What Does Gross Domestic Product Per Capita Mean?

The gross domestic product per capita, or GDP per capita, is a measure of a country's economic output that accounts for its number of people. It divides the country's gross domestic product by its total population.

Which is the measure of Gross Domestic Product per capita?

krisanapong detraphiphat / Getty Images The gross domestic product per capita, or GDP per capita, is a measure of a country's economic output that accounts for its number of people. It divides the country's gross domestic product by its total population.

What is the PPP adjusted GDP per capita?

GDP per capita (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates and divided by total population. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States.

Which is the highest per capita GDP in the world?

As of 2020, GDP per capita based on PPP in Luxembourg was 112,875 international dollars. The top 5 countries also includes Singapore, Qatar, Ireland, and Switzerland. GDP per capita (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates and divided by total population.

How does GDP per capita relate to standard of living?

GDP per capita is a country’s economic output divided by its population. It's a good representation of a country's standard of living. It also describes how much citizens benefit from their country's economy. Purchasing power parity compares different countries’ economic output.

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