S. Korea Per Capita GNI Nears $30,000
S. Korea Per Capita GNI Nears $30,000

S. Korea Per Capita GNI Nears $30,000

S. Korea Per Capita GNI Nears $30,000

Expectations are growing that Korea’s gross national income per capita will reach the level of $30,000, regarded as the threshold to enter the group of truly advanced economies, for the first time this year, Yonhap reported. Asia’s fourth-largest economy has failed to achieve the landmark figure for more than a decade since its per capita GNI first surpassed $20,000 in 2006. Local economic research institutes estimate the country’s per capita GNI to be somewhere between $29,500 and $29,800 in 2017, on the assumption that its economy grows 3% and the won-dollar exchange rate averages 1,130 won per dollar. There is the possibility that Korea will reach the elusive target this year, if its annual growth rate is a little higher and the value of its currency further rises against the dollar in the remaining days of the year. With per capita GNI above $30,000, an economy can be seen as fully sophisticated with advanced manufacturing technology and a competitive service sector.

Short URL : https://goo.gl/SBTDZ8
  1. https://goo.gl/ZCz3H9
  • https://goo.gl/SH1S6s
  • https://goo.gl/V9pLLc
  • https://goo.gl/CctQNR
  • https://goo.gl/j3FGX8

You can also read ...

China Challenges US Solar Panel Duties
China says it is challenging a US tariff hike on solar panels...
In a retaliatory move, President Recep Tayyip Erdogan’s government on Wednesday announced higher tariffs on some US imports, namely on passenger cars (120%) and leaf tobacco (60%).
Turkey has raised tariffs on some US imports, including...
World trade volume growth peaked in January at almost 5.7% year-on-year but nearly halved to less than 3% by May.
Cyclical indicators point to slower and more uneven growth in...
Moody’s Predicts Slower Fiscal Progress in S. Africa
South Africa’s fiscal consolidation will be slower than the...
Nigeria CPI Drops to 11.14 Percent
Nigeria’s National Bureau of Statistics says the consumer...
File picture of Kim Jong-un (L) and Moon Jae-in at the truce village  of Panmunjom, South Korea.
South Korea President Moon Jae-in on Wednesday offered a bold...
Surging Inflation Mars Philippines Growth
The Philippine economy in 2018 is a story that can be summed...
Transport tickets and fuel have driven up costs for consumers.
Inflation in the UK climbed in the month of the July, as had...

Add new comment

Read our comment policy before posting your viewpoints