Korea - Revenue, excluding grants (% of GDP)

Revenue, excluding grants (% of GDP) in Korea was 27.88 as of 2019. Its highest value over the past 47 years was 27.88 in 2019, while its lowest value was 11.92 in 1973.

Definition: Revenue is cash receipts from taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales. Grants are also considered as revenue but are excluded here.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1972 12.89
1973 11.92
1974 12.81
1975 14.58
1976 15.97
1977 15.79
1978 16.24
1979 16.59
1980 16.96
1981 17.18
1982 17.24
1983 16.77
1984 15.92
1985 15.59
1986 15.27
1987 15.21
1988 15.45
1989 15.38
1990 15.62
1991 14.83
1992 15.45
1993 15.81
1994 16.03
1995 16.22
1996 16.90
1997 16.74
1998 17.75
1999 17.92
2000 20.66
2001 20.07
2002 19.81
2003 20.09
2004 19.29
2005 19.69
2006 20.49
2007 21.66
2008 21.37
2009 20.37
2010 20.10
2011 20.69
2012 26.65
2013 26.12
2014 24.99
2015 24.81
2016 25.76
2017 26.18
2018 27.45
2019 27.88

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance