Not By GDP Alone
Luxembourg has the highest per capita GDP in terms of the buying capacity parity (246 percent of average OECD). Norway follows with 164 percent, the United States is the third leader with 144 percent and Ireland has 131 percent. Russia posts no more than 41 of average OECD, showed the joint survey of OECD and statistic services of the countries, including Russia, which are yet to join that club of developed nations.
But all significance of per capita GDP notwithstanding, comparing living standard of different nations is at least of equal vitality. The actual per capita consumption in Russia stands at 38 percent of average OECD, nearly half as much as posted in Portugal and Israel and four times below the United States. And Russia is the richest of the states that are still outside of OECD.
In OECD, they attribute the notable difference between per capita GDP and actual consumption to the fact that, in such states as Portugal, Britain and the United States, the share of investments in GDP is relatively low, while the consumption share is great. The situation is quite the opposite in Russia and, for instance, in Australia, Israel and the Czech Republic. But the OECD statistics were compiled as of 2005. Since then, Russia’s ruble has materially appreciated and the outrunning increase in income of the population has driven up its share in the GDP.
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All the Article in Russian as of Nov. 23, 2007
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