Korea Remains World's 12th Largest Economy

Published on 2019/07/14 | Source

Korea remained the world's 12th largest economy last year.

According to the World Bank on Sunday, Korea ranked 12th among 205 countries in 2018, posting a US$1.619 trillion nominal GDP.

Korea rose from 14th in 2009-2013 to 11th in 2015-2016, but slid to 12th in 2017.

The U.S. still topped the new list with a GDP of $20.494 trillion. Next came China ($13.608 trillion), Japan ($4.971 trillion), Germany ($3.997 trillion), the U.K. ($2.825 trillion), France ($2.778 trillion), India ($2.726 trillion), Italy ($2.739 trillion), Brazil ($1.869 trillion), Canada ($1.709 trillion), and Russia ($1.658 trillion).

But in terms of per-capita gross national income, Korea finished only 30th among 192 countries with $30,600 last year, up a notch from 31st ($28,380) in 2017.