South Korea's gross domestic product (GDP) per capita was estimated to have surpassed 36-thousand dollars last year.

According to data from the Bank of Korea and the Finance Ministry on Sunday, the GDP per capita for 2024 is estimated at 36-thousand-24 U.S. dollars, up 454 dollars or one-point-28 percent on-year.

The estimate is similar to the 36-thousand-132 dollars projected by the International Monetary Fund (IMF) in October.

The figure is higher than the IMF estimates for Japan and Taiwan.

South Korea's GDP per capita exceeded 30-thousand dollars in 2016 and climbed to 35-thousand-359 dollars in 2018 before slipping to 33-thousand-503 dollars in 2020 due to COVID-19.

The figure rebounded to hit 37-thousand-503 dollars in 2021 but fell back to below 35-thousand dollars in 2022 before increasing for the following two years.