According to the IMF, the world's per capita GDP, adjusted for purchasing power, is estimated at $11,400 (as of 2011). Which of these countries comes closest to the current average world income?
C. South Africa
A. Singapore is not correct.
With an average income of $59,100, Singapore has the world's third-richest population, after Qatar and Luxembourg. Singaporeans' average income is around 20% higher than that of the United States ($48,700) and Hong Kong ($48,300).
Singapore's per capita GDP is also more than $20,000 higher than the levels reached by Germany ($37,400), Taiwan ($37,200) and the United Kingdom ($35,600). Similarly, France and Japan achieve income levels of $34,900 and $34,600, respectively. And Singapore's per capita GDP is almost twice the level reached by South Korea, Spain, Israel and Italy — with each at around $30,000 a year.
B. Mexico is not correct.
Mexico's per capita GDP, at $15,100 a year, is about one-third above the global average. In 60th place worldwide, the country is on par with Latvia, Uruguay and Belarus — and below Russia ($16,800).
The richest country in the world on a per person basis, Qatar, has an annual per capita GDP of $103,300. At the bottom of the global income scale among the more than 180 countries surveyed by the International Monetary Fund is the Democratic Republic of Congo, at just $340 per person a year.
C. South Africa is correct.
South Africa, Africa's biggest economy, has a per capita GDP of $10,900 a year. In 75th place globally, it ranks very close to the global average income, falling just $500 short.
However, South Africa is not Africa's richest economy in terms of per capita income. This distinction belongs to Equatorial Guinea, which has an average income of $19,100. Rapidly growing Botswana is not far behind, at $16,400 — ranking 53rd in the world.
D. Kazakhstan is not correct.
Oil-rich Kazakhstan (at $13,500) is significantly above the average global income level, as is Turkey ($14,100). In contrast, Egypt ranks only 103rd worldwide, at $6,400. Along with neighboring Jordan and Syria, it ranks below the level reached by the People's Republic of China ($8,300).
India, the other emerging Asian giant, has an average income of just $3,600 — less than half China's level.