IMF predicts that S.Korea will be ranked 10th in terms of its economy for three consecutive years.

Seoul, December 27, 2012 : .According to data from the International Monetary Fund, South Korea is expected to remain ranked 10th in nominal gross domestic product (GDP) for the next three years.

After being lower for many years, South Koreas economic ranking climbed to the 10th spot in 2018.After falling to 12th in 2019, it climbed back to 10th place last year.

Asias fourth largest economy is showing signs of a strong recovery from the pandemic, with robust exports and rising consumption.According to the IMF, South Koreas economy would grow by 4.3 percent in this year and 3.3% next year.Seouls government raised its growth forecast for 2022 to 3.1% last week.It stated that private and export spending would likely grow despite increased economic uncertainty.

This projection exceeds the June 3 percent growth prediction.int/sh #predicts #SKorea #ranked #terms #economy #consecutive #Seoul.