GDP per Capita of ASEAN [1980-2026] - IMF Projection

GDP per Capita of ASEAN [1980-2026] SUBSCRIBE to VISUAL WORLD: http://shorturl.at/ciHRX Data Link: https://www.imf.org/external/datamapp... Info Source: Wikipedia, Edited by Visual World In economics, gross domestic product, or GDP is the market value of all final goods and services produced within a country. certain territory (usually a country) for a certain period of time (usually a year). GDP per capita, or Gross Income per capita of a country, is calculated by dividing gross domestic product (GDP) by the mid-year population. Data is in current US dollars. However, for a more accurate calculation, many countries apply the calculation of GDP per capita for local residents (understood as adding temporary and permanent foreigners with business workers in the territory and minus citizens). to work abroad for business). GDP per capita shows the value of economic production that can be attributed to each citizen. In other words, it reflects a country's level of wealth, as the market value of GDP per capita can also serve as a measure of prosperity. A country can have consistent economic growth but if the population grows faster than GDP, GDP per capita growth will be negative. This is not a problem for most advanced economies, as their economic growth can still outstrip their population growth. However, countries with low levels of GDP per capita - including many in Africa - can have rapidly growing populations with little GDP growth leading to a gradual decline in living standards. According to the International Monetary Fund's 2020 estimate, the GDP per capita of Southeast Asia is $4,685, equivalent to South Africa, Iraq and Georgia. About Singapore, the country with the highest GDP per capita in ASEAN today The biggest advantage that made Singapore superior to other countries in this period was its geographical location. The country is located on an important trade route connecting Asia and Europe. This is also one of the important reasons why the British Empire decided to colonize this small area in 1819. While many countries tried to distance themselves from the colonial empires, Singapore maintained a fairly close relationship with Britain, even after it gained independence in 1965. This has led Singapore to build an image of an open economy with investors as well as access to resources from the West. This is an extremely important factor as exports play a key role in promoting economic growth. However, at that time, not many countries realized the importance of exports. It is thanks to the importance of exports that Singapore has become one of the four "tigers" in Asia when trade has grown strongly since the 1960s. Many economic experts believe that the strong growth of these four economies is mainly due to exports, industrialization along with the right policies from the leaders. About Brunei Darussalam, the the leading GDP per capita country in Southeast Asia Brunei is a two-part Southeast Asian country with a total area of 5,765 square kilometers (2,226 sq mi) on the island of Borneo. The country has 161 kilometers (100 mi) of coastline bordering the South China Sea, and has a 381 km (237 mi) border with Malaysia. About 97% of the population lives in the wider western part of the country, and only about 10,000 people live in the hilly eastern part. Brunei's total population is approximately 408,000 as of July 5, 2010, of which approximately 150,000 live in the capital, Bandar Seri Begawan. Brunei has a fairly prosperous economy, based mainly on oil and gas exports. It is estimated that oil and gas income accounts for 80% of the total income of the whole economy and about 90% of export income. About 167,000 barrels (26,600 m3) of oil are produced each day, making Brunei the fourth-largest oil producer in Southeast Asia. The country also produces approximately 25.3 million cubic meters (895×108 cubic feet) of liquefied natural gas per day, making Brunei the ninth largest exporter of this resource in the world. Brunei's annual per capita income is much higher than that of Southeast Asian economies and is ranked among the highest among third world economies. To get more of our Statistics and Info-videos, please support us by Subscribing to our Channel, and hit the like button for Youtube Algothithm. Big Thank you! ----- 💡 Visual World is a youtube video channel about Data Statistics and educational related content. We use widely shared Visual Data from the World Bank, Wikipedia… to make intuitive, vivid charts for you. ❤️ We aim for a community that shares information, captures and understands data, as well as financial prosperity and happiness in life. 🔔 SUBSCRIBE – So you won't miss us: http://shorturl.at/ciHRX