Per capita Income
Per-capita income is the income earned by the person living in the country. It determines the average income earned by the people of the country. It shows the quality of life of people. The country with a high per capita income has a good lifestyle, whereas the country with a high per capita income has a miserable lifestyle. Luxembourg has the highest per capita income in the world, with $128,820 in 2023.
The top 10 countries with the highest per capita income in the world is below:
|
S.No |
Country |
Per Capita Income ($) |
|
1 |
Luxembourg |
1,28,820 |
|
2 |
Ireland |
1,06,998 |
|
3 |
Switzerland |
94,835 |
|
4 |
Qatar |
89,417 |
|
5 |
Norway |
88,749 |
|
6 |
Singapore |
84,501 |
|
7 |
United States |
78,422 |
|
8 |
Iceland |
77,961 |
|
9 |
Australia |
68,024 |
|
10 |
Denmark |
66,394 |
Per Capita in the Context of Nepal
As per the World Bank and the Organization for Economic Co-operation and Development (OECD), the per capita income of Nepal is $1,336.5 in 2022. The total population of Nepal is approximately 30 million, and every Nepalese earns $1,336.5 on average in Nepal. Nepal is ranked 111st in the global economy.
The per capita income of Nepal in the last 10 years is shown below:
|
Year |
Per Capita Income ($) |
|
2013 |
809.4 |
|
2014 |
827.7 |
|
2015 |
882.3 |
|
2016 |
880.2 |
|
2017 |
1,028 |
|
2018 |
1,161.5 |
|
2019 |
1,185.7 |
|
2020 |
1,139.2 |
|
2021 |
1,129.4 |
|
2022 |
1,336.5 |
Per capita income in Nepal is on the rise, except in 2020, which is an exception, so we are hopeful for better per capita income in the coming years.