National Income Statistics and Standard of Living
The national income statistics show that the USA has the highest standard of living; this can be proved by looking at the gross national income of The United States, which is $12,969.6 million, and the gross national income per capita which is $43,740. This figure is over 125 times the income per capita of Tanzania which is $340. This also suggests that the standard of living in Tanzania is very poor. The UK calculated a gross national income of $2,263.7 million, and a gross per capita figure of $37,600, making it the country with the second highest standard of living, behind the USA and ahead of New Zealand, Czech Republic and Russia. China has a higher gross national income than the UK at $2,263.8 million; however it only has a per capita income of $1,740, which is only higher than Indonesia, Pakistan, Kenya and Tanzania. This suggests that it has a poor standard of living, despite having a large national income. This may be a result of a distorted distribution of income, with the wealthier part of the population having a considerably higher income than the rest of the population. Pakistan has a gross national income of $107.3 million which is over 5 times the figure of Kenya, whereas it only has a per capita figure of $690, which is a mere $160 more than Kenya. This implies Pakistan has a relatively poor standard of living, even though the national income is more than New Zealand’s, which has a much larger standard of living. The same applies for Indonesia, which has a gross national income of $282.2 million, and had a gross national income per capita of $1,280. The national income is also higher than New Zealand’s figure as well as the figure for the Czech Republic. However, New Zealand’s per capita income is 20 times higher than Indonesia’s, meaning the standard of living is higher there, than it is in Indonesia. Colombia has a GNI of $104.5 million, and a Per capita income of $2,290. This means the...
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