Rich' Bermuda gets top marks from world bank
country by the World Bank in terms of per capita income.
The World Bank's annual atlas of statistics released yesterday showed Switzerland's gross national product per capita in 1992 was still number one, at $36,230.
If Bermuda was included in the "World Bank Atlas'', it would be squeezed in between Luxembourg, which had a per capita GNP income of $35,260, and Japan, which followed with a per capita income of $28,220.
According to local finance figures for 1992, Bermuda had a GNP of 1,728.8 million, which divided by the then population of 60,000, means the per capita income was $28,8113.3, slightly higher than Japan's.
The United States came in eighth with a $23,120 per capita GNP income. While Great Britain was 18th with a per capita GNP income of $17,760.
And Mozambique remained the world's poorest economy, with its per capita GNP income dropping even further in 1992, by 25 percent, to $60.
Eight of the 10 poorest countries were in Africa, and the other two were in Asia.
The per capita GNP income in Russia was $2,680, down from $3,470 in 1991. The atlas, produced annually for 26 years, tracks 207 economies around the world, and also includes information about their populations and environments.
The bank calculates the per capita income averages by dividing a country's population into the value of its total production. That gives production per citizen, including babies and pensioners, which the bank considers roughly equal to income per citizen.
The United Nations criticises this method as ignoring what the income can actually buy in the country where it is earned.
By the UN system of "purchasing power parities,'' the United States comes in first with an average income of $21,449 and Switzerland second, with the equivalent of $20,874. The UN figures were for 1990.
The atlas said people live longest in Japan and Hong Kong. In infant mortality, Ethiopia ranked first, with 168 deaths per 1,000 live births.
In life expectancy, the Scandinavians ranked near the top again, at 78 years for children born today in Sweden or Iceland. Hong Kong and Japan tied for the highest life expectancy, 79 years. In the United States, it was 76 years, and in Russia, 69 years.
The atlas is based on World Bank files and data collected from national statistical offices and international agencies. The 1992 numbers are the latest official statistics available.
The ten nations with the highest average earnings per capita, according to the World Bank.
1. Switzerland -- $36,230 2. Luxembourg -- $35,260 3. Japan -- $28,220 4. Sweden -- $26,780 5. Denmark -- $25,930 6. Norway -- $25,800 7. Iceland -- $23,670 8. United States -- $23,120 9. Germany -- $23,030 10. Finland -- $22,980.