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South Korea: Government deficit (% of GDP)

Percent of GDP · 1953–2024 · 72 observations · forecasts to 2031 · 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)

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 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

This series is derived from other GMD variables.

South Korea documentation (PDF)

More for South Korea

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

Government deficit (% of GDP) elsewhere

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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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