India vs South Korea: Economic Indicators Comparison

India with a GDP of $2.7T ranked the 7th largest economy in the world, while South Korea ranked 12th with $1.6T. By GDP 5-years average growth and GDP per capita, India and South Korea ranked 6th vs 93rd and 150th vs 33rd, respectively.

Gross Domestic Product & Income

StatIndiaSouth Korea
GDP$2.7T$1.6T
GDP growth, 1 year7.1%2.7%
GDP growth, 5-years average7.6%3%
Population1.3B51.5M
GDP per capita$2k$31k
GDP per capita growth5.71%2.33%
Purchasing Power Parity conversion factor18.1860.51
Price level ratio of PPP conversion factor GDP to market exchange rate0.260.78
GDP per capita, PPP adjusted$7.9k$41k
GNI, Atlas method$2.7T$1.6T
GNI per capita$2k$31k
GNI, PPP adjusted$10.4T$2.1T
GNI per capita, PPP adjusted$7.7k$40k

Financial system and Human development

StatIndiaSouth Korea
Income Tax Rate30.9%42%
Corporate Tax Rate32.4%25%
Inflation, consumer prices3.5%1.5%
Inflation, GDP deflator4.1%0.3%
Unemployment2.6%3.8%
Economic Freedom Index56.574
Personal Freedom Index6.968.84
Human Freedom Index6.88.15
Property Rights Index6382.5
Judical Effectiveness Index64.161
Business Freedom Index65.690.5
Fiscal Health Index13.196.7
Labor Freedom Index41.256.2
Investment Freedom Index4070
Financial Freedom Index4070
Trade Freedom Index73.480
Monetary Freedom Index7382.1
Government Spending Index77.967.7
Tax Burden Index79.463.9
Government Integrity Index47.267.5
Corruption Perceptions Index4157
Life expectancy at birth, years69.282.6
Suicide mortality rate, per 100,000 people16.326.9
Mortality caused by road traffic injury, per 100,000 people22.69.8
Intentional homicides, per 100,000 people3.20.6
International tourism, number of arrivals17.4M15.3M

Government debt & reserves

StatIndiaSouth Korea
Central government debt, % of GDP69.8%40.7%
External debt stocks, % of GNI19.3%N/A
External debt stocks$521.4BN/A
Short-term debt, % of total reserves26.1%N/A
Total debt service, % of exports and primary income11.4%N/A
Adjusted net savings including particulate emission damage, % of GNI16.3%20.1%
Gross savings, % of GDP30.9%34.7%
Gross capital formation, % of GDP31.3%30.2%
Total reserves including gold$399.2B$403.1B
Foreign direct investment net inflows$42.1B$14.5B

Exports, imports and economic structure

StatIndiaSouth Korea
Exports of goods and services, % of GDP19.7%44%
Imports of goods and services, % of GDP23.6%39%
Current account balance (balance of payments)-$65.6B$76.4B
Revenue excluding grants, % of GDP12.9%27.8%
Grants excluding technical cooperation, BoP$689.4M$6.7M
Personal remittances received$78.8B$7.1B
Industry including construction value added, % of GDP26.7%35.1%
Agriculture, forestry and fishing value added, % of GDP14.6%2%
Charges for the use of intellectual property, payments BoP$7.9B$9.9B
Charges for the use of intellectual property, receipts BoP$784.9M$7.8B
Expense, % of GDP14.9%25.4%
Government Expenditure, % of GDP27.1%32.8%

Compare with countries close by GDP per capita

India vs

CountryGDP
per capita
Population
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M
Honduras
$2.5k
9.27M
Ghana
$2.2k
26.9M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
16.5M
Solomon Islands
$2.1k
611k
East Timor
$2k
1.3M
Syria
$2k
18.3M
Nicaragua
$2k
6.22M
Nigeria
$2k
191M
Sao Tome and Principe
$2k
204k
Ivory Coast
$1.7k
24.3M
Kenya
$1.7k
48.5M
North Korea
$1.7k
25.5M
Bangladesh
$1.7k
165M
Kiribati
$1.6k
116k
Zambia
$1.5k
17.1M
Cameroon
$1.5k
24.1M
Uzbekistan
$1.5k
32.4M
Senegal
$1.5k
15.9M
Cambodia
$1.5k
16M
Pakistan
$1.5k
197M
Comoros
$1.4k
824k
Myanmar
$1.3k
53.4M
Lesotho
$1.3k
2.23M

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k
Spain
$30k
46.7M
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k