare
- 3 Chile 6.74 million National currency compare
- 3 Croatia 4,461 National currency compare
- 4 Netherlands 36,167 National currency compare
- 4 Hungary 3.43 million National currency compare
More public sector data for Korea
- Government budget allocations for R&D — Government Allocations for R&D 28,685 US dollars, PPP converted (2024)
- Annual government non-financial accounts and key indicators -37.48 million National currency (2024)
- Annual government non-financial accounts and key indicators (Revenue) 28.43 million National currency (2024)
- Annual government non-financial accounts and key indicators 115.94 million National currency (2024)
- Annual government non-financial accounts and key indicators (Revenue) 858.80 million National currency (2024)
- Annual government non-financial accounts and key indicators 169.17 million National currency (2024)
- NAAG Chapter 6: Government — Compensation of employees by general 6.6 Percentage of GDP (2024)
- Annual government expenditure by function (COFOG) — Gross fixed 113.41 million National currency (2023)
- Annual government expenditure by function (COFOG) — Compensation of 159.16 million National currency (2023)
- NAAG Chapter 6A: Government expenditure by function — Expenditure by 35.6 Percentage of GDP (2023)
Frequently asked questions
- What is annual government expenditure by function (cofog) — gross capital in Korea?
- Annual government expenditure by function (cofog) — gross capital in Korea was 117.77 million National currency in 2023, according to Organisation for Economic Co-operation and Development.
- What is the highest annual government expenditure by function (cofog) — gross capital recorded in Korea?
- The highest recorded value was 117.77 million National currency in 2023.
- What is the lowest annual government expenditure by function (cofog) — gross capital recorded in Korea?
- The lowest recorded value was 178,400 National currency in 1970.
- How does Korea rank for annual government expenditure by function (cofog) — gross capital?
- Korea ranks 1st out of 3 groups with data for 2023.
- Is annual government expenditure by function (cofog) — gross capital rising or falling in Korea?
- Over the last ten years it is up 45.8%. The long-run trend across the full record is volatile.
- Where does this Korea data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Annual government expenditure by function (COFOG) — Gross capital formation and acquisitions less disposals of non-produced assets. Statizoid updates them automatically from the source API.
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About this data
This table provides a breakdown of government expenditure according to the Classification of the Functions of Government (COFOG), which shows how much governments spend in areas such as health, education, environmental protection, defence and servicing public debt. The presentation is on a country-by-country basis. Users are recommended to select one country (or area) at a time in the ‘Reference area’ filter. Data is presented for each country in national currency as well as in euros for the European Union and the euro area. Data are also available, for most countries, for the sub-sectors of general government. Specific categories of expenditure (such as health and education) can be selected using the ‘Expenditure’ filter, while details of the type of expenditure such as compensation of employees (payment of wages and salaries and employers’ social contributions) can be selected using the ‘Transaction’ filter. For government final consumption expenditure a breakdown is also provided, in the ‘Transaction’ filter, between individual and collective consumption expenditure. Data is for General Government. For most countries, results are also available for the General Government sub-sectors: central, local and state (regional) government and social security. These sub-sectors can be selected using the ‘Institutional sector’ filter. These indicators were presented in the previous dissemination system in the SNA_TABLE11 dataset. See ANA Changes for information on changes in methodology: ANA Changes Explore also the Government Finances and Public Sector Debt webpage: Government Finances and Public Sector Debt webpage OECD statistics contact: STAT.Contact@oecd.org