Data InsightsArgentina was one of the richest countries in the world at the beginning of the 20th century

Argentina was one of the richest countries in the world at the beginning of the 20th century

The 10 countries with the highest GDP per capita in 1910.
Horizontal bar chart ranking countries by estimated GDP per capita in 1910, from highest to lowest: United States $9,600; New Zealand $8,500; Australia $8,300; Switzerland $8,000; United Kingdom $7,700; Canada $6,500; Belgium $6,500; Argentina $6,100; Netherlands $6,000; Denmark $5,900. Data source: Bolt and van Zanden – Maddison Project Database 2023. CC BY. Note: Units correspond to international-$ at 2011 prices. Figures are rounded.

When I first visited Buenos Aires some years ago, I was struck by how grand the city's historic architecture was. This is something that strikes many tourists: parts of the city feel closer to Paris than you’d expect from a country whose income level today is more similar to my home country of Colombia than to France.

This chart helps put that observation in perspective. It shows the ten richest countries in the world in 1910, according to GDP per capita estimates from economic historians.

By this measure, Argentina was among the world’s richest countries in 1910, ahead of several Western European countries, including Germany and France. It also stood clearly ahead of its peers in Latin America at the time.

But over the course of the 20th century, Western European economies grew far faster, especially after the Second World War, and Argentina fell behind.

A long-run perspective like this shows how much of a difference economic growth can make within just a few generations.

Explore long-run data on GDP per capita for all countries.

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