What Is The Richest Country In The World

Top 10 Richest Country Of The World

The World Bank recently published the latest figures for the world's richest countries, and they are hardly surprising. Let us see World's Top 10 Richest Country at a glance:

1. Luxembourg (GDP per capita: $119,719)

2. Norway (GDP per capita: $86,362)

3. Switzerland (GDP per capita: $83,832)

4. Ireland (GDP per capita: $81,477)

5. Iceland (GDP per capita: $78,181)

6. Qatar (GDP per capita: $65,062)

7. The United States of America (GDP per capita: $64,906)

8. Denmark (GDP per capita: $63,434)

9. Singapore (GDP per capita: $62,690)

10. Australia (GDP per capita: $58,824)

The richest country in the world is Qatar in 2019, followed by Singapore and Luxembourg. The list of the ten richest nations, according to the International Monetary Fund (IMF), is rounded out by Hong Kong, Taiwan, and Macau, which are not listed as "rich countries" in this world because they are independent countries. 

Monaco and Liechtenstein are also not on this list, as they are not members of the IMF and therefore not included. 

The main criterion for compiling the world's top 10 richest countries is the highest GDP per capita, as GDP values are calculated and measured in US dollars.

How To Identify The World's Richest Country?

Nevertheless, I would not be shocked if the number of countries on the list of the world's ten richest countries were to fall slightly in the next few years, particularly in terms of GDP.    

Kuwait is the only country in the world's richest and saw a decline in GDP in 2017. You may be shocked to see that the United States is not one of the ten richest countries in the world. 

The US is by far the richest country in the world in terms of nominal GDP but ranks 10th in terms of GDP per capita. Although these data are only available for the first quarter of 2017, and not for the full year, the United States has historically had a high level of income inequality.

Suriname is not one of the world's richest countries, but it is in the middle - or lower - range compared to Latin America and America. 

This is the second richest country in Europe, only surpassed by Luxembourg, which is ranked third in the world. Banking and financial services play an enormous role in the Luxembourg economy, and the economies of the constitutional monarchy have become diversified, with the country's largest bank, the National Bank of Luxembourg (LNB), claiming the third and largest share of the Luxembourg economy. 

The richest country in the world is a small nation that enjoys the economic benefits of vast oil reserves. The Qatar Investment Authority (QIA) also has a role to play in boosting the per capita GDP of the world's richest countries. 

With a GNI and CPP of 94,910 dollars, Qatar is the richest nation in the world and also the second richest in Europe, behind Luxembourg. 

Although this small country, which does not have a great variety of industries, is one of the countries that control all the world's oil, it is still one of the richest nations in the world in terms of wealth.

Britain is the sixth richest country in the world by this measure and until recently was the fifth richest. Depending on the market rate, it is either the third richest or the fourth richest (depending on which PPP you use), although it was recently the fifth richest by one measure. 

The UK was also the second richest country using the two main measures, with GNI and PPP of $94,910, while it was recently fifth richer by another measure, according to the World Economic Forum.

By this yardstick, Qatar was the richest country in the world in 2019, followed by Singapore and Luxembourg. Qatar is now the world's richest country, equivalent to the annual income of an average Qatari, with a GNI of $1.2 billion, according to the World Economic Forum. Qatar was the richest country in 2015 at $2.5 billion, up from $3.1 billion in 2014.

So we have the world's ten richest countries, ranked by GDP per capita, but there are different ways of measuring national wealth. The following table shows the 25 richest countries in the world based on their gross domestic product (GDP) and GNI (gross national income). 

According to this ranking, which is led by CPP ($128,487), there are some of the richest nations such as China, India, Japan, South Korea, and the United States. The world's rich countries are the leaders in GDP, with a total annual income of $2.5 billion, or $1.2 billion.

The method used to rank the world's richest countries is based on purchasing power parity (PPP), a measure of national wealth per capita, rather than GDP per person.

To identify the world's richest countries, Wall Street has examined the GNI of nearly 200 countries. You may be surprised that some of the results include nations that are referred to as "rich countries," but that is what we mean. Now that we know what the world's richest countries are, measured by GDP per capita, it is interesting to know which of them are the world's largest economies.

America is one of the richest countries in the world, with a GDP of $1.11 trillion and a GNI of more than $2.5 trillion. Kenya, a country in East Africa known for its high poverty, is next on Africa's list of richest countries, with a GDP of nearly $100 billion. 

Asian countries have managed to rank among the 25 richest, both with a GDP of more than $1.11 billion.