GDP Per Capita: Top 10 Richest Countries in Middle East & North Africa

This video highlights the top 10 richest countries in Middle East and North Africa (MENA) by real GDP per capita from 1960 to 2018. Real GDP per capita is widely accepted as one of the best economic indicators of national prosperity and standard of living. It is computed by dividing the real GDP of a country by its average population, which is usually the midyear population estimates. The GDP figures in this video represent the GDP at purchaser’s prices, which takes into account the total gross value added by all domestic producers in the economy and all relevant product taxes before deducting any subsidies not included in the product prices. Moreover, these data are expressed in constant 2010 U.S dollars to adjust for changing cost of living as a result of inflation to help observe the real economic growth of countries over time. Last but not least, these #GDP figures are expressed in USD terms using 2010 official exchange rate to facilitate cross-country comparison of economic well-being of countries under study. Note that the United Nations geoscheme devised by United Nations Statistical Division (UNSD) is utilized to group countries/economies/territories according to their macro-geographical location for the purpose of statistical analysis. Therefore, the resulting classification by no means represents the political status or any other affiliation of the countries or entities in question. Objectives: 1) To find out the top 10 richest countries in Middle East and North Africa (MENA) by real GDP per capita from 1960 to 2018. 2) To visually compare the economic performance of MENA countries from the perspective of real GDP per capita over the years. Key Takeaways: 1) Qatar was the richest country in Middle East and North Africa (MENA) by real GDP per capita in 2018. It produced $63,222’s worth of economic output per individual that year, which is about 7.83 and 5.81 times that of MENA (as a region) and the world respectively. 2) During 1960-2018, the mean GDP per capita of the 10 most prosperous MENA countries has exploded from $3,697 to $27,359 (up 640%) while that of the entire MENA has increased by 338% from $3,697 to $16,180. Meanwhile, the world’s has surged from $4,811 to $16,198 (a 237% hike). 3) As of 2018, the real economic output produced by the average resident in the 10 most productive MENA countries ($16,172) was about 2.00 and 1.49 times as much as that of the average person in MENA in general ($8,073) and the world ($10,881) respectively. 4) For the past 10 years, the average person in the top 10 richest MENA countries by real GDP per capita has, on average, become poorer by 3.979% annually. This trend strongly contrasted with the global rate (+1.333%) and the overall MENA rate (+0.926%) over the same period. Some of the most prosperous MENA economies covered: Qatar, United Arab Emirates, Israel, Kuwait, Malta, Bahrain, Saudi Arabia and Oman. ------ Questions Worth Asking: 1) Why do you think these #countries are being featured as the top 10 richest countries in #MENA by real GDP per capita ? 2) Should countries place their highest priorities on enhancing and improving their real GDP per capita when it comes to designing the most appropriate socioeconomic policy and improving the general standard of living? 3) What should policymakers do to ensure sustainable development in both their economy, environment and social structure? ----- We have created the following playlists to organize our videos by theme: Economic Performance Indicators Rankings: GDP Per Capita https://bit.ly/325PXz4 Greatest Battle of the 21st Century https://bit.ly/2Rzd93P Economic Performance Indicators Rankings: GDP https://bit.ly/37dfmZf Social Media Rankings https://bit.ly/38r3nYp Demographic and Social Statistics: Population https://bit.ly/2uhALSM Do check out similar videos on other global economic trends and news such as: Top 10 Countries in Middle East and North Africa (MENA) by Population 1960-2018    • Top 10 Countries in Middle East and N...   ----- Also, we invite you to subscribe to StatStorm so you can stay informed of the moment a new video is released.    / @statstorm   Facebook page:   / statstormofficial   Twitter:   / statstorm   Instagram:   / channel   Pinterest:   / statstorm   Keep in touch! ----------------- Data Source: World Bank https://data.worldbank.org/ United Nations Population Division – World Population Prospect 2019 https://population.un.org/wpp/ Music Source: YouTube Audio Library Music Title: Animal (Sting) & Inescapable & Reckless Shred & Fire Breather https://www.youtube.com/audiolibrary/...