Government Consumption in Korea
The economy of Korea recorded an average growth rate of 4.8% in the decade to 2022. In 2022, the growth rate was 4.0%.
Korea Government Consumption Chart
Note: This chart displays Government Consumption (ann. var. %) for Korea from 2014 to 2023.
Source: Macrobond.
Korea Government Consumption Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Government Consumption (ann. var. %) | 6.4 | 5.2 | 5.6 | 4.0 | 1.3 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Korean government consumption projections for the next ten years from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable government consumption forecast available for Korean government consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Korean government consumption projections.
Want to get access to the full dataset of Korean government consumption forecasts? Send an email to info@focus-economics.com.