Kimberly Amadeo is an expert on U.S. and world economies and investing, with over 20 years of experience in economic analysis and business strategy. She is the President of the economic website World Money Watch.
Đang xem: Gdp per capita là gì
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How to Calculate GDP Per Capita
The formula is GDP divided by population. If you’re looking at just one point in time in one country, then you can use regular “nominal” GDP divided by the current population. “Nominal” means GDP per capita is measured in current dollars.
If you want to compare GDP per capita between countries, you must use purchasing power parity. That creates parity, or equality, between economies by comparing a basket of similar goods. It”s a complicated formula that values a country”s currency by what it can buy in that country, not just by its value as measured by its exchange rates.
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Economies and GDP Per Capita
The U.S. GDP was $20.6 trillion in 2019. But one reason America is so prosperous is that it has so many people.
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The United States is the third most populous country after China and India. The United States had to spread its wealth among 328.2 million people in 2019. As a result, the 2019 U.S. GDP per capita was $65,240. That makes it one of the most prosperous countries per person.
When talking about China, the most populous country on earth, it produced a GDP of $27.31 trillion (factoring in purchasing power parity) in 2019. But its GDP per capita was only $19,098 because it has more than four times the number of people as the United States. It”s the most populous country in the world, with 1.43 billion people.
The European Union, an economy made up of 27 separate countries, is the world”s second most prosperous economy, at $22.7 trillion in 2019. Its GDP per capita was only $43,206 since it must spread the wealth among 513.5 million people for that year.
In 2019, India”s GDP was $11 trillion but spread among its 1.38 billion people, its GDP per capita was $7,971.
Countries With Highest GDP Per Capita in 2019
The countries with the highest economic production per person have thriving economies and few residents. The top 10 GDP per capita according to Statistics Times are:
Luxembourg: $113,197Switzerland:$83,717Macao: $81,152Norway: $77,976Ireland: $77,771Qatar: $69,688Iceland: $67,037United States: $65,112Singapore: $63,987Denmark: $59,795
Countries With Lowest GDP Per Capita in 2019
The world”s poorest countries, as measured by GDP per capita (Statistics Times), are:
South Sudan: $275Burundi: $310Eritrea: $343Malawi: $371Niger: $405Central African Republic: $448Madagascar: $464Mozambique: $485Democratic Republic of the Congo: $501Afghanistan: $513
GDP per capita is a country’s economic output divided by its population.It”s a good representation of a country”s standard of living.It also describes how much citizens benefit from their country”s economy.Purchasing power parity compares different countries’ economic output.
