Top 10 Richest Country in the World
Top 10 Richest Country in the World
After much research and more discovery here are my personal self-made/written article on the top 10 richest countries in the world. On the list Qatar ranked top 1, with a capital income of around $134,620 in other-words Qatar happens to be the richest country in the world.
Sometimes I kind of wish that I was born in Qatar, cos it’s one of the world richest country, but my country still remains the best to me. Qatar is well known for oil exploration (petroleum industry).
See more info’s below on Qatar and other top 10 richest countries in the world.
The richest countries in the world can be measured by GDP per capital.
With the help of Gross Domestic Product (GDP), we were able to know the world’s wealthiest countries using the Purchasing Power Parity (PPP) per capital.
Shown below, the top 10 wealthiest countries in the world, it’s no surprise that all know Oil nations dominate the list with some little surprises.
One of the major player of the main wealth of a country is location.
Let’s take example from Asia, the third-world countries in GDP did not rank very well.
When looking at the most wealthiest countries in the world, you definitely would notice that the main source of income such as trade or massive production always end up ranking higher on the list. Poor countries aren’t always involved in global trade, but they are always independent which means there are directly involvement in international affairs are lesser than wealthy countries. Let focus more on the statistics regarding the wealthiest countries in the world.
Below are the top 10 richest/wealthiest countries in the world.
1. QATAR
Qatar with a capital income of $134,620, topped the richest countries in the world as No. 1. With 70% of its revenue gotten from its well developed oil exploration industry (petroleum industry), 60% of its GDP and 85%of its export incomes. Recall that Qatar’s GDP barely made it to top 50 world largest, with the low population of two million result in a large GDP per capital, with a most of the resident Qatar enjoying a very high standard of living.
2 2. Luxembourg
Luxembourg With second place in the top 10 richest country in the world, with per capital GDP (PPP) of $108,810. Has a very strong economy which has a vibrant financial sector as the backbone, with prudent fiscal policies, and with an outstanding industrial and steel sectors.
3 3. Singapore
Even with the tiny city-state, Singapore still hold it’s grand to rise up from its 5th position to 3rd position with per capital income (PPP) of $103,720. Singapore has its wealth basically from its financial service sector, which is the chemical export industry, and has great economic policies that promote growth and innovation.
4 4. Brunei
Brunei ranks as the fourth richest county in the world with a per capital income (PPP) of $83,780.
With a total of 2,226 sq mi in southeast Asia, the country’s wealth and economy of the largely supported by its petroleum sector. Which makes Burnei the ninth-largest liquefied natural gas producer in the world and holding the position of the third-largest oil producer in Southeast Asia.
5 5. Ireland
The Emerald Isle made the 5th position in the top ten with a per capital income of $82,440 with a population of about 4.8 million people. The main boost to it’s economy are the textiles, mining, and food production industries.
6 6. Norway
Nordic nation’s per capital GDP of $76,740 give ways it’s 4.97 million people enjoy the benefits of small but mighty economy. Driven by fishing, natural resources, and major petroleum exploration, and has made Norway the eighth largest exporter of crude oil, 9th largest exporter of refined oil, and 3rd largest exporter of natural gas in the world.
7 7. The United Arab Emirates
Middle Eastern federation of Emirates with a land area of about 32,278 sq. with a per capital income (PPP) of $70,570, of which roughly one-third comes from oil revenues, while the service sector and telecommunications also contribute significantly.
8 8. Kuwait
With my little research Kuwait hosts a little, relatively open economy, with a per capital GDP (PPP) of $67,970 with nearly 10% of the world's oil reserves, petroleum accounts for nearly half of GDP and 95% of export revenues and government income.
9. Switzerland
With a per capital GDP (PPP) of $65,741, Switzerland have consistently ranked among the top ten worldwide in terms of standards of living.
This rate is 3 -tenths of one percent higher than the figure of 0.3% published in the forth quarter of 2018.
Switzerland is number 9 in the ranking of top 10 country quarterly GDP of the 9 countries that we publish.
If we order the countries according to their GDP per capital, Switzerland is very well positioned in terms of the standard of living of its population, coming 2 th out of the 50 countries whose quarterly GDP we publish.
10. United States
United States, has maintain a per capital GDP (PPP) of $64,770, considering its population of over 310 million people. With the help of its large domestic automotive industry, a technological sector that fosters innovation, and a system of democracy that protects entrepreneurial and intellectual property rights.
United State GDP grew 0.8% in the first quarter of 2019 and if we compared this to the previous quarter. This rate is 3 -tenths of one percent higher than the figure of 0.5% published in the fourth quarter of 2018.
The year-on-year change in GDP was 3.1%, 9 -tenths of one percent more than the 2.2% recorded in the fourth quarter of 2018.
The GDP figure in the first quarter of 2019 was $5,265,016 million, United States is the world's leading economy with regard to GDP, as can be seen in the ranking of quarterly GDP of the 50 countries that we publish.
In Conclusion
I would say the Oil Nations are more wealthy and richer, because of their mineral rescues. Their policies also have a major role to play in determining the wealth of the country.
More update coming soon…………
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