Korea, Rep.: Central government debt, total (% of GDP)
In , Korea, Rep.'s Central government debt, total (% of GDP) was 48.55.
That's up 2.0% from 2022, the highest value on record.
The global average for this indicator in 2023 was 64.67 .
Source: World Bank Open Data (GC.DOD.TOTL.GD.ZS) • Data as of 2023
Trend (2012–2023)
Highlights
- Peak
- 48.55
- Trough
- 31.02
- 1-year change
- +2.0%
- 5-year change
- +36.7%
- +6.5% / yr
- 10-year change
- +45.5%
- +3.8% / yr
Historical Data — Last 10 Years
| Year | Central government debt, total (% of GDP) |
|---|---|
| 48.5544 | |
| 47.6111 | |
| 45.8329 | |
| 43.7758 | |
| 37.6955 | |
| 35.5201 | |
| 35.4460 | |
| 36.1499 | |
| 35.7106 | |
| 34.8171 |
About Central government debt, total (% of GDP)
Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. Central government is the part of general government that includes all administrative departments of the national executive, legislative, and judicial functions, other central agencies and those non-market producers controlled by the central government, whose competence extends normally over the whole economic territory. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Indicator code: GC.DOD.TOTL.GD.ZS • Category: Public Sector
Frequently asked questions
- What was Korea, Rep.'s Central government debt, total (% of GDP) in 2023?
- In 2023, Korea, Rep.'s Central government debt, total (% of GDP) was 48.55, according to World Bank Open Data.
- Is Korea, Rep.'s Central government debt, total (% of GDP) rising or falling?
- Korea, Rep.'s Central government debt, total (% of GDP) rose 2.0% from 2022 to 2023.
- How does Korea, Rep.'s Central government debt, total (% of GDP) compare to the world average?
- The global average for Central government debt, total (% of GDP) in 2023 was 64.67, so Korea, Rep. is below the world average.
- What is Central government debt, total (% of GDP) and how is it measured?
- Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. Central government is the part of general government that includes all administrative departments of the national executive, legislative, and judicial functions, other central agencies and those non-market producers controlled by the central government, whose competence extends normally over the whole economic territory. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Source: World Bank Open Data (GC.DOD.TOTL.GD.ZS), CC BY 4.0.