GDP per Capita

Gross Domestic Product (GDP) per Capita is a measure of the average economic output or income per person in a country. It’s calculated by dividing the total value of all goods and services produced within a country (GDP) by the population. This figure helps compare living standards and economic well-being between countries or over time. A higher GDP per Capita typically indicates a wealthier or more productive economy, giving a general sense of the average person’s economic situation, though it doesn’t reflect income distribution or personal wealth exactly.