South Korea: General government deficit (% of GDP)

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

Percent of GDP · 1953–2025 · 72 observations · forecasts to 2031 · gen_govdef_GDP

2025: −2.50%percent of GDP
Change on 2024: −1.0 pointsfrom −1.47%
Average, 2016–2025: 0.0585%10 years
Record high and low: 3.99% (2000)low −10.6% (1955)

General government deficit (% of GDP)

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ForecastPercent of GDP

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Recent values

Percent of GDP

Year	Value
2031	-1.08	Forecast
2030	-1.09	Forecast
2029	-1.08	Forecast
2028	-1.28	Forecast
2027	-2.07	Forecast
2026	-2.14	Forecast
2025	-2.50
2024	-1.47
2023	-0.865
2022	-0.00804
2021	-0.315
2020	-2.58
2019	0.906
2018	2.85
2017	2.49
2016	2.07

Sources

IMF Fiscal Policy Panel1953–2023
OECD Economic Outlook1970–2025
IMF World Economic Outlook1995–2024
IMF Government Finance Statistics2007–2024
Asian Development Bank (archive)2012–2023
Asian Development Bank2012–2024
Min. of Economy and Finance, Korea2017–2024
IMF WEO (forecast)2024–2031
OECD Economic Outlook (forecast)2025–2027

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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

General government deficit (% of GDP)

Recent values

Sources

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General government deficit (% of GDP) elsewhere