Australia and South Korea Economies: A Side-by-Side Table Comparison

When comparing Australia and South Korea, notable differences emerge. South Korea’s population is about twice that of Australia, while Australia boasts a land area 77 times larger. Economically, Australia has a slightly larger GDP and significantly higher GDP per capita, yet South Korea invests more in its military and exports more advanced goods.

Basic Indicators

Indicator	Australia	South Korea	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	51.63 million (28th)	South Korea’s population is approximately 2 times larger than Australia’s.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	0.10 million sq. km (103rd)	Australia is 77.4 times larger than South Korea.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	1,673.92B USD (13th)	Australia’s total GDP is approximately 1.01 times larger than South Korea’s.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	32,423 USD (35th)	Australia’s GDP per capita is roughly 101% higher than South Korea’s, with Australians producing about $32,677 more per person annually.

Economic Indexes

Index	Australia	South Korea	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.929 (19th)	Australia’s HDI is 0.946 (very high), while South Korea’s is 0.929 (very high). Australia’s score is 0.017 higher, indicating a slight advantage in human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	73.1 (13th)	Australia’s Index of Economic Freedom is 4.1 points higher than South Korea’s, reflecting a difference of approximately 5.6%.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	31.4 (2016 est.)	With a 10% higher Gini coefficient, Australia has a higher degree of income inequality than South Korea.

International trade _{source(2023 data), updated 2024}

Indicator	Australia	South Korea
Total imports	363.57B USD	761.10B
Imports % of GDP	19.71%	48.26%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	China 23%, US 11%, Japan 8%, Australia 6%, Saudi Arabia 5%
Main import items	refined petroleum, cars, garments, trucks, plastic products	crude petroleum, integrated circuits, natural gas, coal, refined petroleum
Total exports	447.51B USD	769.53B
Exports % of GDP	25.43%	48.27%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	China 21%, US 16%, Vietnam 9%, Japan 4%, Hong Kong 4%
Main export items	coal, iron ore, natural gas, gold, wheat	integrated circuits, refined petroleum, cars, broadcasting equipment, ships

Australia’s imports are less than half of South Korea’s, and Australia imports 59% less of its GDP compared to South Korea. Australia’s exports are 447.51B USD, mostly raw materials, while South Korea’s are 769.53B USD, focusing on advanced tech and vehicles.

Military Power _{source (2023 data), updated 2024}

Indicator	Australia	South Korea
Military expenditure	32.3B USD	47.9B USD
Military expenditure (% of GDP)	1.90%	2.72%
Active military	59k	500k
Active military per 1,000 capita	3.8	127.3

South Korea’s military expenditure is 48% larger and approximately $15.6 billion higher than Australia’s, and it allocates a greater percentage of its GDP to defense compared to Australia.