The GDP per capita is calculated by dividing the total GDP by the number of people living in the country. A higher GDP per capita indicates a superior standard of living.
The real GDP growth rate represents the year-over-year GDP growth, calculated by taking into account the price fluctuations caused by inflation.
The Gini Index represents a statistical measure used to assess income inequality within a country. It quantifies the distribution of income or wealth among the population, with a higher Gini Index indicating a greater level of inequality, while a lower index suggests a more equitable distribution. Source: The World Bank, 2023
The Index of Economic Freedom measures the degree to which a country's economic policies and institutions promote free markets, open trade, and entrepreneurial activity. It assesses factors such as property rights protection, business regulations, fiscal health, and government intervention in the economy. Source: The Heritage Foundation 2023
Also known as government debt or national debt, public debt refers to the sum of all government borrowings owed to lenders within the country.
The inflation rate represents the annual price increase for goods and services, indicating a decrease in the purchasing power of a country’s currency.
The percentage of the country’s population living below the poverty line, as reported by official statistics.
Low unemployment rate indicates better career opportunities and economic growth. Source: Wikipedia, 2023; city's official stats, 2023.
The total amount of public expenditure on education. Public spending on education includes direct expenditure on schools, universities, and other types of educational institutions, as well as educational-related public subsidies.