Goods and services expense (current LCU) in South Korea
South Korea: Goods and services expense (current LCU) was 82.27 trillion current LCU in 2024. ◆ Volatile
Goods and services expense in South Korea, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
South Korea recorded 82.27 trillion current LCU for goods and services expense in 2024.
That represents a change of down 3.4% on the previous year and up 66.9% over ten years.
Over the whole period, goods and services expense in South Korea peaked at 85.19 trillion current LCU in 2023 and was at its lowest, 163.00 billion current LCU, in 1972.
South Korea ranks 2nd of 155 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Goods and services expense (current LCU) in South Korea, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 163.00 billion current LCU | — |
| 1973 | 181.00 billion current LCU | +11.0% |
| 1974 | 318.00 billion current LCU | +75.7% |
| 1975 | 465.00 billion current LCU | +46.2% |
| 1976 | 659.00 billion current LCU | +41.7% |
| 1977 | 865.00 billion current LCU | +31.3% |
| 1978 | 1.29 trillion current LCU | +49.4% |
| 1979 | 1.35 trillion current LCU | +4.7% |
| 1980 | 1.91 trillion current LCU | +41.2% |
| 1981 | 2.40 trillion current LCU | +25.4% |
| 1982 | 2.71 trillion current LCU | +13.3% |
| 1983 | 2.94 trillion current LCU | +8.4% |
| 1984 | 3.01 trillion current LCU | +2.2% |
| 1985 | 3.53 trillion current LCU | +17.3% |
| 1986 | 3.93 trillion current LCU | +11.4% |
| 1987 | 4.41 trillion current LCU | +12.2% |
| 1988 | 4.89 trillion current LCU | +10.8% |
| 1989 | 5.48 trillion current LCU | +12.1% |
| 1990 | 6.24 trillion current LCU | +14.0% |
| 1991 | 7.42 trillion current LCU | +18.9% |
| 1992 | 8.34 trillion current LCU | +12.3% |
| 1993 | 8.83 trillion current LCU | +5.9% |
| 1994 | 9.46 trillion current LCU | +7.2% |
| 1995 | 8.88 trillion current LCU | -6.1% |
| 1996 | 10.01 trillion current LCU | +12.6% |
| 1997 | 11.06 trillion current LCU | +10.5% |
| 1998 | 11.69 trillion current LCU | +5.7% |
| 1999 | 9.71 trillion current LCU | -16.9% |
| 2000 | 13.56 trillion current LCU | +39.6% |
| 2001 | 13.83 trillion current LCU | +2.0% |
| 2002 | 14.82 trillion current LCU | +7.2% |
| 2003 | 14.68 trillion current LCU | -0.9% |
| 2004 | 15.66 trillion current LCU | +6.7% |
| 2005 | 16.63 trillion current LCU | +6.1% |
| 2006 | 18.25 trillion current LCU | +9.8% |
| 2007 | 12.76 trillion current LCU | -30.1% |
| 2008 | 14.45 trillion current LCU | +13.2% |
| 2009 | 25.23 trillion current LCU | +74.6% |
| 2010 | 25.87 trillion current LCU | +2.5% |
| 2011 | 27.49 trillion current LCU | +6.3% |
| 2012 | 42.70 trillion current LCU | +55.3% |
| 2013 | 47.49 trillion current LCU | +11.2% |
| 2014 | 49.29 trillion current LCU | +3.8% |
| 2015 | 57.49 trillion current LCU | +16.6% |
| 2016 | 60.57 trillion current LCU | +5.4% |
| 2017 | 61.14 trillion current LCU | +0.9% |
| 2018 | 54.87 trillion current LCU | -10.3% |
| 2019 | 57.86 trillion current LCU | +5.5% |
| 2020 | 62.79 trillion current LCU | +8.5% |
| 2021 | 76.29 trillion current LCU | +21.5% |
| 2022 | 79.14 trillion current LCU | +3.7% |
| 2023 | 85.19 trillion current LCU | +7.7% |
| 2024 | 82.27 trillion current LCU | -3.4% |
South Korea compared with similar countries
- South Korea's 82.27 trillion current LCU is above the median for high income countries, which is 14.51 billion current LCU, 5670.2× the median. (57 countries reporting)
- South Korea's 82.27 trillion current LCU is above the median for East Asia & Pacific, which is 14.18 billion current LCU, 5800.8× the median. (25 countries reporting)
Biggest year-on-year movements
Years where Goods and services expense (current LCU) 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 | +75.7% | 181.00 billion current LCU | 318.00 billion current LCU |
| 2009 | +74.6% | 14.45 trillion current LCU | 25.23 trillion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 662.00 billion current LCU | 163.00 billion current LCU | 1.35 trillion current LCU | 8 |
| 1980s | 3.52 trillion current LCU | 1.91 trillion current LCU | 5.48 trillion current LCU | 10 |
| 1990s | 9.16 trillion current LCU | 6.24 trillion current LCU | 11.69 trillion current LCU | 10 |
| 2000s | 15.99 trillion current LCU | 12.76 trillion current LCU | 25.23 trillion current LCU | 10 |
| 2010s | 48.48 trillion current LCU | 25.87 trillion current LCU | 61.14 trillion current LCU | 10 |
| 2020s | 77.14 trillion current LCU | 62.79 trillion current LCU | 85.19 trillion current LCU | 5 |
Countries ranked near South Korea
More public sector data for South Korea
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Frequently asked questions
- What is goods and services expense in South Korea?
- Goods and services expense in South Korea was 82.27 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest goods and services expense recorded in South Korea?
- The highest recorded value was 85.19 trillion current LCU in 2023.
- What is the lowest goods and services expense recorded in South Korea?
- The lowest recorded value was 163.00 billion current LCU in 1972.
- How does South Korea rank for goods and services expense?
- South Korea ranks 2nd out of 155 countries with data for 2024.
- Is goods and services expense rising or falling in South Korea?
- Over the last ten years it is up 66.9%. 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 Goods and services expense (current LCU). Statizoid updates them automatically from the source API.
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About this data
Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. 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.