The Gross Domestic
Product (GDP) is one of the economic indicators that provide valuable
information about the economy. It is the monetary value of all the finished
goods and services produced within a country's borders in a specific time
period. In this article, we are giving the name of top 10 list of Richest
Countries in the World on the basis of report given by the International
Monetary Fund assessments and US Central Intelligence Agency's list of
countries by GDP (PPP).
The Gross Domestic
Product (GDP) is one of the economic indicators that provide valuable
information about the economy. It is the monetary value of all the finished
goods and services produced within a country's borders in a specific time
period. It identifies the wealth of a specific country. It is a measure of
consumer spending (C) plus business investment (I) and government spending (G)
as well as its net exports, which is exports minus imports (X-M).
Top 10 Richest
Countries in the World
The top 10 list of the
Richest Countries in the World is drafted on the basis of latest report given
by the International Monetary Fund assessments and US Central Intelligence
Agency's lists of countries by GDP (PPP) are discussed below:
10. Hong Kong
GDP per
capita ($): 63, 350
It is an
Administrative Region of the People's Republic of China which is located on the
eastern side of the Pearl River estuary in southern China. It has consistently
ranked at the top of the Heritage Foundation's index of economic freedom since
1995, but the region suffers from a relatively high level of income disparity.
9. UAE
GDP
per capita ($): 69, 900
It is located at the
southeast end of the Arabian Peninsula on the Persian Gulf, bordering Oman to
the east and Saudi Arabia to the south, as well as sharing maritime borders
with Qatar to the west and Iran to the north. It has the second largest economy
in the GCC (after Saudi Arabia) and ranked as the 26th best nation in the world
for doing business based on its economy and regulatory environment, ranked by
the Doing Business 2017 Report published by the World Bank Group.
8. Kuwait
GDP
per capita ($): 71,930
It is located in the
Western part of Asia and shares borders with Iraq and Saudi Arabia. It has a
high-income economy backed by the world's sixth largest oil reserves.
7. Norway
GDP
per capita ($): 72,190
It is a Nordic country
which is located in the North-western part of Europe. It has one of the highest
GDP per-capita among European countries. The economy of this country has a
mixed economy which is embedded by a prosperous capitalist welfare state and
social democracy country featuring a combination of free market activity and
large state ownership in certain key sectors.
6. Ireland
GDP
per capita ($): 75,790
It is an island in the
North Atlantic which is separated from Great Britain to its east by the North
Channel, the Irish Sea, and St George's Channel. It is the second-largest
island of the British Isles, the third-largest in Europe, and the
twentieth-largest on Earth. It has a knowledge economy, focused on services
into high-tech, life sciences and financial services industries. Ireland is an
open economy (6th on the Index of Economic Freedom), and ranks first for
high-value foreign direct investment (FDI) flows
5. Brunei Darussalam
GDP
per capita ($): 77,700
It is located on the
north coast of the island of Borneo in Southeast Asia. It is also known as
Nation of Brunei, the Abode of Peace. It has wealthy economy which is a mixture
of foreign and domestic entrepreneurship, government regulation, welfare
measures, and village tradition.
4. Singapore
GDP
per capita ($): 93,680
It is a sovereign
city-state and island country in Southeast Asia. It is also a global hub for
education, entertainment, finance, healthcare, human capital, innovation,
logistics, manufacturing, technology, tourism, trade, and transport.
3. Luxembourg
GDP per
capita ($):112,710
It is located in the
western part of Europe and shares its border with Belgium, Germany and France.
It has stable and high-income market economy features moderate growth, low
inflation, and a high level of innovation
2. Macao
GDP
per capita ($): 125,170
It is an autonomous
territory on the western side of the Pearl River estuary in East Asia. Its
economy is based largely on tourism and Other chief economic activities are
export-geared textile and garment manufacturing, banking and other financial
services.
1. Qatar
GDP
per capita ($): 129,360
It is located in the
Western Asia which is neighbouring the Gulf Cooperation Council (GCC) monarchy
Saudi Arabia to the south, with the rest of its territory surrounded by the
Persian Gulf. Its economy is based on the export of petroleum and
liquefied petroleum gas.
Top 10 Richest Countries in the World
|
Country (Rank)
|
GDP per capita ($)
|
|
10. Hong Kong
|
63, 350
|
|
9. UAE
|
69, 900
|
|
8. Kuwait
|
71,930
|
|
7. Norway
|
72,190
|
|
6. Ireland
|
75,790
|
|
5. Brunei Darussalam
|
77,700
|
|
4. Singapore
|
93,680
|
|
3. Luxembourg
|
112,710
|
|
2. Macao
|
125,170
|
|
1. Qatar
|
129,360
|
