Economy The US, Japan, Singapore and Greece having negative Net GDP per capita

[Maciamo]

While I already knew well the limitations of the GDP per capita for judging how rich a country is, the video made me think of calculating the Net GDP per capita of 'supposedly rich countries'. To do this, just subtract the public debt per capita from the GDP per capita. By doing this we see that some countries are living well over the means, having borrowed more money than they earn and end up in negative. That is the case of Canada, the United States, Japan and Singapore.

In Europe only Italy and Greece have a negative net GDP per capita, but that can be explained by their huge underground economy (aka shadow economy), which makes up about 22% of GDP in Italy and 25% in Greece. If all the undeclared work in Italy and Greece were to be accounted for in the GDP, the net GDP per capita would be closer to zero.

Rank	Country/Economy	GDP per Capita (2025)	Public Debt per Capita	Net GDP per Capita
1	Luxembourg	$141,080	$32,765	$108,315
2	Switzerland	$111,716	$33,269	$78,447
3	Ireland	$107,243	$44,664	$62,579
4	Hong Kong SAR	$55,608	$3,266	$52,342
5	Norway	$90,320	$38,477	$51,843
6	Denmark	$71,967	$22,928	$49,039
7	Qatar	$72,760	$30,140	$42,620
8	Netherlands	$70,606	$28,974	$41,632
9	Sweden	$59,508	$18,050	$41,458
10	Iceland	$90,111	$48,873	$41,238
11	United Arab Emirates	$51,294	$15,615	$35,679
12	Australia	$67,979	$32,929	$35,050
13	New Zealand	$48,234	$21,707	$26,527
14	Taiwan	$34,924	$9,432	$25,492
15	Saudi Arabia	$33,287	$8,417	$24,870
16	Kuwait	$31,682	$7,685	$23,997
17	Germany	$57,914	$33,994	$23,920
18	Israel	$54,370	$32,347	$22,023
19	Lithuania	$30,514	$10,328	$20,186
20	Czech Republic	$33,038	$13,342	$19,696
21	South Korea	$37,675	$18,314	$19,361
22	Austria	$61,080	$43,829	$17,251
23	Finland	$57,183	$40,633	$16,550
24	Estonia	$20,385	$4,383	$16,002
25	Latvia	$25,681	$10,158	$15,523
26	Slovakia	$28,177	$13,723	$14,454
27	Slovenia	$36,495	$22,273	$14,222
28	Cyprus	$40,552	$26,690	$13,862
29	Poland	$25,041	$12,520	$12,521
30	Bulgaria	$15,886	$3,543	$12,343
31	Hungary	$25,703	$16,282	$9,421
32	Croatia	$23,550	$14,365	$9,185
33	Chile	$14,540	$5,961	$8,579
34	Romania	$18,404	$10,361	$8,043
35	Costa Rica	$14,806	$8,884	$5,922
36	China	$12,687	$7,612	$5,075
37	Mexico	$10,099	$5,171	$4,928
38	Portugal	$30,947	$26,744	$4,203
39	United Kingdom	$54,280	$50,402	$3,878
40	Argentina	$13,593	$10,603	$2,990
41	Spain	$37,362	$35,003	$2,359
42	Belgium	$58,248	$56,212	$2,036
43	South Africa	$5,816	$4,502	$1,314
44	Brazil	$9,462	$8,260	$1,202
45	France	$49,527	$49,037	$490
46	Turkey	$15,463	$16,916	-$1,454
47	Canada	$55,890	$57,436	-$1,546
48	Bahrain	$29,886	$36,035	-$6,149
49	United States	$89,678	$98,204	-$8,526
50	Greece	$21,625	$32,221	-$10,596
51	Italy	$41,714	$52,501	-$10,787
52	Japan	$35,611	$87,547	-$51,936
53	Singapore	$93,956	$150,105	-$56,149

 

[Maciamo]

Here is the ranked table of net GDP per capita adjusted for the shadow economy.

Rank	Country/Economy	Original GDP/Capita	Shadow Economy	Adjusted GDP/Capita	Public Debt/Capita	Net GDP/Capita (Adjusted)
1	Luxembourg	$141,080	0.09	$153,777	$32,765	$121,012
2	Switzerland	$111,716	0.076	$120,206	$33,269	$86,937
3	Ireland	$107,243	0.12	$120,112	$44,664	$75,448
4	Norway	$90,320	0.15	$103,868	$38,477	$65,391
5	Hong Kong SAR	$55,608	0.14	$63,393	$3,266	$60,127
6	Denmark	$71,967	0.117	$80,387	$22,928	$57,459
7	Iceland	$90,111	0.13	$101,825	$48,873	$52,952
8	Sweden	$59,508	0.13	$67,244	$18,050	$49,194
9	Netherlands	$70,606	0.10	$77,667	$28,974	$48,693
10	Qatar	$72,760	0.05	$76,398	$30,140	$46,258
11	Australia	$67,979	0.10	$74,777	$32,929	$41,848
12	United Arab Emirates	$51,294	0.021	$52,371	$15,615	$36,756
13	Germany	$57,914	0.135	$65,732	$33,994	$31,738
14	New Zealand	$48,234	0.10	$53,057	$21,707	$31,350
15	Israel	$54,370	0.17	$63,613	$32,347	$31,266
16	Saudi Arabia	$33,287	0.15	$38,280	$8,417	$29,863
17	Taiwan	$34,924	0.08	$37,718	$9,432	$28,286
18	Lithuania	$30,514	0.25	$38,143	$10,328	$27,815
19	Kuwait	$31,682	0.10	$34,850	$7,685	$27,165
20	Czech Republic	$33,038	0.15	$37,994	$13,342	$24,652
21	Cyprus	$40,552	0.25	$50,690	$26,690	$24,000
22	Finland	$57,183	0.13	$64,617	$40,633	$23,984
23	South Korea	$37,675	0.12	$42,196	$18,314	$23,882
24	Austria	$61,080	0.10	$67,188	$43,829	$23,359
25	Latvia	$25,681	0.26	$32,358	$10,158	$22,200
26	Estonia	$20,385	0.28	$26,093	$4,383	$21,710
27	Slovakia	$28,177	0.15	$32,404	$13,723	$18,681
28	Slovenia	$36,495	0.12	$40,874	$22,273	$18,601
29	Poland	$25,041	0.23	$30,800	$12,520	$18,280
30	Bulgaria	$15,886	0.30	$20,652	$3,543	$17,109
31	Croatia	$23,550	0.29	$30,380	$14,365	$16,015
32	Hungary	$25,703	0.22	$31,358	$16,282	$15,076
33	Romania	$18,404	0.28	$23,557	$10,361	$13,196
34	Belgium	$58,248	0.17	$68,150	$56,212	$11,938
35	Chile	$14,540	0.19	$17,303	$5,961	$11,342
36	Portugal	$30,947	0.19	$36,827	$26,744	$10,083
37	United Kingdom	$54,280	0.105	$59,979	$50,402	$9,577
38	Costa Rica	$14,806	0.272	$18,833	$8,884	$9,950
39	Spain	$37,362	0.19	$44,461	$35,003	$9,458
40	Mexico	$10,099	0.27	$12,826	$5,171	$7,655
41	Argentina	$13,593	0.32	$17,943	$10,603	$7,340
42	China	$12,687	0.17	$14,844	$7,612	$7,232
43	France	$49,527	0.11	$54,975	$49,037	$5,938
44	Brazil	$9,462	0.39	$13,152	$8,260	$4,892
45	Canada	$55,890	0.10	$61,479	$57,436	$4,043
46	Turkey	$15,463	0.28	$19,793	$16,916	$2,877
47	South Africa	$5,816	0.11	$6,456	$4,502	$1,954
48	Italy	$41,714	0.22	$50,891	$52,501	$-1,610
49	United States	$89,678	0.05	$94,162	$98,204	$-4,042
50	Bahrain	$29,886	0.05	$31,380	$36,035	$-4,655
51	Greece	$21,625	0.25	$27,031	$32,221	$-5,190
52	Singapore	$93,956	0.14	$107,110	$150,105	$-42,995
53	Japan	$35,611	0.08	$38,460	$87,547	$-49,087