In particular, the funding decisions of institutions like the Global Fund and the World Banks IDA fund depend on whether or not a country is a LIC, and would therefore need to alter their aims and/ or funding models with so few countries eligible. Under SSP5, the median growth among these countries is projected to be 5.7 percent (amounting to a five-fold increase by 2050) and under SSP3, it is projected to be 2.2 percent (GDP per capita would roughly double). They comprise five stylized narratives (SSP1-5), which generate a set of conditional forecasts based on certain assumptions holding true (for instance, on the rate of frontier growth and convergence speed). Map of sovereign states in Europe by projected 2022 GDP (PPP) per capita based on international dollars. The study also examines to what extent public social spending is subject to a straightforward relationship with expected Poorer countries see more deaths in the wake of natural disaster, are ranked as the most vulnerable to climate change by various climate vulnerability indices, and are more reliant on industry and income-sources that are the most likely to me impacted by climate change, such as agriculture. GDP per capita PPP If the current trends for each country continued up to 2026, and if all countries at the end of the IMFs forecast will converge to a common global (and modest) growth rate of 2% per year, then what would the world look like? For more details about the changes between versions, see a detailed data file for v27, For transparency, we provide the files that we used to calculate this data, which can be found, Any questions about the data and suggestions for how to improve it are always very welcome, Fertility and income by quintile Documentation, HIV/AIDS: Prevalence and number of people, How the Households Incomes on Dollar Street are calculated, Excel file with data and summary meta-data. WebStats Download The Gross Domestic Product per capita in Iran was last recorded at 14971.25 US dollars in 2020, when adjusted by purchasing power parity (PPP). Gross domestic product (GDP) per capita (in PPP dollars) in Colombia from 2006 to 2028 (in thousand PPP dollars) [Graph]. Gapminder's tools and teaching materials are free, and always will be free. Gapminder v27: This is the previous version of GDP per capita published by Gapminder, and which was based on World Bank, IMF, and historical time series from the Maddison Database Project 2018 version, PWT 9.1 and GM-GDP per Capita v14 (documented and detailed based on multiple sources but mostly based on Agnus Maddison). GDP at purchaser's prices 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. International Comparison Program, World Bank | World Development Indicators database, World Bank | Eurostat-OECD PPP Programme. This forms part of our work on the future of development, which attempts to address key questions including: What can we expect from economic growth over the coming decades, and what implications will this have for development and multilateral agencies? Economic forecasts are never very reliable, and we do these projections only to visualize an if-then-scenario. (April 7, 2023). Business Solutions including all features. Lists of countries by GDP - Wikipedia source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API simon wren-lewis on Twitter GDP per capita, PPP (constant 2011 international $). For more details on previous versions, see the documentations below. Documentation (pdf), Documentation of version 8(pdf) New Zealands business migration categories are designed to contribute to economic growth, attracting smart capital and business expertise to New Zealand, and enabling experienced business people to buy or establish businesses in New Zealand. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information Bulgaria was the EU Member State with the lowest GDP per capita, at 41 % below the EU average. By continuing to use the site you agree to. If the current trends for each country continued up to 2027, and if all countries at the end of the IMFs forecast will converge to a common global (and modest) growth rate of 2% per year, then what would the world look like? April 7, 2023. In general, we connected Gapminder historical data in version 26 to MPD/ PWT data and adjusted the data based on the earliest available year with data in MPD or PWT. Our data continues into the future up to 2026, based on forecasts from theIMF, in their World Economic Outlook 2021, April edition. We use GM-GDP per Capita v27 for the historical time series which are not available in the Maddison Project database or Penn World Table. IMF. In more recent years, between 1990 and 2019, we usethe GDP per capita data from the World Bank, published in March 2021 in their World Development Indicators. 2018. Table 2. GDP per capita, PPP (constant 2017 international $), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. October 2021. Share in the global GDP adjusted for PPP in Bolivia from 2006 to 2028 [Graph]. If youre aware of work in this area please get in touch. For more details on previous versions, see the documentations below. After, we connected the historical estimates to World Bank data by smoothly transitioning our historic trend over a period of 30 years to reach World Bank data for the first year it is available. Taiwan is the remaining gainer among the top 20 richest economies. Ideas to action: independent research for global prosperity, 2023 Center for Global Development|Privacy Notice and Cookie Policy, Climate Finance Is the Elephant in the Room at COP26, Ten Times Bigger? So, what do they say about the future of development? . WebThe Gross Domestic Product per capita in India was last recorded at 6592.04 US dollars in 2021, when adjusted by purchasing power parity (PPP). $10,000 - 15,000 $15,000 - $20,000 $20,000 - $30,000 $30,000 - $45,000 $45,000 - CGD blog posts reflect the views of the authors, drawing on prior research and experience in their areas of expertise. GDP simon wren-lewis on Twitter The per capita income in real terms (at 2011-12 prices) during 2020-21 is estimated at Rs. International Comparison Program, World Bank | World Development Indicators database, World Bank | Eurostat-OECD PPP Programme. GDP per capita is a country's gross domestic product divided by the country's total population. For more details about the changes between versions, see a detailed data file for v27here. We made an exception for countries with MPD data available for the year 1820 or earlier, where we then used MPD data without any adjustment. This means that many countries moved their position in our bubble charts as the updated data changed drastically. Read more at loopia.com/loopiadns . Our data continues into the future up to 2026, based on forecasts from the, IMF, in their World Economic Outlook 2021, April edition. SSP2 represents a business-as-usual scenario, where current trends continue; whereas SSP5 is the most optimistic for global growth, and SSP3 the most pessimistic. This blog briefly reviews various projections for economic development to 2050 and takes a closer look at arguably the most authoritative assessment of what the longer-term future might hold for development, the Shared Socioeconomic Pathways (SSPs), produced for the IPCC. from the OECD and researchers at PwC and Goldman Sachs) often tend to focus on a limited number of large economies, such as those in the OECD and G20. Gapminder fights devastating misconceptions and promotes a fact-based worldview everyone can understand. The gross domestic product (GDP) per capita (in PPP dollars) in Panama was forecast to continuously increase between 2023 and 2028 by 4.7 thousand PPP dollars (+14.34 The GDP per Capita, in Israel, when adjusted by Purchasing Power Parity is equivalent to 237 percent of the world's average. We use GM-GDP per Capita v26 for the historical time series which are not available in the Maddison Project database or Penn World Table. simon wren-lewis on Twitter Answering this question visually helps us show how much richer the world would become even with a modest growth rate. DataOnline spreadsheet with data for countries, regions and global total v28. Currently, you are using a shared account. 2021. Gapminder is an independent Swedish foundation with no political, religious or economic affiliations. In some cases, the new estimates and forecasts made countries much richer than previous releases. Our data continues into the future up to 2027, based on forecasts from the, IMF, in their World Economic Outlook 2022, April edition. Were not claiming that this is what will happen. While the difference does not seem large in any one year, when compounded over three decades, this is the difference between growing by 70 percent, and 290 percent. GDP per capita measures the value of everything produced in a country during a year, divided by the number of people. Protect your company name, brands and ideas as domains at one of the largest domain providers in Scandinavia. The number of LICs has been steadily declining over time, and even under the most pessimistic scenario this is set to continue, with the number projected to halve by 2050. GDP per capita (2017 USD, PPP) 2026. International Comparison Program (ICP) - World Bank Group Under SSP4, the figure would only be 4 percent. A worldwide statistical initiative to collect comparative price data and detailed GDP expenditures to produce purchasing power parities (PPPs) for the worlds economies to convert volume and Were particularly interested in progress of lower-income countries. For more details on previous versions, see the documentations below. Following the definitions provided by the International Monetary Fund, this indicator describes the share of a country's gross domestic product in the global gross domestic product. 1. simon wren-lewis. This makes it arguably more accurate with regard to country-to-country comparisons. Purchasing Power Parity: Weights Matter - IMF The gross domestic product (GDP) per capita (in PPP dollars) in El Salvador was forecast to continuously increase between 2023 and 2028 by 0.8 thousand PPP dollars (+8.42 percent). GDP per capita (2015 USD) 2033. Shared Socioeconomic Pathways Database. The gross domestic product (GDP) per capita (in PPP dollars) in Colombia was forecast to continuously increase between 2023 and 2028 by 1.6 thousand PPP dollars (+10.08 percent). WebGDP per capita (nominal) is a raw figure that does not take into account the differences in the cost of living between one country and another. April 7, 2023. Share in the global GDP adjusted for PPP in Suriname from 2006 to 2028 [Graph]. "Gross domestic product (GDP) per capita (in PPP dollars) in Colombia from 2006 to 2028 (in thousand PPP dollars)." We use GM-GDP per Capita v26 for the historical time series which are not available in the Maddison Project database or Penn World Table. ), Excel-file with data & meta-data v26 This site uses cookies to optimize functionality and give you the best possible experience. The data is adjusted for inflation and differences in the cost of living between countries, known as WebGDP per capita measures the value of everything produced in a country during a year, divided by the number of people. Gapminder's tools and teaching materials are free, and always will be free. GDP per Capita by Country US$ in Current Prices 10 United States 62,795 24 New Zealand 41,945 20 Canada 46,233 2 Luxembourg 116,640 13 Sweden 54,608 PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. Gross domestic product 2021, PPP - World Bank Nevertheless, the balance between countries likely to be net providers, and net receivers, is going to shift, even in the most pessimistic scenario. CGD is a nonpartisan, independent organization and does not take institutional positions. GDP per capita, PPP (current international $) International Comparison Program & Purchasing Power Parity. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. In contrast, GDP per capita (PPP) factors in each countrys relative cost of living and inflation rate. GDP per capita v25 An interactive map with estimated data for 2022 from the IMF, using GDP based on purchasing power parity (PPP) per capita, shown in current international dollars. While the decline in LICs would be a positive story, it also calls into question appropriateness of certain funding models. Compared to these two groups of forecasts, the US Department of Agriculture (USDA) strikes more of a balance with its decade-long time horizon and coverage of 181 countries. We made an exception for countries with MPD data available for the year 1820 or earlier, where we then used MPD data without any adjustment. This site uses cookies to optimize functionality and give you the best possible experience. Available: https://www.statista.com/statistics/1391991/gross-domestic-product-gdp-per-capita-in-ppp-dollars-colombia/, Gross domestic product (GDP) per capita (in PPP dollars) in Colombia from 2006 to 2028, Immediate access to statistics, forecasts & reports, Monthly change of incoming orders in manufacturing sector in Germany 2020-2022, Change of incoming orders in the construction industry in Germany 2022-2023, Number of building permits for residential and non-residential buildings Germany 2021, Economic expectations based on the ZEW index in Germany 2020-2022, DIW economic barometer development for Germany Q4 2020-Q4 2022, Development of the ifo Business Climate Index in Germany 2020-2022, ifo Business Climate balance for the economy in Germany 2021-2022, ifo Business Climate balance for the manufacturing sector in Germany 2021-2022, Gross domestic product (GDP) in Germany Q3 2018-Q3 2022, Output change of the goods-producing industry in Germany 2022, by segment, Development of producer prices in Germany 2022-2023, Monthly change of export volume in Germany 2022-2023, Monthly change of import volume in Germany 2022-2023, Quarterly private and government consumption expenditure change in Germany 2018-2022, Ratio of government expenditure to gross domestic product (GDP) in Germany 2028, Y-o-y disposable income and consumer spending change private households Germany 2022, Annual average unemployment figures for Germany 2005-2023, Monthly unemployment rate in Germany 2022-2023, Monthly number of unemployed persons in Germany March 2022-March 2023, Number of job openings reported in Germany 2011-2023, Number of corporate insolvencies in Germany 1950-2020, Forecast for the economic development in Germany 2021-2022, Year-on-year GDP development in Germany 2007-2024, Number of unemployed people Germany 2009-2023, Gross domestic product (GDP) per capita (in PPP dollars) in Colombia from 2006 to 2028 (in thousand PPP dollars), Find your information in our database containing over 20,000 reports. Create your website with Loopia Sitebuilder. Projections of GDP are available from a number of key sources, outlined in Table 1 below. Gross domestic product 2021, PPP (millions of Ranking Economy international dollars) 1 China 27,312,548 2 United States 22,996,100 PPP is purchasing power parity; an international In, IMF. and over 1Mio. GDP per capita, PPP (current international $) - Middle income | Data The SSPs imply radically different futures. And while they are intended to cover a range of outcomes, some projections look fanciful (the Democratic Republic of Congos GDP is projected to be 30 times bigger by 2050 according to SSP5). Before the World Bank series starts in 1990, we have used several sources: Maddison Project Database: The Maddison Project was started in March 2010 by a group of Angus Maddisons close colleagues, with the aim of supporting an effective cooperation between scholars to continue Maddisons work on measuring economic performance for different regions, time periods and subtopics. The MPD built on Maddisons original dataset. In Statista. You only have access to basic statistics. Under the most optimistic scenario (SSP5), growth in median countrys GDP per capita will average around 4.6 percent, whereas the under the least optimistic (SSP3), the median country will grow at around 1.7 percent on average. Business and economics portal Contents/Lists portal List of IMF ranked countries by GDP ( data is not current ), IMF ranked GDP (nominal), GDP (nominal) per capita, GDP (PPP), GDP (PPP) per "Gross Domestic Product (Gdp) per Capita (in Ppp Dollars) in Colombia from 2006 to 2028 (in Thousand Ppp Dollars). Try looking at growth since 2016 in GDP per capita, and come back to me. If you continue to navigate this website beyond this page, cookies will be placed on your browser. In general, we connected Gapminder historical data in version 27 to MPD/ PWT data and adjusted the data based on the earliest available year with data in MPD or PWT. The gross domestic product (GDP) per capita (in PPP dollars) in Nicaragua was forecast to continuously increase between 2023 and 2028 by 0.8 thousand PPP dollars (+12.9 percent). Before the World Bank series starts in 1990, we have used several sources: Maddison Project Database: The Maddison Project was started in March 2010 by a group of Angus Maddisons close colleagues, with the aim of supporting an effective cooperation between scholars to continue Maddisons work on measuring economic performance for different regions, time periods and subtopics. To calculate per capita figures these GDP forecasts must be combined with independent population projections; (b) Some forecasts are not calculated using PPP (GEP, WESP, USDA, Goldman Sachs). source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API Embed Yet perhaps the most useful set of long-term growth projections to date come from the Shared Socioeconomic Pathways (SSP) Database. Penn World Table: We use data from the Penn World Table version 10.0 of the Groningen Growth and Development Centre, which is a platform for research on economic growth and development. The GDP per Capita, in Iran, when adjusted by Purchasing Power Parity is equivalent to 84 percent of the world's average. Any questions about the data and suggestions for how to improve it are always very welcome in our data forum. In future publications we will take a closer look at long-term economic growth scenarios, the SSPs and their plausibility, and explore how (or whether) they should change the way we think about the future of development. Multiple Dimensions of Human Development Index and Sub-Saharan Africas share of global GDP would be highest under SSP5, at 7 percent (up from around 3 percent today), but this would still be for a region with nearly a fifth of the global population. International Household Survey Network (IHSN) Our data continues into the future up to 2027, based on forecasts from theIMF, in their World Economic Outlook 2022, April edition. WebAn interactive map with estimated data for 2022 from the IMF, using GDP based on purchasing power parity (PPP) per capita, shown in current international dollars. There are currently 30 countries categorised as LICs according to the World Bank (those with income per head below $1,035, that we estimate to be equivalent to $2,919 in 2017 purchasing power parity terms). Show publisher information Statista. Learn more about how Statista can support your business. If you continue to navigate this website beyond this page, cookies will be placed on your browser. UN World Economic Situation and Prospects, USDA ERS International Macroeconomic Data Set. While all the scenarios suggest that by 2050 there will be some dent in regional inequalities, it will not be significant in any of them. The data is adjusted for inflation and differences in the cost of living between countries, known as PPP dollars. Were not claiming that this is what will happen. GDP per capita PPP Two SSPs even anticipate there being only one LIC (Somalia) by this year(though this seems implausible based on history). We have applied the IMF expected changes rates on WB estimates. In the latter, it would be as rich as Canada ($46,000). World Economic Outlook (October 2022) - GDP per capita, Login to Loopia Customer zone and actualize your plan. GDP Under SSP3again, the least optimisticthe number of countries above that level rise from 88 in 2020, to 118 in 2050, over half the countries in the world. GDP Per Capita The ideal entry-level account for individual users. Gross domestic product (GDP) per capita (in PPP dollars) in El Salvador from 2006 to 2028 (in thousand PPP dollars) [Graph]. We used MPD data wherever data is available. those numbers are expressed in PPP 2015 and we have converted them to PPP 2011 which 1. simon wren-lewis.