What does an increase in GDP mean? What is GDP
Gross domestic product is the total cost of final goods and services, produced in the territory of this country, regardless of whether they are owned by residents of this country or are the property of foreigners.
The gross domestic product is used to characterize the results of production, the level economic development and pace.
Gross domestic product measures the market value of all final goods and services produced within a country during a year, so it is monetary indicator .
An important condition for calculating GDP is avoidance of double counting. The production of any product goes through several stages: first, raw materials are converted into intermediate goods and then sold to another company for production. finished products. GDP does not take into account the value of goods in intermediate stages and only takes into account the market value of the final product. This is done because the cost of the final product already includes intermediate stages and goods. If we take into account the cost of goods at intermediate stages, then there will be re-count overstating the real size of GDP.
To improve the understanding of the added value, we solve the problemThe chemical plant sells to a consumer services company washing powder for 500 thousand rubles per year, and a private boiler house provides electricity and hot water (annual cost of services is 600 thousand rubles per year). By how much does GDP increase as a result?
Answer: For 2 million rubles, because intermediate consumption is taken into account in the composition of the final product (consumer service).
The difference between GNP and GDP is as follows:- Gross domestic product is calculated on a territorial basis. It takes into account the cost of production, regardless of the nationality of enterprises located in the territory of a given country.
- Gross national product is the value national economy regardless of the location of the national enterprise.
That is, GDP takes into account all goods and services produced in the territory of a given country, and GNP takes into account all goods and services produced by national enterprises, regardless of the place of production.
GDP = - (difference between factor income received from abroad and factor income received foreign investors in this country).
Gross domestic product is the main indicator, economic activity in the country. However, it does not give a true picture of the quality of life of the population and the level of well-being. To more accurately assess the well-being of the population, countries use indicators such as net national income and national income.
Articles of GDP
By expenses | By income |
Consumer spending, services
|
Wage
|
The following items are not included:
- Scholarship of a student studying at the budget department of the university - transfer.
- Cost of sold secondary market shares is a financial transaction.
- Family expenses for the purchase of a used car are not included in the GDP. resale, was previously included in GDP.
- Interest on government bonds received by a private person - interest on government securities.
- Incomes of the shadow business are not included, although they partially try to estimate these incomes indirectly.
- 50 rubles received by the grandson from his grandmother to buy ice cream - transfer
- Purchase of an imported BMW car by a private motor transport company — Household and government final consumption and investment expenditures include the cost of both domestic and imported products (with a plus sign), but the values of the same imported goods are included in the calculation of net exports (with a minus sign) ), so that ultimately the value of imports does not affect GDP.
- Dividends paid at the end of the year to the Russian shareholders of an American corporation located in America are not included in GDP, but are included in GNP (GNI in the modern version of the SNA).
Ambiguous situations
- Sale of crude oil by a Russian oil company to a Russian refinery. If the intermediate consumption value of this oil is simply added to GDP, a double count occurs. Therefore, this value will be taken into account further when the value of the final product produced using this oil is included in GDP, or its elements will be included in GDP when calculating based on the summation of value added.
The media often mentions GDP. This concept is used by officials of various levels when they comment on the level of development of the state's economy over a certain period. Let's figure out what GDP is and what impact this indicator has on the life of an ordinary citizen.
What is GDP
GDP stands for "gross domestic product". In simple words, GDP is the total value of goods, products and services that were produced in the state in one year. GDP is an indicator of the scale and success of the economy of a state.
Economists study country's GDP and draw conclusions about its economic prosperity. When this indicator shows an increase, it means that the country has begun to produce more various goods and provide services.
GDP growth signals that the country's economy is on the rise, as operating plants, factories, the mining industry, the service sector deduct taxes to the treasury, which means that the country as a whole is becoming richer.
The decline in GDP sends a signal to investors that the economy is stagnating, and producers' incomes have declined.
The size of GDP does not depend on the size of the country, but only on the potential and scale of its economy. For example, this indicator in the smallest European country Luxembourg (area 2,586 m2, population - 576,249 people) is $103,199 per capita, that is, every Luxembourger has such an income per year.
And how is the situation with this indicator in Kazakhstan? According to the World Bank, in 2016 the country earned $133.65 billion, that is, the income of each Kazakhstani was $7,453. In terms of the level of economic development, Kazakhstan is in 54th place in the world ranking, but in terms of income of the population - in 74th.
How does GDP affect the salaries of citizens? The more goods produced in the country, the more deductions to the budget. From the state treasury, salaries are paid to doctors, teachers, social payments pensioners, etc. If this economic indicator is high, then salaries also increase.
However, there is one "but". This is inflation. Often GDP is higher than last year and people are poorer because inflation has risen significantly. For example, a family of three earned $10,000 in 2015 and $10,500 in 2016. It seems that their income has increased. But in 2016, inflation was 7.4%. That is, income increased by 5%, and due to inflation, the family became poorer by 2.4%.
The Minister of Economy of Kazakhstan, Timur Suleimenov, has identified priority sectors, thanks to which the country's GDP will increase in 2018:
- oil production;
- transit of oil products;
- manufacturing industry;
- infrastructure development.
According to preliminary estimates, this indicator, compared with 2017, should grow by 3.1% in 2018.
What is GNP and how is it different from GDP
GNP is the gross national product. In other words, this is the cost of the national economy, which develops both within the country and abroad. That is, it is the cost of products and services that are produced in the country and in the territories of other states. And GDP is the market value of everything that was produced exclusively within the country.
The concept of GNP includes:
- services and products produced abroad, but by domestic producers;
- financial transactions (businessmen buy stocks, bonds, etc.);
- displaced cash(transfers, transfer of ownership, pensions, scholarships).
It turns out that the GNP indicator includes profit that was transferred to the national treasury from other countries, from investments in the economy of other powers, wage those citizens who work abroad.
If GDP indicates the well-being of citizens, then GNP is a statistical (monetary) indicator by which one can judge the dynamics of the national economy.
Economists' forecasts, voiced in news stories, often talk about changes in GDP up or down. However, it is quite difficult for unprepared people to understand what exactly this can turn out to be for the country. Let's figure out what GDP is and how its value affects the lives of ordinary citizens.
GDP and GNP: what is it about
From school courses in economic geography and the basics of economic literacy, many learned that GDP is one of the macro economic indicators, according to which the level of development of the country is estimated. And the higher it is, the more prosperous the inhabitants of the state. This is true, but only in part. For specialists, the significance of GDP lies in the fact that it allows you to evaluate and predict:
- the national income of any state;
- the success of its business activities;
- the level of activity of economic entities;
- direction of economic development.
Gross domestic product, and this is how the abbreviation is deciphered, reflects the valuation of all goods produced on the territory of the state and services rendered for a certain period. The calculation of GDP includes the value of production in all areas: industry, agriculture, services, transport, etc. The contribution of each of them is different, as, for example, in the diagram above.
As a rule, it is customary to compare GDP for the year, but smaller periods, for example, a quarter, can be taken for analysis to reflect the dynamics of GDP. For ease of comparison, the cost of the economy is given in US dollars, as the most stable world currency. However, national monetary units can also be used in the evaluation of this indicator.
Only the final product created exclusively within the territorial boundaries of the country is taken into account. However, due to the division of labor, a number of national industries are outside their state. It is no secret that most European and American companies have located their production facilities in East or Southeast Asia. It turns out that the goods produced for them replenish the GDP of the respective countries.
To assess the value of the national economy, another indicator is used - the Gross National Product, otherwise GNP. It includes the valuation of products of national companies, including those produced abroad. For an accurate assessment of the well-being of the inhabitants of a particular state, it is the GNP that reflects the national income that will be more informative.
Types of GDP
Various approaches are used to estimate GDP. The choice depends on what kind of processes taking place in the country's economy are to be assessed. There are three types of GDP:
- nominal;
- real;
Nominal
Nominal is GDP calculated in current prices at the time of data collection. The disadvantage of this indicator is that it does not take into account inflation, relying solely on current prices. That is, it shows the value of all goods produced and services rendered at the end of the period. Due to inflation, formally, GDP growth can be observed with a real decrease in production.
In reality, nominal GDP reflects only the increase or decrease in the cost of services and goods within the country, and not the dynamics of production. But such an indicator allows economists to draw certain conclusions and forecasts. For example, that as a result of a constant increase in prices, demand will gradually decrease and GDP will begin to fall.
Real
Real GDP inflation takes into account and reflects the growth of production volumes. For calculations, the prices of one of the previous periods, usually the last year, are used. Rosstat, for example, uses price data from 2011 to calculate GDP in 2016.
The advantage of such an indicator is that it expresses precisely the increase in the country's trade turnover. It does not depend on fluctuations in exchange rates or other economic indicators. Based on real GDP, one can draw a conclusion about the current state of the state economy and the processes taking place in it. For example, a crisis will result in a decrease in production in all sectors, and the scientific and technological revolution will reduce the cost of producing some goods and cause a rapid growth of others - innovative ones.
In countries with a stable economy, the graphs of real and nominal GDP practically repeat each other. Where inflation processes play a significant role, the picture will be fundamentally different.
Per capita
Marketers are most interested in GDP in terms of purchasing power(its parity) population. For this, the indicator of GDP per capita is used. In the simplest case, the formula will be as follows: we take the GDP and divide it by the population. It is this indicator that is used to compare the economic well-being of countries and their inhabitants.
Other methods can be used to calculate purchasing power. One of the most popular is the so-called unofficial Big Mac index. Behind a relatively frivolous name reflecting the cost of a popular burger in different countries, is a fairly reliable indicator illustrating economic condition states.
How to find out the size of GDP
Any resident of the country has access to the official portal of Rosstat, where you can get data on the size of GDP or GNP for various periods. But in order for these data to appear there, GDP must be calculated. There are three main ways to do this. GDP is calculated:
- on expenses;
- by income;
- value added.
Regardless of which method is used, the total amount is the same. This is logical, given that in macroeconomics, the amount of income is always equal to the amount of expenses. The cost of the final product is its added value, therefore, it is this amount that buyers will spend when buying the final product.
By income
Another name for this method of calculating GDP is distribution. The total includes:
- national income;
- net income from abroad;
- indirect taxes (minus subsidies);
- depreciation.
The most multifactorial of the listed components will be the national income. It includes:
- all salaries and incentive payments paid to employees in the country;
- income from land lease received by its owners (private and public);
- interest payments for use borrowed money in production;
- profits of entrepreneurs (including interest on consumer loans and mortgage).
It is noteworthy that this calculation system does not take into account direct taxes and salaries of civil servants. This was done to avoid duplication of indicators. These items fall under budget revenues and are accounted for accordingly.
By expenses
To calculate the size of GDP, the following types of expenditures are taken:
- Consumer. This is the largest part of GDP. They include spending on daily necessities (such as groceries), clothing, durable goods (such as cars or household appliances), and a variety of services (education, transportation, medicine, entertainment, etc.).
- State. They include, first of all, public investment into the economy. As well as the costs associated with the performance of managerial functions (maintenance of authorities), ensuring national security etc.
- Investment. These include investments in own funds produced by private companies. It can be stocks of raw materials or necessary materials, fixed assets or construction industrial buildings. The size of this part can be used to judge the stability of the economic situation.
- net export. The difference between export earnings and spending on imports of goods and services. Another name for this component is the trade balance.
By value added
Otherwise, the production method. Value added, as you know, is the difference between the income received by the company and the cost of goods produced. To obtain GDP, the value added calculated for each industry separately is summed up.
Gross domestic product is a term well known not only in economic sphere, but also to a simple layman who is not interested in interstate economic squabbles.
GDP- this is an indicator of the cost of goods and services that are intended for direct consumption, and released for a certain period in the territory of the state.
An important factor determining the value of the Gross Domestic Product is the degree of development of the country. At developed countries, this indicator is naturally higher than that of developing or third world countries.
Description of GDP in simple words
GDP - information from Wikipedia
The history of the emergence of the gross domestic product
The father of GDP was American economist of Jewish origin Simon Kuznets, who at the beginning of the 20th century made his calculations of the national income of the United States of America. Nobody had done this before him. In 1971, Kuznets received the Nobel Prize for his monumental contribution to the development of the economy.
The main indicator for various macroeconomic studies, Gross Domestic Product became only after 1991, in order to be compatible with national system United Nations accounts.
Types of GDP
Gross domestic product itself is divided into two types - nominal and real.
Nominal
Nominal GDP is the price of final goods and services produced in a given region and expressed in market value. It follows that this indicator is directly related to rising prices and incomes.
Real
Real GDP is not related to fluctuations in the market prices of a particular product, but directly depends on the real growth of production.
Mistakes in calculations
But not all economists have accepted the concept and methods of calculating GDP. From the very beginning, some respected economists noticed in it, as a model of general welfare, negative delusions. And in a way they were right!
Unfortunately, the Gross Domestic Product is built on the basis of only cash transactions, thereby creating a far from complete picture of the socio-natural system. In addition, the methodology for calculating this macroeconomic indicator encourages the depletion of an already limited amount of natural resources. But the worst thing is that such methods of economic conquest will lead us to the complete degradation of all ecosystems on which our entire life depends.
But, despite all these catastrophic phenomena, all world economy is based on its main goal of increasing the GDP indicator, which, in fact, is not a characteristic of progress or growth in the well-being of the population.
Alternatives
As they say in economic circles, GDP has become something of a “magic formula” for solving all sorts of human, state problems. In this regard, many alternative indicators have been proposed that could save economic system from the major flaws that characterize the true value of the Gross Domestic Product as such.
Such methods include the General Progress Indicator (GPI), which, unlike GDP, is divided into categories of various profits and costs and is determined by the final difference between them, and Net Savings. Both indicators are based on national accounts and both are expressed in monetary terms.
Also, in 2008, the Commission on Key Indicators was established by the then President of France, Nicolas Sarkozy. economic activity and social progress (the Stiglitz-Sen-Fitoussi commission), the main purpose of which is to develop criteria for evaluating various indicators of both economic activity and social progress, absolutely not relying on the indicators of the country's Gross Domestic Product.
Ranking of countries by GDP (2014)
PLACE | ECONOMY | GDP SIZE ($ MILLION) |
1 | USA | 16 768 100 |
2 | China | 9 240 270 |
3 | Japan | 4 919 563 |
4 | Germany | 3 730 261 |
5 | France | 2 806 428 |
6 | Great Britain | 2 678 455 |
7 | Brazil | 2 245 673 |
8 | Italy | 2 149 485 |
9 | Russia | 2 096 777 |
10 | India | 1 876 797 |
11 | Canada | 1 826 769 |
12 | Australia | 1 560 372 |
13 | Spain | 1 393 040 |
14 | South Korea | 1 304 554 |
15 | Mexico | 1 260 915 |
16 | Indonesia | 868 346 |
17 | Netherlands | 853 539 |
18 | Turkey | 822 135 |
19 | Saudi Arabia | 748 450 |
20 | Switzerland | 685 434 |
21 | Argentina | 609 889 |
22 | Sweden | 579 680 |
23 | Poland | 525 866 |
24 | Belgium | 524 806 |
25 | Nigeria | 521 803 |
26 | Norway | 512 580 |
27 | Venezuela | 438 284 |
28 | Austria | 428 322 |
29 | United Arab Emirates | 402 340 |
30 | Thailand | 387 252 |
31 | Colombia | 378 415 |
32 | Iran | 368 904 |
33 | South Africa | 350 630 |
34 | Denmark | 335 878 |
35 | Malaysia | 313 159 |
36 | Singapore | 297 941 |
37 | Israel | 290 551 |
38 | Chile | 277 199 |
39 | Hong Kong | 274 013 |
40 | Philippines | 272 067 |
41 | Egypt | 271 973 |
42 | Finland | 267 329 |
43 | Greece | 242 230 |
44 | Pakistan | 232 287 |
45 | Ireland | 232 077 |
46 | Kazakhstan | 231 876 |
47 | Iraq | 229 327 |
48 | Portugal | 227 324 |
49 | Algeria | 210 183 |
50 | Czech | 208 796 |
51 | Qatar | 203 235 |
52 | Peru | 202 350 |
53 | Romania | 189 638 |
54 | New Zealand | 185 788 |
55 | Ukraine | 177 431 |
56 | Kuwait | 175 831 |
57 | Vietnam | 171 390 |
58 | Bangladesh | 149 990 |
59 | Hungary | 133 424 |
60 | Angola | 124 178 |
61 | Morocco | 103 836 |
62 | Puerto Rico | 103 135 |
63 | Slovakia | 97 707 |
64 | Ecuador | 94 473 |
65 | Oman | 79 656 |
66 | Libya | 74 200 |
67 | Azerbaijan | 73 560 |
68 | Belarus | 71 710 |
69 | Cuba | 68 234 |
70 | Sri Lanka | 67 182 |
71 | Sudan | 66 566 |
72 | Dominican Republic | 61 164 |
73 | Luxembourg | 60 131 |
74 | Croatia | 57 869 |
75 | Uzbekistan | 56 796 |
76 | Uruguay | 55 708 |
77 | Kenya | 55 243 |
78 | Bulgaria | 54 480 |
79 | Guatemala | 53 797 |
80 | Macau | 51 753 |
81 | Costa Rica | 49 621 |
82 | Ghana | 48 137 |
83 | Slovenia | 47 987 |
84 | Ethiopia | 47 525 |
85 | Tunisia | 46 994 |
86 | Lithuania | 45 932 |
87 | Serbia | 45 520 |
88 | Lebanon | 44 352 |
89 | Panama | 42 648 |
90 | Turkmenistan | 41 851 |
91 | Yemen | 35 955 |
92 | Jordan | 33 679 |
93 | Tanzania | 33 225 |
94 | Bahrain | 32 890 |
95 | Democratic Republic of the Congo | 32 691 |
96 | Ivory Coast | 31 062 |
97 | Latvia | 30 957 |
98 | Bolivia | 30 601 |
99 | Cameroon | 29 568 |
100 | Paraguay | 29 009 |
101 | Zambia | 26 821 |
102 | Estonia | 24 880 |
103 | Trinidad and Tobago | 24 641 |
104 | Salvador | 24 259 |
105 | Cyprus | 21 911 |
106 | Uganda | 21 494 |
107 | Afghanistan | 20 310 |
108 | Gabon | 19 344 |
109 | Nepal | 19 294 |
110 | Honduras | 18 550 |
111 | Bosnia and Herzegovina | 17 851 |
112 | Georgia | 16 140 |
113 | Brunei | 16 111 |
114 | Mozambique | 15 630 |
115 | Equatorial Guinea | 15 581 |
116 | Iceland | 15 330 |
117 | Papua New Guinea | 15 289 |
118 | Cambodia | 15 239 |
119 | Senegal | 14 792 |
120 | Botswana | 14 785 |
121 | Jamaica | 14 362 |
122 | Congo | 14 086 |
123 | Chad | 13 514 |
124 | Zimbabwe | 13 490 |
125 | Namibia | 13 113 |
126 | Albania | 12 923 |
127 | Mauritius | 11 929 |
128 | South Sudan | 11 804 |
129 | Burkina Faso | 11 583 |
130 | Mongolia | 11 516 |
131 | Palestine | 11 262 |
132 | Nicaragua | 11 256 |
133 | Laos | 11 243 |
134 | Mali | 10 943 |
135 | Madagascar | 10 613 |
136 | Armenia | 10 432 |
137 | Macedonia | 10 195 |
138 | Malta | 9 642 |
139 | Tajikistan | 8 508 |
140 | Haiti | 8 459 |
141 | Bahamas | 8 420 |
142 | Benin | 8 307 |
143 | Moldova | 7 970 |
144 | Rwanda | 7 521 |
145 | Niger | 7 407 |
146 | Kyrgyzstan | 7 226 |
147 | Kosovo | 7 072 |
148 | Guinea | 6 144 |
149 | Monaco | 6 075 |
150 | Bermuda | 5 474 |
151 | Suriname | 5 299 |
152 | Montenegro | 4 416 |
153 | Togo | 4 339 |
154 | Barbados | 4 225 |
155 | Mauritania | 4 158 |
156 | Sierra Leone | 4 136 |
157 | Fiji | 3 855 |
158 | Swaziland | 3 791 |
159 | Malawi | 3 705 |
160 | Eritrea | 3 444 |
161 | Guyana | 2 990 |
162 | Burundi | 2 715 |
163 | Aruba | 2 584 |
164 | Lesotho | 2 335 |
165 | Maldives | 2 300 |
166 | Liberia | 1 951 |
167 | Cape Verde | 1 879 |
168 | Butane | 1 781 |
169 | Belize | 1 624 |
170 | Central African Republic | 1 538 |
171 | Djibouti | 1 456 |
172 | Seychelles | 1 443 |
173 | Saint Lucia | 1 336 |
174 | Timor Leste | 1 270 |
175 | Antigua and Barbuda | 1 201 |
176 | Solomon islands | 1 096 |
177 | Guinea-Bissau | 961 |
178 | Gambia | 903 |
179 | Grenada | 836 |
180 | Vanuatu | 828 |
181 | Samoa | 802 |
182 | Saint Kitts and Nevis | 766 |
183 | Saint Vincent | 709 |
184 | Comoros | 599 |
185 | Dominica | 517 |
186 | Tonga | 466 |
187 | micronesia | 316 |
188 | Sao Tome and Principe | 311 |
189 | Palau | 247 |
190 | Marshall Islands | 191 |
191 | Kiribati | 169 |
192 | Tuvalu | 38 |
Gross domestic product (GDP) is one of the most important indicators of the system of national accounts, which characterizes the final result of the production activity of resident economic units and measures the value of goods and services produced by these units for final use.
GDP is a measure of the product produced, which is the value of final goods and services produced. This means that the value of intermediate goods and services used in the production process (such as raw materials, supplies, fuel, energy, seeds, feed, trucking services, wholesale trade, commercial and Financial services etc.), is not included in the GDP. Otherwise, the GDP would contain a recount.
Also, GDP is a domestic product because it is produced by residents. Residents include all economic units (enterprises and households), regardless of their nationality and citizenship, having a center of economic interest in the economic territory of a given country. This means that they are engaged in production activities or reside in the economic territory of the country for a long time (at least a year).
The economic territory of a country is the territory administered by the government of that country, within which persons, goods and money can move freely. Unlike geographical area it does not include territorial enclaves of other countries (embassies, military bases, etc.), but includes such enclaves of this country located on the territory of other countries.
And finally, GDP is gross product, because it is calculated by subtracting the consumption of fixed capital. Consumption of fixed capital is the decrease in the value of fixed capital during the reporting period as a result of its physical and obsolescence accidental damage that is not catastrophic.
In theory, domestic product should be determined on a net basis, i.e. minus the consumption of fixed capital. However, in order to determine the consumption of fixed capital in accordance with the principles of the system of national accounts, special calculations are required based on data on the replacement value of fixed assets, their service life and depreciation by type of fixed assets. Data amortization accounting not suitable for this purpose. Not all countries make these calculations, and those that do use different methods. Thus, data on GDP are more readily available and comparable across countries, and therefore the measure of GDP has become more widely accepted than net domestic product.
Methods for calculating GDP
GDP can be calculated in the following three ways:
- as the sum of gross value added (production method);
- as the sum of end use components (end use method);
- as the sum of primary incomes (distributive method).
When calculating production method GDP is calculated by summing the gross value added of all resident production units grouped by industry or sector. Gross value added is the difference between the value of goods produced and services rendered (output) and the value of goods and services fully consumed in the production process (intermediate consumption).
Under the end-use method, GDP is defined as the sum of the following components: expenditure on final consumption of goods and services, gross capital formation, and the balance of exports and imports of goods and services.
When determining GDP by the distribution method, it includes the following types of primary income paid by resident production units: wages of employees, net taxes on production and imports (taxes on production and imports minus subsidies on production and imports), gross profit and gross mixed income.
According to Keynesian model development of the economy, GDP in the simplest case is presented as the sum of 4 main components - this is the volume of consumption (C, from Consumption), the volume of investments (I, from Investments), government spending (S, from Government spending), and net exports, those. full export minus full import (E-M, from Export - iMport):
GDP = C + I + S + (E - M)
In the structure of consumption (C), 3 subclasses are usually distinguished: consumption of durable goods (more than 3 years) use (durable goods - cars, furniture, etc.), short-term (less than 3 years) use (nondurable goods - clothes, food, medicines, etc.). etc.) and services.
For example, in the US, durable goods account for about 15% of all consumption, nondurables - about 31%, and services - about 54%. Overall, C currently accounts for about 56% of US GDP and is thus its most important component.
Investments (I) are responsible for about 14% of GDP, government spending (S) - social payments, armaments, interest on government bonds, etc. - for 17%, and, finally, exports (E - M) - for about 13%. Note that for the United States it would be more logical to call the last component of GDP net imports, since this country imports incomparably more goods and services than it exports (i.e., the value of E - M is negative).
GDP per capita
No less important and, at the same time, more fully reflecting the standard of living in a particular country in the world compared to GDP is the indicator of Gross Domestic Product, calculated per capita. This indicator is calculated as the ratio of GDP to the population of the country and shows how much of the gross product produced in the country per year and expressed in value terms, falls on 1 inhabitant of this country. This indicator is used, first of all, to determine the standard of living of the population in a particular state.
GDP per capita in the 100 largest countries in the world in 2005
Data for 2014 can be viewed
place | country | GDP per 1 inhabitant, USD |
---|---|---|
1 | Luxembourg | 69,800 |
2 | Norway | 42,364 |
3 | USA | 41,399 |
4 | Ireland | 40,610 |
5 | Iceland | 35,586 |
6 | Denmark | 34,737 |
7 | Canada | 34,273 |
8 | Austria | 33,615 |
9 | hong kong | 33,411 |
10 | Switzerland | 32,571 |
11 | Qatar | 31,397 |
12 | Belgium | 31,244 |
13 | Finland | 31,208 |
14 | Australia | 30,897 |
15 | Netherlands | 30,862 |
16 | Japan | 30,615 |
17 | Germany | 30,579 |
18 | Great Britain | 30,470 |
19 | Sweden | 29,898 |
20 | France | 29,316 |
21 | Italy | 28,760 |
22 | Singapore | 28,100 |
23 | UAE | 27,957 |
24 | Taiwan | 27,572 |
25 | Spain | 26,320 |
26 | Brunei | 24,826 |
27 | New Zealand | 24,769 |
28 | Israel | 23,416 |
29 | Antilles | 22,750 |
30 | Greece | 22,392 |
31 | Slovenia | 21,911 |
32 | Cyprus | 21,232 |
33 | South Korea | 20,590 |
34 | Bahamas | 20,076 |
35 | Bahrain | 19,799 |
36 | Malta | 19,739 |
37 | Portugal | 19,335 |
38 | Czech Republic | 18,375 |
39 | Barbados | 17,610 |
40 | Hungary | 17,405 |
41 | Oman | 16,862 |
42 | Equatorial Guinea | 16,507 |
43 | Estonia | 16,414 |
44 | Kuwait | 16,301 |
45 | Slovakia | 16,041 |
46 | Saudi Arabia | 15,229 |
47 | Saint Kitts and Nevis | 14,649 |
48 | Trinidad and Tobago | 14,258 |
49 | Lithuania | 14,158 |
50 | Argentina | 14,109 |
51 | Poland | 12,994 |
52 | Mauritia | 12,966 |
53 | Latvia | 12,622 |
54 | South Africa | 12,160 |
55 | Croatia | 12,158 |
56 | Chile | 11,937 |
57 | Seychelles | 11,818 |
58 | Libya | 11,630 |
59 | Antigua and Barbuda | 11,523 |
60 | Botswana | 11,410 |
61 | Malaysia | 11,201 |
62 | Russia | 11,041 |
63 | Costa Rica | 10,434 |
64 | Mexico | 10,186 |
65 | Uruguay | 10,028 |
66 | Bulgaria | 9,223 |
67 | Romania | 8,785 |
68 | Brazil | 8,584 |
69 | Thailand | 8,319 |
70 | Kazakhstan | 8,318 |
71 | Tunisia | 8,255 |
72 | Grenada | 8,198 |
73 | Turkmenistan | 8,098 |
74 | Iran | 7,980 |
75 | Turkey | 7,950 |
76 | Tonga | 7,935 |
77 | Belize | 7,832 |
78 | Belarus | 7,711 |
79 | Maldives | 7,675 |
80 | Republic of Macedonia | 7,645 |
81 | Colombia | 7,565 |
82 | Saint Vicente and the Grenadines | 7,493 |
83 | Panama | 7,283 |
84 | China | 7,204 |
85 | Dominican Republic | 7,203 |
86 | Algeria | 7,189 |
87 | Ukraine | 7,156 |
88 | Namibia | 7,101 |
89 | Gabon | 7,055 |
90 | Lebanon | 6,681 |
91 | Dominica | 6,520 |
92 | Cape Verde | 6,418 |
93 | Fiji | 6,375 |
94 | Samoa | 6,344 |
95 | Venezuela | 6,186 |
96 | Bosnia and Herzegovina | 6,035 |
97 | Peru | 5,983 |
98 | Santa Lucia | 5,950 |
99 | Suriname | 5,683 |
100 | Serbia | 5,348 |