hankyoreh

According to figures released August 28, as of 2005 South Korea was the world’s 12th largest economy in terms of gross domestic product (GDP) and the world’s 29th in terms of per capita gross national income (GNI). The value of South Korean exports and imports were ranked the world’s 12th and 13th each, and inflation was lower than other Organization of Economic Cooperation and Development member countries.

According to a report released on Aug. 28 by the National Statistical Office, South Korea’s 2005 GDP rose 15.7 percent from a year ago to US$787.5 billion, the world’s 12th largest. The United States kept its undisputed No. 1 position in that category, with a GDP of US$12.4 trillion, followed by Japan’s GDP, valued at US$4.55 trillion. Germany, Britain and France rounded out the top five with GDPs at around US$2 trillion. China came in at No. 6, and Brazil - which was ranked 15th place in 2004 - overtook South Korea’s position as the world’s 11th largest economy last year. Mexico, which was ahead of South Korea in 2004, was ranked 13th place last year with its GDP of US$768.4 billion.

Last year, South Korea’s per capita gross national income rose 14.8 percent from a year earlier to US$16,291, moving its rank from 30th in 2004 up to 29th worldwide. Luxembourg (US$65,228) and Norway (US$63,423) were ranked first and second each. The U.S. (US$41,802) came fifth and Japan placed 12th (US$36,431). Taiwan (US$15,676) was one notch behind South Korea.

South Korea’s 2005 exports gained 12 percent from a year ago to $284.4 billion and imports rose 16.4 percent to US$261.2 billion. In the global ranking of exporters, Germany was at the top followed by the U.S. and China. In terms of imports, the U.S. came first, followed by Germany and China.

South Korea’s consumer prices were comparable with those of other nations. Assigning a numerical value of 100 to South Korean consumer price levels, Japan and the U.S. came in on the scale at 145 and 116, respectively. In comparison, price levels in Mexico and Turkey both measured 84.

South Korea’s total population was 48.49 million (the world’s 25th largest), automobile shipments were 3.69 million units (the world’s fifth largest), there were 66 Internet users per every 100 persons (the world’s third highest usage) and shipbuilding volume stood as the world’s largest.