South Korea: Central government deficit (% of GDP)

Name: South Korea: Central government deficit (% of GDP)
Creator: Global Macro Database
License: https://www.globalmacrodata.com/license.html

Percent of GDP · 1954–2024 · 71 observations · forecasts to 2026 · cgovdef_GDP

2024: −1.79%percent of GDP
Change on 2023: −0.8 pointsfrom −1.02%
Average, 2015–2024: −0.0571%10 years
Record high and low: 3.61% (2007)low −7.39% (1954)

Central government deficit (% of GDP)

Report error

ForecastPercent of GDP

Compare with other countries →Definition of Central government deficit (% of GDP)

Recent values

Percent of GDP

Year	Value
2026	-1.89	Forecast
2025	-0.815	Forecast
2024	-1.79
2023	-1.02
2022	-1.75
2021	-0.723
2020	-1.92
2019	0.0352
2018	2.28
2017	1.79
2016	1.78
2015	0.728

Sources

Cha et al.1954–2011
Mitchell1957–2009
World Development Indicators1972–2024
IMF Government Finance Statistics2012–2024
Min. of Economy and Finance, Korea2017–2024
Country source 3 (forecast)2025–2026

Compare these sources →

South Korea documentation (PDF)

Please cite: Müller, K., Xu, C., Lehbib, M., & Chen, Z. (2025). The Global Macro Database: A New International Macroeconomic Dataset. NBER Working Paper 33714. BibTeX →

GMD release 2026_09 · License & terms

Central government deficit (% of GDP)

Recent values

Sources

More for South Korea

Central government deficit (% of GDP) elsewhere