Following Norway is Qatar with roughly $62,900 USD. The economy is dominated by the service sector with 80% of all jobs, whereas about 11% of all employees work in manufacturing and 2% in agriculture. Adjusted net national income per capita (constant 2010 US$) The latest value for Adjusted net national income per capita (constant 2010 US$) in Austria was 39,821 as of 2017. Japan — GDP per capita: $38,893 (£31,732) 29. The GDP per capita listed represents the amount of wealth produced in 2016 and is expressed in international dollars. The income classification is based on a measure of national income per person, or GNI per capita, calculated using the Atlas method. Median equivalised disposable income in the EU highest in Luxembourg and lowest in Romania. Here's a breakdown of what their cut of $100 would be: The U.S. comes in first place, holding $29.40, or almost a third of total wealth, while China comes in second, accounting for $17.71. Austria gdp per capita for 2017 was $47,427, a 4.68% increase from 2016. Studies 31, 1-12. Aggregates. Austria - Gross national income per capita in current prices. GDP per capita in Austria averaged 30757.19 USD from 1960 until 2020, reaching an all time high of 46717.72 USD in 2019 and a record low of 12046.31 USD in 1960. Which 4-digit postal codes have the highest per capita income in Austria? The Per capita income of $47,461.19 places Iceland at 7th position on productivity index, and 5th in terms of GDP (PPP) across the world and 8th on our list of richest European nations. Average annual hours worked per employed person, 2008 III. In Austria the following postal code areas have the . This records a decrease from the previous number of 33,640.000 EUR for Dec 2020. The United States comes eighth, with just around $44,200 USD, a bit more than half the per capita income of . Austria gdp per capita for 2018 was $51,478, a 8.54% increase from 2017. Iceland is ranked 7th on the productivity index, 5th in terms of GDP (PPP), and 8th on our list of wealthiest European countries, with a per capita income of $47,461.19 dollars. 17 of the top 19 countries by manufacturing, value added > current US$ per capita are High income OECD. Iceland is a country with a high standard of living. The question of whether there is a tendency for regional convergence has become a central topic for economic research. License : CC BY-4.0. Luxembourg, a tiny European country, was found to have the fourth-highest wealth per capita, at $300,000. 7. (see Data FAQs) Austria generates quarterly house price indices for Vienna and for all-Austria, based on private sources, but no actual house prices, and no rents data. This paper examines growth and dispersion of output per capita across nine Austrian regions and 84 districts. Though Austria GNI per capita, atlas method (current US$) fluctuated substantially in recent years, it tended to increase through 1998 - 2018 period ending at 49,310 current US$ in 2018. less regulation, has improved the economy. GDP per capita, 2008 Chart 2. LineBarMap. Austria Per capita income: $50,504 . Under a federal system of government, Austria is occupied by more than 8 million inhabitants. Per capita income, also known as income per person, is the mean income of the people in an economic unit such as a Country or city.Per capita income is often used as average income, a measure of the wealth of the population of a nation, particularly in comparison to other nations. 30. The Bahamas - The Bahamas has a per capita income of US$32,715, largely due to the country's off-shore banking industry and its small population. The Gross Domestic Product per capita in Austria was last recorded at 51935.60 US dollars in 2020, when adjusted by purchasing power parity (PPP). GNI per capita of Austria increased from 2,378 US dollars in 1971 to 48,051 US dollars in 2020 growing at an average annual rate of 6.97%. GDP per capita is a country's GDP divided by its population. 1 Belgium had a population of 11.6 million and . It is located between Belgium, France and Germany. of Pennsylvania. NATIONAL INCOME PER CAPITA While per capita gross domestic product is the indicator most commonly used to compare income levels, two other measures are preferred, at least in theory, by many . In 2011, it was ranked 19th in the world for its Human Development Index. Gross national income (GNI) per capita (constant 2017 PPP$) n.a. Levels of actual individual consumption were somewhat more homogeneous, but still showed significant differences across Europe. The GDP per Capita, in Austria, when adjusted by Purchasing Power Parity is equivalent to 292 percent of the world's average. Austria Disposable Income: per Capita data is updated yearly, averaging 28,140.000 EUR from Dec 1995 to 2021, with 27 observations. Austria gdp per capita for 2019 was $50,122, a 2.64% decline from 2018. Downloadable (with restrictions)! HOFER H. and WÖRGÖTTER A. Estimated gross national income per capita, female (2017 PPP $) n.a. Per capita income is the average income in a specific economic or geographic area per person residing in that economic or geographic area. Recommend (3) Comment (0) Ask. Iceland has a high standard of living due to its natural resources and the country's economic growth. * It c. Area. The gross domestic product (GDP) per capita is the national output, divided by the population, expressed in U.S dollars per person, for the latest year for which data is published. 2. (1997) Regional per capita income convergence in Austria, Reg. Austria is a quite high-ranked country when it comes to average income (International Monetary Fund, 2017). Definition: GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas . Bulgaria was the Member State with the lowest GDP per capita, at 45% below the EU average. Gross fixed capital formation (% of GDP) n.a . . While per capita exports are relatively low, the United States is the largest importer of goods and the second-largest exporter. GDP per capita (current US$) - Austria. According to Forbes, the country's . Similar values. GDP. Per capita income does not reflect the standard of living of the people. While the term "high-income" is often used interchangeably with "First World" and "developed country," the technical definitions of these terms differ. The GDP per Capita in Austria is equivalent to 345 percent of the world's average. Austria ranked first for manufacturing, value added > current US$ per capita amongst Landlocked countries in 2010. Macao SAR and Austria fell below the $50k mark in 2020. >$60,000 $50,000 - $60,000 $40,000 - $50,000 $30,000 - $40,000 $20,000 - $30,000 $10,000 - $20,000 $5,000 - $10,000 $2,500 - $5,000 $1,000 - $2,500 $500 - $1,000 <$500 No data The figures presented here do not take into account differences in the cost of living in different countries, and the results vary greatly from one year to . Liechtenstein's per capita income is about $80,000 per annum. The Gross Domestic Product per capita in Austria was last recorded at 43610.53 US dollars in 2020. None. (1997) Regional per capita income convergence in Austria, Reg. Evolution of GDP per capita (constant 2005 US$) Source: World Bank World Development Indicators (WDI) Note: ITC calculations based on the World Bank WDI The average income is calculated by gross national income and population. Austria is a culturally rich, high-income parliamentary democracy that hosts several key international . Univ. GDP per capita figures vary significantly across the world. The nominal gross national income per capita was the seventh-highest in the world at $58,439 in 2020. India lags behind 132 . Despite being a landlocked country, Austria has the seventh-highest per capita income in Europe. The table below lists countries in the world ranked by GDP at Purchasing Power Parity (PPP) per capita, along with the Nominal GDP per capita. This article is a list of the countries of the world by gross domestic product (at purchasing power parity) per capita, i.e., the purchasing power parity (PPP) value of all final goods and services produced within a country in a given year, divided by the average (or mid-year) population for the same year.. As of 2019, the estimated average GDP per capita (PPP) of all of the countries of the . GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net . Belgium, another European country, makes the top 10 list of countries based on $37,925 in disposable income per capita in 2020. Figure 20: Household enterprises are the fastest growing livelihood sector in low income countries, ordered by GDP per capita Figure 21: More than half of rural youth work outside of agriculture Figure 22: Rural youth working in agriculture are the poorest group of working youth, youth in rural non-farm activities are only slightly poorer than . * It can apply to the average per-person income for a city, region or country, and is used as a means of evaluating the living conditions and quality of life in different areas. Qatar is the country with the highest per capita income, with $137,162 per year per citizen . PPP takes into account the relative cost of living, rather than using only exchange rates, therefore providing a more accurate picture of the real differences in income. As of 2021, Luxembourg would remain at the top spot in gdp per capita ranking in nominal and PPP terms.Luxembourg would remain at the top spot of nominal ranking for the next few years as it is ahead of 2nd ranked occupier Ireland by a huge margin of $28,908. Download Historical Data. Austria Azerbaijan Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia . Year (30) 2019 2018 2017 Answer (1 of 6): * Income per capita is a measure of the amount of money earned per person in a certain area. Estonia ranked first for gross national income per capita amongst Former Soviet republics in 2001. Tables ...12-19 Table 1. Definition: GNI per capita is gross national income divided by midyear population. FRED: Download, graph, and track economic data. (1997) Regional per capita income convergence in Austria, Reg. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. The United States ranked all of this number six for the top ten average income countries in 2021. Pixabay. Per capita income is an average and this average may not represent the standard of living of the people, if the increased national income goes to the few rich instead of giving to the many poor. Luxembourg is the European country with the highest per capita income, being the second in the world, with an amount of $97,639 dollars per yea r. 3. Maldives, St. Lucia, Grenada, and Mauritius were out of the elite $10000 per capita GDP club in 2020. The question of whether there is a tendency for regional convergence has become a central topic for economic research. For example, Austria's Exports rank is higher than 86.1% of the countries in the dataset. Finland — GDP per . The guide will help you learn some of the sectors that contribute to the country's economy, level of employment, export and imports, inflation, and GDP growth. In fact, the richest country today (in terms of nominal GDP per capita), Luxembourg, is over 471x more wealthy than the poorest, Burundi. Per capita income OECD-FAO Agricultural Outlook 2021-2030 The OECD-FAO Agricultural Outlook 2021-2030 is a collaborative effort of the Organisation for Economic Co-operation Development (OECD) and the Food and Agricultural Organization (FAO) of the United Nations, prepared with input from Member governments and international commodity . 33 economic data series with tags: Austria, UPenn - excluding tag: Australia. In Austria, the average household net adjusted disposable income per capita is USD 37 001 a year, higher than the OECD average of USD 30 490. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not . GDP Over the past 47 years, the value for this indicator has fluctuated between 40,531 in 2008 and 17,239 in 1970. Economy Latest Trend Ranking; Composite leading indicator (CLI) Indicator 100.96 Amplitude adjusted Long-term average = 100 Feb-2022 Austria Long-term average = 100 Household disposable income Indicator: 8.55 Gross Per capita, percentage change, previous period Comparisons of national income are also frequently made on the basis of purchasing power parity (PPP . Job: Net Monthly Income constant 2005 US$ (1) Notes : Gross Monthly Average Income (2) Compulsory Deductions (3) Weekly Hours (4) Airline Pilot average salary: PPP $ 3,202: $ 2,565: Employees, minimum per month, 2002. In 2019, median equivalised disposable income averaged PPS 17 422 per inhabitant in the EU. As of that year, 41 states and the District of Columbia levied broad-based taxes on wage income and investment income, while two states—New Hampshire and Tennessee—taxed investment income but not wage income. World Bank national accounts data, and OECD National Accounts data files. This paper examines growth and dispersion of output per capita across nine Austrian regions and 84 districts. The smallest budget per capita exists in Afghanistan. 8. Saudi Arabia ranked first for gross national income per capita amongst Religious countries in 2001. Austria: 53,859 15 Germany . AUSTRIA - 50,546.70 USD. Across the EU Member States, it ranged from PPS 28 943 in Luxembourg and PPS 23 687 in Austria, to PPS 8 371 in Bulgaria and PPS 7 338 in Romania. The European country of Austria had $38,726 in disposable income per capita in 2020. Within Austria the areas with the highest disposable income can be found in urban areas like Vienna or Graz. Austria GNI Per Capita 1962-2022. Bulgaria was the Member State with the lowest GDP per capita, at 45% below the EU average. GDP per capita is often considered an indicator of a country's standard of living; however, this is problematic because GDP per capita is not a measure of personal income. Same region. The latest value for GNI per capita, Atlas method (current US$) in Austria was 49,310 as of 2018. Luxembourg. HOFER H. and WORGOTTER A. Downloadable (with restrictions)! Levels of actual individual consumption were somewhat more homogeneous, but still showed significant differences across Europe. Austria has developed/advanced technology and a high-income economy. Austria The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. Gross Domestic Product, or GDP, is the total monetary value of all the final goods and services produced within a country in a given year. The principality has an industrialized economy, with banking and financial services being the mainstay. Ireland ranked second for manufacturing, value added > current US$ per capita globally in 2009. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor . All of the top 2 countries by gross national income per capita are Landlocked. Forty-three have above $20,000, and 65 have above $10,000 on an exchange rate basis. Of the states that tax wage income, the lowest collections per capita in fiscal year 2017 can be found in North Dakota ($423), Arizona ($489), Mississippi ($614), Louisiana ($632 . In our comparison over 69 countries, the USA comes 8th with an average income of 64,530 USD. Chart 1. 48,051 (US dollars) in 2020. The following map shows combined state and local individual income tax collections per capita for each state in fiscal year 2018. GDP per hour worked, 2008 Chart 5. 8,879,920. So the nation with the highest per capita income in the world is Liechtenstein, a small country bordering Switzerland and Austria. HOFER H. and WORGOTTER A. Macroeconomics is the examination of economics on a large . Upper middle income Uruguay Uzbekistan Vanuatu Venezuela Vietnam West Bank and Gaza World Yemen Zambia Zimbabwe. Correcting for purchasing power, per capita income was Int$57,781 or 10th-highest globally. In 2020, GNI per capita growth for Austria was -6.9 %. Gross domestic product (GDP), total (2017 PPP $ billions) n.a. In fact: 29% of people spend over 40% of their income on housing costs. Countries or territories by GDP (nominal) per capita in 2021. Studies 31, 1-12. $445 billion. Overview of Austria. Tennessee ($37) and New Hampshire ($49) tax investment income but not wage income, making them the states with the lowest individual income tax collections per capita. This article is a list of the countries of the world by gross domestic product (at purchasing power parity) per capita, i.e., the purchasing power parity (PPP) value of all final goods and services produced within a country in a given year, divided by the average (or mid-year) population for the same year.. As of 2019, the estimated average GDP per capita (PPP) of all of the countries of the . Gross national income per capita 2019, Atlas method and PPP Purchasing Atlas power parity methodology (international Ranking Economy (US dollars) Ranking Economy dollars) 1 Bermuda 117,730 1 Macao SAR, China 123,380 l 2 Switzerland 85,500 2 Singapore 92,270 Unemployment rate by gender: other countries (2020-07) 0% 2% 4% 6% 8% 10% Austria Japan United States of America. The land area of Austria stretches across 32,386 square miles and as an attractive tourist destination, Austria has made tourism one of its vibrant sources . Over the past 56 years, the value for this indicator has fluctuated between 50,700 in 2013 and 1,060 in 1962. Here's a look at the 10 countries with the highest GDP per capita in 2021: However, not all citizens in Luxembourg are extremely wealthy. Though Austria GNI per capita growth fluctuated substantially in recent years, it tended to decrease through 1971 - 2020 period ending at -6.9 % in 2020. The statistic shows gross domestic product (GDP) per capita in Austria from 1986 to 2026*. New York City ($85,746) and Mississippi State with the lowest GDP per person ($34,948) is the largest GDP per capita state. The number two country, Norway, comes well behind, at around $72,300 USD. Twelve economies have per capita income above $50,000. Belgium. This paper examines growth and dispersion of output per capita across nine Austrian regions and 84 districts. Studies 31, 1‐12. Per capita income OECD-FAO Agricultural Outlook 2021-2030 The OECD-FAO Agricultural Outlook 2021-2030 is a collaborative effort of the Organisation for Economic Co-operation Development (OECD) and the Food and Agricultural Organization (FAO) of the United Nations, prepared with input from Member governments and international commodity . Highest values. Disposable income per capita (OECD) Mean. The list below represents a national accounts derived indicator based on adjusted gross income, which is defined as "the balance of primary incomes of an institutional unit or sector by adding all current transfers, except social transfers in kind, receivable by that unit or sector and subtracting all current transfers, except social transfers in kind . The country had 8.9 million people and a $497 billion GDP in 2020. In nominal GDP, Luxembourg comes out with the highest income per capita at roughly $88,000 US Dollars (USD). It's the 14th largest economy in terms of nominal GDP per capita. Austria Disposable Income: per Capita data was reported at 0.000 EUR in Dec 2021. Austria 26 705 28 421 28 408 30 086 31 016 32 611 33 310 36 193 37 614 39 692 38 651 39 972 41 988 Household net wealth is the total value of a household's financial and non-financial worth, such as money or shares held in bank accounts the principal residence, other real estate properties, vehicles . Disposable income and distribution of income accounts of households by Länder (federal provinces) (NUTS 2) According to Statistics Austria's latest calculations, the disposable income of households per capita ranged from €22 200 (Vienna) to €24 900 (Lower Austria) in 2020.Data of primary and secondary income accounts are consistent with the non-financial sector accounts (as from September . Austria's population of 8 million and 27th-ranked GDP helps the country have a higher per capita income of US$53,764 . GDP per capita (2017 PPP $) n.a. 83,871 SQ.KM. GNI per capita is gross national income divided by midyear population. GNI per capita, 2008 Chart 3. Austria gdp per capita for 2020 was $48,105, a 4.02% decline from 2019. Average Salary in Austria - Job and Sector Comparison. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy. Population. Average income around the world The worldwide highest income is earned in Monaco. In 2020, Luxembourg and Ireland recorded the highest level of GDP per capita in the EU, at 163% and 109% above the EU average. Per capita income as an indicator of development has the following limitations: 1. Per capita income is a measure of a country's living standard.It is the earning of each person when the national income is evenly divided among the country's population. It is considered to be . When graded on its GDP alone, the Bahamas is the 134th in the world. Austria is one of the richest countries in the world with a high standard of living. Female. The data reached an all-time high of 36,040.000 EUR in 2019 and a record low of 0.000 EUR in 2021. GDP per capita is an interesting indicator for the level of development of certain economies, standard of living (Akeel & Khoj, 2020) and wealth conditions (Huynh, 2020), used in research concerning several topics where economic performance needs to be addressed (Azhgaliyeva et al., 2020). GDP is the total value of all goods and services produced in a country in a year. GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. Over the years, the country's shift toward privatization, i.e. GDP per employed person, 2008 Chart 4. Gross Domestic Product (GDP) per CapitaThe most widely-used measure of global income distribution is GDP per capita. GDP per capita, PPP (current international $) Search glossaries Source: . GDP per capita PPP in Austria averaged 47910.13 USD from 1990 until 2020, reaching an all time high of 55833.32 USD in 2019 . The description is composed by our digital data assistant. A high-income economy is defined by the World Bank as a nation with a gross national income per capita of US$12,696 or more in 2020, calculated using the Atlas method. As the graph below shows, over the past 58 years this indicator reached a maximum value of 43,478 in 2018 and a minimum value of 1,755 in 1960. In 2020, Luxembourg and Ireland recorded the highest level of GDP per capita in the EU, at 163% and 109% above the EU average. The question of whether there is a tendency for regional convergence has become a central topic for economic research. In 1978, the first World Development Report introduced groupings of "low income" and "middle income" countries using a threshold of $250 per capita income as threshold between the groups. Estimated gross national income per capita, male (2017 PPP $) n.a. 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