Top 10 Richest Countries In the World
Ranked by GDP Per Capita
The ultimate list of top 10 richest countries in the world is based on GDP per capita. If you don't know about these term, we will explain.
What is GDP?
Gross domestic product (GDP) is an estimate of the total value of finished goods and services produced in a country's borders during a specified period, usually a year.
What is GDP per Capita?
GDP Per Capita, in Current U.S. Dollars: This is nominal GDP divided by the number of people in a country. GDP per capita measures how much a country's economy produces per person, rather than in total.
There are four countries in the world with a GDP per capita surpassing $100K are Qatar, Macao, Luxembourg and Singapore.
Surprisingly, this list doesn't comprises neither Super Power nor region power. Agree or disagree, currently USA is super power in the world still it can't make it to list. China or India can boast a high gross domestic product because of high population but still have hundreds of millions of poor citizens.
The richest countries in the world tend to have not only small population sizes but also complex and diverse economies. These countries are relatively small in size. These countries have export oriented economies. Some of these countries export goods and services from a variety of industries such as pharmaceuticals, biotechnology.
Macao, Luxembourg, Singapore, Switzerland and Ireland are all tax havens and boast strong financial sector. Others like Qatar, Brunei, Kuwait and Arab countries have large reserves of hydrocarbons, oil reserves and other natural resources.
What is GDP?
Gross domestic product (GDP) is an estimate of the total value of finished goods and services produced in a country's borders during a specified period, usually a year.
What is GDP per Capita?
GDP Per Capita, in Current U.S. Dollars: This is nominal GDP divided by the number of people in a country. GDP per capita measures how much a country's economy produces per person, rather than in total.
There are four countries in the world with a GDP per capita surpassing $100K are Qatar, Macao, Luxembourg and Singapore.
Surprisingly, this list doesn't comprises neither Super Power nor region power. Agree or disagree, currently USA is super power in the world still it can't make it to list. China or India can boast a high gross domestic product because of high population but still have hundreds of millions of poor citizens.
The richest countries in the world tend to have not only small population sizes but also complex and diverse economies. These countries are relatively small in size. These countries have export oriented economies. Some of these countries export goods and services from a variety of industries such as pharmaceuticals, biotechnology.
Macao, Luxembourg, Singapore, Switzerland and Ireland are all tax havens and boast strong financial sector. Others like Qatar, Brunei, Kuwait and Arab countries have large reserves of hydrocarbons, oil reserves and other natural resources.
Scroll through to see all Top 10 Richest Countries In the World.
10. Switzerland :-
Switzerland is one of the world's most advanced free market economies.
The service sector like Swiss banking industry and tourism play a important economic role.
Switzerland is a leading exporter of high-end watches and clocks. Swiss companies like include Rolex, Patek Philippe produce most of the world's high-end watches. Switzerland has globally competitive companies in various industrial sectors like food processing like Nestlé, machines and robot manufacturers such as ABB and Stadler Rail. Switzerland also has one of the most competitive
pharmaceutical industries in the world wich include Novartis and Roche. Switzerland is also famous for tourist destinations. Every year millions of people visit country.
The Kuwait has a petroleum-based economy. Kuwait has world's sixth largest oil reserves and natural gas reserves
Kuwait has a large wealth-management industry. Kuwaiti investment companies have invested large percentages of their assets abroad. Tourism is also play huge role in countries GDP Which generates $500 million in revenue. petroleum now accounts for only 43% of total GDP and 70% of export earnings.
The UAE has been diversifying its economy but still remains heavily depends on revenues from petroleum
and natural gas.
UAE relied on oil for most of it's revenue but in recent year UAE diversified economy. Tourism and Construction sectors are growing. Emirates investing its oil revenues into healthcare, education, and infrastructure. UAE have some of the world's most luxurious hotels and Burj Khalifa the tallest tower in the world.
The Norway has a highly developed mixed economy. like middle east it also have vast reserves of oil.
Norway is an open economy but still The Norwegian state have large ownership positions in key industrial sectors like natural resources and strategic industries such as the strategic petroleum sector, hydroelectri
energy production, aluminum production, the largest Norwegian bank.
The Ireland is a highly developed knowledge economy. And it ranks first for high-value foreign direct investment (FDI) flows.
Ireland is among the world’s leading exporters of computer software. The imports include machinery and transport equipment, chemicals, petroleum and petroleum products, food products, and textiles. Tourism plays a very important role in the Irish economy. only a small percentage of those employed in agriculture work as hired labour.
Brunei’s economy is petroleum based economy. Brunei’s economy is almost totally dependent on the exploitation of its vast reserves of petroleum and natural gas.
Brunei depends on imports for all its manufactured goods and most of its food. Several Islamic commercial banks, a number of foreign banks all operate in the country. it is diversified economy in recent years by developing other sectors, such as agriculture, fisheries, tourism, and financial services.
The Singapore is a highly developed free market economy. Singapore is identified as tax heaven.
Because of rising wages, the government seeks to promote higher value-added activities in the manufacturing and services sectors. The state also operates in critical sectors but Singapore is in the process of opening, the financial services, telecommunications, and power generation. Singapore is considered a global financial hub. Pharmaceuticals now account for more than 8% of the country's manufacturing production.
The Luxembourg has high income economy. It is depends on tourism, banking, and industrial sectors.
Banking is the largest sector in the Luxembourg economy. Arcelor-Mittal, the largest steel producer in the world is headquartered in Luxembourg. Luxembourg's small but productive agricultural sector is highly subsidized. Tourism also generates lots of revenue for country.
Macau has open economy. Macau is identified as Asia's gambling haven.
Gambling was legalised in the 19th century, now it is regarded as gambling capital of Asia. Macau is currently rated as one of the world's top tourism destinations by the World Tourism Organization. Macau is an offshore financial centre, a tax haven. construction sectors in Macau employed 45,368 people.
Qatar’s economy is petroleum based economy. Qatar has the world's third largest proven natural gas reserve and is the second-largest exporter of natural gas.
The service sector, including public administration and defense, accounts for roughly half of GDP and engaged
more than half of the workforce. the manufacturing sector comprises large firms of mixed state and foreign private ownership.
The service sector like Swiss banking industry and tourism play a important economic role.
Switzerland is a leading exporter of high-end watches and clocks. Swiss companies like include Rolex, Patek Philippe produce most of the world's high-end watches. Switzerland has globally competitive companies in various industrial sectors like food processing like Nestlé, machines and robot manufacturers such as ABB and Stadler Rail. Switzerland also has one of the most competitive
pharmaceutical industries in the world wich include Novartis and Roche. Switzerland is also famous for tourist destinations. Every year millions of people visit country.
9. Kuwait :-
The Kuwait has a petroleum-based economy. Kuwait has world's sixth largest oil reserves and natural gas reserves
Kuwait has a large wealth-management industry. Kuwaiti investment companies have invested large percentages of their assets abroad. Tourism is also play huge role in countries GDP Which generates $500 million in revenue. petroleum now accounts for only 43% of total GDP and 70% of export earnings.
8. UAE :-
The UAE has been diversifying its economy but still remains heavily depends on revenues from petroleum
and natural gas.
UAE relied on oil for most of it's revenue but in recent year UAE diversified economy. Tourism and Construction sectors are growing. Emirates investing its oil revenues into healthcare, education, and infrastructure. UAE have some of the world's most luxurious hotels and Burj Khalifa the tallest tower in the world.
7. Norway :-
The Norway has a highly developed mixed economy. like middle east it also have vast reserves of oil.
Norway is an open economy but still The Norwegian state have large ownership positions in key industrial sectors like natural resources and strategic industries such as the strategic petroleum sector, hydroelectri
energy production, aluminum production, the largest Norwegian bank.
6. Ireland :-
The Ireland is a highly developed knowledge economy. And it ranks first for high-value foreign direct investment (FDI) flows.
Ireland is among the world’s leading exporters of computer software. The imports include machinery and transport equipment, chemicals, petroleum and petroleum products, food products, and textiles. Tourism plays a very important role in the Irish economy. only a small percentage of those employed in agriculture work as hired labour.
5. Brunei :-
Brunei’s economy is petroleum based economy. Brunei’s economy is almost totally dependent on the exploitation of its vast reserves of petroleum and natural gas.
Brunei depends on imports for all its manufactured goods and most of its food. Several Islamic commercial banks, a number of foreign banks all operate in the country. it is diversified economy in recent years by developing other sectors, such as agriculture, fisheries, tourism, and financial services.
4. Singapore :-
The Singapore is a highly developed free market economy. Singapore is identified as tax heaven.
Because of rising wages, the government seeks to promote higher value-added activities in the manufacturing and services sectors. The state also operates in critical sectors but Singapore is in the process of opening, the financial services, telecommunications, and power generation. Singapore is considered a global financial hub. Pharmaceuticals now account for more than 8% of the country's manufacturing production.
3. Luxembourg :-
The Luxembourg has high income economy. It is depends on tourism, banking, and industrial sectors.
Banking is the largest sector in the Luxembourg economy. Arcelor-Mittal, the largest steel producer in the world is headquartered in Luxembourg. Luxembourg's small but productive agricultural sector is highly subsidized. Tourism also generates lots of revenue for country.
2. Macau :-
Macau has open economy. Macau is identified as Asia's gambling haven.
Gambling was legalised in the 19th century, now it is regarded as gambling capital of Asia. Macau is currently rated as one of the world's top tourism destinations by the World Tourism Organization. Macau is an offshore financial centre, a tax haven. construction sectors in Macau employed 45,368 people.
1. Qatar :-
Qatar’s economy is petroleum based economy. Qatar has the world's third largest proven natural gas reserve and is the second-largest exporter of natural gas.
The service sector, including public administration and defense, accounts for roughly half of GDP and engaged
more than half of the workforce. the manufacturing sector comprises large firms of mixed state and foreign private ownership.
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