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Development Overview

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Overview of Korea’s development experience

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Territorial Development

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1945 ~ 1959 1960 ~ 1979 1980 ~ 1997 1998 ~ Present
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GDP per capita

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GDP per capita is gross domestic product divided by midyear population.
GDP is the sum of gross value added by all resident producers in the
economy plus any product taxes and minus any subsidies not included in the
value of the products. It is calculated without making deductions for
depreciation of fabricated assets or for depletion and degradation of natural
resources. Data are in current U.S. dollars.
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GNI per capita, Atlas method

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GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes(less subsidies) not included in the valuation of output plus net receipts of primary income(compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a givenyear and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States.
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