As per data which forms part of the latest World Economic Outlook report of the International Monetary Fund (IMF), India ranks 126th out of 200 countries in terms of Gross Domestic Product (GDP) per capita
Highlights of IMF Data on GDP Per Capita of Countries:
- GDP Per Capita of a country is computed by dividing its gross domestic product(GDP) by the number of people in the country. In theoretical terms, higher GDP per capita results in to a higher standard of living.
- India’s rank has improved by one spot as compared to previous year’s rank. This improvement is on account of increase in GDP to USD 7170 in 2017, from USD 6690 in the previous year.
- However, India still ranks lower among BRICS nations on this parameter. Brazil’s GDP Per Capita is USD 15500, Russia – USD 27900, China – USD 16620 and South Africa – USD 13,400.
- Despite of India’s low rank, it is interesting to know that India is home to 2.45 lakh millionaires with a total household wealth of USD 5 trillion (as per Credit Suisse report).
- Qatar topped the rankings with GDP Per Capita of USD 124930. Interestingly, despite low unemployment and growth in consumption and investment, US with GDP Per Capita of US 59500 did not feature among the Top 10 countries.
- As per a recent report of Fortune magazine on this data of IMF, economy of many countries having high GDP Per Capita, such as Brunei and Qatar, is highly dependent on oil, whereas countries like Iceland have strong banking and investment systems.
Top 10 Countries in terms of GDP Per Capita:
|Rank||Country||GDP Per Capita|
|9||United Arab Emirates (UAE)||$68250|