Tax revenue in Republic of Korea
Republic of Korea: Tax revenue was 13.3% in 2024. ▲ Rising
Tax revenue in Republic of Korea, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for tax revenue in Republic of Korea is 13.3%, measured in 2024.
The figure is down 8.9% on the previous year and up 5.3% over ten years.
Over the whole period, tax revenue in Republic of Korea peaked at 17.2% in 2022 and was at its lowest, 10.3%, in 1973.
Republic of Korea ranks 103rd of 157 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 53 years of available data.
Tax revenue in Republic of Korea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 11.0% | — |
| 1973 | 10.3% | -6.3% |
| 1974 | 11.4% | +10.2% |
| 1975 | 13.0% | +14.2% |
| 1976 | 14.2% | +9.5% |
| 1977 | 13.9% | -2.3% |
| 1978 | 14.3% | +2.9% |
| 1979 | 14.5% | +1.3% |
| 1980 | 14.4% | -0.6% |
| 1981 | 14.4% | -0.2% |
| 1982 | 14.4% | +0.2% |
| 1983 | 14.5% | +0.6% |
| 1984 | 13.6% | -6.3% |
| 1985 | 13.2% | -3.0% |
| 1986 | 12.9% | -2.2% |
| 1987 | 13.1% | +1.4% |
| 1988 | 13.0% | -0.7% |
| 1989 | 12.5% | -4.0% |
| 1990 | 13.0% | +4.4% |
| 1991 | 12.2% | -6.6% |
| 1992 | 12.3% | +1.4% |
| 1993 | 12.1% | -1.9% |
| 1994 | 12.3% | +1.5% |
| 1995 | 12.6% | +2.3% |
| 1996 | 12.8% | +1.9% |
| 1997 | 12.5% | -2.5% |
| 1998 | 12.2% | -2.4% |
| 1999 | 12.3% | +1.3% |
| 2000 | 13.8% | +11.4% |
| 2001 | 13.1% | -4.9% |
| 2002 | 12.8% | -2.2% |
| 2003 | 13.2% | +3.3% |
| 2004 | 12.5% | -5.4% |
| 2005 | 12.8% | +2.5% |
| 2006 | 13.2% | +3.1% |
| 2007 | 14.2% | +7.8% |
| 2008 | 13.9% | -2.3% |
| 2009 | 13.1% | -5.8% |
| 2010 | 12.9% | -1.7% |
| 2011 | 13.3% | +3.1% |
| 2012 | 13.5% | +1.5% |
| 2013 | 13.0% | -3.3% |
| 2014 | 12.6% | -3.0% |
| 2015 | 12.5% | -0.8% |
| 2016 | 13.3% | +6.0% |
| 2017 | 13.8% | +3.6% |
| 2018 | 14.7% | +6.8% |
| 2019 | 14.3% | -2.4% |
| 2020 | 14.0% | -2.3% |
| 2021 | 15.7% | +11.8% |
| 2022 | 17.2% | +9.5% |
| 2023 | 14.6% | -14.9% |
| 2024 | 13.3% | -8.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 12.8% | 10.3% | 14.5% | 8 |
| 1980s | 13.6% | 12.5% | 14.5% | 10 |
| 1990s | 12.4% | 12.1% | 13.0% | 10 |
| 2000s | 13.3% | 12.5% | 14.2% | 10 |
| 2010s | 13.4% | 12.5% | 14.7% | 10 |
| 2020s | 14.9% | 13.3% | 17.2% | 5 |
Countries ranked near Republic of Korea
More public sector data for Republic of Korea
- 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)
- Military expenditure (current USD), per capita 919.23 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0254 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -0.4824 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 47.57 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 2,234 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is tax revenue in Republic of Korea?
- Tax revenue in Republic of Korea was 13.3% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Republic of Korea?
- The highest recorded value was 17.2% in 2022.
- What is the lowest tax revenue recorded in Republic of Korea?
- The lowest recorded value was 10.3% in 1973.
- How does Republic of Korea rank for tax revenue?
- Republic of Korea ranks 103rd out of 157 countries with data for 2024.
- Is tax revenue rising or falling in Republic of Korea?
- Over the last ten years it is up 5.3%. The long-run trend across the full record is rising.
- Where does this Republic of Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Tax revenue (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Taxes are compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.