It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Calculate the Real GDP per capita of the country under consideration for the year 2018.. GDP per capita from the World Bank (in constant 2011 international $) vs. GDP per capita from the Maddison Project (in 2011US$, single benchmarks) GDP per capita in England; GDP per capita in US$ World Bank (1960 to 2017) GDP per capita vs population density; GDP per person employed (constant 2011 PPP $) Global Hunger Index vs. GDP per capita GDP per capita in Venezuela averaged 13344.54 USD from 1960 until 2014, reaching an all time high of 15739.38 USD in 1977 and a record low of 9830.74 USD in 2003. Trends in Nebraska Real GDP. You can compare the GDP by year to fiscal and monetary policies to get a complete picture of what works and what doesn't in the U.S. economy. The Gross Domestic Product per capita in China was last recorded at 8254.30 US dollars in 2019. Real GDP shows what GDP would have been in each year if it were priced in 2012 dollars. Liberia Real GDP per capita in US constant 200 dollars (inflation-adjusted). Kimberly Amadeo is an expert on U.S. and world economies and investing, with over 20 years of experience in economic analysis and business strategy. These extreme swings in the business cycle put today's economic climate in perspective. What Happened in the U.S. Economy in 2012? GDP per capita is calculated by dividing either nominal or real GDP for a given year by the population in that year. $13,965 (2019 est.) US GDP Per Capita 1980-2020. Real Connecticut per-capita GDP is 7.68% higher today than 5 years prior in 2014. Brazil Real GDP Per Capita table by year, historic, and current data. Real Kansas GDP, at $176.493 bn in 2019, is at the highest level recorded to date. The current base year is 2012. The US GDP during 1980 was $2,857 billion and GDP per capita was $12,553. Example of the Real GDP Per Capita. GDP 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. In calculating the per capita real GDP, the real GDP is divided by the Census Bureau’s annual midyear (July 1) population estimates for the year. The GDP per Capita in China is equivalent to 65 percent of the world's average. During 2018, the US real GDP growth was 2.9%. Real Indiana GDP, at $379.684 bn in 2019, is at the highest level recorded to date. Trends in New York Real GDP. GDP per capita is gross domestic product divided by midyear population. Gross Domestic Product, National Income and Product Accounts Tables: Table 1.1.3. Find Out GDP 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. The BEA also calls it the "current-dollar GDP" since it's measured as a dollar amount and it doesn't take factors like inflation into account. Experts use nominal GDP to compare economic output to U.S. debt, which is also measured in dollars without adjusting for inflation. Nominal GDP is the total U.S. economic output for that year. The period from which the weights for a measurement series are derived. The top 5 countries also includes Norway, Ireland, Switzerland, and Denmark. "Why Are Real Estimates Rebased?" Over the 5 years ending in 2019 the Missouri economy grew in real terms by 6.66% at a compound annual growth rate of 1.30% per year.   You'll notice that nominal and real GDP are the same in 2012. Keep in mind, when reviewing this history, that the BEA measures GDP in two ways: nominal GDP and real GDP. The U.S. real GDP growth rate since 1929 has varied from -12.9% to 18.9%. Here's a list of indicators and historical events that closely relate to the U.S. economy: Bureau of Economic Analysis. Over the 5 years ending in 2019 the Indiana economy grew in real terms by 7.85% at a compound annual growth rate of 1.52% per year. Real New York GDP, at $1,772.261 bn in 2019, is at the highest level recorded to date. U.S. gross domestic product (GDP) by year is a good overview of economic growth in the United States. GDP per capita in Nepal averaged 413.68 USD from 1960 until 2019, reaching an all time high of 859 USD in 2019 and a record low of 266 USD in 1960. GDP per capita in Egypt averaged 1575.83 USD from 1960 until 2019, reaching an all time high of 3008.80 USD in 2019 and a record low of 578.30 USD in 1960. The GDP per Capita in Kenya is equivalent to 10 percent of the world's average. The table below lists countries in the world ranked by GDP at Purchasing Power Parity (PPP) per capita, along with the Nominal GDP per capita. Over the 5 years ending in 2019 the Florida economy grew in real terms by 21.55% at a compound annual growth rate of 3.98% per year. GDP per capita, PPP (current international $), GDP per capita, PPP (constant 2017 international $), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. US Real GDP Per Capita table by year, historic, and current data. Current US GDP Per Capita is 64,985.48. This implies an increase of 8-times in the US GDP and 5-times in the US GDP per capita during the 40-year period from 1980 to 2020. note: data are in 2017 dollars. In that time the population in Connecticut shrank by 29,237 (-0.81%) people. $2,034 (2018 est.) API This statistic shows GDP per capita by state in the United States in 2018. To calculate real GDP, the BEA starts with a reference year. In the United States, the BEA calculates real GDP using 2012 as the base year. The current base year is 2012. You'll notice that nominal and real GDP are the same in 2012. Real GDP per capita is a country's economic output for each person adjusting for inflation. national income and product accounts (NIPAs), National Income and Product Accounts Tables: Table 1.1.5. $2,058 (2017 est.) World Bank national accounts data, and OECD National Accounts data files. Bureau of Economic Analysis. These numbers can be thought of as the average share of output per person. Real Florida GDP, at $1,106.500 bn in 2019, is at the highest level recorded to date. Real Nebraska GDP, at $130.012 bn in 2019, is at the highest level recorded to date. The chart below provides the US GDP per capita data from 1980 to 2020. It’s an important metric to keep in mind when analyzing countries economies, but it’s not the end all be all. Rebasing changes the reference year (or base year) for the real (chained dollar and quantity index) estimates and price indexes and expresses GDP and other NIPA aggregates in terms of the prices of one year. The GDP growth rate shows whether the country’s economy is flourishing or taking a dive. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.