GDP Per Capita

Understanding Gross Domestic Product: Part 10

Sun Dec 28, 2014 | 12:00am

The table in Figure 6 in the previous column shows the GDP per capita for the most populous economic regions in the world. However, the information in this table leaves out all the other countries, so it doesn’t answer the question: Which country has the highest GDP per capital in the world? Let’s do that now.

To answer this question, take a look at the table in Figure 7 below. In this case, because we are interested in all countries, I have included the countries with a high GDP per capita that are part of the European Union: Luxembourg, Norway, Denmark, Sweden, Austria, Netherlands, and Germany.

(I have purposely left out two tiny countries, Monaco and Liechtenstein, because they are much too small to be of interest to us. However, I will point out that because of their size and characteristics, both these countries actually have a larger GDP per capita than the regular-sized countries in this list.)

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