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This is a list of countries by nominal GDP per capita. GDP per capita is often considered an indicator of a country's standard of living; [1] [2] however, this is inaccurate because GDP per capita is not a measure of personal income. Measures of personal income include average wage, real income, median income, disposable income and GNI per capita.
Per capita GDP growth has proved mediocre, though improving, growing by 1.6% a year from 1994 to 2009, and by 2.2% over the 2000–09 decade, [53] compared to world growth of 3.1% over the same period.
This is a list of African countries by Gross Domestic Product (GDP) per capita based on purchasing power parity (PPP). GDP (PPP) per capita is given in international dollars. Note that the list excludes overseas departments Mayotte and Réunion (France), both west of Mauritius.
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
There are many natural economic reasons for GDP-per-capita to vary between jurisdictions (e.g. places rich in oil and gas tend to have high GDP-per-capita figures). However, it is increasingly being recognized that tax havens , or corporate tax havens , have distorted economic data which produces artificially high, or inflated, GDP-per-capita ...
This is an alphabetical list of countries by past and projected Gross Domestic Product per capita, based on the Purchasing Power Parity (PPP) methodology, not on official exchange rates. Values are given in International Dollars .
In South Africa, this idea is known as the first (capitalist, high-profit industries) and second (underdeveloped) economies. [7] The first economy contributes to the majority of South Africa's wealth and is integrated within the world economy. The second economy consists of low-skilled and outdated jobs.
A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$14,005 or more in 2023, calculated using the Atlas method. [1] While the term "high-income" is often used interchangeably with " First World " and " developed country ", the technical definitions of these terms differ.