GDP per Capita is an economic metric that provides insight into the economic output of a country per unit of it’s population.
It is simply obtained by dividing the Gross Domestic Product of a country by its population. U.S Dollars is globally used as a reference.
Thus, a country with a GDP of $100 Billion and a population of 1 million, will have a per Capita GDP of $10,000 per Capita.
GDP measures the economic productivity of a country. Per Capita GDP measures the economic growth with the population.
If a population is growing faster than it’s GDP, it has a negative effect on per Capita GDP.
According to knomena, as at 2020, Monaco had the highest nominal per Capita GDP in the world at $159,222 per Capita.
African countries have low GDP per Capita. Data from Statista reveals the 10 African countries with the highest per Capita GDP.
1. Seychelles: At $9,670, this island nation currently has the highest GDP per capita in Africa.
2. Mauritius: The second position is occupied by yet another island African country, Mauritius. This country has a GDP per capita of $9,640.
3. Gabon: This oil-rich country comes in at third position with a GDP per capita of $8,600.
4. Equatorial Guinea: This country has a GDP per capita of $8000.
5. Botswana: This Southern African country has a GDP per capita of $7,820.
6. South Africa: This country is one of Africa’s leading economies. And it has a GDP per capita of $5, 440.
7. Namibia: Namibia has a GDP per capita of $4, 370, according to Statista.
8. Egypt: This is one of only two North African country that made it to the top 10 list, and it has a GDP per capita of $3,830.
9. Eswatini: Formally known as Swaziland, this Southern African country has a GDP per capita of $3,710.
10. Tunisia: Tunisia, another North African country, has a GDP per capita of $3,680.
Nigeria’s GDP per Capita stood at $2,097.09 as at 2020.
