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Tuesday, May 27, 2014

Analysis on GDP per Capita

     For my last infographic in Geography, my topic was GDP (Gross domestic product) per Capita.  The countries were same as the most recent infographic I made: Chile, Germany and Singapore.  The major difference that I found was the population.  According to my research, Germany's GDP with the official exchange rate was $3.593 trillion in 2013, followed by Singapore with $295.7 billion, and lastly, Chile, with $281.7 billion.  However, surprisingly, the GDP per Capita had a different order.  First was Singapore, with $62,400. Second was Germany, with $39,500, and third was Chile with $19,100.  I noticed that this was because of the population. Germany has a very big population, with about 82 million. Furthermore, it has the biggest population in Europe, excluding Russia which has most of its territory in Asia. On the other hand, Singapore has a very small population, since it is a small island located between Malaysia and Indonesia.
     Another difference between them was the unemployment rate of the countries.  Although population is a factor that affects GDP per Capita the most, since it is the country's GDP divided by the population, I thought that the unemployment rate will also affect it.  The reason for this is because GDP per Capita, simply, is the average of the citizens' GDP in a certain year.  Therefore, if there are more unemployments, more people will be free and less people will be able to produce the products that are traded in the country.  As a result, the GDP will decrease, however the population will be the same, no matter how high or low the unemployment rate is.  Thus, I hypothesised that Chile, which has the lowest GDP per Capita, will have the highest unemployment rate.  Also, Singapore, with the highest GDP per Capita, will have the lowest.  In fact, my research proved that my hypothesis was right, with the unemployment rate of 6% for Chile, 5.3% for Germany and 1.9% for Singapore.

Sources:
"CIA World Factbook: Chile", https://www.cia.gov/library/publications/the-world-factbook/geos/ci.html, May 10, 2014, Central Intelligence Agency, Apr. 11, 2014
"CIA World Factbook: Germany", https://www.cia.gov/library/publications/the-world-factbook/geos/gm.html, May 10, 2014, Central Intelligence Agency, Apr. 30, 2014
"CIA World Factbook: Singapore", https://www.cia.gov/library/publications/the-world-factbook/geos/sn.html, May 10, 2014, Central Intelligence Agency, May 1, 2014
"Europe Population 2014", http://worldpopulationreview.com/continents/europe-population/, May 27, 2014, World Population Review, March 15, 2014

1 comment:

  1. Hi Hyejune! I found your blog post very interesting. My favorite part of it was the part where you compared the GDP to the GDP per capita because I would never have thought to think of that. Your post had some similarities to mine because in some places I also mentioned population. However, in my blog post I mentioned natural resources as well as population and I would like to know if this effects your data as well.

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