Arab Today, arab today s korea\s gdp by purchasing power tops 30000
Last Updated : GMT 12:13:37
Arab Today, arab today
Arab Today, arab today

S Korea\'s GDP by purchasing power tops $30000

Arab Today, arab today

Arab Today, arab today S Korea\'s GDP by purchasing power tops $30000

Seoul - YONHAP

South Korea is about to join the ranks of advanced countries in terms of gross domestic product (GDP) based on purchasing power parity (PPP), a local think tank said Sunday in a report on Koreans\' actual living standards. The Hyundai Research Institute said that South Korea\'s per capita GDP reached US$22,778, the 34th largest in the world, in 2011, but its GDP by PPP per capita is estimated at $31,714, the world\'s 25th highest. The wide gap between nominal and PPP-based GDP data apparently stems from below-average food, shelter and clothing costs in South Korea, said the institute in a report compiled on the basis of the 2008 prices of major necessities. As of 2008, foodstuff prices in South Korea were about 3 percent higher than the average of Organization for Economic Cooperation and Development (OECD) member countries. In terms of the prices of alcoholic and non-alcoholic drinks, South Korea\'s prices were higher than the OECD average by 20 percent and 33 percent, respectively. However, South Korea\'s clothing and footwear prices were about 10 percent lower than the OECD average, while South Koreans were paying about 47 percent less than the OECD average to buy houses, tap water, electricity and fuels. Cigarette prices were about 51 percent cheaper in South Korea. In terms of medical, communications and culture-related expenses, too, South Koreans\' burdens are about 48 percent, 41 percent and 24 percent lighter, respectively, compared with the OECD average. The Hyundai think tank noted that despite overall stability in foodstuff prices, meat and vegetables are more expensive in South Korea than in advanced countries, calling for efforts to stabilize prices for key daily necessities. It also urged the government to readjust the domestic prices of electricity and tap water, noting their comparatively cheap rates tend to encourage excessive consumption and deteriorate fiscal burdens. 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korea\s gdp by purchasing power tops 30000 Arab Today, arab today s korea\s gdp by purchasing power tops 30000

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korea\s gdp by purchasing power tops 30000 Arab Today, arab today s korea\s gdp by purchasing power tops 30000

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday