Get the Real Gross Domestic Product per Capita for a variety of countries over time from the Global Macro Database (GMDB). This is the inflation-adjusted Gross Domestic Product (GDP) divided by the total population of a country, which gives an indication of the average economic output (and by extension, living standard) per person.

Formula:

Real GDP per Capita = Real Gross Domestic Product / Population

This uses the Global Macro Database’s own precomputed per-capita series rather than dividing GDP by population manually, which avoids subtle mismatches that can arise from differences in population coverage or timing between the two underlying series.

Data comes from the Global Macro Database (GMDB), further information about the variable can be found within https://www.globalmacrodata.com/documentation.html

Also known as: real GDP per capita, real income per capita, standard of living.

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Calculate the Real GDP per Capita in Python

The Real GDP per Capita is available in the Economics module of the open-source Finance Toolkit. Install it with:

pip install financetoolkit -U

Then call get_real_gross_domestic_product_per_capita as shown below.

from financetoolkit import Economics

economics = Economics(start_date='2015-01-01')

economics.get_real_gross_domestic_product_per_capita(countries=['Netherlands', 'Germany', 'China'])

Which returns:

  Germany China Netherlands
2022 43259.3 72327.1 53219.9
2023 42779.5 76236.4 52600.7
2024 42621.7 79949 52603.8
2025 42882.3 83590.8 53142.2
2026 43422.6 87097.8 53735.2

Parameters

get_real_gross_domestic_product_per_capita accepts the following parameters:

  • countries (list[str] | str | None, optional): A list of countries or a single country to include in the results. Defaults to None.
  • rolling (int, optional): The rolling window size to use for smoothing the data (simple moving average). Defaults to None.
  • trailing (int, optional): The trailing window size to use for summing the data over trailing periods (e.g. a trailing-4-quarter sum). Defaults to None.
  • growth (bool, optional): Whether to return the growth data or the actual data. Defaults to False.
  • lag (int, optional): The number of periods to lag the growth data. Defaults to 1.
  • standardize (bool, optional): Whether to standardize (Z-Score) the result. When combined with growth=True, standardizes the growth values instead of the raw values. Defaults to False.
  • rounding (int | None, optional): The number of decimals to round the results to. Defaults to None.
Government Revenue Revenue to GDP Government Tax Revenue Tax Revenue to GDP Government Expenditure Expenditure to GDP Government Deficit Deficit to GDP Trust in Government Real GDP (USD) Output Gap Trade Balance

The Economics module page introduces the module, and the sidebar lists all of its functions.

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