PARIS: In 2005 the fiscal haven of Luxembourg, oil-rich Norway, the USA and Celtic tiger Ireland led the world in terms of gross domestic product per person, reports Paris-based OEDC (the Organization for Economic Development and Cooperation).
For the purposes of the report GDP includes household spending, business investment, government spending and net exports, using the metric of PPP (Purchasing Power Parity).
PPP data compares economic and consumer activity within thirty OECD member-nations, plus 25 other countries including Russia and the Balkan states.
The report reviews the three years 2002-2005. Among the interesting tidbits revealed are ...
- Mexico's GDP per person rose from 37% of the OECD average to 39% in 2005.
- Italy's GDP per head fell from a level 5% above the OECD average to 4% below.
- Switzerland's slipped from 30% to 20% above the OECD average over the same period.
- The rising value of Norway's oil exports helped its GDP per head jump to 65% above the OECD average in 2005 from 45% in 2002.
But PPP is not the sole metric used.
Another is household spending per capita, the use of which alters the top four rankings. Luxembourg continues to top the table, while the USA climbs to second place, followed by Iceland, then Norway.
To download the full OEDC report click here
Data sourced from multiple origins; additional content by WARC staff