Section 1. GDP per capita. In the World, real Gross Domestic Product (GDP) per capita, has almost double for the period 1995-2024, in spite of a great increase in World Population (5,7 Billion people in 1995, 8,2 Billion people in 2024). GDP per capita evolved from an average of 11429 in year 1995 to 19552 in year 2019 and 21405 in year 2024.
The yearly rate of growht was higher for the period 1995-2019 (2.26%) than for the period 2019-2024 (1.83%).
Yearly Rate of Growth of GDP per capita for 2019-2024: The following tables show the Yearly Rate of growth of real GDP per capita, at 2021 prices and purchasing power parities, for the period 2019-2024. We classify countries into 5 groups accordingly to their level of GDP per capita in year 2019.
Group 1 includes countries with very high level of GDP per capita in year 2019 (over 50000 Dollars): 8 countries of this group has experienced a diminution of the variable, 15 countries a moderated growth below 2% and 3 countries had an average yearly rate higher than 2%. The highest rate corresponded to Ireland.
Group 2, includes countries with GDP per capita,, at 2021 prices, between 25000 and 50000 Dollars: 4 countries of the group experienced a negative yearly rate, many experienced a positive rate below 2% and 9 countries of the group experienced a rate higher than 4. The highest rate corresponded to Croatia and Turkiye
Group 4. It includes countries below World average, with GDP per capita between 5000 and 15000 Dollars, at 2021 prices, in year 2019.
Summary: Yearly Rates of growth of GDP per capita 2019-2024
Group 3: it includes countries with GDP per capita in year 2019 around World average (between 15000 and 25000): 4 countries of this group experienced a negative rate, 10 countries had a positive rate below 2%, and 12 has a positive rate higher than 4%.
Group 4. It includes countries below World average, with GDP per capita between 5000 and 15000 Dollars, at 2021 prices, in year 2019.
Group 5. Includes countries with very low valur of real GDP per capita
This report was addressed to update the information of the 164 countries analyzed in Guisan(2021) until year 2024.
1) No data. In 3 countries not available data for 2024: Afghanistan, Lebanon and Tonga
2) Negative Yearly rate: In 41 countries there was a negative rate of variation of real GDP per capita for the period 2019-2024, as follows:
8 countries of Group 1: Austria, Canada, Finland, Germany. Kuwait, Luxembourg, Qatar, United Arab Emirate (UAE).
4 countries of Group 2: Estonia, Oman, Seychelles, Trinidad&Tobago.
4 countries of Group 3: Botswana, Equatorial Guinea, Gabon, Ukraine.
14 countries or territories in Group 4: Angola, Bolivia, Congo R, Iraq, Libya, Mianmar, Namibia, Nigeria, Sao Tome&Principe, South Africa, Sri Lanka, Timor Leste, Tunisia, West Bank&Gaza
11 countries in Group 5: Burundi, Central African R, Chad, Haiti, Lesotho, Madagascar, Malawi, Mali, Mozambique, Papua-New Guinea, Sudan.
3) Positive and moderate Yearly rate of growth of GDP per capita, between 0% and 2%, n 69 countries:
15 countries and territories of Group 1
21 countries of Group 2
10 countries of Group 3
15 countries of Group 4
8 countries of Group 5
4) Positive and high Yearly rate of growht of GDP per capita, between 2% and 4% in 31 countries
2 countries of Group 1: Bermuda, Malta
7 countries of Group 2: Bulgaria, Cyprus, Greece, Korea R, Poland, Romania, Russian F.
6 countries of Group 3: Bosnia&Herzegovina, Costa Rica, Dominican R, Egypt AR, Montenegro, North Macedonia
5 countreis of Group 4: Bangladesh, India, Indonesia, Iran IR, Viet Nam
11 countries of Group 5: Benin, Congo DR, Ethiopia, Gambia, Guinea, Guinea-Bissau, Niger, Togo,Uganda, Zambia, Zimbabwe
5) Positive and very high Yearly rate between 4% and 6% in 15 countries
1 couuntry in Group 1: Ireland
2 countries in Group 2: Croatia and Turkiye
4 countries in Group 3: Albania, Armenia, China, Serbia.
6 countries in Group 4: Bangladesh, Djibouti, India, Indonesia, Iran IR, Vietnam
2 countries in Group 5: Rwanda, Tajikistan
6) Positive and excepcionally higher Yearly rate, higher than 6% in 2 countries:
1 country in Group 3: Georgia
1 country in Group 6: Guyana
An overview of economic development for 2021-2024:
44 countries had negative yearly rate (41) or not available (3)
69 countries had a low positive rate (0% to 2%)
31 countriss had a high positive rate (2% to 4%)
18 countries had a very high positive rate: between 4% and 5% (16 countries) or higher than 6% (2 countries).
The balance is that only 49 out of 164 countries (around 30%) had a high or very high positive yearly rate of growth of GDP.
51 countries of Groups 4 and 5, with GDP in year 2019 below 15000 Dollars at 2021 prices, have not experienced increases higher than 2% for the period 2019-2024: 26 with a decrease, 2 not available data, 23 with increase lower than 2%.
27 countries of Groups 4 and 5, experienced an increase higher than 2% for the period 2019-2024.
Thus 75%, out of the 68 countries of Groups 4 and 5, experienced not growth or moderate growth, and only 25% experienced a yearly increase higher than 2% for the period 2019-2024.
Better economic policies are possible and necessary to reach better economic opportunities in the World.
Selected readings on Development of 164 countries, 1995-2024:
The journal AEID (Applied Econometrics and International Development) has published several interesting articles on World Development of 164 countries, like the following ones, which are free downloadable at Ideas.Repec, by clicking on "Abstract" of each article:
Development and Financial Indicators in 164 countries: Analysis of causality for 2021. GUISAN, Maria-Carmen Abstract (AEID 24-1)
Political Stability, Peace And Economic Development In 164 Countries, 2010-2020, Guisan, M.C. Abstract (AEID 22-1)
World Development For 1995-2020: Econometric Relationships Of Human Capital, Development, Quality Of Government And Life Satisfaction In 164 Countries, Guisan, M.C Abstract (AEID 21-2)
Those articles include analysis of econometric relationships and data for the variables.
The article by Guisan(2021), in AEID 21-2, includes data and analysis of GDP per capita, of each country, at 2017 prices and parities, for 1995-2019, as well as indicators of Education, Fertility, Happiness, Quality of Government, Peace and Homicides rate.
This report by Guisan(2026) will include, at a Document of the Series Economic Development, data and analysis of GDP per capita, of each country, at 2021 prices and parities, for 2019-2024, as well as an analysis of some indicator of quality of life for that period.
Section 2. Quality of Life: Indicator of Happiness (WHR2025)
World Happiness Report 2025 presents data for 147 countnries of the Happiness index (dcimal scale with 0 minimum and 10 maximum) in year 2024, and the change for the period 2012-2024.
We presenta summary.
Top 14 countries with Happiness indicator higher that 6.9 in year 2024 where, in alphabetical order:
Australia, Belgium, Costa Rica, Denmark, Finland, Iceland, Israel, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Sweden, Switzerland
They occupy the best positions, but 10 out of 14 of these countries have experencied a diminution of the Happiness index for the period 2012-2024.
Countries in ranking 1 to 25 have experienced a diminution in 14 otu of 25.
Countries in ranking 26 to 50 have experienced a dminution in 6 out of 25
Countries in ranking 51 to 75 have experienced a diminution in 6 out of 25
Countries in ranking 76 to 100 have experienced a diminution in 2 out of 25
Countries in ranking 101 to 125 have experienced a diminution in 7 out of 25
Countries in ranking 126 to 147 have experienced a diminution in 17 out of 21
It is really sad to notice diminutions in quality of life, particularly in countries with very low levels of development and quality of life.
The countries with the owest levels in year 2025 (hapiness index below 4), where 17, in alphabetical order:
Afghanistan, Bangladesh, Botswana, Comoros, Congo DR, Ethiopia, Egyp AR, Eswatini, Lebanon, Lesotho, Malawi, Sierra Leone, Sri Lanka, Tanzania, Yemen, Zambia, Zimbabwe.
Entry to be updated in the next weeks.
