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Message: <blockquote data-quote="ibnanv" data-source="post: 18789237" data-attributes="member: 218596"><img src="http://colombopost.net/wp-content/uploads/2015/06/Money.gif" alt="" class="fr-fic fr-dii fr-draggable " style="" />                           Sri Lanka has been named as the only Asian country which is  expected to be among the top five countries by 2050 in terms of nominal  Gross Domestic Product (GDP) per capita, according to a recently  released macro-economic forecast by The Economist Intelligence Unit. Accordingly, Sri Lanka has been placed fifth with an expected GDP per  capita of US$ 65,910 preceded by Sweden (US$ 174,995), Germany (US$  156,940), Italy (US$ 102,323), and Spain (US$ 82,547). GDP per-capita is a measure of the total output of a country that  takes the gross domestic product (GDP) and divides it by the number of  people in the country. The per capita GDP is especially useful when comparing one country to  another because it shows the relative performance of the countries. A  rise in per capita GDP signals growth in the economy and tends to  translate as an increase in productivity. The gross domestic product (GDP) is one of the primary indicators of a  country’s economic performance. It is calculated by either adding  up everyone’s income during the period or by adding the value of all  final goods and services produced in the country during the year. Per capita GDP is sometimes used as an indicator of standard  of living as well, with higher per capita GDP being interpreted as  having a higher standard of living. The report which forecasts the economic performances of various  countries worldwide in the coming few decades, stated that the Asian  economies increased their share of contribution to the global GDP from  26% in the year 2000 to 32% in 2014. “Our extended long-term forecasts suggest that Asia’s rise will  continue up to 2050—not quite at the same pace, but by 2050 it will  account for 53% of global GDP,” the report said. The report also mentioned about the two emerging Asian powerhouses,  India and China, predicting that both countries would be among the top  three economies along with the US by 2030. “Such will be the growth of the two latter countries (China and  India), in particular, that by 2050 they will each be richer than the  next five (Indonesia, Germany, Japan, Brazil, and the UK) put together,”  the report added. The report added that both countries would play crucial roles in  addressing global issues such as climate change, international security  and global economic governance.</blockquote>

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