Per capita income
From The Art and Popular Culture Encyclopedia
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Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population.
Per capita income is national income divided by population size. Per capita income is often used to measure a sector's average income and compare the wealth of different populations. Per capita income is also 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, is easily calculable from readily available gross domestic product (GDP) and population estimates, and produces a useful statistic for comparison of wealth between sovereign territories. This helps to ascertain a country's development status. It is one of the three measures for calculating the Human Development Index of a country. Per capita income is also called average income.
See also
- List of countries by average wage
- List of countries by GDP (nominal) per capita—GDP at market or government official exchange rates per inhabitant
- List of countries by GDP (PPP) per capita—GDP calculated at purchasing power parity (PPP) exchange per inhabitant
- List of countries by GNI (nominal) per capita
- List of countries by GNI (PPP) per capita
- List of countries by income equality
- Total personal income
- List of U.S. states by adjusted per capita personal income
- List of states by adjusted per capita personal income
