36 thousand dollars, per capita GDP in South Korea
On February 2 / WAM / Data on Sunday showed that the per capita GDP in South Korea is expected to exceed 36,000 USD last year.
It is expected that the per capita GDP of 2024 is about 36 thousand and 24 dollars, an increase of $ 454 or 1.28%, for the previous year, according to the data gathered by the Ministry of Economy and Finance, Korea Bank and the Korean Statistics Authority.
The country’s GDP of 2024 exceeds the total GDP in Japan by 32 thousand and 859 dollars and Taiwan by 33 thousand and 234 dollars, according to estimates of the International Monetary Fund.
The per capita GDP in South Korea was calculated on the basis of a nominal growth rate of 5.9% of the nominal GDP of 2.4 Cadrellion Won (1.65 trillion dollars) in 2023 and the average of the Won exchange rate against the dollar at 1363.98 Won last year.
The total population of South Korea in 2024 is estimated at 51.75 million, and it is expected that the per capita GDP in the country this year will increase to more than 37 thousand dollars, if it succeeds in meeting growth expectations. The per capita GDP in South Korea recorded more than 30 thousand dollars for the first time in 2016, and its highest level was at 37 thousand and 503 dollars in 2021 before decreasing to 34 thousand and 810 dollars in the following year.
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