Per Capita Income Of Countries

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

Per capita income of countries. This page is a list of the countries of the world by gross domestic product at purchasing power parity per capita i e the purchasing power parity ppp value of all final goods and services produced within a country in a given year divided by the average or mid year population for the same year. According to 2013 data from gallup the median household income worldwide is 9 733. 2019 in this case. With per capita income of 5012 u k.

With the exit of st. 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. 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. In our comparison over 78 countries the usa comes 9th with an average income of 65 760 usd.

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. On dividing all annual incomes and profits by the amount of the countrie s population it will show the average income per capita. 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. This data is based on self reported data that was gathered between 2006 and 2012.

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. With per capita income of 38250 germany with a per capita income of 44010 and france with per capita income of 41750 in 2012 is high income countries and is described as developed economies. On the other hand u s. The world bank assigns the world s economies to four income groups low lower middle upper middle and high income countries.

Norway s rich natural resources and fiscal responsibility allows it to have an incredibly high level of gross national income per capita. The classifications are updated each year on july 1 and are based on gni per capita in current usd using the atlas method exchange rates of the previous year i e. Gdp per capita is often considered an indicator of a country s standard of living. 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.

Countries with the lowest median income include libera burundi mali benin togo sierra leone and madagascar.