Smaller Nations Top U.S. and China in Per Capita GDP Despite Trailing in Overall Size
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The U.S. has the world's largest economy with a GDP of nearly $27 trillion, but smaller countries like Luxembourg lead in per capita GDP, a measure of income per person.
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The U.S. GDP grew at a rapid 4.9% pace in Q3 2022, but growth is expected to slow significantly.
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China has the world's second largest economy, but its growth rate has slowed to around 5%, down from over 9% historically.
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Tiny Luxembourg tops the list of per capita GDP at over $135,000 thanks to its financial services industry and small population.
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Large countries like the U.S. and China have massive overall GDP, but smaller nations tend to rank higher in per capita GDP due to smaller populations.