GDP Per Capita, by G7 Country (2019-2029F)

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6 seconds ago

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June 24, 2024 Graphics/Design:

See this visualization first on the Voronoi app.

GDP Per Capita Projections for the G7

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

GDP per capita takes the total economic output of a country in a year, and divides it by the total population, providing a measure of a country’s economic performance and living standards on a per person basis.

In this graphic, we’ve visualized GDP per capita for G7 nations, from 2019 to 2029 (forecasted). All figures come from the International Monetary Fund (IMF), and are as of April 2024.

Data and Key Takeaways

The data we used to create this graphic can also be found in the table below.

GDP per capita
(current USD)Canada
🇨🇦France
🇫🇷Germany
🇩🇪Italy
🇮🇹Japan
🇯🇵UK
🇬🇧U.S.
🇺🇸 2019$46,431$41,925$46,810$33,628$40,548$42,713$65,505 2020$43,573$40,529$46,712$31,789$40,172$40,246$64,367 2021$52,521$45,161$51,461$36,402$40,114$46,704$70,996 2022$55,613$42,306$48,756$35,043$34,005$45,730$77,192 2023$53,548$46,001$52,727$38,326$33,806$49,099$81,632 2024F$54,866$47,359$54,291$39,580$33,138$51,075$85,373 2025F$57,021$48,631$56,439$40,701$34,922$53,627$87,978 2026F$58,907$50,143$58,472$41,612$36,643$56,759$90,903 2027F$60,729$51,571$60,264$42,604$38,065$59,870$94,012 2028F$62,636$53,040$61,965$43,835$39,820$63,279$97,231 2029F$64,653$54,388$63,551$45,096$40,949$66,911$100,580

From this data, we can see that the U.S. has managed a very strong post-COVID recovery relative to its G7 peers. While Canada also saw a strong resurgence in 2021 and 2022, its GDP per capita actually fell in 2023.

This is attributed to the country’s high levels of immigration in 2023, which helped boost population by 3.2% (1,271,000 people). Because this increase outpaced economic growth, Canada’s per capita output decreased.

Looking towards the future, the IMF believes that the U.S. will reach a GDP per capita of $101,000 by 2029, which is significantly higher than any other G7 nation. It also believes that the UK will perform well in the second half of this decade, climbing from fourth to second place among this peer group of countries.

Learn More About GDP from Visual Capitalist

If you enjoyed this post, be sure to check out Ranked: The Top 6 Economies by Share of Global GDP (1980-2024).

Top 10 Countries Most in Debt to the IMF

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55 mins ago

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May 14, 2024 Graphics/Design:

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Top 10 Countries Most in Debt to the IMF

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Established in 1944, the International Monetary Fund (IMF) supports countries’ economic growth by providing financial aid and guidance on policies to enhance stability, productivity, and job opportunities.

Countries seek loans from the IMF to address economic crises, stabilize their currencies, implement structural reforms, and alleviate balance of payments difficulties.

In this graphic, we visualize the 10 countries most indebted to the fund.

Methodology

We compiled this ranking using the International Monetary Fund’s data on Total IMF Credit Outstanding. We selected the latest debt data for each country, accurate as of April 29, 2024.

Argentina Tops the Rank

Argentina’s debt to the IMF is equivalent to 5.3% of the country’s GDP. In total, the country owns more than $32 billion.

CountryIMF Credit Outstanding ($B)GDP ($B, 2024)IMF Debt as % of GDP 🇦🇷 Argentina32604.35.3 🇪🇬 Egypt11347.63.1 🇺🇦 Ukraine9188.94.7 🇵🇰 Pakistan7374.71.8 🇪🇨 Ecuador6121.64.9 🇨🇴 Colombia3386.10.8 🇦🇴 Angola392.13.2 🇰🇪 Kenya3104.02.8 🇬🇭 Ghana275.22.6 🇨🇮 Ivory Coast286.92.3

A G20 member and major grain exporter, the country’s history of debt trouble dates back to the late 1890s when it defaulted after contracting debts to modernize the capital, Buenos Aires. It has already been bailed out over 20 times in the last six decades by the IMF.

Five of the 10 most indebted countries are in Africa, while three are in South America.

The only European country on our list, Ukraine has relied on international support amidst the conflict with Russia. It is estimated that Russia’s full-scale invasion of the country caused the loss of a third of the country’s economy. The country owes $9 billion to the IMF.

In total, almost 100 countries owe money to the IMF, and the grand total of all of these debts is $111 billion. The above countries (top 10) account for about 69% of these debts.

Visualized: Interest Rate Forecasts for Advanced Economies

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50 mins ago

on

May 1, 2024 Article/Editing: Graphics/Design:

Interest Rate Projections for Advanced Economies

While U.S. inflation cooled in the second half of last year, price pressures returned in 2024, leading investors to rethink how soon central bankers will cut rates.

Despite the recent increase, the interest rate forecast for many economies looks optimistic, thanks to subdued energy price shocks and abating supply chain disruptions. Still, short-term risks remain, including persistently high services inflation clouding the outlook.

This graphic shows the interest rate forecast for advanced economies, based on the International Monetary Fund’s (IMF) 2024 World Economic Outlook.

Get the Key Insights of the IMF’s World Economic Outlook

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A Closer Look at the IMF Interest Rate Forecast

Below, we show the projected path of interest rates based on the IMF’s latest data:

Federal ReserveBank of EnglandECBBank of Japan Q1 20245.4%4.0%-0.1%5.3% Q2 20245.3%3.9%0.0%5.3% Q3 20245.0%3.7%0.0%5.0% Q4 20244.7%3.4%0.1%4.8% Q1 20254.5%3.2%0.1%4.5% Q2 20254.3%3.0%0.1%4.3% Q3 20254.1%2.7%0.1%4.0% Q4 20253.9%2.7%0.2%3.8% Q1 20263.7%2.6%0.3%3.5% Q2 20263.5%2.6%0.4%3.5% Q3 20263.3%2.6%0.4%3.5% Q4 20263.1%2.6%0.6%3.5% Q1 20272.9%2.6%0.6%3.5% Q2 20272.9%2.6%0.6%3.5% Q3 20272.9%2.6%0.6%3.5% Q4 20272.9%2.6%0.6%3.5% Q1 20282.9%2.6%0.6%3.5% Q2 20282.9%2.6%0.6%3.5% Q3 20282.9%2.6%0.6%3.5% Q4 20282.9%2.6%0.6%3.5%

As we can see, the U.S. is forecast to see its first rate cut in the second quarter of 2024.

Broadly speaking, rates will be cut very gradually, with two additional rate cuts anticipated for this year. By 2027, interest rates are projected to fall to 2.9% after a series of moderate rate cuts as inflation dissipates.

Like the U.S., the European Central Bank is forecast to cut rates in the second quarter of 2024, with rates set to fall to 2.6% by 2026. While inflation has cooled at a faster rate across Europe compared to the U.S., GDP growth is also projected to be more muted. This year, the IMF projects that