Korea - Net taxes on products (current LCU)
The value for Net taxes on products (current LCU) in Korea was 163,619,000,000,000 as of 2020. As the graph below shows, over the past 60 years this indicator reached a maximum value of 163,619,000,000,000 in 2020 and a minimum value of 17,600,000,000 in 1960.
Definition: Net taxes on products (net indirect taxes) are the sum of product taxes less subsidies. Product taxes are those taxes payable by producers that relate to the production, sale, purchase or use of the goods and services. Subsidies are grants on the current account made by general government to private enterprises and unincorporated public enterprises. The grants may take the form of payments to ensure a guaranteed price or to enable maintenance of prices of goods and services below costs of production, and other forms of assistance to producers. Data are in current local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1960 | 17,600,000,000 |
| 1961 | 17,950,000,000 |
| 1962 | 26,120,000,000 |
| 1963 | 28,910,000,000 |
| 1964 | 31,670,000,000 |
| 1965 | 44,850,000,000 |
| 1966 | 68,720,000,000 |
| 1967 | 95,410,000,000 |
| 1968 | 144,330,000,000 |
| 1969 | 192,350,000,000 |
| 1970 | 245,600,000,000 |
| 1971 | 289,500,000,000 |
| 1972 | 311,100,000,000 |
| 1973 | 407,000,000,000 |
| 1974 | 660,800,000,000 |
| 1975 | 975,000,000,000 |
| 1976 | 1,465,700,000,000 |
| 1977 | 1,937,200,000,000 |
| 1978 | 2,722,900,000,000 |
| 1979 | 3,468,800,000,000 |
| 1980 | 4,293,900,000,000 |
| 1981 | 5,297,600,000,000 |
| 1982 | 6,121,000,000,000 |
| 1983 | 7,733,600,000,000 |
| 1984 | 8,298,600,000,000 |
| 1985 | 8,891,100,000,000 |
| 1986 | 10,186,100,000,000 |
| 1987 | 11,829,300,000,000 |
| 1988 | 13,752,300,000,000 |
| 1989 | 14,884,800,000,000 |
| 1990 | 19,223,800,000,000 |
| 1991 | 21,530,100,000,000 |
| 1992 | 24,986,000,000,000 |
| 1993 | 27,574,400,000,000 |
| 1994 | 33,315,400,000,000 |
| 1995 | 38,977,300,000,000 |
| 1996 | 45,712,000,000,000 |
| 1997 | 50,784,700,000,000 |
| 1998 | 44,420,600,000,000 |
| 1999 | 55,797,700,000,000 |
| 2000 | 63,654,500,000,000 |
| 2001 | 71,616,200,000,000 |
| 2002 | 81,402,900,000,000 |
| 2003 | 84,179,200,000,000 |
| 2004 | 83,668,800,000,000 |
| 2005 | 89,528,700,000,000 |
| 2006 | 93,380,900,000,000 |
| 2007 | 100,076,000,000,000 |
| 2008 | 105,730,000,000,000 |
| 2009 | 106,740,000,000,000 |
| 2010 | 119,575,000,000,000 |
| 2011 | 120,698,000,000,000 |
| 2012 | 123,935,000,000,000 |
| 2013 | 123,660,000,000,000 |
| 2014 | 128,264,000,000,000 |
| 2015 | 137,113,000,000,000 |
| 2016 | 147,697,000,000,000 |
| 2017 | 156,680,000,000,000 |
| 2018 | 161,652,000,000,000 |
| 2019 | 161,865,000,000,000 |
| 2020 | 163,619,000,000,000 |
Periodicity: Annual
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: National accounts
