Richest Country in the World – Top 10 List
What is the richest country in the world? People also do a search for “Which country is the richest in the world?”.This article will answer the questions. There are around 200 countries in the world. All of them have different kinds of economies. While some country have an economy dependent on agriculture, some country have their economy dependent entirely on oil and gas production. Some country have very less GDP in-spite of large population, on the other hand some have high GDP in spite of the small population. Welcome to this list of top 10 richest countries in the world based on Purchasing Power Parity (PPP) per Capita.
The list is topped by the Persian Gulf country Qatar for this year 2013. Below is the table which shows the wealthiest nations on Earth along with an average income of each citizen. Note that this article has been written in 2013 but it presents the richest country in 2012.
List of Top 10 Richest Countries
Name of Country
Per Capita Income
|8||United Arab Emirates||$48,434|
Source: Institute of International Finance, Washington for year 2013
#1) Qatar – Richest Country in the World and in Asia
GDP (PPP): $106,283.96
Capital City: Doha
With a population of around 1.9 million and GDP equal to $182 Billion, Qatar is the world’s richest country. It lies in the Persian Gulf and it is a peninsula. It lies in the Middle East and is richest Arab country in the world. Saudi Arabia lies to its south. The economy of this country is entirely dependent on Petroleum as it contributes nearly 85% of export earnings. Banking and Tourism are other areas where Qatar generates money. It is also the richest country in Asia.
#2) Luxembourg – Richest Country in Europe
GDP (PPP): $79,649.49
Capital City: Luxembourg
Holding the title of the wealthiest country in Europe, Luxembourg is much famous as a tax heaven. Many billionaires from around the globe reside in this country to save themselves from taxes in their homeland. It is the second richest country in the world. With a population of just around half million, it has striking contrast of green pastures of land alongside the industrialized city. It lies in Europe and is headed by a Grand Duke. Banking, Steel Industry and telecommunications contribute heavily to its wealth.
GDP (PPP): $61,046.96
Capital City: Singapore
Located in Southeast Asia and comprising of 63 islands, Singapore is a fully island country. On this list of top 10 wealthiest nations, it ranks third. It is one of the largest financial centers in the world and along with Taiwan, Hong Kong and South Korea, it forms the Four Asian Tigers. Its population is around 5.5 millions with majority of them practicing Buddhism.
GDP (PPP): $54,479
Capital City: Oslo
A country with roughly 5 million people, Norway, coupled with high GDP and comparatively low population, it is one of the richest countries on Earth. Sharing its border with Finland, Sweden and Russia, it is a developed country. The economy of this rich nation depends on oil and natural gas reserves which is found around it.
#5) Hong Kong SAR
GDP (PPP): $50,716
Lying on China’s South coast, Hong Kong is the fifth country in this list based on per capita income. It has a high GDP and it is a leading financial destination in the world as well as in Asia. It is a specially administrated region with its own currency but defense services from China.
#6) Brunei Darussalam
GDP (PPP): $50,440
Capital: Bandar Seri Begawan
Located in Southeast Asia, Brunei generates its revenues from crude oil and natural gas exports. Revenues from petroleum contribute around 90% of its GDP. With a small population of less than half-a-million, Brunei is one of the least densely populated country in the world. Its sultan is one of the richest people in the world.
#7) United States of America
GDP (PPP): $49,601
Capital: Washington DC
This country needs no introduction. The most powerful country in the world and the most powerful economy in the world, United States (US) leads the globe in science and technology and nearly in every research field which can be thought of. It is the largest exporter of weapons and also other goods and services. This rich country in the world has a GDP of around 15 trillion US Dollars which makes it the richest and biggest economy in the world. It is one of the wealthiest economy on planet Earth. On the American continent, this country is second to none. Thus it is also the richest country in the American continent (North as well as South America). This country is also the largest manufacturer in the world and the leading financial nation.
#8) United Arab Emirates (UAE)
GDP (PPP): $48,434
Capital: Abu Dhabi
Another wealthy country in the Middle-East, United Arab Emirates consists of seven independent Emirates which are ruled by their individual monarchs. It is the second richest Arab country. Its GDP is third largest in the Middle East after Saudi Arabia and Iran. It generates wealth from its oil and natural gas exports along with dried fish and dates. With the depletion of oil reserves, the UAE has started diversification of its businesses. This country now plans to make the UAE a big tourist destination and a leading financial market.
GDP (PPP): $44,015
Lying in the continent of Europe is this eight wealthiest nation. Switzerland has a diverse economy and it has one of the most stable economies of the world. The economy of this wealthy country depends on banking, Tourism, Industries and Agriculture. Switzerland is also a leading exporter of high-end watches in the world. It is one of the financial havens for those seeking to hide their cash. On our ranking of top 10 world’s richest countries, it ranks ninth.
#10) Kuwait – Rich Arab Country
GDP (PPP): $43,773
Capital: Kuwait City
Kuwait is another prosperous country in the middle-east. Like others, it also highly depends on petroleum for revenues. Crude Oil accounts for majority of its exports. It has a small population of 2.8 million of which majority are expatriates. The per capita income of Kuwaitis is around $43,000 and this makes it one of the richest countries in the world.
What is the GDP Per Capita?
According to popular website Investopedia, when the total output (GDP) of a country is divided by the number of people who live in that country, it gives the GDP per capita. It is useful in judging the health of an economy and it serves as one of the yardstick to compare performances of different countries in terms of money.
Important Note about this list
The data in this article were published in Institute of International Finance in the year 2013. The data is for the year 2011-2012. For the year 2013, various estimates and projections have been made by CIA, International Monetary Fund and other financial institutions.
For a comprehensive list, which contains names of top 20, top 50 or top 100 richest countries in the world, visit Wikipedia. Also, see richest countries in the world by the CIA.