South Korea vs the United States: Economic Indicators Comparison

The United States with a GDP of $20.5T ranked the 1st largest economy in the world, while South Korea ranked 12th with $1.6T. By GDP 5-years average growth and GDP per capita, the United States and South Korea ranked 113th vs 93rd and 11th vs 33rd, respectively.

Gross Domestic Product & Income

StatSouth KoreaUnited States
GDP$1.6T$20.5T
GDP growth, 1 year2.7%2.9%
GDP growth, 5-years average3%2.4%
Population51.5M325.1M
GDP per capita$31k$63k
GDP per capita growth2.33%2.29%
Purchasing Power Parity conversion factor860.511
Price level ratio of PPP conversion factor GDP to market exchange rate0.781
GDP per capita, PPP adjusted$41k$63k
GNI, Atlas method$1.6T$20.6T
GNI per capita$31k$63k
GNI, PPP adjusted$2.1T$20.8T
GNI per capita, PPP adjusted$40k$64k

Financial system and Human development

StatSouth KoreaUnited States
Income Tax Rate42%37%
Corporate Tax Rate25%21%
Inflation, consumer prices1.5%2.4%
Inflation, GDP deflator0.3%2.4%
Unemployment3.8%3.9%
Economic Freedom Index7476.6
Personal Freedom Index8.848.55
Human Freedom Index8.158.39
Property Rights Index82.581.8
Judical Effectiveness Index6183.7
Business Freedom Index90.583.3
Fiscal Health Index96.754.3
Labor Freedom Index56.287.9
Investment Freedom Index7085
Financial Freedom Index7080
Trade Freedom Index8079.8
Monetary Freedom Index82.175.5
Government Spending Index67.756.5
Tax Burden Index63.974.6
Government Integrity Index67.577.2
Corruption Perceptions Index5771
Life expectancy at birth, years82.678.5
Suicide mortality rate, per 100,000 people26.915.3
Mortality caused by road traffic injury, per 100,000 people9.812.4
Intentional homicides, per 100,000 people0.65.3
International tourism, number of arrivals15.3M79.7M

Government debt & reserves

StatSouth KoreaUnited States
Central government debt, % of GDP40.7%105.8%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI20.1%6.1%
Gross savings, % of GDP34.7%18.6%
Gross capital formation, % of GDP30.2%21%
Total reserves including gold$403.1B$449.9B
Foreign direct investment net inflows$14.5B$258.4B

Exports, imports and economic structure

StatSouth KoreaUnited States
Exports of goods and services, % of GDP44%12.2%
Imports of goods and services, % of GDP39%15.3%
Current account balance (balance of payments)$76.4B-$491B
Revenue excluding grants, % of GDP27.8%17.2%
Grants excluding technical cooperation, BoP$6.7MN/A
Personal remittances received$7.1B$6.7B
Industry including construction value added, % of GDP35.1%18.2%
Agriculture, forestry and fishing value added, % of GDP2%0.9%
Charges for the use of intellectual property, payments BoP$9.9B$56.1B
Charges for the use of intellectual property, receipts BoP$7.8B$128.7B
Expense, % of GDP25.4%22.4%
Government Expenditure, % of GDP32.8%38.1%

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

United States vs

CountryGDP
per capita
Population
Liechtenstein
$165k
37.9k
Luxembourg
$117k
626k
Switzerland
$83k
8.47M
Norway
$82k
5.37M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.64M
Singapore
$65k
5.89M
Denmark
$61k
5.83M
Australia
$57k
24.5M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
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