South Korea vs Tonga: Economic Indicators Comparison

South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Tonga ranked 190th with $450.4M. By GDP 5-years average growth and GDP per capita, South Korea and Tonga ranked 93rd vs 89th and 33rd vs 113th, respectively.

Gross Domestic Product & Income

StatSouth KoreaTonga
GDP$1.6T$450.4M
GDP growth, 1 year2.7%1.8%
GDP growth, 5-years average3%3%
Population51.5M108k
GDP per capita$31k$4.4k
GDP per capita growth2.33%-0.87%
Purchasing Power Parity conversion factor860.511.49
Price level ratio of PPP conversion factor GDP to market exchange rate0.780.68
GDP per capita, PPP adjusted$41k$6.1k
GNI, Atlas method$1.6T$443.3M
GNI per capita$31k$4.3k
GNI, PPP adjusted$2.1T$672.5M
GNI per capita, PPP adjusted$40k$6.5k

Financial system and Human development

StatSouth KoreaTonga
Income Tax Rate42%20%
Corporate Tax Rate25%25%
Inflation, consumer prices1.5%3.9%
Inflation, GDP deflator0.3%3.6%
Unemployment3.8%1%
Economic Freedom Index7458.8
Personal Freedom Index8.845.6
Human Freedom Index8.155.6
Property Rights Index82.560.9
Judical Effectiveness Index6126.5
Business Freedom Index90.575
Fiscal Health Index96.795.2
Labor Freedom Index56.269.8
Investment Freedom Index7040
Financial Freedom Index7020
Trade Freedom Index8074
Monetary Freedom Index82.171.4
Government Spending Index67.742.8
Tax Burden Index63.985.2
Government Integrity Index67.544.2
Corruption Perceptions Index5750
Life expectancy at birth, years82.670.7
Suicide mortality rate, per 100,000 people26.93.5
Mortality caused by road traffic injury, per 100,000 people9.816.8
Intentional homicides, per 100,000 people0.61
International tourism, number of arrivals15.3M54k

Government debt & reserves

StatSouth KoreaTonga
Central government debt, % of GDP40.7%49.2%
External debt stocks, % of GNIN/A41.3%
External debt stocksN/A$188.7M
Short-term debt, % of total reservesN/A0%
Total debt service, % of exports and primary incomeN/A7.2%
Adjusted net savings including particulate emission damage, % of GNI20.1%9.3%
Gross savings, % of GDP34.7%16.5%
Gross capital formation, % of GDP30.2%33.4%
Total reserves including gold$403.1B$227.2M
Foreign direct investment net inflows$14.5B$15M

Exports, imports and economic structure

StatSouth KoreaTonga
Exports of goods and services, % of GDP44%22.3%
Imports of goods and services, % of GDP39%75.9%
Current account balance (balance of payments)$76.4B-$28.6M
Revenue excluding grants, % of GDP27.8%25.6%
Grants excluding technical cooperation, BoP$6.7M$64.2M
Personal remittances received$7.1B$183.3M
Industry including construction value added, % of GDP35.1%17.3%
Agriculture, forestry and fishing value added, % of GDP2%17.2%
Charges for the use of intellectual property, payments BoP$9.9B$183
Charges for the use of intellectual property, receipts BoP$7.8B$2.3k
Expense, % of GDP25.4%31.4%
Government Expenditure, % of GDP32.8%43.7%

Compare with countries close by GDP per capita

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

Tonga vs

CountryGDP
per capita
Population
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M