Government balance in South Korea

Government balance in South Korea was -1.5% of GDP in 2024, according to the Organisation for Economic Co-operation and Development. That is down 0.6 pts from 2023. That is the 13th highest of 38 countries in 2024.

2024, % of GDP-1.5 Estimated

Change on 2023-0.6 pts

Rank13th of 38Countries ranked

Series high42000

Series low-41975

Government balance in South Korea, 1970 to 2024

% of GDP. Source: OECD, OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13). Retrieved 2026-10-12, published 2026-10-12.

All 55 values

Period	% of GDP
2024	-1.5 Estimated
2023	-0.9
2022	-0
2021	-0.3
2020	-2.6
2019	0.9
2018	2.9
2017	2.5
2016	2.1
2015	1.1
2014	1.1
2013	1.2
2012	0.9
2011	0.9
2010	0.8
2009	-1.3
2008	2
2007	3.8
2006	1.9
2005	1.3
2004	-0.1
2003	-2.1
2002	3
2001	2.8
2000	4
1999	1.3
1998	0.2
1997	2.2
1996	2.9
1995	2.7
1994	2.4
1993	1.4
1992	0.9
1991	1
1990	2.4
1989	2.1
1988	2.5
1987	2
1986	1.1
1985	0.6
1984	1.1
1983	0.7
1982	-0.7
1981	-3.5
1980	-1.3
1979	-0.2
1978	-0.4
1977	-1.9
1976	-1.1
1975	-4
1974	-1.7
1973	-2.3
1972	-2.5
1971	-1
1970	-0

Rankings

Countries by government balance as a share of GDP 47 places
EU countries by government balance as a share of GDP 27 places

Definition

General government net lending (+) or net borrowing (-) as a percentage of GDP.

How to cite

OECD. OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13). https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD. Accessed 2026-10-12. Data reuse terms and downstream attribution: https://www.oecd.org/en/about/terms-conditions.html

Citation styles

The publisher is the author. Invokely is named only as the place the figures were read, where a style asks for it.

APA 7

Organisation for Economic Co-operation and Development. (2026). OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13) (Government balance, South Korea, 1970 to 2024) [Data set]. Retrieved October 12, 2026, from https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD

MLA 9

OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13), Government balance, South Korea, 1970 to 2024. Organisation for Economic Co-operation and Development, 12 Oct. 2026, https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD. Invokely, https://invokely.ai/en/government-balance/south-korea. Accessed 12 Oct. 2026.

Chicago (author-date)

Organisation for Economic Co-operation and Development. 2026. OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13). Government balance, South Korea, 1970 to 2024. Dataset. Accessed October 12, 2026. https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD. Also distributed by Invokely, https://invokely.ai/en/government-balance/south-korea.

Harvard

Organisation for Economic Co-operation and Development (2026) OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13), Government balance, South Korea, 1970 to 2024 [Dataset]. Available at: https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD, via Invokely: https://invokely.ai/en/government-balance/south-korea (Accessed: 12 October 2026).

BibTeX

@misc{organisation_government_balance_south_korea_2024,
  author = {{Organisation for Economic Co-operation and Development}},
  title = {{OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD\_NAAG\_VI@DF\_NAAG\_VI, B9S13): Government balance, South Korea, 1970 to 2024}},
  year = {2026},
  howpublished = {Data set},
  url = {https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/en/government-balance/south-korea. Publisher attribution: OECD. OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD\_NAAG\_VI@DF\_NAAG\_VI, B9S13). https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ\&df[id]=DSD\_NAAG\_VI\%40DF\_NAAG\_VI\&df[ag]=OECD.SDD.NAD. Accessed 2026-10-12. Data reuse terms and downstream attribution: https://www.oecd.org/en/about/terms-conditions.html.},
}

RIS

TY  - DATA
AU  - Organisation for Economic Co-operation and Development
TI  - OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13): Government balance, South Korea, 1970 to 2024
PY  - 2026
DA  - 2026/10/12
PB  - Organisation for Economic Co-operation and Development
DB  - Invokely
UR  - https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD
L2  - https://invokely.ai/en/government-balance/south-korea
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/en/government-balance/south-korea.
N1  - Publisher attribution: OECD. OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13). https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD. Accessed 2026-10-12. Data reuse terms and downstream attribution: https://www.oecd.org/en/about/terms-conditions.html.
ER  -

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Questions

What is the government balance as a share of GDP in South Korea?

Where does this figure come from?

Organisation for Economic Co-operation and Development. OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13). Retrieved by Invokely on 2026-10-12.

What was the highest government balance as a share of GDP in South Korea?

4% of GDP in 2000, the highest value since 1970 in this series.

Government balance in other countries

Related statistics for South Korea

All statistics for South Korea | South Korea in figures