Which Country Is The World Richest Country – Have you ever wondered why a pint of beer costs so much in some places but next to nothing in other parts of the world? Part of the reason has to do with international exchange rates, but a bigger reason is that some places are richer than others, as our recent analysis shows.
We got our data from the International Monetary Fund (IMF) for 2020. GDP per capita measures the economic output of a given country, adjusted for its population. This is an important indicator, because highly developed countries such as China or India can boast of high gross domestic products, but still have hundreds of millions of poor citizens. The International Monetary Fund has also revised its calculations to achieve purchasing power parity, which equates equally among international currencies. Each country’s flag is combined with a color code to show property and non-property around the world.
Which Country Is The World Richest Country
The countries with the highest GDP per capita, adjusted for purchase prices, all tend to be small city-states with global importance in specific industries. The richest country in the world, Qatar ($138.9 thousand), is a small Middle Eastern country with the highest amount of oil. Macau ($113.4K) is a similar small autonomous region where Asia’s wealthy go to gamble. The other two countries that will receive a $100K breakdown are similarly small countries, Luxembourg ($112K) and Singapore ($105.7K).
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The United States is clearly not on the top 10 list of countries. Believe it or not, the United States is the greatest country in the world, it’s definitely not the richest per capita. At just $67.4K, the US ranks 12th behind places like Switzerland ($67.6K) and Kuwait ($67.9K). That said, the United States is the richest in America, easily surpassing Canada ($52.1 thousand). The rest of the range is somewhere below 50 thousand dollars.
A final insight from our perspective is how poor Africa compares to the rest of the world. Dead last in almost every measure of wealth and standard of living, there is no African country with a per capita GDP of more than US$50,000. In fact, the top two African countries, Seychelles ($33.1K) and Mauritius ($26.5K) aren’t even on the physical continent. Most of Africa lives on less than $10,000 per capita GDP, several orders of magnitude lower than any developed economy in the world.
GDP per capita, adjusted for purchasing power, is an excellent way to compare wealth between countries, although it does not account for differences in wealth within each country. For example, the US has a GDP per capita of $67.4K, but that doesn’t mean the average person contributes much to the economy. In 2018, the median income in the United States is about $50,000, but the median is about $33,000. This suggests that a small number of rich people increase the overall rate.
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If you want to use our images in books, magazines, reports, educational materials, etc., we can grant a license, giving non-exclusive rights to copy, store, reproduce and distribute. This map shows the top 25 countries by this measure. They are found in North America, Europe, Asia and Oceania. It should be noted that not a single South American or African country was included in the list.
Despite ranking first worldwide in terms of gross domestic product, the United States ranks fifth with a per capita GDP of $63,051.
Interestingly, some countries with small populations have high GDP per capita. For example, Iceland is in the top ten with $57,189, but the island’s population is only 342,000 people. Similarly, Luxembourg has a population of less than 633,000 – but it is the richest country in the world per capita.
Looking back at history, many high-income countries follow the same linear journey. Starting as agriculture-based economies, they went through a period of rapid industrialization before becoming labor-based economies.
The 23 Richest Countries In The World
One of the main industries in Luxembourg today is banking and financial services, for example. Here are some of the top companies in the five richest countries:
The world’s richest economies are likely to remain at the top for the foreseeable future, although some may experience growth. For example, in Japan, the housing market is beginning to decline due to an aging population.
Yet the wealth of these countries today is staggering, with the world’s richest country having a GDP per capita 415 times that of the world’s poorest country.
Details: GDP per capita measured in US dollars, 2020. In the IMF database, Macao SAR and Hong Kong SAR are both listed separately from China.
Richest Countries In The World
Ranking: The most innovative companies of 2023 Ranking: World’s 25 richest countries by GDP per capita Ranking: 25 poorest countries by GDP per capita Mapped: Asia’s major energy resources by country Mapped: Europe’s energy sources by country United States and China is estimated to have half of the global global wealth
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Here are the average person’s daily activities and products and their carbon footprint, according to Carbon Clever.
Your transportation choices play an important role in determining your carbon footprint. For example, traveling 15 kilometers per day on public transport to work emits an average of 1464 g of CO₂. 3, compared to 360 g – twice the volume for the same long car journey.
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Top 50 Richest Countries In The World In 2023 [with Gdp Per Capita]
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List Of Countries By Total Wealth
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Qatar, Luxembourg and Singapore: Apart from sharing the distinction of being the world’s smallest countries, they are also the three richest countries in the world, according to an analysis by Finance Magazine Global.
Based on data from the International Monetary Fund, the magazine ranks the countries of the world by GDP per capita and determines the poorest and richest.
The analysis also uses a purchasing power parity (PPP) framework that takes into account transport costs and inflation rates to compare living conditions between different countries.
Top 40 Richest Countries In The World [ranked] 2023
Some smaller territories such as Liechtenstein, Nauru, Vatican City, Monaco, San Marino and Andorra were not included in the study.
Using this measure, Qatar, located on the east coast of Saudi Arabia, was ranked as the richest country in the world from 2009 to 2013.
The Democratic Republic of Congo is at the other end of the spectrum and was the poorest country in the world from 2010-2013.
Map of the world’s richest and poorest countries – dark red: highest GDP per capita, light red: lowest GDP per capita Journal of World Finance
Visualizing The Richest Countries In The World In 2020
Luxembourg is on average the second richest country in the world
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