How do you visualize GDP per capita?

GDP per capita is shown on the vertical axis as the bar height for each country. Each economy’s size in terms of its share of world total real GDP is thus represented by the area of its rectangle, which is the product of GDP per capita and population.

Is GDP per capita an economic indicator?

GDP per capita stands for Gross Domestic Product (GDP) per capita (per person). GDP per capita is an important indicator of economic performance and a useful unit to make cross-country comparisons of average living standards and economic wellbeing.

Can you tell GDP is a good indicator of an economy?

GDP is an accurate indicator of the size of an economy and the GDP growth rate is probably the single best indicator of economic growth, while GDP per capita has a close correlation with the trend in living standards over time.

How do economists determine the real GDP per capita?

Real GDP per capita is a measurement of the total economic output of a country divided by the number of people and adjusted for inflation. It’s used to compare the standard of living between countries and over time.

How does GDP per capita relate to GDP?

GDP per capita is a critical metric for understanding the economy. It’s a measure of a country’s economic output that takes into account the number of people who live there. GDP per capita takes the gross domestic product and divides it by the number of people who live there.

What are the colors of GDP per capita?

The color corresponds to the GDP per capita in each country, with dark green being the richest at over $100,000 and dark pink the poorest at less than $1,000. A few countries are shaded light gray because data were not available. We wanted to break down this world map in a new light to really unearth the vast differences of wealth it displays.

What’s the GDP per capita of South America?

South America looks like an explosion of small pink countries, indicating a relatively low GDP per capita. Uruguay is the most well-off ($17,380), followed by Chile ($16,143). Compare these countries to Brazil ($9,127), which usually gets a lot of press attention for the overall size of its economy.