Richest Countries By GDP

Readers Question: Is Real GDP per head a better indicator of living standards compared to growth of Real GDP? Why?

Real GDP per capita shows the average income of a country. If Liechtenstein has 0% growth of Real GDP in 2008, average incomes will reamin $118,000.

A country like India may have GDP per head of $2,800, with Real GDP Growth of 6% meaning next year GDP per capita will be around $3,000. But India’s average living standards are going to be still much lower than Liechtenstein with 0% growth. Economic growth just measures how living standards are changing.

List of Countries by GDP per Capita.

If you look at these countries,  the top 30 are dominated by small countries with low tax rates. These tax havens encourage rich people to live there so they can avoid paying taxes, but, the countries produce little. Note: Iceland’s figures have taken a real battering since their crisis of 2008.

  1. Liechtenstein     $ 118,000     2007 est.
  2. Qatar     $ 103,500     2008 est.
  3. Luxembourg     $ 81,100     2008 est.
  4. Bermuda     $ 69,900     2004 est.
  5. Kuwait     $ 57,400     2008 est.
  6. Jersey     $ 57,000     2005 est.
  7. Norway     $ 55,200     2008 est.
  8. Brunei     $ 53,100     2008 est.
  9. Singapore     $ 52,000     2008 est.
  10. United States     $ 47,000     2008 est.
  11. Ireland     $ 46,200     2008 est.
  12. Guernsey     $ 44,600     2005
  13. Cayman Islands     $ 43,800     2004 est.
  14. Hong Kong     $ 43,800     2008 est.
  15. Andorra     $ 42,500     2007
  16. San Marino     $ 41,900     2007
  17. Switzerland     $ 40,900     2008 est.
  18. Netherlands     $ 40,300     2008 est.
  19. United Arab Emirates     $ 40,000     2008 est.
  20. Iceland     $ 39,900     2008 est.
  21. Canada     $ 39,300     2008 est.
  22. Austria     $ 39,200     2008 est.
  23. Sweden     $ 38,500     2008 est.
  24. British Virgin Islands     $ 38,500     2004 est.
  25. Gibraltar     $ 38,200     2005 est.
  26. Australia     $ 38,100     2008 est.
  27. Belgium     $ 37,500     2008 est.
  28. Denmark     $ 37,400     2008 est.
  29. Bahrain     $ 37,200     2008 est.
  30. Finland     $ 37,200     2008 est.
  31. United Kingdom     $ 36,600     2008 est.

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