GDP Per Capita by Country

Afghanistan has the second lowest GDP per capita at $368.75. The country has faced decades of conflict, political instability, and security challenges, which have hindered economic development.

Australia's GDP per capita stands at $60,443. The country benefits from its abundant natural resources, including minerals, natural gas, and agricultural products. Australia's strong ties to the Asia-Pacific region, advanced financial sector, and vibrant industries such as mining, tourism, and education contribute to its high GDP per capita.

Austria has a GDP per capita of $53,638. The country's strong economy is driven by sectors such as services, manufacturing, and high-end technology. Austria is known for its quality craftsmanship, automotive industry, tourism, and financial services. The country's strategic location in Central Europe further enhances its economic stability and growth.

Bermuda has the third highest GDP per capita at $114,090. Bermuda's thriving offshore financial sector, which includes insurance and reinsurance industries, has been a major driver of its high GDP per capita. The country's favorable tax regime, skilled workforce, and strong infrastructure have also played a significant role in attracting international businesses and high-income individuals.

Burundi has the lowest GDP per capita standing at $221.48. The country's low GDP per capita can be attributed to various factors, including political instability, widespread poverty, limited access to education and healthcare, and a primarily agrarian economy that faces challenges such as land scarcity and climate vulnerability.

Canada has a GDP per capita of $51,988. The country's strong economy benefits from its rich natural resources, including oil, gas, minerals, and forests. Canada also excels in industries such as manufacturing, finance, technology, and services. The country's stability, quality of life, and skilled workforce contribute to its high GDP per capita.

The Cayman Islands has the seventh highest GDP per capita at $86,569. The Cayman Islands' thriving financial services sector, including offshore banking and investment management, has been instrumental in its high GDP per capita. The absence of direct taxation and a well-regulated business environment have attracted international corporations and wealthy individuals to the country.

The Central African Republic has the fourth lowest GDP per capita at $461.14. The country has faced a long history of political instability, ethnic tensions, and armed conflict. These factors, along with poor infrastructure, limited access to education and healthcare, and a predominantly subsistence-based agricultural economy, contribute to its low GDP per capita.

The Democratic Republic of the Congo (DRC) has a GDP per capita of $577.21. The country has faced years of political instability, armed conflict, and weak governance. The DRC is rich in natural resources, including minerals like cobalt and copper, but the exploitation of these resources has been plagued by corruption and mismanagement. Additionally, inadequate infrastructure, poor healthcare, and limited access to education contribute to the DRC's low GDP per capita.

Denmark boasts a GDP per capita of $68,008. The country's strong welfare state, high standard of living, and well-regulated market economy contribute to its high GDP per capita. Denmark has a diverse economy, with key sectors including manufacturing, services, renewable energy, and pharmaceuticals.

The Faroe Islands – a Danish territory – has the tenth highest GDP per capita at $69,010. The Faroe Islands' high GDP per capita is primarily driven by its fishing industry, which contributes significantly to its economy. Additionally, the islands have benefited from investments in renewable energy, tourism, and the development of niche industries.

Finland's GDP per capita is $53,655. The country has a well-diversified economy with a strong focus on technology, innovation, and research. Finland's key sectors include telecommunications, electronics, forest industry, and clean technology. Additionally, Finland boasts high-quality education and a skilled labor force, contributing to its economic prosperity.

Iceland has a GDP per capita of $68,728. The country's high GDP per capita can be attributed to its thriving tourism industry, renewable energy sector, and robust fisheries. Additionally, Iceland benefits from a well-functioning welfare system, strong infrastructure, and a highly educated workforce.

Ireland has the fourth highest GDP per capita at $100,172. Ireland's GDP per capita is primarily due to its status as a global hub for technology and multinational corporations. The country has attracted significant foreign direct investment, particularly from the tech industry, benefiting from its skilled workforce, favorable tax policies, and membership in the European Union.

Israel's GDP per capita is $52,171. The country has a highly developed and diversified economy, with strong sectors such as technology, innovation, and defense. Israel is known for its advanced research and development, high-tech start-ups, and thriving industries in areas like cybersecurity, biotechnology, and aerospace.

Luxembourg has the second highest GDP per capita at $133,590. Luxembourg's high GDP per capita is primarily driven by its robust financial services sector, hosting numerous international banks and investment firms. The country's favorable business environment, political stability, and advantageous tax policies have attracted foreign investments, contributing to its strong economic performance.

Madagascar has the seventh lowest GDP per capita at $500.51. The country faces challenges such as political instability, weak governance, and environmental vulnerability which contribute to its low GDP per capita.

Malawi has the ten lowest GDP per capita at $634.84. The country faces challenges such as widespread poverty, limited access to education and healthcare, and a predominantly agrarian economy. Malawi relies on subsistence farming, and the agriculture sector is vulnerable to weather patterns and climate change. Inadequate infrastructure, high population growth, and low industrial development contribute to its low GDP per capita.

Monaco has the highest GDP per capita standing at $234,316. Monaco's GDP per capita can be attributed to its status as a global financial hub and a popular tourist destination, attracting wealthy individuals and generating substantial revenue from sectors such as finance, real estate, and the casino industry.

Mozambique has the sixth lowest GDP per capita at $491.84. The country has faced economic challenges such as inadequate infrastructure, limited access to education and healthcare, and vulnerability to natural disasters. Although Mozambique has significant natural resources, including natural gas and minerals, these resources have yet to be fully exploited to drive economic growth and development.

The Netherlands has a GDP per capita of $57,768. The country is known for its open economy, advanced logistics, and highly developed infrastructure. The Netherlands excels in sectors such as manufacturing, services, agriculture, and international trade, making it a prominent player in global markets.

Niger has the ninth lowest GDP per capita at $590.63. The country faces significant economic challenges such as a predominantly agrarian economy, vulnerability to climate change, and limited access to basic services. Niger's economy heavily relies on subsistence agriculture and faces persistent food insecurity. Factors like high population growth, desertification, and inadequate infrastructure contribute to its low GDP per capita.

Norway has the sixth highest GDP per capita at $89,154. Norway's prosperity is primarily driven by its abundant natural resources, particularly oil and gas reserves. The country has effectively managed its petroleum wealth through a sovereign wealth fund, providing stability and economic growth. Additionally, Norway has a well-functioning welfare system and high standards of living, further contributing to its high GDP per capita.

Qatar has a GDP per capita of $66,838, primarily driven by its vast oil and natural gas reserves. The country has successfully transformed its energy wealth into a modern and prosperous economy. Qatar invests heavily in infrastructure development, tourism, finance, and real estate, positioning itself as a regional hub for business and trade.

Sierra Leone has the fifth lowest GDP per capita at $480.04. The country has faced challenges such as civil war, political instability, and inadequate infrastructure which contribute to its low GDP per capita.

Singapore has the eighth highest GDP per capita at $72,794. Singapore's economic success can be attributed to its strategic location, excellent infrastructure, and pro-business policies. The country has positioned itself as a global trade and financial center, attracting foreign investments, fostering innovation, and nurturing a competitive business environment.

Somalia has the third lowest GDP per capita at $446.98. The country has experienced prolonged political instability, civil unrest, and lack of effective governance, which have severely hampered its economic growth.

Sweden has a GDP per capita of $61,029. The country's high GDP per capita can be attributed to its knowledge-based economy, innovation, and a strong focus on research and development. Sweden has thriving sectors such as manufacturing, information technology, green technology, and healthcare, contributing to its economic success.

Switzerland has the fifth highest GDP per capita at $91,992. Switzerland's strong economy is characterized by a highly developed financial sector, precision manufacturing, and a thriving pharmaceutical industry. Its reputation for quality products, technological innovation, and political stability has contributed to its high GDP per capita.

The US GDP per capita is one of the highest GDP per capita in the world at $70,249. The economy is highly diversified and characterized by its large consumer market, technological innovation, and significant contributions from sectors such as finance, healthcare, and technology. Its entrepreneurial culture, access to capital, and robust infrastructure contribute to its high GDP per capita.