Taxes on goods and services, Ratio of this level of government's in South Korea
South Korea: Taxes on goods and services, Ratio of this level of government's was 0.6672 in 2020. ▼ Falling
Taxes on goods and services, Ratio of this level of government's in South Korea, 2012–2020
Source: International Monetary Fund.
Analysis
South Korea recorded 0.6672 for taxes on goods and services, ratio of this level of government's in 2020. That is the lowest value across all 9 years on record.
Compared with earlier readings it is down 6.7% on the previous year and down 15.3% over ten years.
Over the whole period, taxes on goods and services, ratio of this level of government's in South Korea peaked at 0.7897 in 2013 and was at its lowest, 0.6672, in 2020.
That places South Korea 73rd out of 80 countries with data for 2020, putting it in the bottom quarter.
Taxes on goods and services, Ratio of this level of government's in South Korea, year by year
| Year | Value | Change |
|---|---|---|
| 2012 | 0.7881 | — |
| 2013 | 0.7897 | +0.2% |
| 2014 | 0.7495 | -5.1% |
| 2015 | 0.7215 | -3.7% |
| 2016 | 0.7335 | +1.7% |
| 2017 | 0.7327 | -0.1% |
| 2018 | 0.7414 | +1.2% |
| 2019 | 0.715 | -3.6% |
| 2020 | 0.6672 | -6.7% |
South Korea compared with similar countries
- South Korea's 0.6672 is below the median for high income countries, which is 0.9695, 69% of the median. (42 countries reporting)
- South Korea's 0.6672 is below the median for East Asia & Pacific, which is 0.8665, 77% of the median. (11 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 0.7464 | 0.715 | 0.7897 | 8 |
| 2020s | 0.6672 | 0.6672 | 0.6672 | 1 |
Countries ranked near South Korea
More public sector data for South 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 taxes on goods and services, ratio of this level of government's in South Korea?
- Taxes on goods and services, ratio of this level of government's in South Korea was 0.6672 in 2020, according to International Monetary Fund.
- What is the highest taxes on goods and services, ratio of this level of government's recorded in South Korea?
- The highest recorded value was 0.7897 in 2013.
- What is the lowest taxes on goods and services, ratio of this level of government's recorded in South Korea?
- The lowest recorded value was 0.6672 in 2020.
- How does South Korea rank for taxes on goods and services, ratio of this level of government's?
- South Korea ranks 73rd out of 80 countries with data for 2020.
- Is taxes on goods and services, ratio of this level of government's rising or falling in South Korea?
- Over the last ten years it is down 15.3%. The long-run trend across the full record is falling.
- Where does this South Korea data come from?
- The figures come from International Monetary Fund, published as part of Taxes on goods and services, Ratio of this level of government's revenue from this item to total general government revenue from this item, Percent (Central government). Statizoid updates them automatically from the source API.
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About this data
The Fiscal Decentralization dataset includes fiscal decentralization indicators for a sample of IMF member countries. The following indicators are included in the dataset: Revenue and Expenditure Decentralization Shares; Transfer dependency and Vertical Fiscal Imbalances; Deficit and Debt; Allocation of expenditure (economic classification); Allocation of expenditure (functional classification); Allocation of non-Tax Revenues; and Allocation of Taxes.