Korea - General government final consumption expenditure (% of GDP)

General government final consumption expenditure (% of GDP) in Korea was 18.06 as of 2020. Its highest value over the past 60 years was 18.06 in 2020, while its lowest value was 8.21 in 1964.

Definition: General government final consumption expenditure (formerly general government consumption) includes all government current expenditures for purchases of goods and services (including compensation of employees). It also includes most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 14.24
1961 13.28
1962 13.57
1963 10.54
1964 8.21
1965 8.95
1966 9.68
1967 9.87
1968 10.15
1969 9.92
1970 9.89
1971 10.18
1972 10.47
1973 8.88
1974 9.61
1975 11.09
1976 10.81
1977 10.69
1978 9.91
1979 9.83
1980 11.91
1981 12.07
1982 11.78
1983 11.12
1984 10.55
1985 10.62
1986 10.26
1987 9.98
1988 9.92
1989 10.76
1990 10.97
1991 10.75
1992 11.06
1993 10.75
1994 10.28
1995 10.04
1996 10.39
1997 10.21
1998 11.40
1999 11.08
2000 10.90
2001 11.76
2002 11.74
2003 12.15
2004 12.39
2005 12.86
2006 13.37
2007 13.44
2008 14.05
2009 14.66
2010 14.20
2011 14.37
2012 14.69
2013 14.98
2014 15.23
2015 15.08
2016 15.24
2017 15.42
2018 16.05
2019 17.08
2020 18.06

Limitations and Exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total.

Statistical Concept and Methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts