Korea - Net incurrence of liabilities
Net incurrence of liabilities, total (current LCU)
The value for Net incurrence of liabilities, total (current LCU) in Korea was 54,557,000,000,000 as of 2019. As the graph below shows, over the past 47 years this indicator reached a maximum value of 57,161,100,000,000 in 2009 and a minimum value of -27,551,100,000,000 in 2003.
Definition: Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets.
Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.
| Year | Value |
|---|---|
| 1972 | 157,000,000,000 |
| 1973 | 74,000,000,000 |
| 1974 | 179,000,000,000 |
| 1975 | 265,000,000,000 |
| 1976 | 369,000,000,000 |
| 1977 | 390,000,000,000 |
| 1978 | 574,000,000,000 |
| 1979 | 594,000,000,000 |
| 1980 | 655,000,000,000 |
| 1981 | 1,879,000,000,000 |
| 1982 | 1,850,000,000,000 |
| 1983 | 1,009,000,000,000 |
| 1984 | 1,028,000,000,000 |
| 1985 | 636,000,000,000 |
| 1986 | 313,000,000,000 |
| 1987 | 813,000,000,000 |
| 1988 | -21,000,000,000 |
| 1989 | 12,000,000,000 |
| 1990 | 610,000,000,000 |
| 1991 | 1,364,000,000,000 |
| 1992 | 429,000,000,000 |
| 1993 | -489,000,000,000 |
| 1994 | 1,002,000,000,000 |
| 1995 | -1,634,000,000,000 |
| 1996 | -304,000,000,000 |
| 1997 | 5,674,000,000,000 |
| 1998 | 17,447,300,000,000 |
| 1999 | 15,090,400,000,000 |
| 2000 | -5,923,100,000,000 |
| 2001 | -14,727,800,000,000 |
| 2002 | -24,499,600,000,000 |
| 2003 | -27,551,100,000,000 |
| 2004 | -14,889,000,000,000 |
| 2005 | -3,665,100,000,000 |
| 2006 | -5,525,300,000,000 |
| 2007 | -24,128,600,000,000 |
| 2008 | 41,511,700,000,000 |
| 2009 | 57,161,100,000,000 |
| 2010 | 16,054,900,000,000 |
| 2011 | 15,014,900,000,000 |
| 2012 | 35,754,900,000,000 |
| 2013 | 55,096,400,000,000 |
| 2014 | 44,360,300,000,000 |
| 2015 | 47,623,500,000,000 |
| 2016 | 36,501,200,000,000 |
| 2017 | 25,036,500,000,000 |
| 2018 | 20,140,800,000,000 |
| 2019 | 54,557,000,000,000 |
Net incurrence of liabilities, total (% of GDP)
Net incurrence of liabilities, total (% of GDP) in Korea was 2.83 as of 2019. Its highest value over the past 47 years was 4.74 in 2009, while its lowest value was -3.29 in 2003.
Definition: Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets.
Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.
See also:
| Year | Value |
|---|---|
| 1972 | 3.68 |
| 1973 | 1.34 |
| 1974 | 2.26 |
| 1975 | 2.51 |
| 1976 | 2.55 |
| 1977 | 2.10 |
| 1978 | 2.28 |
| 1979 | 1.83 |
| 1980 | 1.65 |
| 1981 | 3.78 |
| 1982 | 3.23 |
| 1983 | 1.48 |
| 1984 | 1.31 |
| 1985 | 0.72 |
| 1986 | 0.30 |
| 1987 | 0.67 |
| 1988 | -0.01 |
| 1989 | 0.01 |
| 1990 | 0.30 |
| 1991 | 0.56 |
| 1992 | 0.15 |
| 1993 | -0.16 |
| 1994 | 0.27 |
| 1995 | -0.37 |
| 1996 | -0.06 |
| 1997 | 1.05 |
| 1998 | 3.25 |
| 1999 | 2.55 |
| 2000 | -0.91 |
| 2001 | -2.08 |
| 2002 | -3.12 |
| 2003 | -3.29 |
| 2004 | -1.64 |
| 2005 | -0.38 |
| 2006 | -0.55 |
| 2007 | -2.21 |
| 2008 | 3.60 |
| 2009 | 4.74 |
| 2010 | 1.21 |
| 2011 | 1.08 |
| 2012 | 2.48 |
| 2013 | 3.67 |
| 2014 | 2.84 |
| 2015 | 2.87 |
| 2016 | 2.10 |
| 2017 | 1.36 |
| 2018 | 1.06 |
| 2019 | 2.83 |
Classification
Topic: Public Sector Indicators
Sub-Topic: Government finance
