Korea, Rep.: GDP per capita, PPP (constant 2021 international $)
In , Korea, Rep.'s GDP per capita, PPP (constant 2021 international $) was 55,070.94.
That's up 1.9% from 2023, the highest value on record.
The global average for this indicator in 2024 was 27,707.28 . Korea, Rep. ranks #29 globally out of 188 reporting countries. Within East Asia & Pacific, it ranks #6 of 28.
Source: World Bank Open Data (NY.GDP.PCAP.PP.KD) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 55,070.94
- Trough
- 32,886.05
- 1-year change
- +1.9%
- 5-year change
- +10.6%
- +2.0% / yr
- 10-year change
- +25.7%
- +2.3% / yr
Historical Data — Last 10 Years
| Year | GDP per capita, PPP (constant 2021 international $) |
|---|---|
| 55,070.9386 | |
| 54,029.3435 | |
| 53,228.6036 | |
| 51,718.2519 | |
| 49,374.0926 | |
| 49,790.8680 | |
| 48,834.4471 | |
| 47,536.7899 | |
| 46,088.2431 | |
| 44,849.1068 |
About GDP per capita, PPP (constant 2021 international $)
This indicator provides values for gross domestic product (GDP) per person expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. The core indicator has been divided by the general population to achieve a per capita estimate. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.
Indicator code: NY.GDP.PCAP.PP.KD • Category: Economy
Frequently asked questions
- What was Korea, Rep.'s GDP per capita, PPP (constant 2021 international $) in 2024?
- In 2024, Korea, Rep.'s GDP per capita, PPP (constant 2021 international $) was 55,070.94, according to World Bank Open Data.
- Is Korea, Rep.'s GDP per capita, PPP (constant 2021 international $) rising or falling?
- Korea, Rep.'s GDP per capita, PPP (constant 2021 international $) rose 1.9% from 2023 to 2024.
- How does Korea, Rep. rank globally on GDP per capita, PPP (constant 2021 international $)?
- In 2024, Korea, Rep. ranked #29 out of 188 countries reporting GDP per capita, PPP (constant 2021 international $).
- How does Korea, Rep.'s GDP per capita, PPP (constant 2021 international $) compare to the world average?
- The global average for GDP per capita, PPP (constant 2021 international $) in 2024 was 27,707.28, so Korea, Rep. is above the world average. Within East Asia & Pacific, it ranks #6 of 28.
- What is GDP per capita, PPP (constant 2021 international $) and how is it measured?
- This indicator provides values for gross domestic product (GDP) per person expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. The core indicator has been divided by the general population to achieve a per capita estimate. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.
Source: World Bank Open Data (NY.GDP.PCAP.PP.KD), CC BY 4.0.