South Korea's per capita GDP ranking has dropped, while Taiwan has overtaken it and continues to rise.

International Monetary Fund (IMF): South Korea's per capita GDP ranking was 34th last year and 37th this year, while Taiwan region made a comeback, being 38th last year and 35th this year.

According to the International Monetary Fund (IMF), South Korea's per capita gross domestic product (GDP) ranking will drop from 34th in the world in 2024 to 37th. In contrast, Taiwan's ranking will rise from 38th to 35th, surpassing South Korea after 22 years.

On the 20th, according to the Bank of Korea, the IMF predicted that South Korea's per capita GDP this year would be 35,962 US dollars in its "World Economic Outlook" released on the 15th.

It decreased by 0.8% compared to last year. In the 197 countries included in the IMF statistics, South Korea's per capita GDP ranking will drop from 34th in 2024 to 37th.

The IMF predicts that in 2028, three years later, South Korea's per capita GDP will reach 48,002 USD, entering the 40,000 USD era. In the IMF's outlook in April, it had predicted the breakthrough of 40,000 USD in 2029, one year earlier.

However, in the world per capita GDP ranking, South Korea will be ranked 37th this year, and will further drop to 38th next year, 40th in 2028, and 41st in 2029, with the ranking continuing to decline.

This is contrary to Taiwan, which has been on the rise recently due to the benefits of AI (artificial intelligence) chip exports. The IMF predicts that Taiwan's per capita GDP was 34,060 USD last year, and will increase to 37,827 USD this year, an increase of 11.1%, and its world ranking will also jump from 38th to 35th.

Additionally, next year, Taiwan's per capita GDP will reach 41,586 USD, surpassing the 40,000 USD mark two years earlier than South Korea, and its world ranking will continue to rise to 31st.

The IMF predicts that in 2030, five years later, Taiwan's per capita GDP will reach 50,252 USD, breaking through the 50,000 USD threshold. However, South Korea's expected per capita GDP in 2030 is only 44,262 USD.

At the same time, the IMF predicts that Japan's per capita GDP this year will increase from 32,443 USD last year to 34,713 USD this year, an increase of nearly 7%, but its world ranking remains at 40th.

Source: Chosun Ilbo

Original: www.toutiao.com/article/1846580386437259/

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