Economics

Economics

Per Capita GDP of Different Countries

It is a Gross Domestic Product (GDP) that has obtained by divided to the mid year total population. It is the market surplus value of all legitimately documented final services and goods shaped within a country in a specified stage of time. This GDP per capita is frequently measured a pointer of a country's living standard and how the residents has utilized their money for spending their life's. The GDP per capita income has calculated the resident's surplus by dividing to the midyear population. This GDP per capita is not a calculation of personal income of the individual person. In economic theory, the GDP per capita income is equal to the gross domestic income.

GDP per capita = GDI

It is the sum of gross value additional by all resident manufacturers in the financial system plus any manufactured goods taxes and minus any financial assistance not integrated in the value of the goods. It is estimated without making presumptions for reduction of fictitious assets or for diminution and deprivation of natural income. This GDP per capita has produced by the residents of a country The GDP per capita usually measured after a year by adding all the surplus amount of the residents and then divided by midyear population. GDP per capita of different countries are always dissimilar with each other because every country has own manufacturing department that has produced according to their feasibility and supports. (Barro, 1991).

GDP per capita Data of Different Countries

Countries

GDP

Qatar

$103,900

Singapore

$61,400

Norway

$55,900

Hong Kong

$52,300

United States

$50,700

United Arab Emirates

$49,800

Switzerland

$46,200

Canada

$43,400

Australia

$43,400

France

$36,100

Italy

$30,600

China

$9,300

The data in the above table has described the different level of GDP per capita income of various countries. These ...