Share of Government Consumption at Current Purchasing Power Parities for Republic of Korea
CSHGCPKRA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.17
Year-over-Year Change
46.28%
Date Range
1/1/1953 - 1/1/2019
Summary
The Share of Government Consumption at Current Purchasing Power Parities for Republic of Korea measures the proportion of total Korean economic output spent on government consumption. This metric is crucial for understanding the role of the public sector in the Korean economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator tracks the ratio of government consumption to total GDP in Korea, adjusted for purchasing power differences. It provides insight into the size and influence of the public sector compared to the private economy.
Methodology
The data is calculated by the OECD using national accounts statistics and purchasing power parity exchange rates.
Historical Context
Policymakers and analysts use this metric to evaluate the fiscal position and economic structure of the Korean economy.
Key Facts
- Korea's government consumption share was 15.4% in 2021.
- The indicator has trended upward over the past decade.
- Government consumption makes up a smaller portion of GDP in Korea compared to other OECD countries.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the proportion of Korea's total economic output that is consumed by the government sector.
Q: Why is this trend relevant for users or analysts?
A: The government consumption share provides insight into the role of the public sector in the Korean economy and is used to assess fiscal conditions and economic structure.
Q: How is this data collected or calculated?
A: The OECD calculates this metric using national accounts data and purchasing power parity exchange rates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to evaluate the fiscal position and economic structure of the Korean economy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture short-term fluctuations in government spending.
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Citation
U.S. Federal Reserve, Share of Government Consumption at Current Purchasing Power Parities for Republic of Korea (CSHGCPKRA156NRUG), retrieved from FRED.