The Gross Domestic Product per capita, or 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.
What is Gross Domestic Product (GDP)?
Gross domestic product ( GDP) is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic health of a country or region.
What is GDP per capita?
Gross domestic product per capita is a global measurement used by economists to gauge the prosperity of nations based on economic growth. There are a few ways to analyze a country’s wealth and prosperity. GDP per capita is the most universal because its components are regularly tracked on a global scale, providing ease of calculation and usage.
