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South Korea: General government deficit (% of GDP)

Percent of GDP · 1953–2024 · 71 observations · forecasts to 2031 · gen_govdef_GDP

2024
−3.14%percent of GDP
Change on 2023
−2.4 pointsfrom −0.707%
Average, 2015–2024
0.266%10 years
Record high and low
4.02% (2000)low −10.6% (1955)

General government deficit (% of GDP)

Report error
-12%-10%-8%-6%-4%-2%0%2%4%6%19601970198019902000201020202030South KoreaSouth Korea
ForecastPercent of GDP

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

Recent values

Percent of GDP

YearValue
2031-1.08Forecast
2030-1.09Forecast
2029-1.08Forecast
2028-1.28Forecast
2027-1.32Forecast
2026-2.15Forecast
2025-2.80Forecast
2024-3.14
2023-0.707
2022-0.00804
2021-0.315
2020-2.58
20190.906
20182.85
20172.49
20162.07
20151.09

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

Compare these sources →

South Korea documentation (PDF)

More for South Korea

Real GDP per capita (USD)Nominal GDPReal GDPInflationUnemployment rateGovernment debt (% of GDP)All 76 series →

General government deficit (% of GDP) elsewhere

United StatesChinaJapanGermanyUnited KingdomFrance

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 →

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