Expense in South Korea
South Korea: Expense was 682.20 trillion current LCU in 2023. ◆ Volatile
Expense in South Korea, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
The most recent figure for expense in South Korea is 682.20 trillion current LCU, measured in 2023.
That represents a change of down 6.2% on the previous year and up 89.1% over ten years.
Over the whole period, expense in South Korea peaked at 727.29 trillion current LCU in 2022 and was at its lowest, 625.00 billion current LCU, in 1973.
South Korea ranks 3rd of 157 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Expense in South Korea, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 661.00 billion current LCU | — |
| 1973 | 625.00 billion current LCU | -5.4% |
| 1974 | 977.00 billion current LCU | +56.3% |
| 1975 | 1.46 trillion current LCU | +49.3% |
| 1976 | 2.11 trillion current LCU | +44.5% |
| 1977 | 2.54 trillion current LCU | +20.3% |
| 1978 | 3.42 trillion current LCU | +35.0% |
| 1979 | 4.75 trillion current LCU | +38.8% |
| 1980 | 5.96 trillion current LCU | +25.6% |
| 1981 | 7.39 trillion current LCU | +23.9% |
| 1982 | 9.12 trillion current LCU | +23.4% |
| 1983 | 9.64 trillion current LCU | +5.8% |
| 1984 | 10.77 trillion current LCU | +11.6% |
| 1985 | 12.24 trillion current LCU | +13.7% |
| 1986 | 13.64 trillion current LCU | +11.4% |
| 1987 | 15.40 trillion current LCU | +12.9% |
| 1988 | 17.84 trillion current LCU | +15.8% |
| 1989 | 21.73 trillion current LCU | +21.8% |
| 1990 | 26.59 trillion current LCU | +22.4% |
| 1991 | 31.96 trillion current LCU | +20.2% |
| 1992 | 37.24 trillion current LCU | +16.5% |
| 1993 | 41.35 trillion current LCU | +11.0% |
| 1994 | 49.12 trillion current LCU | +18.8% |
| 1995 | 57.03 trillion current LCU | +16.1% |
| 1996 | 65.04 trillion current LCU | +14.0% |
| 1997 | 70.74 trillion current LCU | +8.8% |
| 1998 | 82.06 trillion current LCU | +16.0% |
| 1999 | 87.81 trillion current LCU | +7.0% |
| 2000 | 100.29 trillion current LCU | +14.2% |
| 2001 | 115.46 trillion current LCU | +15.1% |
| 2002 | 121.16 trillion current LCU | +4.9% |
| 2003 | 144.87 trillion current LCU | +19.6% |
| 2004 | 155.97 trillion current LCU | +7.7% |
| 2005 | 170.61 trillion current LCU | +9.4% |
| 2006 | 186.56 trillion current LCU | +9.3% |
| 2007 | 196.37 trillion current LCU | +5.3% |
| 2008 | 211.42 trillion current LCU | +7.7% |
| 2009 | 232.66 trillion current LCU | +10.0% |
| 2010 | 233.14 trillion current LCU | +0.2% |
| 2011 | 251.90 trillion current LCU | +8.0% |
| 2012 | 354.75 trillion current LCU | +40.8% |
| 2013 | 360.69 trillion current LCU | +1.7% |
| 2014 | 369.15 trillion current LCU | +2.3% |
| 2015 | 389.46 trillion current LCU | +5.5% |
| 2016 | 409.16 trillion current LCU | +5.1% |
| 2017 | 439.89 trillion current LCU | +7.5% |
| 2018 | 472.99 trillion current LCU | +7.5% |
| 2019 | 529.48 trillion current LCU | +11.9% |
| 2020 | 576.90 trillion current LCU | +9.0% |
| 2021 | 634.28 trillion current LCU | +9.9% |
| 2022 | 727.29 trillion current LCU | +14.7% |
| 2023 | 682.20 trillion current LCU | -6.2% |
South Korea compared with similar countries
- South Korea's 682.20 trillion current LCU is above the median for high income countries, which is 134.42 billion current LCU, 5075.2× the median. (57 countries reporting)
- South Korea's 682.20 trillion current LCU is above the median for East Asia & Pacific, which is 94.75 billion current LCU, 7200.1× the median. (26 countries reporting)
Biggest year-on-year movements
Years where Expense in South Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1974 | +56.3% | 625.00 billion current LCU | 977.00 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.07 trillion current LCU | 625.00 billion current LCU | 4.75 trillion current LCU | 8 |
| 1980s | 12.37 trillion current LCU | 5.96 trillion current LCU | 21.73 trillion current LCU | 10 |
| 1990s | 54.89 trillion current LCU | 26.59 trillion current LCU | 87.81 trillion current LCU | 10 |
| 2000s | 163.54 trillion current LCU | 100.29 trillion current LCU | 232.66 trillion current LCU | 10 |
| 2010s | 381.06 trillion current LCU | 233.14 trillion current LCU | 529.48 trillion current LCU | 10 |
| 2020s | 655.17 trillion current LCU | 576.90 trillion current LCU | 727.29 trillion current LCU | 4 |
Countries ranked near South Korea
More public sector data for South Korea
- Democracy, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is expense in South Korea?
- Expense in South Korea was 682.20 trillion current LCU in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest expense recorded in South Korea?
- The highest recorded value was 727.29 trillion current LCU in 2022.
- What is the lowest expense recorded in South Korea?
- The lowest recorded value was 625.00 billion current LCU in 1973.
- How does South Korea rank for expense?
- South Korea ranks 3rd out of 157 countries with data for 2023.
- Is expense rising or falling in South Korea?
- Over the last ten years it is up 89.1%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Expense (current LCU). Statizoid updates them automatically from the source API.
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About this data
Expense is a decrease in net worth resulting from a transaction. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.