Per capita is a Latin term that translates to "by head" and that is interpreted as meaning per person. The World Bank. This also goes hand-in-hand with lowering unemployment; more employed people will raise the income per capita. The United States had $53,122 in disposable income per capita in 2018, the largest of any nation. We also reference original research from other reputable publishers where appropriate. Belgium, another European country, makes the top 10 list of countries based on $36,044 in disposable income per capita. The GNI per capita is the dollar value of a country's final income in a year, divided by its population. This differs from purchasing power parity (PPP), which is another measure of a country’s wealth. $727. Refined petroleum is its largest export category., Canada finishes the list with $35,772 in disposable income per capita in 2018. The country had a GDP of $1.86 trillion and a population of 37 million. The discovery of oil sands in Alberta has propelled the nation's economy and the country is one of the largest oil producers in the world. "Population, total - Germany." 3: Monaco: $115,700: 2015 est. less regulation, has improved the economy. Accessed Aug. 16, 2020. Per capita income of top ranker Qatar is over 7 times to the world GDP per capita and 183 times of lowest ranked Burundi of Int. Select Indicator, Part V: Households, Gross household adjusted disposable income per capita, US dollars, current prices and current PPPs. A standard of living refers to the amount and quality of material goods and services available to a given population. 5: Luxembourg: $106,300: 2017 est. Accessed Aug. 16, 2020. 10: Ireland: $75,500: 2017 est. Accessed Aug. 16, 2020. "Australia - Product Exports." The offers that appear in this table are from partnerships from which Investopedia receives compensation. Accessed Aug. 16, 2020. Organisation for Economic Co-operation and Development. Synopsis of GNI Research. Accessed Aug. 16, 2020. 4: Macau: $111,600: This refers to the average person's income available for spending and saving after taxes have been paid. Countries use various measures to gauge their wealth. Accessed Aug. 16, 2020. Observatory of Economic Complexity. "Germany - Product Exports." CSV XML EXCEL. Disposable income refers to the money remaining after taxes. income that is available for entertainment and other expenses not necessary for survival. Other top exports include cars, gold and vehicle parts.. Average annual wages per full-time equivalent dependent employee are obtained by dividing the national-accounts-based total wage bill by the average number of employees in the total economy, which is then multiplied by the ratio of average usual weekly hours per full-time employee to average usually weekly hours for all employees. A developed economy is one with sustained economic growth, security, high per capita income, and advanced technological infrastructure. The wage distribution is right-skewed; the majority of people earn less than the average wage. An easier way to increase income per capita is to increase the aggregate number of hours worked. Germany is also a major exporter of chemicals and has a GDP of $4.5 trillion., Australia's disposable income per capita was $40,237. Australia had a GDP of $1.34 trillion in 2018 and a population of almost 25 million people. The country is rich with natural resources, which is reflected in one of the primary engines of its economy—mining., Norway had $39,570 in disposable income per capita in 2018. With a population of 5.3 million people and a GDP of $359 billion, Norway makes its way with a natural resource-driven economy focused on oil, fisheries and metals. Online tool for visualization and analysis. "National Accounts at a Glance." Belgium had a population of … "Gross Output by Industry, Billions of Dollars, Seasonally Adjusted at Annual Rates." Money per capita can refer to income per capita, money supply per capita, gross domestic product (GDP) per capita, or even net worth per capita. Accessed Aug. 16, 2020. "Population, total - United States." Country GDP (PPP) per capita (2017) GDP (nominal) per capita (2017) vs. World PPP GDP per capita ($17,100) 1: Qatar: $128,647 : $61,264: 752% ; 2: Macao: $115,367 : $80,890: 675% ; 3: Luxembourg: $107,641 : $105,280: 629% ; 4: Singapore: $94,105 : $56,746: 550% ; 5: Brunei : $79,003 : $28,572: 462% ; 6: Ireland: $76,745 : $69,727: 449% ; 7: United Arab Emirates: $74,035 : $40,325: 433% ; 8: Kuwait: … That is, more employees going from part-time to full-time means more income per person. 8: Isle of Man: $84,600: 2014 est. 2: Qatar: $124,500: 2017 est. Accessed Aug. 16, 2020. Investing in technology can help make processes more efficient and boost income potential. The World Bank. Much of the country’s economic growth is driven by the energy industry, where renewable energy accounts for about 30% of gross domestic consumption., Belgium, another European country, makes the top 10 list of countries based on $36,044 in disposable income per capita. Belgium had a population of 11.4 million and a GDP of $597 billion in 2018. The country is world-renowned for its chocolate shops and factories. "Canada - Product Exports." We base this assignment on Gross National Income (GNI) per capita (current US$) calculated using the Atlas method. Accessed Aug. 16, 2020. The countries with the highest median incomes are: Below are the median household incomes and median per-capita incomes from the Gallup poll.
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