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S. Korea Slips to 10th in World GDP Rankings

Written: 2020-05-27 10:08:41Updated: 2020-05-27 11:30:04

S. Korea Slips to 10th in World GDP Rankings

South Korea slipped two notches to tenth last year in the global rankings of gross domestic product(GDP).

According to data from the Organization for Economic Cooperation(OECD) on Wednesday, South Korea's nominal GDP reached one-point-64 trillion U.S. dollars last year. 

It marked the country's first drop in the rankings since the 2008 global financial crisis. The OECD analyzed 38 advanced and emerging economies.

South Korea saw the drop as its nominal economic growth rate marked one-point-four percent in 2019, the third-lowest among the 47 countries surveyed by the OECD.

The United States topped the list, followed by China, Japan, Germany, Britain, France and Italy. Canada and Russia placed eighth and ninth, respectively.

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