GDP per capita

GDP divided by population: what a country produces per person.

GDP per capita is a country's GDP divided by its mid-year population: the value of goods and services produced per person. It is a common gauge of average living standards, but it says nothing about how income is shared. The World Bank computes it from national accounts and population estimates in two ways: in current US dollars at market exchange rates, and at purchasing power parity (PPP), which corrects for price differences between countries using the International Comparison Program's prices. PPP is the fairer way to compare living standards. Neither measure is adjusted for inflation over time.

In current US dollars, converted at each year's market exchange rate. Prices differ between countries, so a dollar does not buy the same everywhere.