Korea’s ratio of domestic demand to its gross domestic product ranks low among major advanced and emerging markets, a report showed on Dec. 18.
Korea’ domestic demand accounted for an average 61.9 percent of its GDP between 1996 and 2015, according to the report from the National Assembly Budget Office.
The figure ranks 27th among the 35 member nations of the Organization for Economic Cooperation and Development, and six major emerging nations, including Brazil, Russia, India and China.
The United States had the highest ratio of 88 percent, trailed by Brazil with 87.4 percent and Japan with 84.8 percent.
According to the report, the proportion for Asia’s fourth-largest economy dropped to an average of 56 percent between 006-2015 from 70.1 percent from 1996-2005.
By Alex Lee and newswires (firstname.lastname@example.org