Government Spending in South Korea increased to 62531.40 KRW Billion in the first quarter of 2019 from 62355.80 KRW Billion in the fourth quarter of 2018. Government Spending in South Korea averaged 21806.30 KRW Billion from 1960 until 2019, reaching an all time high of 62531.40 KRW Billion in the first quarter of 2019 and a record low of 2742.81 KRW Billion in the third quarter of 1961.

Government Spending in South Korea is expected to be 60112.00 KRW Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Spending in South Korea to stand at 63603.00 in 12 months time. In the long-term, the South Korea Government Spending is projected to trend around 65912.00 KRW Billion in 2020, according to our econometric models.

South Korea Government Spending
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South Korea Government Last Previous Highest Lowest Unit
Government Debt to GDP 36.60 36.30 39.90 8.24 percent [+]
Government Budget -1.60 -1.10 3.47 -4.10 percent of GDP [+]
Government Budget Value -17321.00 -11804.00 42914.00 -28619.00 KRW Billion [+]
Government Spending 62531.40 62355.80 62531.40 2742.81 KRW Billion [+]
Government Revenues 114056.00 73087.00 408637.00 14987.00 KRW Billion [+]
Fiscal Expenditure 131377.00 84891.00 379809.00 7012.00 KRW Billion [+]
Credit Rating 84.40 [+]
Government Spending To GDP 32.26 32.30 34.90 18.60 percent [+]
Military Expenditure 41157.00 39171.00 41157.00 190.00 USD Million [+]
Asylum Applications 839.00 1059.00 2260.00 1.00 Persons [+]


South Korea Government Spending

Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth. This page provides - South Korea Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Government Spending - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
62531.40 62355.80 62531.40 2742.81 1960 - 2019 KRW Billion Quarterly
Constant Prices, SA




Country Last Previous
Argentina 100173.00 Dec/18
Australia 89290.00 Dec/18
Brazil 115516.82 Mar/19
Canada 417805.00 Dec/18
China 220906.00 Dec/18
Euro Area 545.63 Dec/18
France 136745.00 Mar/19
Germany 143.22 Mar/19
India 3410.32 Dec/18
Indonesia 153652.73 Mar/19
Italy 78024.10 Dec/18
Japan 107612.10 Mar/19
Mexico 2193603.00 Dec/18
Netherlands 45186.00 Mar/19
Russia 4067.40 Dec/18
Saudi Arabia 195776.00 Dec/18
Singapore 12422.70 Mar/19
South Africa 643445.00 Dec/18
South Korea 62531.40 Mar/19
Spain 56820.00 Mar/19
Switzerland 19877.18 Dec/18
Turkey 69495065.30 Dec/18
United Kingdom 94208.00 Mar/19
United States 3207.68 Mar/19


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