South Korea has been ranked the world’s eleventh largest economy in 2015, but its per-capita gross national income(GNI) in terms of purchasing power parity(PPP) has fallen to 48th.

According to the compiled data by the World Bank on Monday, South Korea’s nominal Gross Domestic Product(GDP) stood at one-trillion-377-point-nine-billion U.S. dollars as of last year.

It marks the first time in nine years that South Korea has regained its eleventh place in the global GDP rankings.

The country's GDP rise was attributed not so much to the country’s better performance, but more to the declining of its rivals, Russia and Australia.

The Russian and Australian economies, which were ranked tenth and 12th, respectively, in 2014, contracted last year due to the significant fall in international raw material prices.

South Korea’s per-capita GNI was tallied at 27-thousand-440 dollars last year, falling by four notches from 2014.

The country’s per-capita GNI based on PPP slightly rose to 34-thousand-700 dollars from 34-thousand-620 dollars in 2014, but still slid by six notches to 48th.