x(1125).png?788168040 "Economy: Largest GDP per capita, by country"){kind=logo}
| Country | GDP per capita, in USD |
|---|---|
 Luxembourg | 126,598.10 |
 Norway | 105,825.93 |
 Ireland | 103,311.01 |
 Switzerland | 93,657.23 |
 Qatar | 83,521.00 |
 Singapore | 82,807.65 |
 United States of America | 76,343.25 |
 Iceland | 74,590.51 |
 Denmark | 68,294.91 |
 Australia | 64,813.85 |
 Netherlands | 57,427.76 |
 Sweden | 56,188.32 |
 Canada | 55,036.52 |
 Israel | 54,336.84 |
 San Marino | 52,447.43 |
 Austria | 52,191.77 |
 United Arab Emirates | 51,399.96 |
 Finland | 51,029.52 |
 Belgium | 49,843.16 |
 Germany | 48,756.31 |
- Region: Worldwide
- Time period: 2022
- Published: Oct 2023
Data Analysis and Insights
Luxembourg leads in GDP per capita
Luxembourg boasts the highest GDP per capita, standing at $126,598.10, significantly outpacing Norway, the second-highest, by nearly $21,000.Top 5 countries exceed $80,000 in GDP per capita
The top five countries, including Luxembourg, Norway, Ireland, Switzerland, and Qatar, all have a GDP per capita exceeding $80,000, showcasing a substantial economic advantage over other nations.European dominance in the top 10
Seven out of the top 10 countries with the highest GDP per capita are located in Europe, highlighting the continent's significant economic prosperity.Significant drop after the top three
There is a notable decrease in GDP per capita after Ireland, the third-ranked, at $103,311.01, to Switzerland, the fourth, at $93,657.23, indicating a substantial economic gap within the top ranks.United States leads among large economies
The United States stands out as the country with the highest GDP per capita among large economies, at $76,343.25, showcasing its economic strength compared to other populous nations.Middle East representation by Qatar and UAE
Qatar and the United Arab Emirates represent the Middle East among the top countries, with GDP per capita figures of $83,521 and $51,399.96, respectively, reflecting the region's wealth from natural resources and diversified economies.Narrow margin between Austria and UAE
The GDP per capita difference between Austria ($52,191.77) and the United Arab Emirates ($51,399.96) is relatively small, at less than $800, indicating close economic performance.Canada and Israel closely matched
Canada and Israel have nearly identical GDP per capita, with figures of $55,036.52 and $54,336.84, respectively, showcasing their comparable economic statuses.Europe's strong presence in top 20
Europe has a dominant presence in the list, with 12 countries featured in the top 20 for GDP per capita, underscoring the continent's overall economic health and development.Australia as the sole representative of Oceania
Australia stands as Oceania's only country in the top 20, with a GDP per capita of $64,813.85, highlighting its economic prominence in the region.Frequently Asked Questions
Which country has the highest GDP per capita?
How many countries in the top 10 for GDP per capita are in Europe?
Seven out of the top 10 countries with the highest GDP per capita are located in Europe.
What is the GDP per capita for the United States?
The United States has a GDP per capita of $76,343.25, the highest among large economies.
Terms and Definitions
Gross domestic product is the total value of all goods and services produced within a nation's borders in a specific time period, usually annually. It serves as a comprehensive measure of a nation’s overall economic activity.
Per capita GDP is a measure that breaks down the GDP of a country to a per-person level. It is calculated by dividing the GDP of a country by its total population. This measure gives a more precise view of the economic well-being and standard of living of the people in a country.
Economic well-being refers to the level of prosperity and quality of living standards in a society. The term often encompasses not only wealth and employment, but also the built environment, physical and mental health, education, recreation, and leisure time.
Standard of living refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area.
The GDP growth rate measures how fast the economy is growing. It does this by comparing one quarter of the country's GDP to the previous quarter. A positive growth rate indicates that the economy is on the rise, while a negative growth rate signals economic decline.
Economic activity refers to the actions that involve the production, distribution, and consumption of goods and services within an economy. It encompasses all activities related to employment, sales, investments, public expenditure, and production within the country.
A socioeconomic class is a group of people with similar social, economic, educational, or professional status. It heavily influences an individual's or a group's access to goods, services, and opportunities.
Per capita income is a measure of the amount of money that each person earns, on an average, in a particular region. It is calculated by dividing the total income of a region by its total population.
Purchasing power parity is an economic theory that compares different countries' currencies through a "basket of goods" approach. It tries to ascertain the relative values of two currencies and allows a more direct comparison of economic efficiency and living standards between countries.
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