Home| Fashion Tech Hackathon| Bahrain Center for Human Rights| Movies

List of countries by GDP: GDP Per Capita of Countries in 2023

Home | NWS8

Post on .

According to the International Monetary Fund (IMF), the estimated global Gross Domestic Product (GDP) for 2023 will be $105.6 trillion. GDP refers to the total value of goods and services produced within a country. The United States is projected to have the highest GDP in 2023 at $26.9 trillion, followed by China at $19.4 trillion. Japan, Germany, and the United Kingdom round out the top five countries with the highest estimated GDPs in the world.

However, in terms of GDP per capita - the value obtained by dividing a country's GDP by its population - the ranking undergoes a shift. The IMF projects the global GDP per capita to reach $13,440 by 2023, a signifier of residents' standard of living. The nations with the highest GDP per capita are predominantly developed economies.

According to the IMF, the top five countries with the highest GDP per capita in 2023 are:

  1. Qatar - $128,647
  2. Luxembourg - $118,710
  3. Singapore - $107,271
  4. Switzerland - $94,406
  5. Norway - $93,099

It is important to note that the distribution of GDP per capita figures is narrower than that of nominal GDP per capita figures. Any non-sovereign entities and states with limited international recognition found in sources are included on the list for comparison purposes, but are not ranked in the charts.

Tax havens' nominal GDP per capita figures are often skewed as a result of tax-based corporate accounting entries. Many of the top jurisdictions with high GDP per capita are considered tax havens, and their economic statistics may be artificially inflated.

In terms of nominal GDP per capita, the top five countries in 2023 are:

  1. Qatar - $128,647
  2. Macao SAR - $123,739
  3. Luxembourg - $118,710
  4. Singapore - $107,271
  5. Brunei Darussalam - $97,019

The International Monetary Fund (IMF) also offers data on GDP per capita utilizing the measure of relative purchasing power of different currencies called purchasing power parity (PPP). In 2023, according to IMF rankings, the five countries with the highest GDP per capita based on PPP are:

  1. Qatar - $139,784
  2. Macao SAR - $127,710
  3. Luxembourg - $118,710
  4. Singapore - $107,271
  5. United Arab Emirates - $94,195

In conclusion, the figures for GDP and GDP per capita offer valuable insight into a country's economic performance. Although the United States possesses the world's largest GDP, Qatar tops the list for the highest GDP per capita based on all three measures: nominal, PPP, and IMF estimates. Advanced economies dominate the countries ranked by GDP per capita, while tax havens and non-sovereign entities are included in the ranking for nominal GDP per capita.