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S. Korea ranks 33rd in per-capita GDP: IMF data

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Published : 2014-05-12 10:27
Updated : 2014-05-12 10:27

South Korea ranked 33rd in per-capita gross domestic product in 2013, with its global standing rising eight notches over the past five years, data showed Monday.

According to the data by the International Monetary Fund, South Korea's per-capita nominal GDP came to $24,329 last year, which was the 33rd highest in the world. This is up from 34th in 2012 and 41st in 2008.

Luxembourg topped the list with $110,423 last year, followed by Norway with $100,318, Qatar with $100,260 and Switzerland with $81,323, the data showed.

South Korea was placed 27th in terms of per-capita GDP based on purchasing power parity (PPP), which came to $33,189. The ranking was higher than 2008 when Korea came in 35th with $27,334, the data showed.

PPP is used to gauge actual living standards by measuring purchasing power of people in different countries on the assumption that living costs and currency exchange rates are equal around the world.

South Korea maintained its status as the world's 15th largest economy for the fifth consecutive year in 2013 by reporting $1.22 trillion in GDP. The amount was up $92.2 billion from a year earlier.

The United States topped the list with a GDP of $16.8 trillion, widening the gap with the runner-up China, whose GDP was $9.18 trillion, according to the data. (Yonhap)

 

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