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South Korea's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)

South Korea's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)

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TGM StatBox. (2024). South Korea's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029). TGM StatBox.
Chart Details
Data Source: International Monetary Fund (IMF)
Timeframe: 1990-2023
Country: South Korea
Published date: 2024
Note: Net lending/borrowing, also referred to as the overall balance, is a measure of a country's fiscal position, expressed as a percentage of its Gross Domestic Product (GDP). According to the International Monetary Fund (IMF), it indicates the difference between government revenues and expenditures, including any borrowing or lending to other sectors.
Key Takeaways
South Korea’s fiscal trends reflect its strong economic fundamentals. The late 1990s saw surpluses, peaking at 4% in 2000, supported by rapid industrialization and export-led growth. The 2008 financial crisis and the pandemic caused temporary deficits, with a peak of -2.2% in 2020.

Projections for 2029 suggest a modest surplus of 0.2%, underscoring South Korea’s resilience and prudent fiscal management, even amid global uncertainties.

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