Net incurrence of liabilities, total in Korea, Republic of
Korea, Republic of: Net incurrence of liabilities, total was 51.22 trillion current LCU in 2024. β Volatile
Net incurrence of liabilities, total in Korea, Republic of, 1972β2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Korea, Republic of recorded 51.22 trillion current LCU for net incurrence of liabilities, total in 2024.
That represents a change of down 17.8% on the previous year and up 15.5% over ten years.
Over the whole period, net incurrence of liabilities, total in Korea, Republic of peaked at 129.31 trillion current LCU in 2020 and was at its lowest, -27.55 trillion current LCU, in 2003.
Korea, Republic of ranks 4th of 136 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 325.25 billion current LCU | 74.00 billion current LCU | 594.00 billion current LCU | 8 |
| 1980s | 817.40 billion current LCU | -21.00 billion current LCU | 1.88 trillion current LCU | 10 |
| 1990s | 3.92 trillion current LCU | -1.63 trillion current LCU | 17.45 trillion current LCU | 10 |
| 2000s | -2.22 trillion current LCU | -27.55 trillion current LCU | 57.16 trillion current LCU | 10 |
| 2010s | 35.01 trillion current LCU | 15.01 trillion current LCU | 55.10 trillion current LCU | 10 |
| 2020s | 88.96 trillion current LCU | 51.22 trillion current LCU | 129.31 trillion current LCU | 5 |
Countries ranked near Korea, Republic of
More public sector data for Korea, Republic of
- Arms imports 1.01 billion SIPRI trend indicator values (2024)
- 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)
- Arms imports (SIPRI trend indicator values), gaps filled 1.01 billion SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 2,234 SIPRI trend indicator values per square kilometre (2023)
- Tax revenue 13.3% (2024)
- Capital stock, General government, Current prices, Domestic currency 1.22 million (2019)
- Taxes on income, profits and capital gains 27.5% (2024)
- Capital stock, General government, Constant prices, Percent of GDP 60.69 (2019)
Frequently asked questions
- What is net incurrence of liabilities, total in Korea, Republic of?
- Net incurrence of liabilities, total in Korea, Republic of was 51.22 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Korea, Republic of?
- The highest recorded value was 129.31 trillion current LCU in 2020.
- What is the lowest net incurrence of liabilities, total recorded in Korea, Republic of?
- The lowest recorded value was -27.55 trillion current LCU in 2003.
- How does Korea, Republic of rank for net incurrence of liabilities, total?
- Korea, Republic of ranks 4th out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in Korea, Republic of?
- Over the last ten years it is up 15.5%. The long-run trend across the full record is volatile.
- Where does this Korea, Republic of data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (current LCU). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. 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.