Economics

Richest Countries in the World



4.4/5 - (18 votes)
Map depicting the top 10 richest countries in the world

 

Gross Domestic Product (GDP) is the total market value of all goods and services produced in a country in a year. These estimates are made every year by international financial organizations such as the International Monetary Fund and the World Bank. While the GDP (PPP) is a good indicator of a country’s wealth, calculations based on nominal GDP often tend to overlook the cost of living in each country. The GDP per capita, however, is not precisely a measure of personal income.

Top 10 Richest Country in the World

Country Name GDP per Capita (2021) About
Qatar $59,330 Qatar is the richest country in the world. Its economy is driven by its vast reserves of natural gas and oil, which have made it a major player in the energy sector.
Macau $48,130 Macao SAR is the second richest country in the world. Its economy is heavily dependent on tourism, particularly its bustling casino industry.
Luxembourg $114,705 The third richest country in the world. Its economy is driven by its thriving financial sector, as well as its steel industry.
Singapore $65,233 Fourth richest country in the world. Its economy is heavily export-oriented, with a focus on electronics, chemicals, and financial services.
Brunei $37,032 Fifth richest country in the world. Its economy is heavily dependent on its oil and gas reserves, which account for a significant portion of its GDP.
Ireland $89,383 Sixth richest country in the world. Its economy is driven by its technology and pharmaceutical industries, as well as its financial sector.
Norway $44,758 Eighth richest country in the world. Its economy is driven by its oil and gas reserves, as well as its tourism and construction industries.
United Arab Emirates (UAE) $43,576 One of the wealthiest countries in the Middle East. Its economy is highly diversified, with a strong focus on oil and gas, tourism, and financial services.
Kuwait $38,720 Ninth richest country in the world. Its economy is heavily dependent on its oil reserves, which account for around 60% of its GDP.
Switzerland $84,987 Tenth richest country in the world. Its economy is driven by its finance, pharmaceuticals, and tourism industries, as well as its reputation as a hub for international organizations.

Related Links:

Share
Published by
adminanswers

Recent Posts

What is the Capital of Madagascar?

The Republic of Madagascar is an island country located in the Indian Ocean, off the…

2 months ago

What Countries use the Euro?

The Euro is the official currency of the European Union. It is, however, not incumbent…

2 months ago

How Many Countries are there in the World?

There are many countries or regions that are partially recognized by the UN, have disputes…

2 months ago

When Did Alaska Became a State?

The Alaska Statehood Act was signed into law by President Dwight D. Eisenhower in 1958,…

2 months ago

Where is Persia?

The name Persia may, however, only be used to refer to Iran in some contexts.…

2 months ago

How Many Islands in Hawaii?

Hawaii is an Island State in the US. It is one of the 50 states…

2 months ago