What is GDP per capita?

At its most basic interpretation, GDP per capita shows how much economic production value can be attributed to each individual citizen. Alternatively, this translates to a measure of national wealth since GDP market value per person also readily serves as a prosperity measure. GDP itself is the primary measure of a country's economic productivity.

What is a country's GDP at purchasing power parity (PPP) per capita?

A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy 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 in each country.

How much wealth does the United States have per capita?

This amount of wealth is divided among the country's population to tell us its GDP per capita. For example, according to the Bureau of Economic Analysis, the U.S. GDP in 2021 was $23.9 trillion. With a population of 332 million in 2021, according to the Census bureau, that means the U.S. GDP per capita was $71,343.

Does GDP per capita change a country's ranking?

Such fluctuations change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. GDP per capita is often considered an indicator of a country's standard of living; however, this is inaccurate because GDP per capita is not a measure of personal income .