GDP per capita growth (annual %)



Countries By GDP per capita growth (annual %)



Key points



Official Definition of GDP per capita growth (annual %)

Annual percentage growth rate of GDP per capita based on constant local currency. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy 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.



Importance

GDP per capita growth (annual %) is a crucial macroeconomic statistic for a country as it reflects the average economic performance and standard of living of its citizens over time. A high GDP per capita growth signifies economic prosperity, increased productivity, and better quality of life for individuals within the country. This can lead to higher levels of consumer spending, investment in infrastructure, and overall economic development.

On the other hand, a low GDP per capita growth rate indicates stagnation or decline in the economy, which can result in reduced purchasing power, limited job opportunities, and a lower standard of living. It may also signify underlying structural issues such as inefficient resource allocation or lack of innovation in the economy.



Top 10 Countries by GDP per capita growth (annual %)

Bottom 10 Countries by GDP per capita growth (annual %)



Regions

Europe

The GDP per capita growth rates for the selected countries vary significantly, with Andorra experiencing the largest decline at -12.74% and Ireland exhibiting growth of 5.53%. Countries like Montenegro, Spain, and Belgium also faced considerable declines, while Poland, Denmark, and Norway saw more modest decreases. These figures reflect the diverse economic performance and challenges faced by each nation, with implications for their development prospects. For example, lower GDP per capita growth can signal economic stagnation, while positive growth rates can indicate a thriving economy. Advantages of higher growth include increased standard of living and investment opportunities, but disadvantages may include inflationary pressures. Lower growth rates may lead to challenges in job creation and infrastructure development, impacting overall economic stability.

Far East: East Asia, SE Asia, Australia

Analysis of GDP per capita growth (annual %) for selected countries shows a varied picture: while Brunei and China recorded positive growth rates of 0.29% and 1.99% respectively, countries like Philippines and Myanmar experienced significant declines of -10.98% and -9.70% respectively. These figures indicate a diverse economic landscape within the region. Advantages of positive growth include increased prosperity and improved living standards, as seen in Brunei and China. However, countries facing negative growth, like Philippines and Myanmar, may encounter challenges such as economic instability and lower quality of life. This statistic plays a crucial role in a country's development as it reflects the efficiency of economic policies and can influence investor confidence and future growth prospects.

ASEAN

The GDP per capita growth (annual %) statistic reveals varying economic performances among the listed countries. Brunei and Vietnam show positive growth rates of 0.29% and 1.94% respectively, indicating economic stability and potential for development. In contrast, Myanmar, Philippines, and Thailand display significant negative growth rates, with Myanmar at -9.70%, highlighting economic challenges and potential issues with development strategies. Advantages for Brunei and Vietnam include sustainable growth and opportunities for investment, while disadvantages for Myanmar, Philippines, and Thailand may involve economic instability and a need for structural reforms. This statistic impacts each country differently, influencing investment attractiveness, social welfare, and overall economic competitiveness.

Latin America

The GDP per capita growth rate for the selected countries varies significantly, with Panama experiencing the largest decline of 18.85% while Paraguay has the smallest decrease of 2.15%. These countries exhibit diverse economic performances, with factors such as political stability, trade relationships, and natural resource management influencing their GDP per capita growth. Panama may face challenges in economic diversification due to its steep decline, whereas Paraguay's relatively stable growth could indicate resilience to external shocks. Overall, a negative GDP per capita growth rate can hinder a country's development by reducing individuals' purchasing power and potentially leading to social unrest, demonstrating the need for strategic economic policies in these nations.

Middle East

The data on GDP per capita growth rate reveals a diverse economic landscape among the listed countries. Countries like Libya, Lebanon, and State of Palestine show severe contractions, while Egypt, Iran, and Turkey display modest growth. Advantages for countries with positive growth include potential for increased living standards and investment opportunities. However, disadvantages such as inflation and economic imbalance may arise. The varying growth rates signify different stages of economic development and government policies within each nation. This statistic influences the overall development trajectory of a country, impacting infrastructure, social welfare, and global competitiveness differently for each nation.



Rivals

Anglosphere v BRICS

Australia, China, and New Zealand show positive growth in GDP per capita, with China having the highest growth rate at 1.99%. Brazil, Canada, Russia, and the United States are experiencing negative growth, with the United Kingdom having the most significant decline at -10.69%. India and South Africa also show a decline in GDP per capita. Advantages of positive growth include increased standard of living and potential for economic stability, while disadvantages of negative growth may lead to reduced consumer spending and investment. This statistic is crucial for assessing the economic well-being of a country and can impact factors such as government policies, employment rates, and overall economic progress.

Russia v Ukraine

The GDP per capita growth rate for the Russian Federation is at -2.45% and for Ukraine is at -3.10%. Despite both countries experiencing negative growth, Ukraine's decline is more pronounced than that of the Russian Federation. The Russian Federation may have the advantage of a more diversified economy compared to Ukraine, which heavily relies on agriculture and faces political instability. However, Russia's growth may be hindered by sanctions and dependence on oil exports. The negative growth rates for both countries indicate economic challenges that can lead to decreased standards of living, potential social unrest, and difficulty in achieving sustainable development goals.

France v United Kingdom

France experienced a GDP per capita growth rate of -7.79% annually, while the United Kingdom saw a steeper decline of -10.69%. This data indicates economic contraction in both countries, with the United Kingdom faring worse. France may benefit from a more stable economic foundation despite the negative growth, potentially leading to quicker recovery. Conversely, the United Kingdom's deeper decline may signal underlying structural issues. The implications suggest challenges in maintaining living standards, potential social unrest, and reduced investment attractiveness. Addressing these economic contractions through policy adjustments and structural reforms will be crucial for both countries to stimulate growth and ensure long-term economic stability.

Israel v Iran

Iran's GDP per capita growth is at 2.47% annually, indicating steady economic expansion, potentially boosting living standards and overall economic development. In contrast, Israel's GDP per capita growth is at -3.57%, signaling a decline in economic prosperity which could lead to financial challenges and reduced quality of life for its citizens. Iran's positive growth suggests a growing economy and potential for increased investment opportunities. However, Israel's negative growth may require economic reforms to reverse the trend and improve the country's economic outlook, possibly leading to political and social consequences. Overall, these contrasting statistics highlight the divergent economic trajectories of the two nations and emphasize the critical importance of sustainable economic policies for long-term development.

Saudi Arabia v Iran

Iran experienced a positive GDP per capita growth rate of 2.47% annually, indicating economic expansion. In contrast, Saudi Arabia faced a decline of -4.79%, suggesting economic contraction. Iran's growth may stem from diversification efforts while Saudi Arabia's decline might relate to oil price fluctuations. Iran benefits from a more diverse economy but is vulnerable to geopolitical tensions. Saudi Arabia's challenge lies in reducing its dependence on oil revenue. This statistic impacts Iran by potentially improving living standards and boosting domestic consumption, but it could strain Saudi Arabia's fiscal position and necessitate reforms to spur non-oil sectors for sustainable growth.

India v Pakistan

India experienced a significant decline in GDP per capita growth with a rate of -6.73%, indicating a contraction in economic output per person. In comparison, Pakistan also recorded a negative growth rate of -2.97%. Despite both countries facing economic setbacks, India's decline was more pronounced. This decline could result in challenges such as increased poverty levels and reduced consumer spending in India. Conversely, Pakistan's slightly milder decline may offer some resilience. The implications of the decreasing GDP per capita growth include potential economic hardships, reduced investments, and slower overall development for both countries.

Turkey v Greece

Greece has experienced a significant decline in GDP per capita growth, with a rate of -9.12%. In contrast, Turkey has shown positive growth at 0.88%. This divergence highlights differing economic trajectories, with Greece facing economic challenges while Turkey is displaying relative stability and growth. For Greece, the low GDP per capita growth signifies economic contraction and potential challenges in meeting the needs of its population. On the other hand, Turkey's positive growth reflects a more robust economy and potential for improved living standards. Greece may face disadvantages such as reduced investment and increased unemployment, while Turkey could benefit from enhanced investor confidence and economic stability.

China v Japan

China's GDP per capita growth is positive at 1.996%, indicating economic expansion in terms of income per person, which can lead to improved living standards. In contrast, Japan shows a negative growth rate of -3.865%, suggesting a decline in income per person and potential economic challenges. China's advantage lies in its consistent economic growth and large population, offering vast market potential. However, overreliance on exports may expose it to external shocks. Japan, despite being technologically advanced, faces demographic challenges with an aging population. The GDP per capita growth statistic reflects the economic trajectories of both countries, with China on a path of growth and Japan grappling with stagnation.



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