Economy Top 25 richest countries by GDP/capita, GNI/capita and median wealth

[Maciamo]

Interesting chart.

Notice how some countries have quite different GDP per capita vs GNI per capita.

• GDP measures the total value of all goods and services produced within a country's borders over a specific period, regardless of who produces it (domestic or foreign entities).
• GNI measures the total income earned by a country's residents and businesses, regardless of whether the income is earned domestically or abroad. It includes GDP plus net income from foreign sources such as overseas investments and wages earned by residents working abroad minus income earned by foreigners within the country.

Most countries have higher GDP per capita. The biggest gap are for Luxembourg (+$49,000 compared to GNI per capita) and Ireland (+$30,000), who both attract lots of foreign investments thanks to low corporate taxes. This is also true to some extent of Singapore (+$18,000), the Netherlands (+$11,000), and Switzerland (+$9,000). In such countries foreign companies artificially inflate the GDP.

Only two countries have have substantial higher GNI per capita: Norway and Qatar, who earn high revenues from their investments abroad.

Sweden, Canada, New Zealand and the UAE have almost identical GDP per capita and GNI per capita.

Median wealth per capita is not very much related to either GDP per capita or GNI per capita. For example Italy and Spain have a higher median wealth than the United States, and New Zealand's median wealth is even higher than Switzerland.