Gross World Product per capita

Gross world product per capita is obtained by adding the GDP of each of the countries and dividing the total GDP by the combined population of these countries.

GDP per capita of the World, comprising 194 economies, in 2024 is projected to be around $13,842 in nominal terms, obtained by data from the IMF. This figure is almost $435 more than compared to $13,407 in 2023. Global GDP per capita in terms of PPP is forecast to be around Int. $24,469, Int. $1,095 up compared to Int. $23,374 in 2023. Per capita income in PPP, which gives better living standard estimates, is 177% of the nominal.

During three years, global per capita income grew by over 4%, with the highest growth rate of 5.35 percent in 2021. Global GDP per capita contracted for six years, with the lowest of -3.91% in 2020.

In constant 2021 prices in PPP terms, which gives the best idea about improvement in living standards over the years, people of the world have become richer by 83% from Int. $11,271 in 1990 to Int. $20,661 in 2023, as estimated by the World Bank, comprising more than 200 economies. In the nominal method at 2015 prices, humans have become richer by 217% since 1960.

Nominal: The year 2021 was the best year at current and constant prices. The years 2015 and 2020 were the worst years at current and constant prices, respectively.

PPP: The year 2021 was the best year for the world when its figure had improved by Int. $1,025 at constant 2021 prices, next year of the worst 2020 when it had declined Int. $752. At current prices, 2021 and 2020 were the best and worst years, respectively.