Yearly Income Per Country

We base this assignment on gross national income gni per capita current us calculated using the atlas method.

Yearly income per country. The oecd organization for economic co operation and development dataset contains data on average annual wages for full time and full year equivalent employees in the total economy. Average monthly net salary of employees in 2016 by education level average monthly salary in private sector in sweden 2014 2019. The world bank classifies the world s economies into four income groups high upper middle lower middle and low. Gross national income gni per capita by country.

Prior to fy19 the income category of a country was not one of the factors which influenced lending decisions. According to 2013 data from gallup the median household income worldwide is 9 733. The gni per capita is the dollar value of a country s final income in a year divided by its population. As is evidenced by our list high gnis are characteristically accompanied by well developed economies and high quality of life.

Average annual wages per full time equivalent dependent employee are obtained by dividing the national accounts based total wage bill by the average number of employees in the total economy which. Countries with the lowest median income include libera burundi mali benin togo sierra leone and madagascar. In our comparison over 78 countries the usa comes 9th with an average income of 65 760 usd. The countries with the highest median incomes are.

The 28 poorest countries in the world where people live on less than 1 000 per year there are many things to take into account when comparing yearly income averages across. Per capita income in selected countries italy. Income groupings remain fixed for the entire world bank fiscal year i e until july 1 of the following year even if gni per capita estimates are revised in the meantime. The average income is calculated by gross national income and population.

The small country of luxembourg with an estimated population of about 608 000 people in 2018 had 47 138 in disposable income per capita that year putting it second in the the. Following norway and qatar is luxembourg with a gni of 69 thousand per capita and iceland with a per capita gni of 67 thousand. Knowing a country s gni per capita is a good first step toward understanding the country s economic strengths and needs as well as the general standard of living enjoyed by the average citizen. On dividing all annual incomes and profits by the amount of the countrie s population it will show the average income per capita.