ANN/THE KOREA HERALD – South Korea’s gross domestic product (GDP) per capita is projected to remain ahead of Japan in 2024, according to recent data from the International Monetary Fund (IMF).
The IMF’s World Economic Outlook predicts Korea’s GDP per capita will reach USD36,132 this year, a 1.6- per cent increase from last year’s USD35,563. Japan’s GDP per capita is expected to decline by 3.1 per cent to USD32,859, affected by a weak yen and ongoing slow economic growth, according to a Bank of Korea official.
South Korea is projected to maintain its lead over Japan through 2025, though the gap is expected to narrow. Purchasing power parity, which adjusts GDP based on exchange rates and consumer prices, is estimated at USD62,920 for South Korea and USD53,059 for Japan.
The IMF’s projections highlight South Korea’s steady economic performance despite regional challenges, as Japan contends with currency pressures and slower growth.
