Korea, Rep. | Goods and services expense (% of expense)

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 (% of expense)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 24.65960666
1973 28.96
1974 32.54861822
1975 31.87114462
1976 31.26185958
1977 34.12228797
1978 37.76673487
1979 28.50221192
1980 32.03085695
1981 32.40427547
1982 29.76856422
1983 30.50285122
1984 27.91864029
1985 28.80829862
1986 28.81654201
1987 28.63078621
1988 27.38789238
1989 25.19438693
1990 23.47986312
1991 23.22590738
1992 22.39018365
1993 21.34807004
1994 19.25738946
1995 15.57776609
1996 15.3863895
1997 15.62972702
1998 14.24489269
1999 11.06332232
2000 13.51763645
2001 11.97831279
2002 12.232379
2003 10.13362844
2004 10.04328164
2005 9.74491258
2006 9.78515016
2007 6.49970961
2008 6.83464444
2009 10.84543638
2010 11.09575004
2011 10.91197992
2012 12.03543914
2013 13.16624432
2014 13.3526945
2015 14.76198555
2016 14.80315474
2017 13.89815427
2018 11.60018822
2019 10.9275489
2020 10.88481015
2021 12.02789914
2022

Korea, Rep. | Goods and services expense (% of expense)

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