per capita gdp

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Per-Capita GDP Comparisons

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Per-Capita GDP Comparisons

Real per-capita GDP allows us to compare the

standard of living in nations of vastly different sizes. It does this by calculating real GDP per-person

China has a population that is four times the size of the United States.

With that many people their GDP is going to be very large. But where

would you expect to have a higher standard of living – China or the U.S?

Per-Capita GDP measures a nations standard of living. The higher per-

capita GDP is the higher the standard of living is.

Per-Capita GDP =Real Gross Domestic Product

Population

Real GDP per person

The market value of all goods and services

produced within a nations border within a year

The number of people in the

nation

Real just means we have adjusted GDP

for inflation which allows us to compare

GDP over different time periods

When you see the following per-capita

GDP figures try to think about how a

person can live on that amount for a

year.

Developing Nations

Afghanistan: Per-Capita GDP $678

Zimbabwe: Per-Capita GDP $905

Mongolia: Per-Capita GDP $4,056

BRIC represents Brazil – Russia – India – China. These are the

major developing economies of the 21st century.

India: Per-Capita GDP $1,499

China: Per-Capita GDP $6,807

Brazil: Per-Capita GDP $11,208

Russia: Per-Capita GDP $14,612

Advanced Nations

Japan: Per-Capita GDP $38,492

United Kingdom: Per-Capita GDP $39,337

United States: Per-Capita GDP $53,143

Sweden: Per-Capita GDP $58,269

Norway: Per-Capita GDP $100,819