GDP per capita, PPP (constant 2017 international $)
Countries By GDP per capita, PPP (constant 2017 international $)
Key points
- The GDP per capita, PPP (constant 2017 international $) is a measure of economic output per person adjusted for purchasing power parity, indicating the average standard of living in a country.
- Luxembourg has the highest GDP per capita at $112,274.82, showcasing its high level of economic development and prosperity.
- On the other end, Burundi has the lowest GDP per capita at $711.36, highlighting significant economic challenges faced by its population.
- The average GDP per capita among the listed countries is $19,636.53, providing a benchmark for comparing individual countries' economic performance.
- This statistic reflects the disparities in economic development and living standards across countries, emphasizing the importance of economic policies and wealth distribution.
Official Definition of GDP per capita, PPP (constant 2017 international $)
GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser's prices is the sum of gross value added by all resident producers in the country plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in constant 2017 international dollars.
Importance
GDP per capita, PPP (constant 2017 international $) is a crucial macroeconomic statistic for a country. It provides a measure of the average income levels in the country, adjusted for differences in price levels and purchasing power across nations. A high value of GDP per capita indicates a higher standard of living, better access to goods and services, and overall economic prosperity for the residents of the country. This can attract investments, spur economic growth, and improve the overall well-being of the population. Conversely, a low value of GDP per capita suggests lower average income levels, limited access to goods and services, and potential economic challenges such as poverty, inequality, and limited infrastructure development. Countries with low GDP per capita may struggle to attract investments, face social unrest, and encounter difficulties in providing essential services to their population. In conclusion, the value of GDP per capita, PPP is a vital indicator of a country's economic performance and the well-being of its citizens. It can influence investment decisions, government policies, and international relations, making it a key metric for assessing a country's development and potential for growth.
Top 10 Countries by GDP per capita, PPP (constant 2017 international $)
Bottom 10 Countries by GDP per capita, PPP (constant 2017 international $)
Regions
Europe
When analyzing the GDP per capita, PPP (constant 2017 international $) for the listed countries, we observe significant disparities. Countries like Luxembourg and Ireland stand out with exceptionally high GDP per capita figures, indicating strong economic power. These nations have the advantage of high income levels, offering better standards of living and investment opportunities. On the other hand, countries such as Moldova and Ukraine have considerably lower GDP per capita values, reflecting economic challenges and lower living standards. This statistic plays a crucial role in shaping development strategies, highlighting areas needing improvement and guiding policymakers in fostering economic growth and stability within each country.
Far East: East Asia, SE Asia, Australia
The GDP per capita, PPP (constant 2017 international $) varies significantly among the selected countries. Singapore stands out with the highest GDP per capita, while Cambodia and Papua New Guinea have notably lower values. Singapore's high GDP per capita signifies a prosperous economy with strong purchasing power. However, it may also indicate income inequality. Lower GDP per capita in Cambodia and Papua New Guinea suggests lower living standards and development challenges. For countries like Indonesia and Vietnam, moderate GDP per capita levels indicate growing economies with potential for further development. Overall, the statistic reflects each country's economic strength, standard of living, and development progress.
ASEAN
Latin America
Argentina has the highest GDP per capita among the listed countries, indicating a relatively higher standard of living compared to others. Chile also positions itself well in terms of GDP per capita, while Honduras and Nicaragua have lower values, suggesting lower economic prosperity. Higher GDP per capita can indicate better infrastructure, healthcare, and overall quality of life, but it may also exacerbate income inequality. This statistic reflects a country's economic strength and can influence its creditworthiness and investment attractiveness. Each country's level of GDP per capita reveals its standing in the global economy and its potential for future growth and development.
Middle East
The GDP per capita, PPP (constant 2017 international $) statistic reveals a varied economic landscape among the selected countries. Qatar stands out with the highest GDP per capita, showcasing substantial economic wealth, followed by the UAE and Bahrain. These countries have advantages of high living standards and infrastructure development but may face challenges such as income inequality. Conversely, countries like the State of Palestine and Morocco have lower GDP per capita, indicating potential economic struggles and limited resources for development. This statistic underscores the disparities in economic prosperity and highlights the need for targeted development strategies to bridge the gaps among these nations.
Rivals
Anglosphere v BRICS
Australia leads the group with a GDP per capita of $48,651, reflecting a high standard of living and robust economy. The United States follows closely at $60,158, showcasing its economic strength. Canada and the United Kingdom also exhibit solid economic performance with GDP per capita figures of $46,193 and $41,896 respectively. However, New Zealand, though lower at $42,052, boasts a stable economy. China trails at $16,297, indicating its vast population but lower individual wealth. India and South Africa have the lowest GDP per capita at $6,172 and $12,867, revealing economic challenges. Advantages include strong consumer power in high GDP countries, while disadvantages lie in income inequality across the board. This statistic influences development by indicating economic health, attracting investments, and shaping government policy.
Russia v Ukraine
The GDP per capita, PPP for the Russian Federation stands at $26,586.56, while for Ukraine, it is $12,407.79. This indicates that Russia has a significantly higher GDP per capita compared to Ukraine, highlighting a substantial economic disparity between the two countries. The Russian Federation benefits from a larger economy and more diversified industries, providing a higher standard of living for its citizens. However, this also brings challenges such as income inequality and dependence on natural resources. On the other hand, Ukraine faces economic struggles but has potential for growth and development through structural reforms and international partnerships. This statistic reflects the economic well-being of each country's population and underscores the need for strategic economic policies to address their respective challenges and opportunities.
France v United Kingdom
France has a GDP per capita, PPP (constant 2017 international $) of approximately $42,345, while the United Kingdom stands at around $41,896. France outperforms the United Kingdom in this statistic, indicating a higher average income adjusted for purchasing power. This suggests a better standard of living in France compared to the UK. However, the UK remains a strong economic player as well. The advantage for France lies in its higher GDP per capita, potentially leading to better infrastructure and social services. On the other hand, the UK may benefit from a more diverse economy. This statistic impacts both countries' development by influencing investment attractiveness and citizens' well-being.
Israel v Iran
Iran has a GDP per capita of 14,432.36 international dollars, significantly lower than Israel's 39,680.67 international dollars. This indicates a substantial economic disparity between the two countries. Iran's lower GDP per capita may reflect challenges in economic growth and development compared to Israel, which enjoys a higher standard of living and economic prosperity. While Iran may have a larger population and natural resources, its GDP per capita suggests lower individual wealth and potentially higher income inequality. On the other hand, Israel's higher GDP per capita indicates a more advanced economy with better infrastructure and higher productivity. However, Israel may also face higher costs of living and potential economic overheating due to its wealth concentration among a smaller population.
Saudi Arabia v Iran
Iran's GDP per capita, PPP stands at $14,432.36, while Saudi Arabia's is significantly higher at $44,770.91. Iran's lower figure reflects its economic challenges including sanctions, lack of diversification, and political instability. In contrast, Saudi Arabia benefits from oil wealth, leading to a much higher GDP per capita. Iran may struggle with providing a high standard of living for its citizens, while Saudi Arabia enjoys more resources for development and infrastructure. This statistic underscores the need for Iran to address its economic issues to improve living standards, while Saudi Arabia can focus on diversification to sustain growth.
India v Pakistan
India has a GDP per capita, PPP of $6172.04, while Pakistan's stands at $5004.35. India's higher GDP per capita indicates a relatively stronger economy compared to Pakistan. This suggests that on average, an Indian citizen has higher purchasing power than a Pakistani citizen. India may benefit from a larger market size and more diverse economic base, but it also faces challenges such as income inequality and infrastructure deficiencies. Pakistan, although behind economically, may have lower costs of living and potentially lower economic disparities. The GDP per capita statistic highlights the economic well-being of citizens in each country and underscores the need for targeted policies to address existing economic challenges.
Turkey v Greece
In terms of GDP per capita based on purchasing power parity, Greece has a value of $27,009.21 while Turkey has a value of $28,726.19. Turkey surpasses Greece in this statistic, indicating a higher average income per person based on PPP. This suggests that Turkey may have a slightly higher standard of living compared to Greece. However, Greece, despite its lower GDP per capita, may have a more stable economy and stronger social welfare system. The GDP per capita statistic reflects the economic productivity and living standards of a country, with Turkey potentially having a slight advantage in this aspect over Greece.
China v Japan
China, People's Republic of, has a GDP per capita, PPP of $16,296.61, while Japan's GDP per capita, PPP is significantly higher at $40,044.51. The stark contrast in these figures showcases the economic disparity between the two countries. China's advantage lies in its large population and rapidly growing economy, although income inequality and environmental challenges persist. Japan, on the other hand, benefits from a highly developed infrastructure and advanced technology but faces an aging population and stagnant economic growth. The GDP per capita, PPP statistic reflects the standard of living and economic productivity in each country, influencing development priorities related to income distribution, social welfare, and investment in human capital.
FAQs
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Which country has the most GDP per capita, PPP?
The country with the highest GDP per capita, PPP is Luxembourg, with a value of $112,274.82 in constant 2017 international dollars.
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Which country has the least GDP per capita, PPP?
The country with the lowest GDP per capita, PPP is Burundi, with a value of $711.36 in constant 2017 international dollars.
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What is the average GDP per capita, PPP among the listed countries?
The average GDP per capita, PPP among the listed countries is $19,636.53 in constant 2017 international dollars.