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S. Korea ranks 12th in GDP rankings for last year

Shandong released an ambitious railway construction plan at the end of last year, aiming to triple its high-speed railway network to 4,500km by 2022. Photo: Frank Tang Sketched by the Pan Pacific Agency.

Pan Pacific Agency | COMMUICATION AGENCY FOR PACIFICA REGIONS

SEOUL, Jul 7, 2019, Yonhap. South Korea maintained its position at 12th in the global gross domestic product (GDP) rankings last year, the World Bank said Sunday, reported the Yonhap.

In 2018, Korea posted US$1.619 trillion in terms of nominal GDP, little changed from the previous year, data from the World Bank showed.

Korea ranked 14th in the World Bank GDP rankings from 2009-2013 and grew to 13th in 2014 and 11th in 2015-2016 before it fell to 12th in 2017, the data showed.

Last year, the United States topped others with $20.494 trillion in the GDP rankings, followed by China with $13.608 trillion, Japan with $4.971 trillion and Germany with $3.997 trillion, according to the World Bank.

Korea moved up one spot to 30th in per capita gross national income with $30,600. Switzerland ranked first with $83,580, followed by Norway with $80,790 and Isle of Man with $80,340, the data showed.

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