Grenada vs South Korea: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Grenada ranked 183rd with $1.2B. By GDP per capita, South Korea and Grenada ranked 33rd vs 70th, respectively.
Gross Domestic Product & Income
| Stat |  Grenada |  South Korea |
|---|---|---|
| GDP | $1.2B | $1.6T |
| GDP growth, 1 year | 4.18% | 2.7% |
| GDP growth, 5-years average | N/A | 3% |
| Population | 108k | 51.5M |
| GDP per capita | $11k | $31k |
| GDP per capita growth | 3.64% | 2.33% |
| Purchasing Power Parity conversion factor | 1.85 | 860.51 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.68 | 0.78 |
| GDP per capita, PPP adjusted | $16k | $41k |
| GNI, Atlas method | $1.1B | $1.6T |
| GNI per capita | $9.7k | $31k |
| GNI, PPP adjusted | $1.6B | $2.1T |
| GNI per capita, PPP adjusted | $14k | $40k |
Financial system and Human development
| Stat | Grenada | South Korea |
|---|---|---|
| Income Tax Rate | N/A | 42% |
| Corporate Tax Rate | N/A | 25% |
| Inflation, consumer prices | 0.8% | 1.5% |
| Inflation, GDP deflator | 1% | 0.3% |
| Unemployment | 22.9% | 3.8% |
| Economic Freedom Index | 63 | 74 |
| Personal Freedom Index | 6 | 8.84 |
| Human Freedom Index | 6 | 8.15 |
| Property Rights Index | N/A | 82.5 |
| Judical Effectiveness Index | N/A | 61 |
| Business Freedom Index | N/A | 90.5 |
| Fiscal Health Index | N/A | 96.7 |
| Labor Freedom Index | N/A | 56.2 |
| Investment Freedom Index | N/A | 70 |
| Financial Freedom Index | N/A | 70 |
| Trade Freedom Index | N/A | 80 |
| Monetary Freedom Index | N/A | 82.1 |
| Government Spending Index | N/A | 67.7 |
| Tax Burden Index | N/A | 63.9 |
| Government Integrity Index | N/A | 67.5 |
| Corruption Perceptions Index | 52 | 57 |
| Life expectancy at birth, years | 72.4 | 82.6 |
| Suicide mortality rate, per 100,000 people | 1.7 | 26.9 |
| Mortality caused by road traffic injury, per 100,000 people | 9.3 | 9.8 |
| Intentional homicides, per 100,000 people | 11.1 | 0.6 |
| International tourism, number of arrivals | 185k | 15.3M |
Government debt & reserves
| Stat | Grenada | South Korea |
|---|---|---|
| Central government debt, % of GDP | N/A | 40.7% |
| External debt stocks, % of GNI | 58.8% | N/A |
| External debt stocks | $644.9M | N/A |
| Short-term debt, % of total reserves | 50.4% | N/A |
| Total debt service, % of exports and primary income | 8.4% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | N/A | 20.1% |
| Gross savings, % of GDP | N/A | 34.7% |
| Gross capital formation, % of GDP | N/A | 30.2% |
| Total reserves including gold | $233.8M | $403.1B |
| Foreign direct investment net inflows | $153.7M | $14.5B |
Exports, imports and economic structure
| Stat | Grenada | South Korea |
|---|---|---|
| Exports of goods and services, % of GDP | 54.2% | 44% |
| Imports of goods and services, % of GDP | 55.2% | 39% |
| Current account balance (balance of payments) | -$116.3M | $76.4B |
| Revenue excluding grants, % of GDP | N/A | 27.8% |
| Grants excluding technical cooperation, BoP | $250k | $6.7M |
| Personal remittances received | $48.5M | $7.1B |
| Industry including construction value added, % of GDP | 13.3% | 35.1% |
| Agriculture, forestry and fishing value added, % of GDP | 5.2% | 2% |
| Charges for the use of intellectual property, payments BoP | $9.3M | $9.9B |
| Charges for the use of intellectual property, receipts BoP | $56k | $7.8B |
| Expense, % of GDP | N/A | 25.4% |
| Government Expenditure, % of GDP | N/A | 32.8% |
