Map of countries by GDP (PPP) per capita in 2022

A country's

gross domestic product Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is oft ...

(GDP) at purchasing power parity (PPP) per capita is the PPP value of all final

goods and services Goods are items that are usually (but not always) tangible, such as pens, physical books, salt, apples, and hats. Services are activities provided by other people, who include architects, suppliers, contractors, technologists, teachers, doc ...

produced within an

economy An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the ...

in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita, but adjusted for the

cost of living Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time can be operationalized in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a cer ...

in each country. In 2019, the estimated average GDP per capita (PPP) of all of the countries of the world was Int$ 18,381. For rankings regarding wealth, see

list of countries by wealth per adult This is a list of countries of the world by wealth per adult or household, from sources such as Credit Suisse's annual ''Global Wealth Databook'' See table 3-1 for all countries, on pages 119-122, for mean and median wealth, Gini coefficient, ...

Method

The

(GDP)

per capita ''Per capita'' is a Latin phrase literally meaning "by heads" or "for each head", and idiomatically used to mean "per person". The term is used in a wide variety of social sciences and statistical research contexts, including government statistic ...

figures on this page are derived from PPP calculations. Such calculations are prepared by various organizations, including the IMF and the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

. As estimates and assumptions have to be made, the results produced by different organizations for the same country are not hard facts and tend to differ, sometimes substantially, so they should be used with caution. Comparisons of national wealth are frequently made on the basis of ''nominal'' GDP and

savings Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an ...

(not just income), which do not reflect differences in the

in different countries (''see List of countries by GDP (nominal) per capita''); hence, using a PPP basis is arguably more useful when comparing differences in living standards between economies because PPP takes into account the relative cost of living and the inflation rates of the countries, rather than using only

exchange rates In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of ...

, which may distort the real differences in income. This is why GDP (PPP) per capita is often considered one of the indicators of a country's standard of living, although this can be problematic because GDP per capita is not a measure of

personal income In economics, personal income refers to an individual's total earnings from wages, investment enterprises, and other ventures. It is the sum of all the incomes received by all the individuals or household during a given period. Personal income is ...

. (''See Standard of living and GDP''.) GDP (PPP) and GDP (PPP) per capita are usually measured by

international dollar The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G-K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dollar ...

, which is a hypothetical

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general ...

that has the same purchasing power in every economy as the

U.S. dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

Table

All figures are in current

s, and rounded to the nearest whole number. ''The table initially ranks each country or territory with their latest available year's estimates, and can be reranked by either of the sources'' * ''Nearly all country links in the table connect to articles titled "Income in (''country'' or ''territory'')" or to "Economy of (''country'' or ''territory'')".''

Footnotes

Expanding the coverage of illegal economic activities in euro area national accounts

The share of the shadow economy is significant in many European countries, ranging from less than 10 to over 40 percent of GDP. Since 2014, EU member states have been encouraged by Eurostat, the official statistics body, to include some illegal activities.

Distorted GDP-per-capita for tax havens

There are many natural economic reasons for GDP-per-capita to vary between jurisdictions (e.g. places rich in Oil & Gas reserves tend to have high GDP-per-capita figures). However, it is increasingly being recognized that tax havens, or corporate tax havens, have distorted economic data which produces artificially high, or inflated, GDP-per-capita figures. It is estimated that over 15% of global jurisdictions are tax havens (see tax haven lists). The paper implicitly adopts the "smaller" tax haven approach, i.e., disregarding larger countries which have either low taxes rates (for example,

Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eig ...

), or systems of taxation which permit them to be used to structure tax avoidance schemes (for example, the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...

). It also excludes non-sovereign tax havens (for example,

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...

Labuan Labuan (), officially the Federal Territory of Labuan ( ms, Wilayah Persekutuan Labuan), is a Federal Territory of Malaysia. Its territory includes and six smaller islands, off the coast of the state of Sabah in East Malaysia. Labuan's capita ...

). An IMF investigation estimates that circa 40% of global foreign direct investment flows, which heavily influence the GDP of various jurisdictions, are described as "phantom" transactions. In 2017, Ireland's economic data became so distorted by U.S. multinational tax avoidance strategies (see

leprechaun economics Leprechaun economics was a term coined by economist Paul Krugman to describe the 26.3 per cent rise in Irish 2015 GDP, later revised to 34.4 per cent, in a 12 July 2016 publication by the Irish Central Statistics Office (CSO), restating 2015 ...

), also known as BEPS actions, that Ireland effectively abandoned GDP (and GNP) statistics as credible measures of its economy, and created a replacement statistic called

modified gross national income Modified gross national income, Modified GNI or GNI* was created by the Central Bank of Ireland in February 2017 as a new way to measure the Irish economy, and Irish indebtedness, due to the increasing distortion that the base erosion and prof ...

(or GNI*). Ireland is one of the world's largest corporate tax havens. A list of the top 15 GDP-per-capita countries from 2016 to 2017, contains most of the major global tax havens (see GDP-per-capita tax haven proxy for more detail):

Notes

References

External links

IMF DataMapper
{{DEFAULTSORT:Gdp (Ppp) Per Capita GDP (PPP) per capita *GDP (PPP) per capita