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GDP per capita growth rate, %
Most recent values
| Reporting Year | 2024 | 2023 |
| Global Developing World | 3.73% | 3.83% |
| Emerging and Developing Asia | 5.02% | 5.33% |
| Emerging and Developing Europe | 3.55% | 3.6% |
| Latin America and the Caribbean | 1.67% | 1.57% |
| Middle East and Central Asia | 0.08% | -0.16% |
| Sub-Saharan Africa | 1.77% | 1.22% |
| Global Advanced Economies | 1.02% | 1.23% |
Definition, Source, and Methodology
Annual percentage growth rate of Gross Domestic Product (GDP) per capita based on constant local currency. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices 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.
GDP per capita growth rates across various countries within a regional grouping are weighted by GDP (constant 2015 US$), ensuring larger economies contribute proportionally more to the regional average growth rate. Data are sourced from the World Bank.
Source:
- World Bank, GDP per Capita Growth (annual %), https://data.worldbank.org/indicator/NY.GDP.PCAP.KD.ZG.
- World Bank, GDP (constant 2015 US$), World Bank National Accounts Data and OECD National Accounts Data Files, https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.
Discussion
GDP per capita growth in emerging markets averaged 3.73% in 2024. Emerging and Developing Asia continued to lead at 5.02%, while Emerging and Developing Europe recorded moderate growth of 3.55%. Latin America and the Caribbean improved slightly to 1.67%, and Sub-Saharan Africa edged up to 1.77%, though both regions remained below the emerging market average. The Middle East and Central Asia recorded marginal positive growth (0.08%), following a contraction in the previous year. Countries are grouped according to the International Monetary Fund country groupings.
Why it matters for the OPEC Fund
Economic growth per person is a core determinant of sustainable improvements in living standards. The OPEC Fund’s operations across all priority areas - as outlined in the Review and Update of OPEC Fund Strategic Framework 2030 (Infrastructure Development, Human Capital, Institutional Capacity, Private Sector and Trade, Food Security and Climate Action) - contribute to economic growth by enabling productivity, boosting investment and economic competitiveness in partner countries, therefore supporting stronger long-term growth trajectories. This indicator aligns with SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure) and SDG 10 (Reduced Inequalities).