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50 countries with the fastest-growing GDP per capita

Stacker Logo By Frederick Reese of Stacker | Slide 1 of 51: The gross domestic product for the United States has grown 3.1% in the first quarter of 2019, according to the Bureau of Economic Analysis. While this number does not reflect how the economy has grown for the individual American—personal income, for example, only increased 0.5%—a nation's GDP is a strong indication of how a nation is doing.

The gross domestic product is the total assessment of all commercial and industrial actions that happen in a nation. This includes all the products and services bought and sold there, as well as all the labor that went into those products and services. This is a different assessment from purchasing power parity, which looks at a nation's ability to buy a common basket of goods. While purchasing power parity assesses the strength of a nation's currency, GDP is about its output.

It should be noted that a high GDP does not necessarily mean that a nation's economy is healthy. A nation at war, for example, would have a higher GDP than a nation at peace, due to the high cost of weaponry, ammunition, and combatant pay and transportation. Similarly, a nation in recovery from a disaster will have a higher GDP than one that is in healthier condition. It's also worth noting that a nation that is relatively poor would have a bigger reported GDP shift than a wealthier nation for the same size of economic change.

To better understand this, Stacker has looked at data from the International Monetary Fund to determine the 50 nations with the highest GDP per capita. As a nation with a large population would naturally have a large GDP, we based our analysis on the per capita rate to make nation-to-nation comparison easier.

For this analysis, we considered the projected percent change from 2014 to 2024. Nations that did not have historical data to support this projection, such as Pakistan, Somalia, and Syria were not considered for this list. National subdivisions, such as Hong Kong, which engage in international trade, however, were considered. The data on this list is accurate as of April 2019.

Keep reading to learn how the world's countries compare in GDP and which nation—once a target for American military intervention—is #1.

You may also like: World's happiest countries

These nations don't necessarily have healthy economies

The gross domestic product for the United States has grown 3.1% in the first quarter of 2019, according to the Bureau of Economic Analysis. While this number does not reflect how the economy has grown for the individual American — personal income, for example, only increased 0.5%—a nation's GDP is a strong indication of how a nation is doing.

The gross domestic product is the total assessment of all commercial and industrial actions that happen in a nation. This includes all the products and services bought and sold there, as well as all the labor that went into those products and services. This is a different assessment from purchasing power parity, which looks at a nation's ability to buy a common basket of goods. While purchasing power parity assesses the strength of a nation's currency, GDP is about its output.

It should be noted that a high GDP does not necessarily mean that a nation's economy is healthy. A nation at war, for example, would have a higher GDP than a nation at peace, due to the high cost of weaponry, ammunition and combatant pay and transportation. Similarly, a nation in recovery from a disaster will have a higher GDP than one that is in healthier condition. It's also worth noting that a nation that is relatively poor would have a bigger reported GDP shift than a wealthier nation for the same size of economic change.

To better understand this, Stacker has looked at data from the International Monetary Fund to determine the 50 nations with the highest GDP per capita. As a nation with a large population would naturally have a large GDP, we based our analysis on the per capita rate to make nation-to-nation comparison easier.

For this analysis, we considered the projected percent change from 2014 to 2024. Nations that did not have historical data to support this projection, such as Pakistan, Somalia and Syria were not considered for this list. National subdivisions, such as Hong Kong, which engage in international trade, however, were considered. The data on this list is accurate as of April 2019.

Click ahead to learn how the world's countries compare in GDP and which nation — once a target for American military intervention — is No. 1.

You may also like: World's happiest countries

© Darshak Pandya // Pexels

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