Anchor: South Korea’s per capita gross national income(GNI) stood at around 27-thousand 560 dollars last year. The Korean economy is losing steam right before joining the ranks of advanced economies with over 30-thousand dollar per-person GNI as the nation also saw sluggish growth in the two percent range for the second consecutive year.
Our Bae Joo-yon has this report.
Report: The Bank of Korea on Tuesday tentatively estimated that the nation’s per capita gross national income(GNI) stood at 27-thousand-561 U.S. dollars last year.
That’s up one-point-four percent from a year earlier but still far behind the 30-thousand dollar benchmark South Koreans have long identified as a qualification for an advanced economy.
Since entering the 20-thousand dollar range in 2006, the nation’s per capita GNI remained below the 30-thousand dollar threshold. There were 43 countries above the GNI threshold in the year 2015.
South Korea’s gross national disposable income per capita stood at 15-thousand-632 dollars last year, up nine-tenths of a percent from a year ago.
Meanwhile, the nation’s gross domestic product(GDP) saw a growth of two-point-eight percent in 2016. It marked the second straight year for the GDP growth to remain in the sluggish two percent range.
The figure comes as service industries saw their growth plunge despite the surge in manufacturing and construction firms growth.
Private consumption climbed two-and-a-half percent while the nation’s total savings rate jumped two-tenths of a percentage point.
Bae Joo-yon, KBS World Radio News.