Top Ten Richest Countries In The World – Have you ever wondered why a liter of beer is so expensive in some places but almost nothing in other parts of the world? Part of this has to do with international exchange rates, but the biggest reason is that some places are richer than others, as our recent visualization makes clear.
We get our data for 2020 from the International Monetary Fund (IMF). GDP per capita measures a country’s economic output adjusted for population size. This is an important number because countries with high population such as China or India may have millions of poor citizens while having a high gross domestic product. The IMF further adjusts its figures to achieve purchasing power parity, which levels the playing field among international currencies. We’ve assembled each country’s flag in a color-coded order to show you the global dos and don’ts.
Top Ten Richest Countries In The World
Countries with the highest GDP per capita adjusted for purchasing parity tend to be relatively small city-states with international reputations in some industries. The richest country in the world, Qatar ($138.9k), is a small Middle Eastern country with abundant oil. Macau ($113.4k) is similarly a small autonomous region where Asia’s wealthy go to gamble. The other two countries that broke $100,000 are also smaller countries, Luxembourg ($112k) and Singapore ($105.7k).
List Of Countries By Total Wealth
The United States is conspicuously absent from the list of top 10 countries. Whether you believe the United States is the greatest country in the world or not, it is certainly not the richest country per capita. At just $67.4k per resident, the US ranks 12th behind places like Switzerland ($67.6k) and Kuwait ($67.9k). But the US is by far the wealthiest country in the Americas, easily surpassing Canada ($52.1K). The rest of the hemisphere falls below $50,000.
The final idea that comes from our visualization is how poor Africa is compared to the rest of the world. There is not a single African country with a per capita GDP of more than US$50,000 that ranks last in almost all measures of wealth and living standards. In fact, the two highest-ranked African countries, Seychelles ($33.1k) and Mauritius ($26.5k), aren’t even on the physical continent. The vast majority of people in Africa earn less than $10,000 in GDP per capita, several times lower than any developed economy in the world.
Adjusting per capita for purchasing power per GDP is a great way to compare wealth between countries, but it doesn’t account for wealth inequality within each country. For example, the US has a GDP per capita of $67.4k, but that doesn’t mean the average person contributes that much to the economy. As of 2018, the average salary in America was about $50,000, but the median was about $33,000. This suggests that a small number of rich people increase the total number.
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Ranked: The Top 10 Richest People On The Planet
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Qatar, Luxembourg and Singapore: In addition to sharing the distinction of being one of the smallest countries in the world, they are also three of the richest countries in the world, according to an analysis by Global Finance magazine.
Countries By Gdp: The Top 25 Economies In The World
Based on data from the IMF, the magazine ranked the world’s countries by GDP per capita and determined the poorest and richest countries.
The analysis used a purchasing power parity (PPP), which takes into account the cost of living and inflation rates to compare the standard of living between different countries.
Some smaller territories were not included in the study, such as Liechtenstein, Nauru, Vatican City, Monaco, San Marino and Andorra.
Located on the east coast of Saudi Arabia, Qatar became the richest country in the world during 2009-2013 using this measure.
Top 10 Richest Country In The World Map Hd
The Democratic Republic of Congo is at the other end of the spectrum and was the poorest country in the world in 2010-2013.
Map of world’s richest and poorest countries – Mørkerød: highest GDP per capita, Lyserød: lowest GDP per capita Global Finance Magazine
Luxembourg is the second richest country in the world with an average GDP per capita of USD 79,593.91. The high number is due, among other things, to the large number of people who work while living in the small landlocked state bordering France, Germany and Belgium.
These wages are added to the total on which GDP per capita is calculated, but since they do not live in the country, they are not part of the figure that is broken down.
Top 10 Richest Countries In Africa (2022)
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