Antigua and Barbuda: GDP per capita (current US$) 440.1 April 14, 2021
Statistics: GDP per capita (current US$)
|Date||1977 - 2019|
|Previous value||16,672.7 (2018)|
Definition: GDP per capita (current US$)
GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.
Chart - Antigua and Barbuda: GDP per capita (current US$) (1977 - 2019)
Development relevance: GDP per capita (current US$)
Accounting for the contribution of natural resources to economic output is important in building an analytical framework for sustainable development. In some countries earnings from natural resources, especially from fossil fuels and minerals, account for a sizable share of GDP, and much of these earnings come in the form of economic rents - revenues above the cost of extracting the resources. Natural resources give rise to economic rents because they are not produced. For produced goods and services competitive forces expand supply until economic profits are driven to zero, but natural resources in fixed supply often command returns well in excess of their cost of production. Rents from nonrenewable resources - fossil fuels and minerals - as well as rents from overharvesting of forests indicate the liquidation of a country's capital stock. When countries use such rents to support current consumption rather than to invest in new capital to replace what is being used up, they are, in effect, borrowing against their future.
Limitations and Exceptions: GDP per capita (current US$)
Statistical concept and methodology: GDP per capita (current US$)
For more information, see the metadata for current U.S. dollar GDP (NY.GDP.MKTP.CD) and total population (SP.POP.TOTL).