Palau vs South Korea: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Palau ranked 192nd with $284M. By GDP per capita, South Korea and Palau ranked 33rd vs 60th, respectively.
Gross Domestic Product & Income
| Stat |  Palau |  South Korea |
|---|---|---|
| GDP | $284M | $1.6T |
| GDP growth, 1 year | 1.71% | 2.7% |
| GDP growth, 5-years average | N/A | 3% |
| Population | 22k | 51.5M |
| GDP per capita | $16k | $31k |
| GDP per capita growth | 1.14% | 2.33% |
| Purchasing Power Parity conversion factor | 0.86 | 860.51 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.86 | 0.78 |
| GDP per capita, PPP adjusted | $19k | $41k |
| GNI, Atlas method | $309.4M | $1.6T |
| GNI per capita | $17k | $31k |
| GNI, PPP adjusted | $349.4M | $2.1T |
| GNI per capita, PPP adjusted | $20k | $40k |
Financial system and Human development
| Stat | Palau | South Korea |
|---|---|---|
| Income Tax Rate | N/A | 42% |
| Corporate Tax Rate | N/A | 25% |
| Inflation, consumer prices | 1.3% | 1.5% |
| Inflation, GDP deflator | -2.5% | 0.3% |
| Unemployment | 1.4% | 3.8% |
| Economic Freedom Index | 62 | 74 |
| Personal Freedom Index | 6.4 | 8.84 |
| Human Freedom Index | 6.4 | 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 | 49 | 57 |
| Life expectancy at birth, years | 69.1 | 82.6 |
| Suicide mortality rate, per 100,000 people | 21.7 | 26.9 |
| Mortality caused by road traffic injury, per 100,000 people | 4.8 | 9.8 |
| Intentional homicides, per 100,000 people | 3.1 | 0.6 |
| International tourism, number of arrivals | 106k | 15.3M |
Government debt & reserves
| Stat | Palau | South Korea |
|---|---|---|
| Central government debt, % of GDP | 67.5% | 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 | N/A | 20.1% |
| Gross savings, % of GDP | 10.7% | 34.7% |
| Gross capital formation, % of GDP | 26.7% | 30.2% |
| Total reserves including gold | N/A | $403.1B |
| Foreign direct investment net inflows | $21.5M | $14.5B |
Exports, imports and economic structure
| Stat | Palau | South Korea |
|---|---|---|
| Exports of goods and services, % of GDP | 47% | 44% |
| Imports of goods and services, % of GDP | 76.3% | 39% |
| Current account balance (balance of payments) | -$51.8M | $76.4B |
| Revenue excluding grants, % of GDP | 27.3% | 27.8% |
| Grants excluding technical cooperation, BoP | $81.2M | $6.7M |
| Personal remittances received | $2.2M | $7.1B |
| Industry including construction value added, % of GDP | 8% | 35.1% |
| Agriculture, forestry and fishing value added, % of GDP | 3.2% | 2% |
| Charges for the use of intellectual property, payments BoP | N/A | $9.9B |
| Charges for the use of intellectual property, receipts BoP | N/A | $7.8B |
| Expense, % of GDP | 41.4% | 25.4% |
| Government Expenditure, % of GDP | N/A | 32.8% |
