• S. Korea's GDP Ranks 10th In World In 2019: OCED

Photo: Yonhap News
Photo: Yonhap News
South Korea's gross domestic product ranked 10th in the world in 2019, down two notches from the previous year.

According to data released Wednesday from the Organization for Economic Cooperation, the Korean economy registered over 1.6 trillion dollars in nominal GDP last year, finishing 10th among 38 nations analyzed.

It marked the country's first slide since the 2008 global financial crisis when it dropped from 12th to 14th place, and came as its nominal economic growth rate stood at 1.4 percent, the third-lowest among 47 countries surveyed by the OECD.

The United States topped the global GDP list with 21.4 trillion dollars last year, trailed by China with over 14.3 trillion dollars and Japan with nearly 5.1 trillion dollars.

Nominal GDP is the market value of all final goods and services of a country in a given year based on current prices and used to compare the size of different economies.

<Photo: Yonhap News>


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