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South Korea Government Budget: Revenues and Spending

South Korea Government Budget Data

Indicator Data Period
Government Budget Value -50848 KRW Billion | -41.338 B USD Nov/22
Government Spending 90145 KRW Billion | 73.285 B USD 4Q/22
Government Revenues 544975 KRW Billion | 443.048 B USD Nov/22
Government Budget to GDP -5.6 % 2021
Government Spending to GDP 38.1 % 2020


Latest data on Government Budget Value (KRW Billion)

Government Budget Value
                     South Korea - Historical Data (KRW Billion)

How much is South Korea Government Budget?

  • The deficit of government budget in South Korea decreased to 50848 KRW Billion (41.338 B USD) in November 2022. The maximum surplus was 42914 KRW Billion and deficit was -89971 KRW Billion.
  • Data published Monthly by Central Bank.

Historical Data (KRW Billion) by years

Data
Period
Date
-50848 Nov/22 14.01.2023
-43058 Oct/22 17.12.2022
-52719 Sep/22 19.11.2022
-50639 Aug/22 15.10.2022
-56339 Jul/22 17.09.2022
-75011 Jun/22 25.08.2022
-48889 May/22 16.07.2022
-21317 Apr/22 18.06.2022


Historical Chart by presidents (KRW Billion)

Government Budget Value in South Korea by presidents

Name Period Start Data End Data Max Value Min Value CHG% Start/End
Mun Jaei-n 10.05.2017 - 11291.0000 244.0000 29177.0000 244.0000 -97.84%
Park Geun-hye 25.02.2013 - 10.05.2017 -9317.0000 9070.0000 21010.0000 -28619.0000 -197.35%
Lee Myung-bak 25.02.2008 - 25.02.2013 8846.0000 5164.0000 32706.0000 -25812.0000 -41.62%
Roh Moo-hyun 25.02.2003 - 25.02.2008 7518.0000 16623.0000 42914.0000 -11236.0000 121.11%
Kim Dae-jung 25.02.1998 - 25.02.2003 -13065.0000 6994.0000 34084.0000 -13065.0000 -153.53%


Latest data on Government Spending (KRW Billion)

Government Spending
                     South Korea - Historical Data (KRW Billion)

What is current South Korea Government Spending?

  • Government Spending in South Korea increased to 90145 KRW Billion (73.285 B USD) in the forth quarter of 2022. The maximum volume was 81349 KRW Billion and minimum was 2925 KRW Billion
  • Data published Quarterly by Central Bank.

Historical Data (KRW Billion) by years

Data
Period
Date
90145 4Q/22 28.01.2023
87475 3Q/22 29.10.2022
87638 2Q/22 30.07.2022
86413 1Q/22 30.04.2022
86269 4Q/21 29.01.2022
85257 3Q/21 26.10.2021
84291 2Q/21 31.07.2021
81349 1Q/21 01.05.2021


Historical Chart by presidents (KRW Billion)

Government Spending in South Korea by presidents

Name Period Start Data End Data Max Value Min Value CHG% Start/End
Mun Jaei-n 10.05.2017 - 56774.5000 59609.0000 59609.0000 56774.5000 4.99%
Park Geun-hye 25.02.2013 - 10.05.2017 49052.4000 56167.8000 56167.8000 49052.4000 14.51%
Lee Myung-bak 25.02.2008 - 25.02.2013 40882.5000 48451.1000 48451.1000 40882.5000 18.51%
Roh Moo-hyun 25.02.2003 - 25.02.2008 31681.3000 40786.0000 40786.0000 31681.3000 28.74%
Kim Dae-jung 25.02.1998 - 25.02.2003 25535.4000 31419.2000 31419.2000 25535.4000 23.04%
Kim Youngs-am 25.02.1993 - 25.02.1998 21000.5000 25449.2000 25449.2000 21000.5000 21.18%
Roh Tae-woo 25.02.1988 - 25.02.1993 14327.4000 20878.5000 20878.5000 14327.4000 45.72%


Latest data on Government Revenues (KRW Billion)

Government Revenues
                     South Korea - Historical Data (KRW Billion)

How much is South Korea Government Revenue?

  • Government Revenues in South Korea increased to 544975 KRW Billion (443.048 B USD) in November 2022. The maximum volume was 443853 KRW Billion and minimum was 14987 KRW Billion
  • Data published Monthly by Central Bank.

Historical Data (KRW Billion) by years

Data
Period
Date
544975 Nov/22 14.01.2023
513411 Oct/22 17.12.2022
460929 Sep/22 19.11.2022
418615 Aug/22 15.10.2022
376392 Jul/22 17.09.2022
318786 Jun/22 25.08.2022
281457 May/22 16.07.2022
236310 Apr/22 18.06.2022


Historical Chart by presidents (KRW Billion)

Government Revenues in South Korea by presidents

Name Period Start Data End Data Max Value Min Value CHG% Start/End
Mun Jaei-n 10.05.2017 - 160798.0000 160798.0000 160798.0000 160798.0000 0.00%


Latest data on Government Budget to GDP (%)

Government Budget to GDP
                     South Korea - Historical Data (%)

What is the deficit of South Korea Government Budget?

  • The deficit of Current Account to GDP in South Korea decreased to 5.6 % in 2021. The maximum surplus was 3.47 % and deficit was -6.1 %.
  • Data published Yearly by Statistics.

Historical Data (%) by years

Data
Period
Date
-5.6 2021 14.11.2022
-6.1 2020 04.06.2021
-2.6 2019 19.07.2020
-1.6 2018 04.07.2019


Historical Chart by presidents (%)

Government Budget to GDP in South Korea by presidents

Name Period Start Data End Data Max Value Min Value CHG% Start/End


Latest data on Government Spending to GDP (%)

Government Spending to GDP
                     South Korea - Historical Data (%)

What is South Korea government spending ratio to GDP?

  • Government Spending to GDP in South Korea increased to 38.1 % in 2020. The maximum level was 32.28 % and minimum was 17.9 %.
  • Data published Yearly by Central Bank.

Historical Data (%) by years

Data
Period
Date
38.1 2020 27.01.2023
33.87 2019 19.07.2022
31.15 2018 25.02.2021
30.27 2017 09.03.2020
32.26 2016 04.07.2019


Historical Chart by presidents (%)

Government Spending to GDP in South Korea by presidents

Name Period Start Data End Data Max Value Min Value CHG% Start/End

Other budget indicators in South Korea

Index Updated Actual Previous
Government Debt to GDP 2021 46.9 % 42.6
Fiscal Expenditure  Nov/22 484.386 B USD 452.394
Military Expenditure 2021 50.227 B USD 45.524

Government Budget to GDP in other countries

Country Updated Actual Previous
Bangladesh 2021 -6.23 % -5.48
Jordan 2021 -5.4 % -7
Kyrgyzstan 2021 -0.2 % 0.5
Mongolia 2021 -6.8 % -11.5
Nepal 2021 -6.3 % -6.8
Palestine 2021 1.9 % -0.7
Tajikistan 2021 0.2 % 0.3
Cambodia 2020 -2.6 % 0.5
China 2021 -3.1 % -3.7
Georgia 2021 -6 % -9.3
India 2021 -6.9 % -9.5
Israel 2022 0.6 % -4.4
Pakistan 2021 -7.1 % -8.1
South Korea 2021 -5.6 % -3.5
Taiwan 2021 -0.5 % -2.9
Vietnam 2021 -3.41 % 4
Maldives 2021 -16.6 % -23.5
Armenia 2021 -4.6 % -5.4
Hong Kong 2021 -3.6 % -12
Indonesia 2022 -2.38 % -4.65
Japan 2021 -5.9 % -9.3
Kazakhstan 2020 -4 % -1.8
Lebanon 2020 -3.5 % -10.4
Malaysia 2021 -6.4 % -6.2
Philippines 2021 -8.6 % -7.6
Qatar 2021 0.24 % -2
Singapore 2021 -0.9 % -10.8
Sri Lanka 2021 -12.2 % -11.1
Thailand 2022 -4.9 % -9.1
Oman 2021 -2.6 % -16
Iran 2021 -3.9 % -9.5
Laos 2021 -1.3 % -5.2
Azerbaijan 2022 -1 % -1.1
Kuwait 2021 -0.5 % -12.8
Saudi Arabia 2021 -2.3 % -11.2
Bahrain 2021 -35 % -13.1
United Arab Emirates 2021 0.8 % -4.9
Yemen 2018 -4.4 % -4.8
Turkmenistan 2021 -0.3 % 0.1
Uzbekistan 2021 -6 % -4.4
Iraq 2021 -0.8 % -12.8
Syria 2012 -11.4 % -1.14
Afghanistan 2021 -4.5 % -3.4
Bhutan 2021 -6.3 % -1.9
Brunei 2020 -19.3 % -5.6
Mauritius 2021 -5 % -5.6