Korean economy ranks 15th worldwide in 2009

The Korean economy ranked the 15th largest worldwide last year, marking the second consecutive year of no change in the global standings, a report showed Wednesday.

The country's nominal gross domestic product (GDP), the broadest measure of economic performance, reached $832.5 billion in 2009, down from $929.1 billion the previous year, according to the report by the World Bank.

The global ranking of the Korean economy stayed flat last year mainly because Asia's fourth-largest economy chalked up near zero growth in 2009 amid stable consumer inflation, experts said.

The Korean economy grew 0.2 percent in 2009 while the consumer prices rose 2.8 percent. The local currency gained 8.16 percent against the U.S. dollar last year.

The United States ranked first with $14.26 trillion, followed by Japan with $5.07 trillion and China with $4.91 trillion, the report showed.

Meanwhile, South Korea's nominal gross national income (GNI), reflecting the actual purchasing power of the population, came in at $966.6 billion last year, ranking 13th globally, it said.

Korea's GNI per capita stood at $19,830 in 2009, making its global ranking decline five notches to 54th. The figures were calculated based on an average of the won-dollar exchange rate in the past three years.