What is GDP?
Gross domestic product (GDP) is the “Total market value of the goods and services produced by a nation’s economy during a specific period of time. GDP is customarily reported on an annual basis(yearly). It is defined to include all final goods and services – that is, those that are produced by the economic resources located in that nation regardless of their ownership and are not resold in any form.
What is Per Capita?
It is commonly and usually used in the field of statistics in place of saying “for each person” or “per person”.
Here’s the list of richest Countries in Africa for 2010-2011:
1.Equatorial Guinea – GDP per capita: $30,200
The Republic of Equatorial Guinea is a country in Central Africa. Most people have never heard of it. This country flew into stardom after 1996 when large oil reserves were found in the nation of only 0,5 million people. While being one of the largest producers of oil in Africa, little has been made to
improve the living conditions of the people. Corruption is widespread and ordinary people are mostly living in poverty. The gap between rich and poor is probably the largest in the world.