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Per Capita GDP

Updated on May 18, 2024 , 25336 views

What is Per Capita GDP?

Per capita GDP is a measure of the total output of a country that takes the Gross Domestic Product (GDP) and divides it by the number of people in that country. GDP per capita is an important indicator of economic performance and a useful unit to make cross-country comparisons of average living standards and economic wellbeing. The per capita GDP is especially useful when comparing one country to another, because it shows the relative performance of the countries. A rise in per capita GDP signals growth in the Economy and tends to reflect an increase in productivity.

GDP-percapita

GDP is calculated by either adding up the annual incomes of all working-age citizens or by totaling the value of all final goods and services produced in the country during the year. Per capita GDP is sometimes used as a standard of living indicator, with a higher per capita GDP equating to a higher standard of living.

Per capita GDP can also be used to measure the productivity of a country's workforce, as it measures the total output of goods and services per each member of the workforce in a given nation.

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Individual Countries Ranked by Per Capita GDP

The International Monetary Fund ranks each country each year based on its per capita GDP. Here is a list of the top 10 nations the highest per capita GDP as of September 2021.

  • Luxembourg
  • Switzerland
  • Ireland
  • Norway
  • United States
  • Denmark
  • Iceland
  • Singapore
  • Australia
  • Qatar

India GDP Per Capital

The economy of India is the third-largest by Purchasing Power Parity (PPP) and world's sixth-largest economy by nominal GDP.

Nominal GDP per capita or GDP per capita at current prices in 2020-21 is estimated at Rs. 145,679 against Rs. 151,760 for 2019-20. According to the IMF World Economic Outlook (April - 2021), nomial GDP per capita of India in 2021 is projected at $2,191 at current prices.

Economy of India

Parameters Statistics
Population 1,400,000,000 (2021 est.)
GDP $3.29 trillion (nominal; 2022 est.), $11.60 trillion (PPP; 2022 est.)
GDP rank 6th (nominal; 2021), 3rd (PPP; 2022)
GDP by sector Agriculture: 16.38%, Industry: 29.34%, Services: 54.27%(FY 2020-21)
Inflation 4.35% (September 2021). 4.9% (2020)
Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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