When we talk about the richest country in the world, we look up to its economic status. However, there are several factors affecting the wealth of a country. From the industries they excel at to their population, everything matters. The lifestyle of individuals living in a particular country also changes according to the country’s status.
In this article, we will talk about the top 50 richest country in the world, their GDP per capita, and why they are in the top 50 list. Continue reading to know about it.
1. Luxembourg
GDP/ Capita in PPP- $140,694
With a population of 647,800, Luxembourg is the richest country in the world. The wealth and standard of living in this country are luxurious and high. It is well-known for its robust financial sector, focused on several financial institutions and international banks.
Other than that, industries like manufacturers, technology, and transportation also work in Luxembourg. The GDP per capita and PPP of the country are $140,694 and the GNI per capita is $88,190.
2. Singapore
GDP/ Capita in PPP- $131,580
Despite the lack of natural resources, Singapore is the second richest country in the world. It has a GDP per capita (PPP) of $131,580 and the GNI per capita is $64,010. The strategic financial services of this country are what make it one of the wealthiest. The major source of income is also the education and tourism factor of Singapore.
With 5,230,000 inhabitants, Singapore has many major industries like transportation, manufacturing, engineering, electronics, chemical production, biotechnology, and logistics. It helps in international, as well as domestic investments.
3. Ireland
GDP/ Capita in PPP- $124,596
Ireland is in the third position of the richest country in the world with a population of 5,054,000. It is rich in both economic and natural resources which work as an advantage of great wealth. Industries like agriculture, tourism, manufacturing, and many more also contribute to its economy.
Besides, it is also predicted that Ireland will top the list of the richest country surpassing Luxembourg in 2027. Ireland has a GDP per capita (PPP) of $124,596 and GNI per capita is $74,520.
4. Qatar
GDP/ Capita in PPP- $112,789
With 3,059,00 inhabitants, Qatar is in the fourth position of the richest country in the world. One of the primary sources of its income and wealth is the rich oil and natural gas industries. It has a major role in contributing to the economy and infrastructure development of the country.
Qatar also has working industries like real estate, construction, high-tech, finance, aerospace, and information technology. The GDP per capita (PPP) of Qatar is $112,789 and its GNI per capita is $57,120.
5. Switzerland
GDP/ Capita in PPP- $84,658
Switzerland is one of the richest country in the world with the highest ranking of world’s happiest country with a good quality lifestyle. Its main source of income is exporting business which also helps in the development of the economy of the country.
Besides, Switzerland is also famous for its handmade goods, cheese, jewelery, confectionary, furniture, and many more such items. The GDP per capita (PPP) of the country is $84,658 and its GNI per capita is $90,360.
6. United Arab Emirates
GDP/ Capita in PPP- $78,255
United Arab Emirates (UAE) is on the list of the richest country in the world with high-class economic strength. Its main industry that contributes to the economy of the country is hydrocarbon and gas reserves. Other than that, it also focuses on industries like technology, finance, and tourism.
Having the Burj Khalifa and Dubai Metro plays a major role in developing the country’s wealth. Some benefits in UAE include free education and healthcare services. Its GDP per capita (PPP) is $78,255 and its GNI per capita is $39,410.
7. Norway
GDP/ Capita in PPP- $77,808
Norway is in the seventh position as the richest country in the world. The main resource of its economic growth is the natural resources found in Norway, such as fish, gas, and oil. Besides, they also have industries like various technology, shipping, and renewable energy which help in the development.
One of the plus points of this country is its social welfare system which provides several benefits to the citizens like free education, healthcare, and generous parental leave policies. The GDP per capita (PPP) of Norway is $77,808 and its GNI per capita is $83,880.
8. United States
GDP/ Capita in PPP- $76,027
With a population of 336,958,000, the United States comes in eight positions in the list of the richest country in the world. The diverse opportunities for individuals from all around the globe are what attract the economy most. The United States has major economic benefits such as the availability of natural resources like gas and oil.
Besides it is a hub for industry-working people in engineering, biotechnology, and computer technology. The comfort and high-quality lifestyle are something that the US tops in. Its GDP per capita (PPP) is $76,027 and its GNI per capita is $70,930.
9. Brunei
GDP/ Capita in PPP- $74,953
Brunei is one of the richest country in the world with a population of 434,000. Its economic growth depends on natural resources like oil and liquefied natural gas.
However, there was a downfall in their economy in 2016 but they worked and made it back to the list. The GDP per capita (PPP) of Brunei is $74,953 and its GNI per capita is $31,510.
10. San Marino
GDP/ Capita in PPP- $70,139
San Marino has a GDP per capita (PPP) of $70,139 and its GNI per capita is $40,801, which makes it the tenth richest country in the world. It is economically strong and has the major exporting business of best quality goods.
San Marino is also famous for its beautiful landscapes and mild Mediterranean climate which attracts tourists. With a population of 33,700, this country has fine Italian craftsmanship, refined hospitality, harmony, and equilibrium.
11. Denmark
GDP/ Capita in PPP- $69.273
Denmark is situated in Northern Europe and is on the list of the richest country in the world. With over 5,893,000 population, its economic status is high quality. The major industries that contribute to the GDP of Denmark are the service industry and the high-tech manufacturing industry.
Moreover, healthcare, childcare, and education are free in this country. The GDP per capita (PPP) of Denmark is $69,273 and its GNI per capita is $68,300.
12. Netherlands
GDP/ Capita in PPP- $68,572
Being one of the most populated countries in Europe, the Netherlands has a population of 17,650,000. It comes in the twelfth position on the list of the richest country in the world. The major economic growth of this company depends on foreign investments and international trade relationships.
The Netherlands has a GDP per capita (PPP) of $68,572 and its GNI per capita is $55,200. It has the headquarters of some big companies like Unilever, Philips, and Shell. Besides, the Netherlands exports high-quality daffodils and cheese.
13. Austria
GDP/ Capita in PPP- $64,571
The economy of Austria depends on several industries like finance, medicine, technology, insurance, and tourism. It all makes Austria one of the richest country in the world. With a population of 9,003,000, the high-tech availabilities are vast in the country.
Austria has a GDP per capita (PPP) of $64,571 and its GNI per capita is $52,760. The tax rates of this country are favorable, as well as it has access to the EU’s single market.
14. Iceland
GDP/ Capita in PPP- $64,621
A small island with a robust economy, Iceland has a population of 380,500. With such a small percentage, life on this island is of a high standard. It is on the list of the richest country in the world. The major economic growth of Iceland depends on tourism and fishing.
The GDP per capita (PPP) of Iceland is $64,621 and its GNI per capita is $63,460. The political and economic freedom of this country is what attracts most investors.
15. Andorra
GDP/ Capita in PPP- $63,600
With no income tax, Andorra provides a customs union with European Union which majorly contributes to its economic growth. With over 80,300 population, this country comes in the list of the richest country in the world.
The GDP per capita of Andorra is $63,600 and its GNI per capita is $46,530. Besides, the country also offers financial incentives and minimal corporate taxes to several businesses here. Real estate has drawn to Andorra because of its winter skiing, moderate climate, and picturesque landscape.
16. Germany
GDP/ Capita in PPP- $63,271
The most populated country in Europe, Germany is on the list of the richest country in the world. The GDP per capita (PPP) of this country is $63,271 and its GNI per capita is $47,060. From an economical point of view, it is the largest country in Europe.
The major industries which contribute to the economy of Germany are imports and exports business. It offers a lot of benefits to its citizens like free education and healthcare. The education system is what attracts most individuals to Germany.
17. Sweden
GDP/ Capita in PPP- $62,926
One of the richest country in the world is Sweden with a population of approx. 10.3 million people. However, the density of this country is very low and the total area of land is approx. 450,000 kilometers. The GDP per capita (PPP) of Sweden is $62,926 and its GNP per capita is $54,060.
18. Australia
GDP/ Capita in PPP- $60,053
Australia is a country as well as a whole continent situated on Southern Earth. The population of this country is over 25 million residential areas with a density of 3.3 people per sq. km. Its major source of economic strength is the goods and services import and export business.
Australia has a GDP per capita (PPP) of $60,053 and its GNP per capita is $53,730. The largest population of the country is majorly spread in Sydney, Melbourne, Brisbane, Perth, and Adelaide. Australia is on the list of the richest country in the world.
19. Belgium
GDP/ Capita in PPP- $59,460
Belgium is one of the smallest nations in Europe with approx. 11.4 million population. It has a land of approx. 30,600 sq. kilometers and is on the list of the richest country in the world. However, the economy of Belgium is highly powerful and makes the life of its people, high quality.
The GDP per capita (PPP) of this country is $59,460 and its GNP per capita is $45,180. The density of this country is quite large with over 376 people per sq. kilometers.
20. Finland
GDP/ Capita in PPP- $59,311
A Nordic country Republic, Finland is on the list of the richest country in the world. It has a population of approx. 5.5 million residents. The density of this country puts it in the 213th position with 16 Finns per sq. kilometers.
The GDP per capita (PPP) of Finland is $59,311 and its GNP per capita is $49,700. With a low population compared to its size, this country has a quite good economy which depends majorly on the export and import of goods and services.
21. Bahrain
GDP/ Capita in PPP- $59,257
Bahrain country is in the 21st position on the list of the richest country in the world. With over 1,569,439 populations this country has a major export and import business. Bahrain has a GDP per capita (PPP) of $59,257.
Its major working industries that contribute to economic growth are petroleum, aluminum, iron, and fertilizers. Besides, Bahrain also has a working industry like offshore banking, ship repairing, insurance, and tourism.
22. Malta
GDP/ Capita in PPP- $58,894
With a population of 514,664, Malta is in 22nd position on the list of the richest country in the world. The major industries which contribute to its economic growth are import and export businesses.
Malta’s exporting products are machinery, mechanical appliances, printed books, pharmaceutical products, newspapers, and many more. The GDP per capita (PPP) of Malta is $58,894 with the GDP per capita (PPP) ranked 27th.
23. Canada
GDP/ Capita in PPP- $58,725
Canada is on the list of the richest country in the world with a GDP per capita (PPP) of $58,725. It makes the GDP per capita rank (PPP) of this country 28th. The economy of Canada majorly developed by the service industry which employs over three-quarters of Canadians.
The major industries of Canada are transportation, chemicals, minerals, wood, paper, fish products, food products, natural gas, and petroleum. With approx. 39,566,248 population, this country has an average gross salary of $1,169 weekly.
24. Saudi Arabia
GDP/ Capita in PPP- $58,711
Saudi Arabia comes in the 24th position on the list of the world’s richest countries. With a population of 36,093,000, it serves great economical benefit as a tourist place. The GDP per capita (PPP) of Saudi Arabia is $58,711 and majorly divided into the agriculture and service industries.
The major working industries of Saudi Arabia are petroleum, crude oil production, refining, ammonia, petrochemicals, industrial gases, cement, sodium hydroxide, fertilizers, metals, plastics, ship repair, construction, and aircraft repair.
25. United Kingdom
GDP/ Capita in PPP- $57,821
With a population of 67,026,000, the United Kingdom comes in the 25th position as the richest country in the world. The GDP per capita (PPP) of this country is $57,821 and the GDP per capita rank (PPP) is 26th.
The main industries that work in the United Kingdom are electric power, machine tools, automation, shipbuilding, railroad equipment, motor vehicle parts, and aircraft. Besides, other industries like textiles, clothing, food processing, metals, coal, chemicals, petroleum, and consumer goods also contribute to its economy.
26. France
GDP/ Capita in PPP- $56,970
France is in the 26th position on the list of the world’s richest countries with a population of over 68,043,000. The major industries that contribute to the economic strength of this country are machinery, automobiles, chemicals, aircraft, metallurgy, textiles, electronics, tourism, and food processing.
The GDP per capita (PPP) of France is $56,970 and the GDP per capita rank (PPP) is 25th. Besides, the average net salary of this country is €27,543 / $31,304 annually.
27. Korea
GDP/ Capita in PPP- $56,693
The highly developed country, the Republic of Korea is on the list of the richest country in the world. With a population of approx. $51,309,705 the GDP per capita (PPP) of this country is $56,693. Besides, the GDP per capita rank (PPP) of the Republic of Korea is on the 30th.
The major industries which distribute to the economic strength of this country are electronics, automobile production, telecommunications, shipbuilding, chemicals, and steel industry.
28. Guyana
GDP/ Capita in PPP- $55,138
With a population of approx. 789,683, Guyana is on the list of the richest country in the world. It has a GDP per capita (PPP) of $55,138 with a GDP per capita rank (PPP) of 40th.
The major industry that contributes to the country is the export and import business. Guyana exports goods such as petroleum, gold, sugar, bauxite, rice, alumina, shrimp, rum, molasses, and timber.
29. Israel
GDP/ Capita in PPP- $54,750
The GDP of Israel shows why it is on the list of the richest country in the world. With over 9,521,000 population, this country has a GDP per capita (PPP) of $54,750. Besides, the sector that contributes to its GDP growth is agriculture, industry, and services.
The major working industries in Israel are high-technology goods and services, pharmaceuticals, metallurgy, potash, phosphates, chemical products, diamond cutting, plastics, petroleum refining, financial services, and textiles.
30. Kuwait
GDP/ Capita in PPP- $53,841
With over 4,446,195 population, Kuwait is on the list of one of the richest country in the world. The country is highly developing recently and emerging in new technologies. The GDP per capita (PPP) of this country is $53,841.
The major industries that contribute to the economic growth of Kuwait are petroleum, steelmaking, petrochemicals, cement, desalination, shipbuilding and repair, construction materials, and food processing.
31. New Zealand
GDP/ Capita in PPP- $53,242
With approx. population of 5,133,820, New Zealand is on the list of the top 50 richest country in the world. It ranks in the 31st position and has a GDP per capita (PPP) of $53,242. Besides, the GDP per capita rank (PPP) of New Zealand is 32nd.
New Zealand has a free-market highly developed economy. The major industries that distribute to the economic growth of this country are goods processing, forestry, agriculture, financial services, and tourism.
32. Italy
GDP/ Capita in PPP- $52,825
Italy ranks 32nd on the list of the richest country in the world. Its population is approx. 58,850,717 and the GDP per capita (PPP) of Italy are $52,825. Besides, the GDP per capita rank (PPP) of this country is 31st.
The industries that play a major role in its economic growth are tourism, robots, machinery, aircraft, defense system, electronics, iron, steel, and chemicals. Moreover, some other working industries are food processing, pharmaceuticals, scientific instrumentations, clothing, textiles, footwear, motor vehicles, ceramics, electric power, and cruise ship.
33. Slovenia
GDP/ Capita in PPP- $52,517
Slovenia is well-known for its high-level stability and prosperity with a GDP per capita (PPP) of $52,517. The population of this country is approx. 2,110,547 and ranks 33rd in the list of the richest country in the world. Besides, the GDP per capita rank of Slovenia is 36th.
The GDP sector is divided into three, first is agriculture with a 1.8% rate, the second is the industry with a 32.2% rate, and third is services with a 65.9% rate. The major industries of Slovenia are ferrous metallurgy and aluminum products, electric power equipment, trucks, lead, zinc smelting, and many more.
34. Cyprus
GDP/ Capita in PPP- $52,057
With the population rate of approx. 0.913 million, Cyprus is on the list of the richest country in the world. Its GDP per capita (PPP) is $52,057 and the GDP per capita rank is 31st.
The major industries that contribute to the economic growth of Cyprus are tourism, cement and gypsum, food and beverage processing, textiles, light chemicals, ship repair and refurbishment, metal products, clay products, wood, paper, and stone.
35. Japan
GDP/ Capita in PPP- $51,594
Japan is a highly developed country with vast knowledge of technology and the availability of its equipment. This highly advanced country has a GDP per capita (PPP) of $51,594 and a GDP per capita rank (PPP) of 36th as of 2023.
The major industries that contribute to Japan’s economic strength are motor vehicles, electronics, machine tools, nonferrous, steel, ships, metals, textiles, chemicals, and processed foods.
36. Czech Republic
GDP/ Capita in PPP- $51,328
The expert-oriented market social economy of the Czech Republic is what makes it on the list of the richest country in the world. The population of this country is approx. 10,741,381 and GDP per capita (PPP) is $51,328. Besides, the GDP per capita rank (PPP) is 36th.
The main working industries in the Czech Republic that contribute to its economic growth are engineering, motor vehicles, electronics, machinery, metallurgy, pharmaceuticals, and chemicals.
37. Aruba
GDP/ Capita in PPP- $48,714
With a GDP per capita (PPP) of $48,714, Aruba ranks 37th on the list of the richest country in the world. Tourism is the major source of income, and the beauty of this place is what attracts tourists the most. Moreover, the working industries that also contribute to Aruba’s economic growth are petroleum transshipment facilities and banking.
38. Estonia
GDP/ Capita in PPP- $48,644
The population of Estonia is approx. 1,330,068 and rank 38th in the list of the richest country in the world. The advanced economy and highly developed country have a GDP per capita (PPP) of $48,644. Besides, the GDP per capita rank is 41st.
The major industries working, that contribute to the growth of Estonia are engineering, wood, articles of wood, electronics, textiles, telecommunications, and information technology.
39. Spain
GDP/ Capita in PPP- $48,594
Spain is one of the richest country in the world with a highly developed market social economy. The population of this country is approx. 47,435,597 and the GDP per capita (PPP) is $48,594. Besides, the GDP per capita rank (PPP) is 38th.
The main working industries of Spain that contribute to the growth of its economy are machinery, medical equipment, electronics, chemicals, clothing, motor vehicles, food processing, shipbuilding, and tourism.
40. Lithuania
GDP/ Capita in PPP- $48,335
With a population of over 2,794,090, Lithuania ranks 40th on the list of the richest country in the world. The GDP per capita (PPP) of the country is $48,335 and the GDP per capita rank is 39th.
Major industries that work to contribute to the growth of the economic sector if Lithuania is petroleum refining, energy supplies, food processing, furniture, chemicals, wood products, clothing, and textiles.
41. Puerto Rico
GDP/ Capita in PPP- $46,023
The population of Puerto Rico is approx. 3,285,874 and the GDP make it one of the world’s richest countries. The GDP per capita (PPP) of this country is $46,023. Besides, the major industries that contribute to Puerto Rico’s economic growth are pharmaceuticals, apparel, electronics, food products, and tourism.
42. Hungary
GDP/ Capita in PPP- $44,434
The highly mixed-income economic country, Hungary is one the world’s richest countries. With a population of 9,609,641, this country ranks 42nd on the list. The GDP per capita (PPP) of Hungary is $44,434 and the GDP per capita rank (PPP) is 42nd.
The major working industries that contribute to Hungary’s economic strength are motor vehicles, information technology, mining, metallurgy, chemicals, pharmaceuticals, food processing, textiles, and electronics.
43. Poland
GDP/ Capita in PPP- $44,249
With approx. 38,179,800 population, Poland comes in the list of the richest country in the world. The GDP per capita (PPP) of this country is $44,249 and the GDP per capita rank is 41st. The major working industries of Poland helping in economic growth are machine building, chemicals, iron & steel, mining coal shipbuilding, furniture, food processing, glass, beverages, and textiles.
44. Portugal
GDP/ Capita in PPP- $43,948
Portugal is one of the richest country in the world with a population of approx. 10,421,117. The GDP per capita (PPP) of this country is $43,948 and the GDP per capita rank is 42nd. It is a highly developed and advanced country.
The major working industries that contribute to its economic strength are textiles, footwear, building materials, clothing, wood and cork, paper, base metals, technology, telecommunications, dairy products, wine and other foods, chemicals, auto-parts manufacturing, porcelain and ceramics, glassware, ship construction, and refurbishment, and tourism.
45. Oman
GDP/ Capita in PPP- $42,980
Oman has a great oil sector which increases the economic growth of the country utmost. It makes it one of the richest countries in the world with a GDP per capita (PPP) of $42,980. Besides, the GDP per capita rank of Oman is 58th.
The major industries working towards the growth of the economic sector of Oman are crude oil production, refining, construction, natural and liquefied natural gas (LNG) production, cement, steel, copper, chemicals, and optic fiber.
46. Bahamas
GDP/ Capita in PPP- $42,416
The GDP per capita (PPP) of the Bahamas is $42,416 making it on the list of the richest country in the world. The country is famous for its offshore banking and tourism. This alluring place attracts a lot of tourists.
The major industries that contribute to the growth of the Bahamas are tourism, cement, banking, salt, rum, oil transshipment, pharmaceuticals, aragonite, and spiral-welded steel pipe.
47. Turkey
GDP/ Capita in PPP- $40,882
With the approx. population of 85,279,553, Turkey is on the list of the richest country in the world. The GDP per capita (PPP) of this country is $40,882 and the GDP per capita rank is 46th.
The major economically distributing industries of Turkey are machinery, textile, tourism, construction, electronics, autos, shipbuilding, steel, mining, copper, iron, boron, food processing, defense, cotton, and petroleum.
48. Romania
GDP/ Capita in PPP- $40,672
Romania has a population of 19,053,815 with a GDP per capita of $40,672. It is a highly developed country with a great skilled labor force. The GDP per capita rank is 48th which makes it one of the richest country in the world.
The major working industries contributing to the development and growth of Romania’s economy are electric machinery and equipment, textiles and footwear, auto assembly, metallurgy, light machinery, food processing, chemicals, mining, petroleum refining, timber, and construction materials.
49. Seychelles
GDP/ Capita in PPP- $40,649
The GDP per capita (PPP) of Seychelles is $40,649 and the GDP per capita rank is 59th. The major industries that contribute to the growth of the economical status of Seychelles are tourism, fishing, processing of vanilla, coconuts, coir rope, boat building, furniture, printing, and beverages.
50. Slovak Republic
GDP/ Capita in PPP- $40,546
The Slovak Republic is on the list of the richest country in the world with a population of approx. 5,457,873. The GDP per capita (PPP) of this country is $40,546 and the GDP per capita rank is 41st. it is one of the highly developed and advanced countries and become an EU member state in 2004.
Some major industries contribute to Slovak’s economic growth like automobiles, metal and metal products, gas, coke, oil, electricity, nuclear fuel, synthetic fibers, chemicals, machinery, wood and paper products, textiles, earthenware and ceramics, electrical, optical apparatus, rubber products, pharmaceutical, food, and beverages.
Conclusion
With that, you have the latest list of top 50 richest country in the world. The sequence might change every year depending on the growth of the countries. Besides, the GDP depends on several aspects of the country and financial status have many faces. We hope you find this article helpful!
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