• S. Korea Forecast To Climb Up 3 Notches To 9th In 2020 Global GDP Rankings
This infographic by Yonhap News shows the 2020 global GDP outlook based on data by the OECD.
This infographic by Yonhap News shows the 2020 global GDP outlook based on data by the OECD.
South Korea is forecast to climb up three notches to ninth in global gross domestic product rankings this year, despite a virus-caused economic contraction.

According to data from the Organization for Economic Cooperation and Development, South Korea's economy is likely to see its nominal GDP decline 1.8 percent on-year to 1.54 trillion dollars in 2020.

The estimated value would be the ninth-largest among the surveyed countries, overtaking Brazil, Canada and Russia -- which ranked ninth, 10th and 11th last year, respectively -- as those economies are feared to be hit harder by the COVID-19 pandemic.

The United States is projected to post a 5.7 percent decline in nominal GDP, but is still expected to top the global list with 20.2 trillion dollars this year, followed by China, Japan, Germany, India and Britain.




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