Thursday, July 18, 2019
South Korea Ranks 12th in Nominal GDP, 33rd in PPP
S. Korea's Nominal GDP Reaches US$1,619.4 Bil.
South Korea Ranks 12th in Nominal GDP, 33rd in PPP
  • By Jung Suk-yee
  • July 8, 2019, 11:46
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South Korea ranked 12th out of 205 countries by recording a nominal GDP of US$1,619.4 billion last year.

The World Bank announced on July 7 that South Korea recorded a nominal GDP of US$1,619.4 billion last year to come in 12th out of 205 countries. South Korea took the 14th place in 2009 to 2013, 13th in 2014, 11th in 2015 and 2016, and 12th in 2017.

Last year, the United States topped the list with over US$20.49 trillion, followed by China (US$13,608.2 billion), Japan (US$4,970.9 billion), Germany (US$3,996.8 billion), Britain (US$2,825.2 billion), France (US$2,777.5 billion), India (US$2,726.3 billion), Italy (US$2,073.9 billion), Brazil (US$1,868.6 billion), Canada (US$1,709.3 billion) and Russia (US$1,657.6 billion).

During the period, South Korea recorded a GNI per capita of US$30,600, ranking 30th out of 192 countries. For reference, the figures were US$28,380 and 31st in 2017.

Switzerland topped the list with US$83,580, followed by Norway (US$80,790) and the Isle of Man (US$80,340), which is a self-governing British Crown dependency in the Irish Sea between England and Ireland.

When it comes to PPP-based GNI per capita, which shows people’s actual purchasing power, South Korea posted US$40,450 and slid from 31st to 33rd in one year. Spain (US$40,840) and Israel (US$40,800) rose to 31st and 32nd, respectively. Last year’s top three are Qatar (US$124,130), Macao (US$112,480) and Singapore (US$94,500).