Income Per Capita Per Country

Comparisons of national income are also frequently made on the basis of purchasing power parity ppp to adjust for differences in the cost of living in different countries.

Income per capita per country. 2019 in this case. The world bank assigns the world s economies to four income groups low lower middle upper middle and high income countries. 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. Online tool for visualization and analysis.

Belgium had a population of 11 4 million and a gdp of 597 billion in 2018. The average wage is a measure of total income after taxes divided by total number of employees employed. The gross national income gni is the sum of the value added by all the goods and services produced within a determined country including foreign investment to which are added any product taxes excluding subsidies and the value earned by the nation. In this article the average wage is adjusted for living expenses purchasing power parity ppp the wage distribution is right skewed.

Out of 193 economies gdp nominal per capita of the 29 economies would increase and 164 economies would decrease in 2020 compared to 2019. Lucia russia grenada and mauritius from the elite 10000 per capita gdp club in 2020 there would be a total of 65 economies in this list. According to 2013 data from gallup the median household income worldwide is 9 733. The majority of people earn less than the average wage for an alternative measure the median household income uses median instead of average.

Norway s rich natural resources and fiscal responsibility allows it to have an incredibly high level of gross national income per capita. Gdp per capita is often considered an indicator of a country s standard of living. With the exit of st. Gdp per capita ppp constant 2017 international inflation gdp deflator annual oil rents of gdp download.

Countries with the lowest median income include libera burundi mali benin togo sierra leone and madagascar. This data is based on self reported data that was gathered between 2006 and 2012. However this is problematic because gdp per capita is not a measure of personal income. 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.

Learn how the world bank group is helping countries with covid 19 coronavirus. Gdp per capita ppp gdp per capita ppp compares gdp on a purchasing power parity basis divided by population as of 1 july for the same year. Belgium another european country makes the top 10 list of countries based on 36 044 in disposable income per capita.