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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

StatSouth KoreaVenezuela
GDP$1.6T$482.4B
GDP growth, 1 year2.7%-18%
GDP growth, 5-years average3%-12.2%
Population51.1M28.5M
GDP per capita$31k$16k
GDP per capita growth2.33%-18.17%
Purchasing Power Parity conversion factor860.515.57
Price level ratio of PPP conversion factor GDP to market exchange rate0.780.89
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

StatSouth KoreaVenezuela
Income Tax Rate42%34%
Corporate Tax Rate25%34%
Inflation, consumer prices1.5%929789.5%
Inflation, GDP deflator0.3%748.1%
Unemployment3.8%8.4%
Economic Freedom Index7425.2
Personal Freedom Index8.846.33
Human Freedom Index8.155.27
Property Rights Index82.510.1
Judical Effectiveness Index6112.6
Business Freedom Index90.530.8
Fiscal Health Index96.70
Labor Freedom Index56.227.7
Investment Freedom Index700
Financial Freedom Index7010
Trade Freedom Index8058
Monetary Freedom Index82.10
Government Spending Index67.766.3
Tax Burden Index63.972.8
Government Integrity Index67.514.6
Corruption Perceptions Index5718
Life expectancy at birth, years82.672.2
Suicide mortality rate, per 100,000 people26.93.7
Mortality caused by road traffic injury, per 100,000 people9.833.7
Intentional homicides, per 100,000 people0.656.3
International tourism, number of arrivals15.3M427k

Government debt & reserves

StatSouth KoreaVenezuela
Central government debt, % of GDP40.7%175.6%
External debt stocks, % of GNIN/A33.9%
External debt stocksN/A$154.9B
Short-term debt, % of total reservesN/A421.1%
Total debt service, % of exports and primary incomeN/A69%
Adjusted net savings including particulate emission damage, % of GNI20.1%7.2%
Gross savings, % of GDP34.7%8.9%
Gross capital formation, % of GDP30.2%-3.7%
Total reserves including gold$403.1B$9.8B
Foreign direct investment net inflows$14.5B$956M

Exports, imports and economic structure

StatSouth KoreaVenezuela
Exports of goods and services, % of GDP44%30.7%
Imports of goods and services, % of GDP39%36.4%
Current account balance (balance of payments)$76.4B-$3.9B
Revenue excluding grants, % of GDP27.8%N/A
Grants excluding technical cooperation, BoP$6.7M$125.8M
Personal remittances received$7.1B$297.1M
Industry including construction value added, % of GDP35.1%37.2%
Agriculture, forestry and fishing value added, % of GDP2%5%
Charges for the use of intellectual property, payments BoP$9.9B$258M
Charges for the use of intellectual property, receipts BoP$7.8BN/A
Expense, % of GDP25.4%N/A
Government Expenditure, % of GDP32.8%33.5%

Compare with countries close by GDP per capita

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k
Spain
$30k
46.5M
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k

Venezuela vs

CountryGDP
per capita
Population
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k
Lithuania
$19k
2.79M
Barbados
$18k
285k
Latvia
$18k
1.95M
Uruguay
$17k
3.41M
Trinidad and Tobago
$17k
1.34M
Antigua and Barbuda
$17k
101k
Seychelles
$16k
95.8k
Oman
$16k
3.63M
Hungary
$16k
9.97M
Chile
$16k
18.1M
Palau
$16k
20.9k
Panama
$16k
3.86M
Poland
$15k
38.5M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.87M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
345k
Equatorial Guinea
$10k
1.22M