South Korean GNP Ranks 10th in World in 2004
Korea’s gross domestic product ranked 10th in the world in 2004, according to the Ministry of Commerce, Industry and Energy.
According to a ministry report on the Korean economy’s global standing, the country is estimated to have become the 10th largest global economy with a GDP of $667.4 billion last year, overtaking Mexico, whose GDP is estimated at $663.1 billion.
In 2003, the country recorded a GDP of $605.2 billion, ranking 11th. It was placed 50th in terms of per-capita gross national income with $12,030, which increased to $16,900 in 2004 and is expected to break through the $20,000 mark by 2008.
Korean exports stood at $254.2 billion in 2004, making it the 12th nation to see its exports reach the $2,500 billion mark. Its export volume was the world’s ninth largest last year, excluding transit trading countries, followed by the Netherlands, Belgium, and Hong Kong.
According to a ministry report on the Korean economy’s global standing, the country is estimated to have become the 10th largest global economy with a GDP of $667.4 billion last year, overtaking Mexico, whose GDP is estimated at $663.1 billion.
In 2003, the country recorded a GDP of $605.2 billion, ranking 11th. It was placed 50th in terms of per-capita gross national income with $12,030, which increased to $16,900 in 2004 and is expected to break through the $20,000 mark by 2008.
Korean exports stood at $254.2 billion in 2004, making it the 12th nation to see its exports reach the $2,500 billion mark. Its export volume was the world’s ninth largest last year, excluding transit trading countries, followed by the Netherlands, Belgium, and Hong Kong.
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