In 2023, South Korea's national debt accounted for approximately 50.4 percent of the country's gross domestic product (GDP), which was an increase from about 49.4 percent in the previous year. The debt-to-GDP ratio of South Korea has been slowly but steadily increasing over the years. With the implementation of emergency relief funds and increased government spending during the COVID-19 outbreak in 2020, it was expected that the debt ratio would continue to grow in the future.
South Korea's national debt in relation to gross domestic product (GDP) from 2000 to 2023, with projections until 2027
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Statistics Korea. (September 8, 2023). South Korea's national debt in relation to gross domestic product (GDP) from 2000 to 2023, with projections until 2027 [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/631543/south-korea-national-debtgdp/
Statistics Korea. "South Korea's national debt in relation to gross domestic product (GDP) from 2000 to 2023, with projections until 2027." Chart. September 8, 2023. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/631543/south-korea-national-debtgdp/
Statistics Korea. (2023). South Korea's national debt in relation to gross domestic product (GDP) from 2000 to 2023, with projections until 2027. Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/631543/south-korea-national-debtgdp/
Statistics Korea. "South Korea's National Debt in Relation to Gross Domestic Product (Gdp) from 2000 to 2023, with Projections until 2027." Statista, Statista Inc., 8 Sep 2023, https://www.statista.com/statistics/631543/south-korea-national-debtgdp/
Statistics Korea, South Korea's national debt in relation to gross domestic product (GDP) from 2000 to 2023, with projections until 2027 Statista, https://www.statista.com/statistics/631543/south-korea-national-debtgdp/ (last visited July 27, 2024)
South Korea's national debt in relation to gross domestic product (GDP) from 2000 to 2023, with projections until 2027 [Graph], Statistics Korea, September 8, 2023. [Online]. Available: https://www.statista.com/statistics/631543/south-korea-national-debtgdp/