December 10, 2023

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South Korea maintained its position at 12th in the global gross domestic product rankings last year, the World Bank said on July 7.

In 2018, Korea posted $1.619 trillion in terms of nominal GDP, little changed from the previous year, data from the World Bank showed.

Korea ranked 14th in the World Bank GDP rankings from 2009-2013 and grew to 13th in 2014 and 11th in 2015-2016 before it fell to 12th in 2017, the data showed.

Last year, the United States topped others with $20.494 trillion in the GDP rankings, followed by China with $13.608 trillion, Japan with $4.971 trillion and Germany with $3.997 trillion, according to the World Bank.

Korea moved up one spot to 30th in per capita gross national income with $30,600. Switzerland ranked first with $83,580, followed by Norway with $80,790 and Isle of Man with $80,340, the data showed.

By Ram Garikipati and newswires (ram@heraldcorp.com)