GDP per capita

GDP per capita, or Gross Domestic Product per capita, is a crucial indicator used to gauge the economic performance and standard of living within a country. By dividing the nation's total economic output by its population, GDP per capita provides an average economic value generated per person, reflecting overall prosperity and affluence. This measurement helps in comparing the economic health between different countries or regions, offering insights into productivity, investment, and wealth distribution. GDP per capita is often employed by policymakers, economists, and researchers to develop strategies, compare economic performance, and identify areas needing improvement for sustainable development.