GDP per capita is a special macroeconomic indicator that reflects the state of the country’s economy relative to its citizens. Total GDP is the market value of all services and goods produced in a country that are ready for consumption. All industries are taken into account, and, as a rule, the time period for this indicator is the calendar year. Overall GDP is not suitable for determining the well-being of a country's citizens. To assess the standard of living of a state's citizens, it is GDP per capita that is used, and when calculated correctly, it provides the most reliable data, which is used by all economists and analysts, with the exception of special cases. Thus, in 2019, the United States ranks first in the world in terms of overall indicators, and on a per capita basis, China was only in 2nd place. That is, 1 billion dollars per 10 million people is one thing, and a completely different picture will be with the same GDP per 100 million people. In addition, one should not confuse the well-being of citizens with well-being. The calculation of the latter takes into account more social indicators than economic ones.
The formula for calculating GDP per capita is very simple: total GDP/population of the country.
Recall that the GDP formula is:
GDP=Consumption+Investment+Government Expenditure+ (Export-Import)
With a GDP of 1 billion and a population of 10 million, the same figure per capita will be equal to: 1,000,000,000/10,000,000=100, and with a population of 100 million – 10.
GDP is one of the most important macroeconomic indicators, and fully reflects the state of the economy, because its calculation includes all industries, all production, costs and expenses. It is also the main indicator of the country's economy. Thus, the growth and decline of GDP affect stock indices, the policies of the Central Bank and the government apparatus as a whole.
However, often with equal economic volumes, states can have a fairly large gap in the level of social development. If we consider the same per capita rate and take into account only the real results of economic policy in the social sphere, then the difference will be visible in three main groups of needs:
- basic goods, which include water, food, first aid, satisfactory sanitation, personal safety and quality of housing;
- basic benefits, including a good environmental situation, accessibility of communications and information, general education and health care;
- opportunity for population development. This category includes equality, civil rights, accessibility to higher and additional education.
New Zealand is considered one of the most prosperous countries, but it ranks only 34th in terms of GDP per capita.
Thus, the indicator under consideration for the most part reflects the state of the economy relative to the population, but does not indicate the absolute well-being of residents of the top five countries.
GDP per capita of the world's countries in 2018-2019
Country ratings based on macroeconomic indicators are compiled by the World Monetary Fund, the World Bank, the UN and even the CIA. Below is a list of 10 countries by GDP per capita for 2018 - 2019. Payment is made in US dollars.
Hong Kong is part of the People's Republic of China, but it is designated as a special administrative region. In the ratings, it stands out separately from the rest of the country, as it is the main financial center of Asia. In addition, the Chinese government does not interfere in the economy of this area, which is not typical for the country as a whole.
GDP per capita in Russia
Russia's GDP per capita, according to the World Bank, was $11,288 in 2019. The main macroeconomic indicator is influenced by many circumstances, from the situation within the country, its wealth of natural and human resources, political activity, to external criteria (wars, relations between countries etc.).
Based on the data presented, we can conclude that analysts expect some GDP growth. However, the growth rate is not too high: only 3-5%.
An economic indicator such as GDP per capita is often used to assess the economic condition of a country. Everyone knows about the existence of GDP. People often hear this term in economic news. But, unfortunately, not everyone knows what it is.
GDP is gross domestic product. To put it in simple words, then GDP is an indicator of the value of goods and services produced by a particular state. These are all products and services produced in the state, which are expressed in monetary terms. This indicator is often expressed in US dollars due to the fact that the US dollar is one of the most stable currencies in the world.
Today there are two types of GDP:
- Nominal is the total volume of products and services produced, measured in current prices, that is, in values that are relevant today.
- Real GDP is the total volume of goods and services produced over a certain period of time, measured in basic values. Basic costs are called constant prices.
The difference between nominal and real GDP is that real GDP can only be affected by changes in the volume of goods produced. While changes in nominal GDP are directly affected by the price of products and services sold.
The ratio of the nominal to the real indicator in the economy is called the GDP deflator.
In other words, the deflator is an indicator of the difference in the general level of values in an economic sector.
We divide the total volume of GDP by the number of citizens living in the state.
The most developed states
The most developed countries in the world in 2018-2019, according to the ranking of countries, were the following states:
America entered the ranking of countries with the highest GDP thanks to corporations such as Microsoft and Google. Every year in America there is a growth of the country's GDP of 2.2%. The figure per person is $55,000.
- with a GDP of 11.2119 trillion US dollars. China does not leave its position and still remains one of the most leading economies in the world. According to the forecasts of economists and financial analysts, China has every opportunity to soon displace the United States of America. This is possible thanks to the intensive growth of GDP. The share of China's GDP is growing by 10% annually.
- Takes third place. Despite the fact that economists predict a partial slowdown in Japanese growth, this country today has a GDP of $4.2104 trillion.
According to statistics, the share of this republic's GDP increases by 1.5%. The increase in indicators is due to the established export of cars, household appliances, computers and other electronic goods. This country has a per capita GDP of $39,000.
- It ranks fourth with a GDP level of 3413.5 trillion US dollars per year. The country was able to achieve such indicators thanks to the export of Volkswagen cars, industrial equipment and household appliances. Compared to the previous year, the share of gross domestic product in Germany increased by 0.4%. GDP per capita is US$46,000.
- The last place in the top 5 developed countries of the world was taken by. The level of the indicator at around 2853.4 trillion dollars allowed Great Britain to oust France.
List of developed countries
Below are the top 20 largest countries in the world, which took leading positions in terms of GDP after the five most developed countries on the planet.
The name of the country | GDP (expressed in billions of US dollars) |
France | 2464.8 |
India | 2288.7 |
Italy | 1848.7 |
Brazil | 1534.8 |
Canada | 1462.3 |
South Korea | 1321.2 |
Spain | 1242.4 |
Australia | 1200.8 |
Russia | 1132.7 |
Mexico | 1082.4 |
Indonesia | 937.0 |
Netherlands | 762.5 |
Türkiye | 751.2 |
Switzerland | 651.8 |
Saudi Arabia | 618.3 |
Nigeria | 538.0 |
Sweden | 512.6 |
Taiwan | 508.8 |
Poland | 473.5 |
Belgium | 465.2 |
Indicators in EU countries
The European Union is a very powerful and unique economic structure. In 2019.
World GDP for 2018
Top 10 most economically developed countries of the European Union (2018 statistics):
- The most developed country in the world, part of the European Union, is Liechtenstein. Despite its small area, the country has an incredibly strong economy, as evidenced by its per capita GDP of €85,400 in 2016.
- Second place goes to the Netherlands. This country has a GDP per capita of 42,400 euros.
- Ireland ranks third. The GDP per capita is 40,000 euros.
- In Austria, the GDP per capita is 39,700 euros.
- Sweden has an indicator of 38,900 euros.
- In Germany, the gross domestic product is 38,800 euros.
- According to statistics in Finland, the GDP level is 38,100 euros.
- Eighth place is occupied by Italy with a GDP of 35,800 euros.
- The UK is experiencing a GDP growth rate. In 2015, this figure was 34,600 euros.
- Tenth place is occupied by Spain with an indicator of 33,700 euros.
Table: GDP level of European countries that are members of the EU
Republic name | GDP per person (expressed in euros) |
Denmark | 31 500 |
Cyprus | 30 700 |
Belgium | 28 100 |
Slovakia | 26 100 |
Slovenia | 25 300 |
France | 25 800 |
Portugal | 24 900 |
Hungary | 24 500 |
Poland | 24 400 |
Greece | 23 600 |
Estonia | 22 900 |
Czech | 19 800 |
Romania | 19 700 |
Lithuania | 18 000 |
Latvia | 16 700 |
Bulgaria | 15 800 |
Malta | 14 600 |
Croatia | 12 600 |
The "weakest" states
Forex technical analysis economists conducted research on the forecast for GDP growth and decline for 2019. According to the findings, the list of countries with weak economies in 2019 will consist of the following states:
Forecast of the dynamics of GDP growth in other countries of the world
Table: list of countries whose GDP levels are expected to increase in 2019
Republic name | Expected growth (expressed in %) | Probability of an economic crisis (expressed in %) |
India | 7.4 | 0 |
Vietnam | 6.6 | 0 |
China | 6.5 | 12 |
Sri Lanka | 6.4 | 0 |
Philippines | 6.0 | 5 |
Dominican Republic | 5.4 | 0 |
Indonesia | 5.2 | 10 |
Malaysia | 4.5 | 10 |
Bolivia | 3.9 | 20 |
Peru | 3.8 | 10 |
Romania | 3.8 | 10 |
Poland | 3.5 | 5 |
Albania | 3.5 | 0 |
Slovakia | 3.3 | 8 |
Thailand | 3.2 | 5 |
Iceland | 3.1 | 0 |
Türkiye | 3.0 | 20 |
Bosnia | 3.0 | 0 |
South Korea | 2.9 | 18 |
Colombia | 2.8 | 8 |
Mexico | 2.8 | 10 |
Sweden | 2.8 | 10 |
Spain | 2.7 | 5 |
Czech | 2.7 | 10 |
Australia | 2.6 | 15 |
Bulgaria | 2.5 | 10 |
USA | 2.5 | 15 |
Armenia | 2.5 | 0 |
Hungary | 2.4 | 0 |
New Zealand | 2.3 | 13 |
Great Britain | 2.3 | 13 |
Uruguay | 2.0 | 25 |
Kazakhstan | 2.0 | 33 |
Taiwan | 2.0 | 55 |
Germany | 1.8 | 8 |
Canada | 1.8 | 25 |
Serbia | 1.6 | 18 |
France | 1.4 | 10 |
Norway | 1.4 | 15 |
Ukraine | 1.4 | 60 |
South Africa | 1.4 | 25 |
Italy | 1.3 | 13 |
Denmark | 1.9 | 0 |
Kuwait | 1.9 | 0 |
Chile | 2.3 | 5 |
Azerbaijan | 2.4 | 0 |
In the EU countries, GDP levels are expected to increase by 1.7%. The probability of a recession is 15%.
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Long holidays and, frankly speaking, far from spring weather, created a certain supply of free time. I wandered through websites on the internet and looked at some economic statistics. Against the backdrop of pompous and large-scale celebrations, the country’s economic indicators do not look very good, to put it mildly.
GDP in absolute terms 2016, $ billion.
Here everything seems to be quite decent, in accordance with the “economic power” of the country, an honorable 13th place.
Place | A country | |
---|---|---|
1 | USA | 19284.99 |
2 | China | 12263.43 |
3 | Japan | 4513.75 |
4 | Germany | 3591.69 |
5 | Great Britain | 2885.48 |
6 | France | 2537.92 |
7 | India | 2487.94 |
8 | Italy | 1901.67 |
9 | Brazil | 1556.44 |
10 | Canada | 1530.7 |
11 | South Korea | 1379.32 |
12 | Spain | 1291.36 |
13 | Russia | 1267.55 |
14 | Australia | 1262.34 |
15 | Mexico | 1166.6 |
16 | Indonesia | 1024 |
17 | Netherlands | 794.25 |
18 | Türkiye | 791.24 |
19 | Switzerland | 665.48 |
20 | Saudi Arabia | 659.66 |
GDP per capita by country of the world 2016, in $
The success here is clearly not very good ((and the place is far from honorable.
73 | Russia | 7742.58 |
Russian GDP per capita chart
On the graph of Russia's GDP by year, the GDP is drawn with a return to the level of 1993-2000.
Average salary by country 2016: infographics
Here place 51 is also not a prize...
And where are we in the prizes?
Russia has reached third place in the world in military spending
Russia has taken third place in the world in military spending. The United States and China spend the most on maintaining the army and producing weapons. This was reported by TASS with reference to the annual report of the Stockholm International Peace Research Institute (SIPRI).
As stated in the SIPRI report, in 2016 Russia increased its spending by 5.9 percent, which amounted to $69.2 billion. China's military spending increased 5.4 percent to $215 billion last year, while top of the list the United States increased its spending 1.7 percent to $611 billion.
Draw your own conclusions.
GDP is a measure of the gross domestic product produced in the country as a whole during the year and divided by the population. It is a basic indicator of economic development or how rich or poor a country is. Moreover, it is an indicator that smoothes out both the scale of different states and seasonal, current market fluctuations.
We try to provide fresh and accurate information. Please note that if the user wants to independently clarify, update or double-check data for countries of the world, the differences should be taken into account:
- Calculation methods. In many countries, a similar indicator is preferred - “gross national product”. GNP adjusts for the fact that reporting corporations are typically headquartered in some countries and have their main turnover in other countries.
- Local features. In the US, the influence comes from intellectual property, whose production figures are estimated to be inflated. In small trading countries, GDP is significantly affected by the dollar volume of services, which is sensitive to exchange rates.
- Political situation. China and Indochina tend to constantly understate their GDP and smooth out trends in its change. And the CIA's review of The World Factbook underestimates the indicators of countries condemned by the State Department, and overestimates the indicators of countries dependent on the United States.
- Difference purchasing power parity. Depends on the real and official dollar exchange rate, internal and external exchange rate differences.
Item No. | A country | GDP volume - per capita (PPP) in $ | Information date |
1 | Qatar | $129 700 | 2017 |
2 | Luxembourg | $102 000 | 2017 |
3 | Macau | $96 100 | 2017 |
4 | Liechtenstein | $89 400 | 2009 |
5 | Singapore | $87 100 | 2017 |
6 | Bermuda | $85 700 | 2013 |
7 | Isle Of Man | $83 100 | 2007 |
8 | Brunei | $79 700 | 2017 |
9 | Monaco | $78 700 | 2013 |
10 | Kuwait | $71 300 | 2017 |
11 | Ireland | $69 400 | 2017 |
12 | Norway | $69 300 | 2017 |
13 | United Arab Emirates | $67 700 | 2017 |
14 | Sint Maarten | $66 800 | 2014 |
15 | San Marino | $65 300 | 2017 |
16 | Switzerland | $59 400 | 2017 |
17 | Hong Kong | $58 100 | 2017 |
18 | USA | $57 300 | 2017 |
19 | Jersey | $57 000 | 2005 |
20 | Falkland (Malvinas) | $55 400 | 2002 |
21 | Saudi Arabia | $54 100 | 2017 |
22 | Guernsey | $52 300 | 2014 |
23 | Netherlands | $50 800 | 2017 |
24 | Bahrain | $50 300 | 2017 |
25 | Sweden | $49 700 | 2017 |
26 | Australia | $48 800 | 2017 |
27 | Germany | $48 200 | 2017 |
28 | Iceland | $48 100 | 2017 |
29 | Austria | $47 900 | 2017 |
30 | Taiwan | $47 800 | 2017 |
31 | Denmark | $46 600 | 2017 |
32 | Canada | $46 200 | 2017 |
33 | Belgium | $44 900 | 2017 |
34 | Cayman islands | $43 800 | 2004 |
35 | Oman | $43 700 | 2017 |
36 | Gibraltar | $43 000 | 2008 |
37 | Great Britain | $42 500 | 2017 |
38 | France | $42 400 | 2017 |
39 | British Virgin Islands | $42 300 | 2010 |
40 | Finland | $41 800 | 2017 |
41 | Japan | $38 900 | 2017 |
42 | New Caledonia | $38 800 | year 2012. |
43 | Equatorial Guinea | $38 700 | 2017 |
44 | Malta | $37 900 | 2017 |
45 | South Korea | $37 900 | 2017 |
46 | Greenland | $37 900 | 2008 |
47 | European Union | $37 800 | 2017 |
48 | Puerto Rico | $37 700 | 2017 |
49 | Andorra | $37 200 | It was 2011. |
50 | New Zealand | $37 100 | 2017 |
51 | Faroe islands | $36 600 | 2014 |
52 | Spain | $36 500 | 2017 |
53 | Italy | $36 300 | 2017 |
54 | Virgin Islands | $36 100 | 2013 |
55 | Saint Pierre and Miquelon | $34 900 | 2006 |
56 | Israel | $34 800 | 2017 |
57 | Cyprus | $34 400 | 2017 |
58 | Czech | $33 200 | 2017 |
59 | Slovenia | $32 000 | 2017 |
60 | Trinidad and Tobago | $31 900 | 2017 |
61 | Slovakia | $31 200 | 2017 |
62 | Guam | $30 500 | 2013 |
63 | Lithuania | $29 900 | 2017 |
64 | Estonia | $29 500 | 2017 |
65 | Turks and Caicos Islands | $29 100 | 2007 |
66 | Portugal | $28 500 | 2017 |
67 | Seychelles | $28 000 | 2017 |
68 | Poland | $27 700 | 2017 |
69 | Hungary | $27 200 | 2017 |
70 | Malaysia | $27 200 | 2017 |
71 | Greece | $26 800 | 2017 |
72 | French polynesia | $26 100 | year 2012. |
73 | Russia | $26 100 | 2017 |
74 | Kazakhstan | $25 700 | 2017 |
75 | Latvia | $25 700 | 2017 |
76 | Saint Kitts and Nevis | $25 500 | 2017 |
77 | Aruba | $25 300 | It was 2011. |
78 | Bahamas, | $24 600 | 2017 |
79 | Antigua and Barbuda | $24 100 | 2017 |
80 | Chile | $24 000 | 2017 |
81 | Panama | $22 800 | 2017 |
82 | Croatia | $22 400 | 2017 |
83 | Romania | $22 300 | 2017 |
84 | Uruguay | $21 600 | 2017 |
85 | Türkiye | $21 100 | 2017 |
86 | Mauritius | $20 500 | 2017 |
87 | Argentina | $20 200 | 2017 |
88 | Bulgaria | $20 100 | 2017 |
89 | Gabon | $19 300 | 2017 |
90 | Saint Martin | $19 300 | 2005 |
91 | Mexico | $18 900 | 2017 |
92 | Lebanon | $18 500 | 2017 |
93 | Iran | $18 100 | 2017 |
94 | Azerbaijan | $17 700 | 2017 |
95 | Belarus | $17 500 | 2017 |
96 | Turkmenistan | $17 300 | 2017 |
97 | Barbados | $17 200 | 2017 |
98 | Montenegro | $17 000 | 2017 |
99 | Botswana | $16 900 | 2017 |
100 | Thailand | $16 800 | 2017 |
101 | Iraq | $16 500 | 2017 |
102 | Costa Rica | $16 100 | 2017 |
103 | Dominican Republic | $15 900 | 2017 |
104 | China | $15 400 | 2017 |
105 | Palau | $15 300 | 2017 |
106 | Maldives | $15 300 | 2017 |
107 | Suriname | $15 200 | 2017 |
108 | Brazil | $15 200 | 2017 |
109 | Venezuela | $15 100 | 2017 |
110 | Curacao | $15 000 | 2004 |
111 | Algeria | $15 000 | 2017 |
112 | Nauru | $14 800 | 2015 |
113 | Macedonia | $14 500 | 2017 |
114 | Libya | $14 200 | 2017 |
115 | Colombia | $14 200 | 2017 |
116 | Serbia | $14 200 | 2017 |
117 | Grenada | $14 100 | 2017 |
118 | Northern Mariana Islands | $13 300 | 2013 |
119 | South Africa | $13 200 | 2017 |
120 | American Samoa | $13 000 | 2013 |
121 | Peru | $13 000 | 2017 |
122 | Cook Islands | $12 300 | 2010 |
123 | Mongolia | $12 200 | 2017 |
124 | Anguilla | $12 200 | 2008 |
125 | Egypt | $12 100 | 2017 |
126 | Saint Lucia | $12 000 | 2017 |
127 | Albania | $11 900 | 2017 |
128 | Namibia | $11 800 | 2017 |
129 | Tunisia | $11 700 | 2017 |
130 | Indonesia | $11 700 | 2017 |
131 | Cuba | $11 600 | 2014 |
132 | Dominica | $11 400 | 2017 |
133 | Saint Vincent and the Grenadines | $11 300 | 2017 |
134 | Sri Lanka | $11 200 | 2017 |
135 | Jordan | $11 100 | 2017 |
136 | Bosnia and Herzegovina | $11 000 | 2017 |
137 | Ecuador | $11 000 | 2017 |
138 | Georgia | $10 100 | 2017 |
139 | Kosovo | $10 000 | 2017 |
140 | Swaziland | $9 800 | 2017 |
141 | Paraguay | $9 400 | 2017 |
142 | Fiji | $9 400 | 2017 |
143 | Jamaica | $9 000 | 2017 |
144 | Salvador | $8 900 | 2017 |
145 | Armenia | $8 900 | 2017 |
146 | Montserrat | $8 500 | 2006 |
147 | Morocco | $8 400 | 2017 |
148 | Belize | $8 200 | 2017 |
149 | Ukraine | $8 200 | 2017 |
150 | Butane | $8 100 | 2017 |
151 | Guatemala | $7 900 | 2017 |
152 | Guyana | $7 900 | 2017 |
153 | Saint Helena, Ascension and Tristan da Cunha | $7 800 | FY09/10. |
154 | Philippines | $7 700 | 2017 |
155 | Bolivia | $7 200 | 2017 |
156 | Congo, Republic | $6 800 | 2017 |
157 | Angola | $6 800 | 2017 |
158 | Cape Verde | $6 700 | 2017 |
159 | India | $6 700 | 2017 |
160 | Uzbekistan | $6 500 | 2017 |
161 | Vietnam | $6 400 | 2017 |
162 | Burma | $6 000 | 2017 |
163 | Nigeria | $5 900 | 2017 |
164 | Niue | $5 800 | 2003 |
165 | Laos | $5 700 | 2017 |
166 | Samoa | $5 400 | 2017 |
167 | Honduras | $5 300 | 2017 |
168 | Tonga | $5 300 | 2017 |
169 | Nicaragua | $5 300 | 2017 |
170 | Moldova | $5 200 | 2017 |
171 | Pakistan | $5 100 | 2017 |
172 | Sudan | $4 500 | 2017 |
173 | Mauritania | $4 400 | 2017 |
174 | Ghana | $4 400 | 2017 |
175 | West Bank | $4 300 | 2014 |
176 | Timor-Leste | $4 200 | 2017 |
177 | Bangladesh | $3 900 | 2017 |
178 | Zambia | $3 900 | 2017 |
179 | Wallis and Futuna | $3 800 | 2004 |
180 | Cambodia | $3 700 | 2017 |
181 | Ivory | $3 600 | 2017 |
182 | Kyrgyzstan | $3 500 | 2017 |
183 | Tuvalu | $3 500 | 2017 |
184 | Papua New Guinea | $3 500 | 2017 |
185 | Kenya | $3 400 | 2017 |
186 | Djibouti | $3 400 | 2017 |
187 | Cameroon | $3 300 | 2017 |
188 | Marshall Islands | $3 300 | 2017 |
189 | Sao Tome and Principe | $3 300 | 2017 |
190 | Tanzania | $3 100 | 2017 |
191 | Lesotho | $3 100 | 2017 |
192 | Micronesia, Federated States | $3 000 | 2017 |
193 | Tajikistan | $3 000 | 2017 |
194 | Syria | $2 900 | 2015 |
195 | Vanuatu | $2 600 | 2017 |
196 | Senegal | $2 600 | 2017 |
197 | Chad | $2 600 | 2017 |
198 | Yemen | $2 500 | 2017 |
199 | West Sahara | $2 500 | 2007 |
200 | Nepal | $2 500 | 2017 |
201 | Mali | $2 300 | 2017 |
202 | Benin | $2 200 | 2017 |
203 | Uganda | $2 100 | 2017 |
204 | Zimbabwe | $2 000 | 2017 |
205 | Solomon islands | $2 000 | 2017 |
206 | Afghanistan | $2 000 | 2017 |
207 | Ethiopia | $1 900 | 2017 |
208 | Rwanda | $1 900 | 2017 |
209 | Haiti | $1 800 | 2017 |
210 | Burkina Faso | $1 800 | 2017 |
211 | Korea, North | $1 800 | 2014 |
212 | Kiribati | $1 800 | 2017 |
213 | South Sudan | $1 700 | 2017 |
214 | Gambia | $1 700 | 2017 |
215 | Sierra Leone | $1 700 | 2017 |
216 | Guinea-Bissau | $1 600 | 2017 |
217 | Madagascar | $1 500 | 2017 |
218 | Comoros | $1 500 | 2017 |
219 | Togo | $1 500 | 2017 |
220 | Eritrea | $1 300 | 2017 |
221 | Guinea | $1 300 | 2017 |
222 | Mozambique | $1 200 | 2017 |
223 | Niger | $1 100 | 2017 |
224 | Malawi | $1 100 | 2017 |
225 | Tokelau | $1 000 | 1993 is. |
226 | Liberia | $900 | 2017 |
227 | Congo, Democratic Republic | $800 | 2017 |
228 | Burundi | $800 | 2017 |
229 | Central African Republic | $700 | 2017 |
230 | Somalia | $400 | 2014 |