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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. It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross national income) and dividing it by the total population.

## Per capita income as a measure of prosperity

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. Per capita income is often used to measure a country's standard of living. It is usually expressed in terms of a commonly used international currency such as the Euro or United States dollar, and is useful because it is widely known, easily calculated from readily-available GDP and population estimates, and produces a useful statistic for comparison of wealth between sovereign territories.this helps the country to know their development status.

Critics claim that per capita income has several weaknesses as an accurate measurement of prosperity:

• Comparisons of per capita income over time need to take into account changes in prices. Without using measures of income adjusted for inflation, they will tend to overstate the effects of economic growth.
• International comparisons can be distorted by differences in the costs of living between countries that aren't reflected in exchange rates. Where the objective of the comparison is to look at differences in living standards between countries, using a measure of per capita income adjusted for differences in purchasing power parity more accurately reflects the differences in what people are actually able to buy with their money.
• As it is a mean value, it does not reflect income distribution. If the distribution of income within a country is skewed, a small wealthy class can increase per capita income far above that of the majority of the population. In this respect Median income is a more useful measure of prosperity than per capita income, because it is less influenced by the outliers.
• Economic activity that does not result in monetary income, such as services provided within the family, or for barter, is usually not counted. The importance of these services varies widely among different economies.

## See also

Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Per_capita_income — Please support Wikipedia.
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 Economic Times Per capita income goes up to \$923 Daily Star Online Thu, 16 May 2013 11:51:45 -0700 Higher earnings by expatriates have boosted the income of their relatives in the rural areas, resulting in a rise in the country's per capita income, said Zaid Bakht, a research director at Bangladesh Institute of Development Studies. In the first 10 ... Per capita income grows just 4.3% this year The Express Tribune Tue, 07 May 2013 13:02:27 -0700 To arrive at the per capita income figure, the Pakistan Bureau of Statistics – the government's statistical arm – estimated a 2% growth in the country's population that reached 183 million this year. It then divided the total national income with the ... '\$3000 per capita income in 10 yrs' E Kantipur Wed, 01 May 2013 20:03:10 -0700 A country without the poor with the per capita income of \$3,000 is how the UCPN (Maoist) leadership envisions Nepal's future if they are given the opportunity to run the country for 10 years straight. A tall order, but the Maoist leaders claim it is ... Bhattarai assures to increase per capita income to US\$ 3000 E Kantipur Wed, 01 May 2013 04:49:10 -0700 Addressing a mass assembly organised to mark the May Day here in Itahari on Wednesday, Bhattarai assured that his party would increase the per capita income of the nation to US\$ 3000 if his party was given the mandate to rule the nation for years. Newstrack India Delhi with per capita income at 2.01 lakh is the highest in the country Newstrack India Wed, 08 May 2013 23:48:24 -0700 Delhi Chief Minister Sheila Dikshit has released ?Estimates of State Domestic Product ? 2012-13? of Delhi brought out by the Directorate of Economics & Statistics, Govt. of Delhi. The estimates have been prepared as per methodology approved by the ... Africa's Per Capita Income to Rise Above \$10000 AllAfrica.com Tue, 23 Apr 2013 02:33:01 -0700 This was projected when the ECOWAS officials and their counterparts from other Regional Economic Communities (RECs), as well as the African Union, the African Development Bank (AfDB) and the World Economic Forum (WEF) reviewed the ... It's Time For US Policy Toward Sri Lanka To Be More Symmetrical Forbes Wed, 24 Apr 2013 05:02:34 -0700 Sri Lanka's economy is growing at about a 7.5% annual clip, with low inflation and a per capita income of US\$ 2,923. We are striving towards a per capita income of over \$4,000 by 2016 and are on track to surpass the United Nations Millennium ... Leaving Bangladesh? Not an easy choice for brands KAALtv.com Sun, 12 May 2013 07:48:11 -0700 Or leave and face higher costs, similar or worse worker conditions in other low-wage countries and criticism for abandoning a poor nation where per-capita income is just \$1,940 per year. Most retailers have vowed to stay and promised to work for change.
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