Gross Domestic Product", Investopedia: Gross Domestic Product (GDP), U.S. Bureau of the Census: Population Clock Projection, How to Convert a Quicken File to QuickBooks, How to Combine Stacked and Clustered Charts in Excel, How to Export From Oracle 10G Grid Control to Microsoft Excel.

Pinterest. Carter McBride started writing in 2007 with CMBA's IP section. According to IMF World Economic Outlook, USA scored 17,968 billion dollars in the year 2015 and came world’s one of the largest economy. The gross domestic product (GDP) per capita figures on this page are derived from PPP calculations. This makes for the best and most efficient way to compare the GDP of countries with various population sizes. Formula to calculate GDP per capita.

Per capita GDP is the most universal because its components are regularly tracked on a global scale, providing for ease of calculation and usage. To calculate GDP per capita, divide the nation's gross domestic product by its population. If you need to obtain the percentage of days of the month, try our Days In The Month Percentage Calculator. The pieces of cake everyone get in their plates, is the per capita, the more bigger are the pieces, indicates the larger size of a cake and this larger size of cake shows the efficient and more productivity. Example: The United States had $18 trillion in gross domestic product in a certain year. Determine the country's GDP located on the Bureau of Economic Analysis' Table 1.1.5, located in the resources. GDP per capita is gross domestic product divided by midyear population. Let us take the example of a country with the following information for the year 2018.

Most Recent Year. Most Recent Value. Thus, the GDP per capita of the United States in that year was $72,000. This calculator is designed to give the percentage change from one number value to another, on a per capita basis. Per capita GDP is directly working for healthy performance of a nation and indirectly working for nation’s standard of living. Boom! Great ideas come up with great solution of the problems. The Census Bureau estimated the population was 319 million, so you have $16.768 trillion divided by 319 million, or a per capita GDP of $52,564.

It has marked a significant effect to the worldwide. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. That’s why it drags the concept of standard of living too. This site uses Akismet to reduce spam. Thus, the GDP per capita of the United States in that … For quality of life, non-material aspects are important such as relationships, emotions, freedom, and satisfaction, but to measure objectively it’s difficult to do. Determine the population of the country by accessing the United States Bureau of the Census webpage (See Resources). The GDP of a country is calculated by dividing a country's total domestic output by its population. However, in the second graph when we have divided the national income of USA with its population, we came up with the figure 54,629 dollars as their GDP per individual that contributed to their country. Country . The GDP is the gross domestic product of a country. You can also find GDP information on financial websites. U.S. Census Bureau: New Census Bureau Report Analyzes U.S. Population Projections, International Monetary Fund: Gross Domestic Product -- An Economy’s All. He has written for Bureau of National Affairs, Inc and various websites. To correct for inflation, economists calculate real GDP, which means gross domestic product adjusted for inflation. Real GDP per capita is easily calculated by dividing the real GDP by the population of a certain country. Next Article .

In the example, $14,453,800,000,000 divided by 309,598,418 equals $46,685.64. For example, the GDP for the United States in 2014 was $16.768 trillion. As have been discussed above that Per capita GDP helps to tell the actual growth. GDP is typically figured for periods such as one year or one quarter.

Formula to calculate GDP per capita. If you just need information on percent change, use our Percentage Change Calculator. US GDP in 2014 is 17.35 trillion dollars, now that US should spread her national income among her population which is 319 million people. If you add up the value of all the goods and services produced in a country, you get the gross domestic product, or GDP.

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