Goods and services expense (% of expense) in South Korea
South Korea: Goods and services expense (% of expense) was 12.5% in 2023. ▼ Falling
Goods and services expense in South Korea, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
In 2023, goods and services expense in South Korea stood at 12.5%.
Compared with earlier readings it is up 14.8% on the previous year and down 5.2% over ten years.
Over the whole period, goods and services expense in South Korea peaked at 37.8% in 1978 and was at its lowest, 6.5%, in 2007.
That places South Korea 91st out of 154 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently falling across the 52 years of available data.
Goods and services expense (% of expense) in South Korea, year by year
| Year | % of expense | Change |
|---|---|---|
| 1972 | 24.7% | — |
| 1973 | 29.0% | +17.4% |
| 1974 | 32.5% | +12.4% |
| 1975 | 31.9% | -2.1% |
| 1976 | 31.3% | -1.9% |
| 1977 | 34.1% | +9.1% |
| 1978 | 37.8% | +10.7% |
| 1979 | 28.5% | -24.5% |
| 1980 | 32.0% | +12.4% |
| 1981 | 32.4% | +1.2% |
| 1982 | 29.8% | -8.1% |
| 1983 | 30.5% | +2.5% |
| 1984 | 27.9% | -8.5% |
| 1985 | 28.8% | +3.2% |
| 1986 | 28.8% | +0.0% |
| 1987 | 28.6% | -0.6% |
| 1988 | 27.4% | -4.3% |
| 1989 | 25.2% | -8.0% |
| 1990 | 23.5% | -6.8% |
| 1991 | 23.2% | -1.1% |
| 1992 | 22.4% | -3.6% |
| 1993 | 21.3% | -4.7% |
| 1994 | 19.3% | -9.8% |
| 1995 | 15.6% | -19.1% |
| 1996 | 15.4% | -1.2% |
| 1997 | 15.6% | +1.6% |
| 1998 | 14.2% | -8.9% |
| 1999 | 11.1% | -22.3% |
| 2000 | 13.5% | +22.2% |
| 2001 | 12.0% | -11.4% |
| 2002 | 12.2% | +2.1% |
| 2003 | 10.1% | -17.2% |
| 2004 | 10.0% | -0.9% |
| 2005 | 9.7% | -3.0% |
| 2006 | 9.8% | +0.4% |
| 2007 | 6.5% | -33.6% |
| 2008 | 6.8% | +5.2% |
| 2009 | 10.8% | +58.7% |
| 2010 | 11.1% | +2.3% |
| 2011 | 10.9% | -1.7% |
| 2012 | 12.0% | +10.3% |
| 2013 | 13.2% | +9.4% |
| 2014 | 13.4% | +1.4% |
| 2015 | 14.8% | +10.6% |
| 2016 | 14.8% | +0.3% |
| 2017 | 13.9% | -6.1% |
| 2018 | 11.6% | -16.5% |
| 2019 | 10.9% | -5.8% |
| 2020 | 10.9% | -0.4% |
| 2021 | 12.0% | +10.5% |
| 2022 | 10.9% | -9.5% |
| 2023 | 12.5% | +14.8% |
South Korea compared with similar countries
- South Korea's 12.5% is above the median for high income countries, which is 9.6%, 1.3× the median. (56 countries reporting)
- South Korea's 12.5% is below the median for East Asia & Pacific, which is 22.3%, 56% of the median. (25 countries reporting)
Biggest year-on-year movements
Years where Goods and services expense (% of 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 |
|---|---|---|---|
| 2009 | +58.7% | 6.8% | 10.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 31.2% | 24.7% | 37.8% | 8 |
| 1980s | 29.1% | 25.2% | 32.4% | 10 |
| 1990s | 18.2% | 11.1% | 23.5% | 10 |
| 2000s | 10.2% | 6.5% | 13.5% | 10 |
| 2010s | 12.7% | 10.9% | 14.8% | 10 |
| 2020s | 11.6% | 10.9% | 12.5% | 4 |
Countries ranked near South Korea
More public sector data for South Korea
- Democracy, 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)
- Elected parliament, 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)
- Arms imports 222.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 19.5 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 362.84 % change on previous year (2024)
Frequently asked questions
- What is goods and services expense in South Korea?
- Goods and services expense in South Korea was 12.5% in 2023, 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 37.8% in 1978.
- What is the lowest goods and services expense recorded in South Korea?
- The lowest recorded value was 6.5% in 2007.
- How does South Korea rank for goods and services expense?
- South Korea ranks 91st out of 154 countries with data for 2023.
- Is goods and services expense rising or falling in South Korea?
- Over the last ten years it is down 5.2%. The long-run trend across the full record is falling.
- 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 (% of expense). 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 own account capital formation is excluded. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.