What does the GDP per capita data show?
What does the GDP per capita data show?
At its most basic interpretation, per capita GDP shows how much economic production value can be attributed to each individual citizen. Alternatively, this translates to a measure of national wealth since GDP market value per person also readily serves as a prosperity measure.
What is the current GDP per capita?
Data are in current U.S. dollars. U.S. gdp per capita for 2020 was $63,544, a 2.66% decline from 2019….U.S. GDP Per Capita 1960-2021.
| U.S. GDP Per Capita – Historical Data | ||
|---|---|---|
| Year | GDP Per Capita (US $) | Annual Growth Rate (%) |
| 2019 | $65,280 | 3.51% |
| 2018 | $63,064 | 4.92% |
| 2017 | $60,110 | 3.60% |
What is the average GDP per capita?
GDP per capita in the United States averaged 36207.44 USD from 1960 until 2020, reaching an all time high of 55886.18 USD in 2019 and a record low of 17578.14 USD in 1960.
Where can I find GDP data?
Gross Domestic Product data can be found in the National Accounts dataset portal, and in the Data Tables tab of the International Financial Statistics dataset portal.
Which country has the highest GDP per capita 2020?
GDP (Nominal) per capita Ranking
| Code | Country/Economy | GDP per capita (Nominal) ($) |
|---|---|---|
| Rank | ||
| World | ||
| LUX | Luxembourg | 1 |
| CHE | Switzerland | 2 |
What is an example of GDP per capita?
Example of Per Capita To calculate GDP per capita, we get the total GDP and divide by the total population. In this case it is: So in 2019, the GDP per capita of the US was $65,335. If we now compare that to India, where the population was around 1.36 trillion, with a GDP of $2.72 trillion.
Which country has highest per capita income 2020?
In 2020, Germany ranked 16th with an estimated GDP of about 45,732.8 U.S. dollars per capita….The 20 countries with the largest gross domestic product (GDP) per capita in 2020 (in U.S. dollars)
| Characteristic | GDP per capita in U.S. dollars |
|---|---|
| Luxembourg | 116,921.11 |
| Switzerland | 86,849.47 |
| Ireland | 83,849.81 |
| Norway | 67,176.43 |
Which country has the lowest GDP per capita 2020?
Burundi
In 2020, Burundi reported the lowest per-capita GDP ever, closely-followed by South Sudan and Somalia….The 20 countries with the lowest gross domestic product (GDP) per capita in 2020 (in U.S. dollars)
| Characteristic | GDP per capita in U.S. dollars |
|---|---|
| Burundi | 253.59 |
Which country has highest GDP per capita 2020?
Which country is highest per capita income?
GDP per Capita
| # | Country | GDP (nominal) per capita (2017) |
|---|---|---|
| 1 | Qatar | $61,264 |
| 2 | Macao | $80,890 |
| 3 | Luxembourg | $105,280 |
| 4 | Singapore | $56,746 |
What are the 3 types of GDP?
Ways of Calculating GDP. GDP can be determined via three primary methods. All three methods should yield the same figure when correctly calculated. These three approaches are often termed the expenditure approach, the output (or production) approach, and the income approach.
What countries are in OECD?
The Organisation for Economic Co-operation and Development ( OECD) is an international economic organisation of 34 countries, founded in 30 September 1961 to stimulate economic progress and world trade. OECD countries are Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France,…
How do you calculate per capita GDP?
Per capita means how much money or income. So GDP is calculated by the gross income of each individual and total GDP of the country divided by number of population in the country.
What country has the most GDP per capita?
China has the largest GDP in the world. It produced $25.3 trillion in 2018. But its GDP per capita was only $18,120 because it has four times the number of people as the United States.
What is the formula for real GDP per capita?
The formula for real GDP per capita depends on what data you have available. Let’s start with the simplest. If you already know real GDP (R), then you divide it by the population (C): R / C = real GDP per capita.