Korea, Rep. | Goods and services expense (current LCU)

Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Own-account capital formation is excluded. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source
Korea, Rep. | Goods and services expense (current LCU)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 163000000000
1973 181000000000
1974 318000000000
1975 465000000000
1976 659000000000
1977 865000000000
1978 1292000000000
1979 1353000000000
1980 1910000000000
1981 2395000000000
1982 2714000000000
1983 2942000000000
1984 3006000000000
1985 3527000000000
1986 3930000000000
1987 4410000000000
1988 4886000000000
1989 5476000000000
1990 6244000000000
1991 7423000000000
1992 8339000000000
1993 8827000000000
1994 9460000000000
1995 8884000000000
1996 10007000000000
1997 11056000000000
1998 11688940000000
1999 9714343000000
2000 13557180000000
2001 13830397000000
2002 14820797000000
2003 14680950000000
2004 15664350000000
2005 16626000000000
2006 18255000000000
2007 12763411000000
2008 14449840000000
2009 25232958000000
2010 25868447000000
2011 27486680000000
2012 42695600000000
2013 47488800000000
2014 49291008046499
2015 57491959802631
2016 60568941995075
2017 61136039517281
2018 54867998403575
2019 57858814758831
2020 62794348173007
2021 76290292155304
2022

Korea, Rep. | Goods and services expense (current LCU)

Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Own-account capital formation is excluded. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source