The Richest Countries in the World

Richest Countries in the World based on Purchasing Power Parity Of GDP Per Capita (Current international dollar)

Source : https://www.imf.org

Top Ten Richest Countries in the World

Top Ten 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. GDP per capita, however, is not precisely a measure of personal income.

International financial services, tourism, petroleum and natural gas exports, electronic goods manufacturing, facilitating international trade (as in the case of Singapore) and a flourishing service sector are the keystones behind the economic success of these nations. With 129,726 international dollars, Qatar is the richest country in the world by GDP per capita. Luxembourg has the second highest GDP (PPP). Here's a complete list of top ten richest countries in the world –

• #1 Qatar
  Qatar tops the list owing to oil industry, which is considered the mainstay of Qatar's economy. It is striking to note that the petroleum industry contributes over 62% towards the government revenue, approximately 92% towards export earnings, and over 60% towards GDP.
  
  
• #2 Luxembourg
  The cornerstone of Luxembourg's powerful economy is its exuberant financial sector, with bank holdings almost 20 times of its GDP size. Its proximity with Belgium, France, and Germany is also a crucial factor for the prosperity and economic growth of the nation.
  
  
• #3Macao SAR
  More than 50% share of GDP and 70% of national revenue comes from gaming, tourism and hospitality industry. A small population & area, a tax haven, and a port with no foreign exchange control regimes place Macau among the world's richest regions.
  
  Interesting Trivia
  Is China A Developed Country
  
  
• #4 Singapore
  Singapore, a self-governing city-state of Southeast Asia, is the third richest country in the world. It has per capita GDP of $87,082 and is one of the world's leading centers for commerce. Moreover, the country has the world's second busiest port.
  
  
• #5 Brunei
  Brunei has extraordinary wealth owing to its extensive natural gas and oil reserves that contribute more than 70% towards the nation's economy. Moreover, the country seeks to encourage more and more investment, becoming self-sufficient in food sector, and observing high standards of administration in both private and public sectors.
  
  
• #6 Kuwait
  The country's crude oil reserves, which are about 102 billion barrels, account for more than 6% of the world reserves. Petroleum accounts for over half of the GDP of the country, 89% of the government income, and 94% of export revenues.
  
  
• #7 Ireland
  Ireland is placed at the eighth spot on the list. The Republic of Ireland withstood the impact of Brexit in 2016. When it comes to employment opportunities, salary structure, living standards, and social inclusion, the country is better than other EU members like France and Germany.
  
  
• #8 Norway
  Having large-scale reserves of natural gas, petroleum, minerals, seafood, and fresh water, Norway is the third biggest exporter of natural gas, and seventh largest oil exporter. The country also ranks among the highest in standards of living and life expectancy.
  
  
• #9 United Arab Emirates
  UAE has an open economy and a high per capita income. The small nation has 10% of the world's total supply of oil reserves and the world's fifth largest natural gas reserves. Oil, which is the mainstay of the UAE economy, accounts for around 30% of the country's GDP.
  
  
• #10 San Marino
  San Marino is the tenth richest country in the world. Comprising a stable economy, San Marino is among the European nations with the lowest rates of unemployment. Services, tourism, finance and industry are the main drivers of the economy.
  
  

PB17.02.2017


Source:- http://databank.worldbank.org/data/download/GDP.pdf
Last Updated on: May 15, 2017