Arab Today, arab today s korea\s gdp by purchasing power tops 30000
Last Updated : GMT 08:10:35
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. 

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
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:03 2017 Thursday ,23 March

Spider Venom May Offer Hope to Stroke Victims

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
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