1. What is GDP per Capita?

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, showing the average economic output per person.

2. How Does the Calculator Work?

The calculator uses the GDP per capita formula:

Where:

• GDP — Total gross domestic product in US dollars
• Population — Total number of people in the country

Explanation: This simple division gives the average economic output per person, which is a useful metric for comparing living standards between countries of different sizes.

3. Importance of GDP per Capita

Details: GDP per capita is a key indicator of economic performance and living standards. It allows for better comparisons between countries than total GDP alone, as it accounts for population differences.

4. Using the Calculator

Tips: Enter GDP in US dollars and population as a whole number. Both values must be positive (GDP > 0, population ≥ 1).

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between GDP and GDP per capita?
A: GDP measures a country's total economic output, while GDP per capita shows the average output per person, providing better insight into living standards.

Q2: What are typical GDP per capita values?
A: Developed countries typically have GDP per capita above $30,000, while developing nations may be below $10,000. The global average is around $12,000.

Q3: What are limitations of GDP per capita?
A: It doesn't account for income inequality, cost of living differences, or non-market activities that affect quality of life.

Q4: Should I use nominal or PPP GDP?
A: Nominal GDP (used here) compares absolute values, while PPP-adjusted GDP accounts for cost of living differences between countries.

Q5: How often is GDP per capita calculated?
A: Most countries calculate it annually, though some publish quarterly estimates. International organizations like the World Bank maintain comprehensive databases.