Monday, July 18, 2005

Rich City; Poor Country

It turns out that Madison, Wisconsin is approximately as wealthy as Senegal. The population of Madison is a little over 200,000 (exact 215,211) and is wealthier than the U.S. as a whole where GDP per capita is a little over $40,000 (exact $40,100). So 200,000 x $40,000= $8,000,000,000, which is a low estimate. Senegal's population is about 10 million and GDP per capita is 374,000 CFA (here: population 9.8 million, GDP per capita in 1999 327,000 cfa, can't find the 374,000 number on the BCEAO site, which is where I remeber seeing it). At the approximate exchange rate of 500 CFA to $1 (currently it's about 540, but that is a momentary weakness because of pegging to the euro), we get GDP per capita of $748. So 10,000,000 x $748=$7,480,000,000. Thus, Madison, Wisconsin with a GDP of $8,000,000,000 is richer than Senegal with a GDP of $7,480,000,000.

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