South Korea recorded a Government Debt to GDP of 49.60 percent of the country's Gross Domestic Product in 2022. Government Debt to GDP in South Korea averaged 25.88 percent of GDP from 1990 until 2022, reaching an all time high of 49.60 percent of GDP in 2022 and a record low of 8.24 percent of GDP in 1996. source: Ministry of Strategy and Finance, South Korea

Government Debt to GDP in South Korea is expected to reach 53.00 percent of GDP by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Government Debt to GDP is projected to trend around 50.00 percent of GDP in 2024 and 49.00 percent of GDP in 2025, according to our econometric models.

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South Korea Government Debt to GDP


Related Last Previous Unit Reference
Government Debt to GDP 49.60 46.90 percent of GDP Dec 2022
Government Budget -7.00 -5.20 percent of GDP Dec 2022
Government Budget Value -19455.00 -10444.00 KRW Billion Nov 2023
Government Spending 88749.90 88352.60 KRW Billion Dec 2023
Government Revenues 501462.00 468163.00 KRW Billion Nov 2023
Fiscal Expenditure 520917.00 478607.00 KRW Billion Nov 2023
Credit Rating 86.00 Feb 2024
Military Expenditure 46365.40 50873.80 USD Million Dec 2022
Asylum Applications 11539.00 2341.00 Persons Dec 2022
Government Spending to GDP 37.75 38.10 percent of GDP Dec 2021
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South Korea Government Debt to GDP
Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields.
Actual Previous Highest Lowest Dates Unit Frequency
49.60 46.90 49.60 8.24 1990 - 2022 percent of GDP Yearly