Italy's GDP per capita exceeds that of Britain. For the first time since 2001, the Telegraph reported yesterday, the average level of economic well-being in Italy has surpassed that of the United Kingdom, marking a significant moment for both countries, according to Tim Wallace, deputy director of economics. The World Bank reports that Italy's GDP per capita increased to $60,847 (£44,835) last year, surpassing Britain's $60,620. One explanation is that Britain's population is increasing, which means that GDP is spread to a greater number of people. To the contrary, Italy's population is diminishing as a result of demographic decline. As a result, while the Italian economy is increasing at nearly the same rate as the UK's, GDP per capita is rising faster since production is distributed among fewer people.