What does GDP per capita mean?

GDP per capita, or Gross Domestic Product per capita, is a measure of the average economic output per person in a country. It is calculated by dividing the total GDP of a country by its population. GDP per capita is often used as an indicator of a country's standard of living and economic performance. It provides insight into the average income and wealth of the population, as well as the overall economic development and growth of a country. GDP per capita can be used to compare the economic well-being of different countries, as well as to track changes in living standards over time within a single country. It is also a useful tool for policymakers and investors to assess the economic health and potential of a country, and to make decisions about resource allocation, investment opportunities, and economic policies. While GDP per capita is a valuable measure, it is important to note that it does not capture the distribution of income within a country, and therefore may not fully reflect the standard of living for all individuals. Additionally, it does not account for non-market economic activities, such as household work or volunteer activities, which can also contribute to overall well-being.