Income Per Capita Global

This however does not take inflation into account.

Income per capita global. In 60 years the per capita income has increased by 13 times. Per capita income in ppp which gives better estimates about living standard is 1 64 times greater than nominal. Comparisons of national wealth are frequently made on the basis of nominal gdp and savings not just income which do not reflect differences in the cost of living in different countries see list of countries by gdp nominal per capita. At its most basic interpretation per capita gdp shows how much economic production value can.

Gdp per capita ppp current international gdp per capita current lcu gdp per capita ppp constant 2017 international inflation gdp deflator annual oil rents of gdp download. For example if the per capita income for a nation rose from 50 000 per. The total value of world income is closing in on 70 trillion 43 9tn per year andthere are seven billion people in the world so the average income is heading towards 10 000 6 273 per. All countries and economies.

In 2016 the us per capita income was 33 205. Ppp takes into account the relative cost of living rather than using only exchange rates therefore providing a more accurate picture of the real differences in income. Per capita income doesn t reflect inflation in an economy which is the rate at which prices rise over time. The smallest budget per capita exists in the democratic republic of the congo.

Global gdp per capita contracted during five years lowest of 2 9 in 2009. This list contains projected gdp per capita nominal and ppp of top 50 countries economies in current prices of year 2019 and 2020 by imf alongside their world rank compare to world s average gdp growth rate and gdp. Online tool for visualization and analysis. In our comparison over 78 countries the usa comes 9th with an average income of 65 760 usd.

Average income around the world the worldwide highest income is earned in monaco. In 1967 the per capita income was 2 464. The table below lists countries in the world ranked by gdp at purchasing power parity ppp per capita along with the nominal gdp per capita. Hence using a ppp basis is arguably more useful when comparing generalized differences in living standards between nations because ppp takes into account.

The average income is calculated by gross national income and population.