Anchor: South Korea slipped two notches to sit in tenth last year in the global rankings of gross domestic product(GDP), its first such decline since 2008. According to the Organization for Economic Cooperation and Development(OECD), the drop follows a dismal economic growth rate in the same year.
Park Jong-hong has this report.

Report: In 2019, South Korea's nominal gross domestic product(GDP) reached one-point-64 trillion U.S. dollars, according to the Organization for Economic Cooperation and Development(OECD).

This puts the country at 10th place in the world in terms of GDP, down two notches from 2018, and marks the first ranking drop since the 2008 global financial crisis. The country was overtaken by Canada and Russia.

The figures are based on the latest report by the OECD released on Wednesday.

GDP refers to the total value of goods and services produced within an economy in a given period and is used as the broadest measure of an economy's performance.

South Korea saw the drop in GDP ranking last year as its nominal economic growth rate marked a dismal one-point-four percent in 2019.
This growth rate turned out to be the third-lowest among the 47 countries surveyed by the OECD, including non-member emerging economies.

The United States topped the global GDP list with 21 trillion dollars, followed by China with 14 trillion dollars. Next in line were Japan, Germany, Britain, France and Italy. 
Park Jong-hong KBS World Radio News