Income Per Capita Ranking 2020

According to 2013 data from gallup the median household income worldwide is 9 733.

Income per capita ranking 2020. Gdp per capita is often considered an indicator of a country s standard of living. We base this assignment on gross national income gni per capita current us calculated using the atlas method. The smallest budget per capita exists in the democratic republic of the congo. No claims are made regarding the accuracy of gdp per capita ppp information contained here.

The imf says only china vietnam and egypt will achieve growth in per capita gdp in the coronavirus hit year of 2020. All suggestions for corrections of any errors about gdp per capita ppp should be addressed to the cia. Countries with the lowest median income include libera burundi mali benin togo sierra leone and madagascar. In this article we ll explore the median income around the world.

The world bank classifies the world s economies into four income groups high upper middle lower middle and low. Its per capita income will increase with an annualized growth rate of 9 1 percent over the 25 year span. 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. Revisions to national accounts methods and data can also influence gni per capita.

However this is problematic because gdp per capita is not a measure of personal income. Average income around the world the worldwide highest income is earned in monaco. In 2020 luxembourg would have the highest gdp per capita while burundi would be the poorest economy in nominal and ppp terms. The updated data on gni per capita data for 2019 can be accessed here.

The average income is calculated by gross national income and population. To keep the income classification thresholds fixed in real terms they are adjusted annually for inflation. The information regarding gdp per capita ppp on this page is re published from the cia world factbook 2020. Per capita income by state 2020 on average the everyday american citizen rakes in around 51 000 in a given year.

In our comparison over 78 countries the usa comes 9th with an average income of 65 760 usd. 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. Per capita income is calculated by looking at the annual salaries of people across the nation and then finding the average dollar amount of everyone s income.