Libya vs South Korea: Economic Indicators Comparison

South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Libya ranked 86th with $48.4B. By GDP 5-years average growth and GDP per capita, South Korea and Libya ranked 93rd vs 144th and 33rd vs 91st, respectively.

Gross Domestic Product & Income

Stat	Libya	South Korea
GDP	$48.4B	$1.6T
GDP growth, 1 year	17.9%	2.7%
GDP growth, 5-years average	1.7%	3%
Population	6.7M	51.5M
GDP per capita	$7.2k	$31k
GDP per capita growth	6.37%	2.33%
Purchasing Power Parity conversion factor	0.48	860.51
Price level ratio of PPP conversion factor GDP to market exchange rate	0.35	0.78
GDP per capita, PPP adjusted	$11k	$41k
GNI, Atlas method	$42.8B	$1.6T
GNI per capita	$6.4k	$31k
GNI, PPP adjusted	$142.5B	$2.1T
GNI per capita, PPP adjusted	$21k	$40k

Financial system and Human development

Stat	Libya	South Korea
Income Tax Rate	10%	42%
Corporate Tax Rate	N/A	25%
Inflation, consumer prices	23.1%	1.5%
Inflation, GDP deflator	15.8%	0.3%
Unemployment	17.3%	3.8%
Economic Freedom Index	47	74
Personal Freedom Index	5.17	8.84
Human Freedom Index	4.98	8.15
Property Rights Index	30.1	82.5
Judical Effectiveness Index	20.8	61
Business Freedom Index	40.7	90.5
Fiscal Health Index	N/A	96.7
Labor Freedom Index	53.9	56.2
Investment Freedom Index	5	70
Financial Freedom Index	N/A	70
Trade Freedom Index	N/A	80
Monetary Freedom Index	53.6	82.1
Government Spending Index	0	67.7
Tax Burden Index	N/A	63.9
Government Integrity Index	18.9	67.5
Corruption Perceptions Index	17	57
Life expectancy at birth, years	72.5	82.6
Suicide mortality rate, per 100,000 people	5.2	26.9
Mortality caused by road traffic injury, per 100,000 people	26.1	9.8
Intentional homicides, per 100,000 people	2.5	0.6
International tourism, number of arrivals	142k	15.3M

Government debt & reserves

Stat	Libya	South Korea
Central government debt, % of GDP	4.9%	40.7%
External debt stocks, % of GNI	N/A	N/A
External debt stocks	N/A	N/A
Short-term debt, % of total reserves	N/A	N/A
Total debt service, % of exports and primary income	N/A	N/A
Adjusted net savings including particulate emission damage, % of GNI	35%	20.1%
Gross savings, % of GDP	67.3%	34.7%
Gross capital formation, % of GDP	29.8%	30.2%
Total reserves including gold	$85.3B	$403.1B
Foreign direct investment net inflows	$0	$14.5B

Exports, imports and economic structure

Stat	Libya	South Korea
Exports of goods and services, % of GDP	62.2%	44%
Imports of goods and services, % of GDP	40.1%	39%
Current account balance (balance of payments)	-$4.7B	$76.4B
Revenue excluding grants, % of GDP	N/A	27.8%
Grants excluding technical cooperation, BoP	$268.9M	$6.7M
Personal remittances received	$16M	$7.1B
Industry including construction value added, % of GDP	77.5%	35.1%
Agriculture, forestry and fishing value added, % of GDP	1.8%	2%
Charges for the use of intellectual property, payments BoP	N/A	$9.9B
Charges for the use of intellectual property, receipts BoP	$10M	$7.8B
Expense, % of GDP	N/A	25.4%
Government Expenditure, % of GDP	105.8%	32.8%