– Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP).
South Korea Tax Revenue as Percentage of GDP was 13.29 Percentage in 2024, down 8.9% on 2023. The Tax Revenue as a Percentage of GDP dataset for South Korea provides a comprehensive overview of the country's tax collection performance relative to economic output, offering valuable insights into fiscal capacity, government revenue generation, and public finance sustainability. Measured as a Percentage, the dataset covers 2015–2024 and indicates an overall upward trend with notable fluctuations in recent years.
South Korea Tax Revenue as Percentage of GDP moved from 12.53 Percentage in 2015 to 13.29 Percentage in 2024 (+6.1%), an average of +0.7% a year. The series high was 17.16 Percentage in 2022 and the low 12.53 Percentage in 2015.
The gap between the series high (2022) and low (2015) is 4.63 Percentage. The sharpest single-year move was −14.9% in 2023.
Among the 27 countries in this dataset, South Korea ranks 20 for 2024, behind Denmark (33.36 Percentage) and Sweden (27.23 Percentage). It accounts for 96.2% of the global total in 2024.
Full series
Complete annual series with year-on-year change. Values are reported in Percentage.
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| Year | Percentage | Change vs prior year |
|---|---|---|
| 2024 | 13.29 | −8.9% |
| 2023 | 14.60 | −14.9% |
| 2022Peak | 17.16 | +9.5% |
| 2021 | 15.67 | +11.8% |
| 2020 | 14.01 | −2.3% |
| 2019 | 14.33 | −2.4% |
| 2018 | 14.69 | +6.8% |
| 2017 | 13.76 | +3.6% |
| 2016 | 13.28 | +6% |
| 2015 Trough | 12.53 | — |
Regional context
Tax Revenue as Percentage of GDP by country, 2024, Percentage. South Korea is highlighted.
Data definition
Tax Revenue as Percentage of GDP — – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
The data includes compulsory tax payments collected by the central government, such as taxes on income, profits and capital gains, payroll taxes, property taxes, taxes on goods and services (including VAT, GST, and excise duties), taxes on international trade, customs duties, and other taxes recorded under the IMF Government Finance Statistics (GFS) framework. The indicator is expressed as a percentage of GDP using standardized national accounts and government finance statistics.
The data excludes non-tax government revenue such as grants, fees, licenses, administrative charges, dividends from state-owned enterprises, and income from government assets. It also excludes fines, penalties, most social security contributions, refunds treated as negative revenue, and informal or unrecorded tax collections not captured in official government finance statistics. For many countries, the indicator reflects central government tax revenue only and may not include taxes collected by state, provincial, or local governments.
Tax Revenue as Percentage of GDP — – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
Tax revenue increased from 12.53% of GDP in 2015 to 14.69% in 2018, remained above 14% through 2020, rose significantly to 15.67% in 2021, and reached a decade high of 17.16% in 2022. The ratio subsequently declined to 14.60% in 2023 and 13.29% in 2024, though it remained above the 2015 level.
The year-wise trend reflects South Korea's strong fiscal framework, effective tax administration, and economic resilience. The sharp increase between 2021 and 2022 indicates robust revenue mobilization during the post-pandemic recovery period, while the moderation in the final two years suggests normalization in tax collections amid evolving economic and fiscal conditions.
This dataset is an important resource for policymakers, economists, financial institutions, investors, researchers, and international organizations evaluating fiscal sustainability, taxation efficiency, and macroeconomic performance. It supports benchmarking South Korea against regional and global economies, assessing the effectiveness of tax policy reforms, monitoring long-term fiscal trends, forecasting future government revenue, and analyzing the relationship between taxation, economic growth, and public expenditure. The data also contributes to research on public finance, fiscal resilience, economic competitiveness, and sustainable development.
Overall, the 2015–2024 dataset highlights South Korea's generally strengthening tax revenue performance relative to GDP despite recent moderation. It provides a reliable foundation for fiscal analysis, policy development, investment planning, and long-term economic forecasting while supporting evidence-based decision-making in government finance and economic management.
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Definition – Tax Revenue (% of GDP) refers to the total tax revenue collected by the central government, expressed as a percentage of Gross Domestic Product (GDP). Tax revenue consists of compulsory, unrequited payments made by individuals and businesses to the government for public purposes. The indicator measures the relative size of tax collections compared with the overall economy and is widely used to assess a government's revenue-generating capacity, fiscal performance, and tax effort.
South Korea Tax Revenue as Percentage of GDP was 13.29 Percentage in 2024, down 8.9% on 2023.
South Korea Tax Revenue as Percentage of GDP moved from 12.53 Percentage in 2015 to 13.29 Percentage in 2024 (+6.1%), an average of +0.7% a year. The series high was 17.16 Percentage in 2022 and the low 12.53 Percentage in 2015.
The highest value was 17.16 Percentage in 2022 and the lowest was 12.53 Percentage in 2015.
Included: The data includes compulsory tax payments collected by the central government, such as taxes on income, profits and capital gains, payroll taxes, property taxes, taxes on goods and services (including VAT, GST, and excise duties), taxes on international trade, customs duties, and other taxes recorded under the IMF Government Finance Statistics (GFS) framework. The indicator is expressed as a percentage of GDP using standardized national accounts and government finance statistics. Excluded: The data excludes non-tax government revenue such as grants, fees, licenses, administrative charges, dividends from state-owned enterprises, and income from government assets. It also excludes fines, penalties, most social security contributions, refunds treated as negative revenue, and informal or unrecorded tax collections not captured in official government finance statistics. For many countries, the indicator reflects central government tax revenue only and may not include taxes collected by state, provincial, or local governments.
The series is sourced from data.worldbank.org (https://data.worldbank.org/indicator/GC.TAX.TOTL.GD.ZS). It covers 2015–2024 and is reported in Percentage.
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