Did some exploration and machine learning on different countries' economic development factors and their correlation to GDP per capita in 2020!
Definition of Each Column:
Trade in Services: Trade in services records the value of services exchanged between residents and non-residents of an economy, including services provided through foreign affiliates established abroad. This indicator is measured in million USD and percentage of GDP for exports, imports and net trade.
Foreign Direct Investment: Foreign direct investment (FDI) is a category of cross-border investment in which an investor resident in one economy establishes a lasting interest in and a significant degree of influence over an enterprise resident in another economy
Current Account Balance: The current account balance of payments is a record of a country's international transactions with the rest of the world. The current account includes all the transactions (other than those in financial items) that involve economic values and occur between resident and non-resident entities.
Foreign Direct Investment: Net Inflows: FDI net inflows are the value of inward direct investment made by non-resident investors in the reporting economy
Personal remittances: comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households
Market capitalization: (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values.
Stocks traded, total value: The value of shares traded is the total number of shares traded, both domestic and foreign, multiplied by their respective matching prices. Figures are single counted (only one side of the transaction is considered). Companies admitted to listing and admitted to trading are included in the data. Data are end of year values
Energy intensity level of primary energy: the ratio between energy supply and gross domestic product measured at purchasing power parity. Energy intensity is an indication of how much energy is used to produce one unit of economic output. Lower ratio indicates that less energy is used to produce one unit of output
GDP per unit of energy use: the PPP GDP per kilogram of oil equivalent of energy use. PPP GDP is gross domestic product converted to 2017 constant international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States.
Energy use per PPP GDP: the kilogram of oil equivalent of energy use per constant PPP GDP. Energy use refers to use of primary energy before transformation to other end-use fuels, which is equal to indigenous production plus imports and stock changes, minus exports and fuels supplied to ships and aircraft engaged in international transport. PPP GDP is gross domestic product converted to 2017 constant international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States
Carbon dioxide emissions: stemming from the burning of fossil fuels and the manufacture of cement. They include carbon dioxide produced during consumption of solid, liquid, and gas fuels and gas flaring.
Water productivity: GDP in constant prices divided by annual total water withdrawal.
Domestic credit to private sector: financial resources provided to the private sector by financial corporations, such as through loans, purchases of non-equity securities, and trade credits and other accounts receivable, that establish a claim for repayment.
Broad money: a measure of the amount of money, or money supply, in a national economy including both highly liquid "narrow money" and less liquid forms.