IMF forecasts S. Korea's 2010 per capita GDP to exceed $20,000

South Korea's per capita gross domestic product (GDP) is likely to exceed 20,000 U.S. dollars in 2010 on the back of a solid economic recovery, the International Monetary Fund (IMF) said Monday.

According to a IMF report, South Korea's per capita GDP is likely to rise to 20,566 U.S. dollars from 17,071 U.S. dollars last year after it hit 21,651 U.S. dollars in 2007.

The IMF also expected South Korea's economy to grow by 6.1 percent this year, compared with 0.2 percent last year as a result of the global economic downturn.

The nation's per capita GDP is expected to reach 22,173 U.S. dollars in 2011, and continue to expand to 28,486 U.S. dollars in 2015, said the IMF.

The IMF also forecast that consumer prices will grow 3.1 percent from a year ago, while the current account surplus is likely to hit 22.4 billion U.S. dollars.

Source:Xinhua