In 2023, South Korea's national debt accounted for approximately 46.9 percent of the country's gross domestic product (GDP), which was a slight increase from about 45.9 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 1997 to 2023, with projections until 2027
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Statistics Korea. (September 11, 2024). South Korea's national debt in relation to gross domestic product (GDP) from 1997 to 2023, with projections until 2027 [Graph]. In Statista. Retrieved November 22, 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 1997 to 2023, with projections until 2027." Chart. September 11, 2024. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/631543/south-korea-national-debtgdp/
Statistics Korea. (2024). South Korea's national debt in relation to gross domestic product (GDP) from 1997 to 2023, with projections until 2027. Statista. Statista Inc.. Accessed: November 22, 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 1997 to 2023, with Projections until 2027." Statista, Statista Inc., 11 Sep 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 1997 to 2023, with projections until 2027 Statista, https://www.statista.com/statistics/631543/south-korea-national-debtgdp/ (last visited November 22, 2024)
South Korea's national debt in relation to gross domestic product (GDP) from 1997 to 2023, with projections until 2027 [Graph], Statistics Korea, September 11, 2024. [Online]. Available: https://www.statista.com/statistics/631543/south-korea-national-debtgdp/
