In this post, we examine how countries rank by GDP per capita, based on 2024 IMF data. There is some difference between GDP and GDP per capita. While GDP indicates total economic output of a country, GDP per capita indicates the average economic output per person by dividing it with the population of the country. The population factor makes countries with lesser populations appear at the top.
That is the reason Luxembourg is the country with the highest GDP per capita in 2024, while it was ranked third in 2014. It has a population of 669,000 and has $144K GDP per capita in 2024. It is followed by Macao and then Ireland in second and third position respectively.
The USA is the only top ten economy with the highest GDP per capita in 2024. Ranking at ninth position, it has GDP per capita of $85K. There are only two countries with more than 10 million population being ranked in the top 14. These two countries are the USA and Taiwan.
In the 2014 ranking of countries with the highest GDP per capita, Saudi Arabia, Hong Kong, Kuwait and Andorra were present. But they have left the top 14 list. The countries which have been added in the top 14 list are Guyana, Denmark, Ireland and Taiwan.
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That is the reason Luxembourg is the country with the highest GDP per capita in 2024, while it was ranked third in 2014. It has a population of 669,000 and has $144K GDP per capita in 2024. It is followed by Macao and then Ireland in second and third position respectively.
The USA is the only top ten economy with the highest GDP per capita in 2024. Ranking at ninth position, it has GDP per capita of $85K. There are only two countries with more than 10 million population being ranked in the top 14. These two countries are the USA and Taiwan.
In the 2014 ranking of countries with the highest GDP per capita, Saudi Arabia, Hong Kong, Kuwait and Andorra were present. But they have left the top 14 list. The countries which have been added in the top 14 list are Guyana, Denmark, Ireland and Taiwan.
| Rank | Country | GDP per Capita 2024 | Population |
|---|---|---|---|
| 1 | Luxembourg | $144K | 669,000 |
| 2 | Macao SAR | $134K | 704,000 |
| 3 | Ireland | $134K | 5,200,000 |
| 4 | Singapore | $134K | 5,900,000 |
| 5 | Qatar | $112K | 2,700,000 |
| 6 | United Arab Emirates | $97K | 9,500,000 |
| 7 | Switzerland | $92K | 8,900,000 |
| 8 | San Marino | $87K | 33,000 |
| 9 | United States | $85K | 334,000,000 |
| 10 | Norway | $83K | 5,500,000 |
| 11 | Guyana | $80K | 813,000 |
| 12 | Denmark | $78K | 5,900,000 |
| 13 | Brunei | $78K | 452,000 |
| 14 | Taiwan | $77K | 23,900,000 |
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