Average income around the world
The worldwide highest income is earned in Monaco. The smallest budget per capita exists in Afghanistan. In our comparison over 69 countries, the USA comes 8th with an average income of 64,140 USD.The average income is calculated by gross national income and population. On dividing all annual incomes and profits by the amount of the countrie's population, it will show the average income per capita. Included in this amount are all salaries and wages but also other unearned income on investments or capital gain.
The average gross annual wage per full-time employee in the USA was $69,392 in 2020, or around $5,783 per month ($3,789/year more than in the previous year).
| Rank | Country | Avg. income per year | Avg. income per month |
|---|---|---|---|
| 1 | Monaco | 186,080 $ | 15,507 $ |
| 2 | Bermuda | 112,240 $ | 9,353 $ |
| 3 | Switzerland | 82,620 $ | 6,885 $ |
| 4 | Luxembourg | 81,110 $ | 6,759 $ |
| 5 | Norway | 78,290 $ | 6,524 $ |
| 6 | Macao | 75,690 $ | 6,308 $ |
| 7 | Ireland | 65,750 $ | 5,479 $ |
| 8 | United States | 64,140 $ | 5,345 $ |
| 9 | Denmark | 63,010 $ | 5,251 $ |
| 10 | Singapore | 54,920 $ | 4,577 $ |
| 11 | Sweden | 54,050 $ | 4,504 $ |
| 12 | Australia | 53,680 $ | 4,473 $ |
| 13 | Netherlands | 51,070 $ | 4,256 $ |
| 14 | Finland | 49,800 $ | 4,150 $ |
| 15 | Hong Kong | 48,630 $ | 4,053 $ |
| 16 | Austria | 48,360 $ | 4,030 $ |
| 17 | Germany | 47,520 $ | 3,960 $ |
| 18 | Belgium | 45,800 $ | 3,817 $ |
| 19 | Canada | 43,540 $ | 3,628 $ |
| 20 | Israel | 42,610 $ | 3,551 $ |
| 21 | New Zealand | 41,550 $ | 3,463 $ |
| 22 | Japan | 40,360 $ | 3,363 $ |
| 23 | United Kingdom | 39,830 $ | 3,319 $ |
| 24 | France | 39,500 $ | 3,292 $ |
| 25 | United Arab Emirates | 39,410 $ | 3,284 $ |
| 26 | South Korea | 32,930 $ | 2,744 $ |
| 27 | Italy | 32,360 $ | 2,697 $ |
| 28 | Spain | 27,360 $ | 2,280 $ |
| 29 | Saudi Arabia | 21,930 $ | 1,828 $ |
| 30 | Portugal | 21,810 $ | 1,818 $ |
| 31 | Greece | 17,950 $ | 1,496 $ |
| 32 | Hungary | 15,890 $ | 1,324 $ |
| 33 | Poland | 15,260 $ | 1,272 $ |
| 34 | Romania | 12,600 $ | 1,050 $ |
| 35 | Russia | 10,690 $ | 891 $ |
| 36 | Malaysia | 10,570 $ | 881 $ |
| 37 | China | 10,550 $ | 879 $ |
| 38 | Bulgaria | 9,630 $ | 803 $ |
| 39 | Argentina | 9,070 $ | 756 $ |
| 40 | Turkey | 9,050 $ | 754 $ |
| 41 | Mexico | 8,480 $ | 707 $ |
| 42 | Brazil | 7,850 $ | 654 $ |
| 43 | Serbia | 7,430 $ | 619 $ |
| 44 | Thailand | 7,040 $ | 587 $ |
| 45 | South Africa | 6,010 $ | 501 $ |
| 46 | Colombia | 5,790 $ | 483 $ |
| 47 | Ecuador | 5,530 $ | 461 $ |
| 48 | Albania | 5,210 $ | 434 $ |
| 49 | Indonesia | 3,870 $ | 323 $ |
| 50 | Sri Lanka | 3,720 $ | 310 $ |
| 51 | Ukraine | 3,570 $ | 298 $ |
| 52 | Algeria | 3,570 $ | 298 $ |
| 53 | Philippines | 3,430 $ | 286 $ |
| 54 | Bolivia | 3,180 $ | 265 $ |
| 55 | Morocco | 3,020 $ | 252 $ |
| 56 | Egypt | 3,000 $ | 250 $ |
| 57 | Iran | 2,960 $ | 247 $ |
| 58 | Vietnam | 2,650 $ | 221 $ |
| 59 | Bangladesh | 2,030 $ | 169 $ |
| 60 | Nigeria | 2,000 $ | 167 $ |
| 61 | Timor-Leste | 1,990 $ | 166 $ |
| 62 | India | 1,920 $ | 160 $ |
| 63 | Cameroon | 1,520 $ | 127 $ |
| 64 | Cambodia | 1,500 $ | 125 $ |
| 65 | Burma | 1,350 $ | 113 $ |
| 66 | Pakistan | 1,270 $ | 106 $ |
| 67 | Chad | 630 $ | 53 $ |
| 68 | Sudan | 530 $ | 44 $ |
| 69 | Afghanistan | 500 $ | 42 $ |
Official data is published by several organisations like World Bank, International Monetary Fund or the OECD on a regular basis. Unfortunately there are no standardized procedures to adjust inflation, currency fluctuations or real purchase power. Thats why each institution has its own ranking and varying results.
The above list is therefore calculated according to the Atlas method from the quotient of the gross national income (formerly also called "gross national product") and the population of the country. For both figures, we take the last official numbers, which are usually those of the previous year. For the vast majority of countries, the above table is based on information from the year 2020. In some countries, however, these starting figures are not regularly collected or published and may be older or official estimates of the institutions mentioned above.
Surviving with 42 USD per month?
The lower end of the table clearly shows that countries like the US or Australia are doing pretty well. Almost all countries with a remarkably low income are also developing countries with unstable political and economic conditions. The figures are quite correct in content, but also reflect only what is actually recorded by the official side. Anyone who does not register his trade or works illicit is never found or prosecuted in many countries. Illicit services and sales are not included in government statistics either. And that in turn reduces gross national income. Such numbers are always to be handled with cautiousness.Difference between salaries and income
The salary or wage is paid to a worker or employee for his work in a employment. A self-employed person therefore has neither wages nor salary, but nevertheless an income. Also, workers or employees may have an additional income to their salary. This may include income from capital gains (including securities or interest) or leases.The income of a person is therefore the sum of all of his earnings. At a first glance, that may sound somewhat inaccurate in a country comparison, as companies also generate an income. Regardless of whether this is a small tailoring around the corner or a stock-quoted enterprise, this company is also owned by individuals again. Therefor the income of the owners increases to the same extent as the income of their companies.
Cost of living in a global comparison
Unemployment rates by country
List of the world's most notorious tax havens