South Korea vs Venezuela: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Venezuela ranked 27th with $482.4B. By GDP 5-years average growth and GDP per capita, South Korea and Venezuela ranked 93rd vs 181st and 33rd vs 58th, respectively.
Gross Domestic Product & Income
| Stat |  South Korea |  Venezuela |
|---|---|---|
| GDP | $1.6T | $482.4B |
| GDP growth, 1 year | 2.7% | -18% |
| GDP growth, 5-years average | 3% | -12.2% |
| Population | 51.5M | 28.5M |
| GDP per capita | $31k | $16k |
| GDP per capita growth | 2.33% | -18.17% |
| Purchasing Power Parity conversion factor | 860.51 | 5.57 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.78 | 0.89 |
| GDP per capita, PPP adjusted | $41k | $8.8k |
| GNI, Atlas method | $1.6T | $392.9B |
| GNI per capita | $31k | $13k |
| GNI, PPP adjusted | $2.1T | $352.8B |
| GNI per capita, PPP adjusted | $40k | $12k |
Financial system and Human development
| Stat | South Korea | Venezuela |
|---|---|---|
| Income Tax Rate | 42% | 34% |
| Corporate Tax Rate | 25% | 34% |
| Inflation, consumer prices | 1.5% | 929789.5% |
| Inflation, GDP deflator | 0.3% | 748.1% |
| Unemployment | 3.8% | 8.4% |
| Economic Freedom Index | 74 | 25.2 |
| Personal Freedom Index | 8.84 | 6.33 |
| Human Freedom Index | 8.15 | 5.27 |
| Property Rights Index | 82.5 | 10.1 |
| Judical Effectiveness Index | 61 | 12.6 |
| Business Freedom Index | 90.5 | 30.8 |
| Fiscal Health Index | 96.7 | 0 |
| Labor Freedom Index | 56.2 | 27.7 |
| Investment Freedom Index | 70 | 0 |
| Financial Freedom Index | 70 | 10 |
| Trade Freedom Index | 80 | 58 |
| Monetary Freedom Index | 82.1 | 0 |
| Government Spending Index | 67.7 | 66.3 |
| Tax Burden Index | 63.9 | 72.8 |
| Government Integrity Index | 67.5 | 14.6 |
| Corruption Perceptions Index | 57 | 18 |
| Life expectancy at birth, years | 82.6 | 72.2 |
| Suicide mortality rate, per 100,000 people | 26.9 | 3.7 |
| Mortality caused by road traffic injury, per 100,000 people | 9.8 | 33.7 |
| Intentional homicides, per 100,000 people | 0.6 | 56.3 |
| International tourism, number of arrivals | 15.3M | 427k |
Government debt & reserves
| Stat | South Korea | Venezuela |
|---|---|---|
| Central government debt, % of GDP | 40.7% | 175.6% |
| External debt stocks, % of GNI | N/A | 33.9% |
| External debt stocks | N/A | $154.9B |
| Short-term debt, % of total reserves | N/A | 421.1% |
| Total debt service, % of exports and primary income | N/A | 69% |
| Adjusted net savings including particulate emission damage, % of GNI | 20.1% | 7.2% |
| Gross savings, % of GDP | 34.7% | 8.9% |
| Gross capital formation, % of GDP | 30.2% | -3.7% |
| Total reserves including gold | $403.1B | $9.8B |
| Foreign direct investment net inflows | $14.5B | $956M |
Exports, imports and economic structure
| Stat | South Korea | Venezuela |
|---|---|---|
| Exports of goods and services, % of GDP | 44% | 30.7% |
| Imports of goods and services, % of GDP | 39% | 36.4% |
| Current account balance (balance of payments) | $76.4B | -$3.9B |
| Revenue excluding grants, % of GDP | 27.8% | N/A |
| Grants excluding technical cooperation, BoP | $6.7M | $125.8M |
| Personal remittances received | $7.1B | $297.1M |
| Industry including construction value added, % of GDP | 35.1% | 37.2% |
| Agriculture, forestry and fishing value added, % of GDP | 2% | 5% |
| Charges for the use of intellectual property, payments BoP | $9.9B | $258M |
| Charges for the use of intellectual property, receipts BoP | $7.8B | N/A |
| Expense, % of GDP | 25.4% | N/A |
| Government Expenditure, % of GDP | 32.8% | 33.5% |
