Economics

The Richest Countries In The World

A list of the 13 richest populated nations, countries, kingdoms and principalities on the planet in 2016. The countries with the highest GDP per capita (PPP).

This 13 richest countries by gross domestic product (at purchasing power parity) per capita. Using the purchasing power parity (PPP) value of all final goods to show true value of dollar within a country in a given year. Oil nations continue to dominate the list in 2015 as they did in 2014.

13 – Austria - $46,223 GDP (PPP) per capita

Austria ranked 10th richest nation

The alpine nation has a population of about 8.5 million people with a healthy per capita income of $46,223, which is about four times higher than the per capita income for the average person globally. Its robust service sector and its proximity to Germany provide a ready market for its steel, iron and agricultural products. The Capital city, Vienna is the fifth richest metropolis in Europe behind Hamburg, London, Luxembourg, and Brussels.

12 – Netherlands - $47,633 GDP (PPP) per capita

Netherlands ranked 8th richest nation

With 16.8 million people, and a per capita GDP of $47,633, the Dutch are more than just a tulip country. Its success comes from three key sectors: mining, agriculture, and manufacturing. Many people do not know that the Netherlands is actually a kingdom of four countries: Aruba, Curaçao, the Netherlands and Sint Maarten but the Netherlands makes up 98% of the total land area in the Kingdom.

11 – Ireland - $48,755 GDP (PPP) per capita

Ireland ranked 9th richest nation

The Emerald Isle has a per capita income of about $48,755 with a population of about 4.8 million people. The main industries that boost its economy are textiles, mining, food production, staple products in any economy. In OECD (Organization of Economic Cooperation and Development) rankings, Ireland actually places 4th overall.

10 – Saudi Arabia - $51,924 GDP (PPP) per capita

Saudi Arabia is one of many oil-based economies with strong government control over major economic activities that enjoy high GDP. Its GDP (PPP) per capita is $51,924 as it possesses 18% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and played a leading role in OPEC for many years.The petroleum sector accounts for almost all of Saudi government revenues, and export earnings. Despite possessing the largest petroleum reserves in the world, its per capita income dropped is much smaller than of that of smaller Persian Gulf neighbors.

9 – The United States - $54,630 GDP (PPP) per capita

USA ranked 6th richest nation

While most nations on the list have small populations (relatively), it is impressive that the world's largest economy, the United States, can maintain a per capita GDP (PPP) of $54,630, considering its population of over 310 million people. Reasons behind its success include its large domestic automotive industry, technological sector that foster innovation, and a system of democracy that protects entrepreneurial and intellectual property rights.

8 – Switzerland - $57,235 GDP (PPP) per capita

Switzerland ranked 7th richest nation

The GDP (PPP) per Swiss citizen is $57,235. Swiss banking and financial institutions keep this country and its economy afloat. It is important to note that some of the wealthiest people and companies in the world own Swiss bank accounts and therefore Switzerland has excess capital to use for investment purposes. Zurich and Geneva, Switzerland's most well-known cities, have consistently ranked among the top ten highest living standard cities in the world.

7 – Norway - $64,856 GDP (PPP) per capita

Norway ranked 4th richest nation

This Nordic nation's per capita GDP of $64,856 allows its 4.97 million people to reap the benefits of a small yet robust economy. Driven by fishing, natural resources, and major petroleum exploration, Norway is the eighth largest exporter of crude oil, 9th largest exporter of refined oil, and 3rd largest exporter of natural gas in the world.

6 – The United Arab Emirates - $67,674 GDP (PPP) per capita

The United Arab Emirates ranked 3rd richest nation

This Middle Eastern federation of emirates has a land area of about 32,278 sq. miles, which means it could easily fit within New York State (54,556 sq. miles). With a population of 9.2 million people, it's a bit more populated than the state of New Jersey. A third of the $67,674 per capita economy comes from oil revenues, while the service sector and telecommunications also contribute significantly. The UAE is the second largest economy in the Arab world after Saudi Arabia.

5 – Brunei - $71,185 GDP (PPP) per capita

Brunei, a small country with a wealthy economy that is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition has led to GDP per capita (PPP) of 71,185. It is almost completely supported by exports of crude oil and natural gas. Like other oil countries in the list the government has shown progress in diversifying the economy away from just oil and gas.

4 – Kuwait - $73,246 GDP (PPP) per capita

Kuwait is a small, relatively open economy and its citizens enjoy a per capita GDP (PPP) of $73,246. The highest-valued currency unit in the world currently is the The Kuwaiti dinar. With nearly 10% of the world's oil reserves, petroleum accounts for nearly half of GDP and 95% of export revenues and government income. In recent years, Kuwait has done little to diversify its economy due to positive fiscal situation.

3 – Singapore - $82,763 GDP (PPP) per capita

Singapore ranked 5th richest nation

This tiny city-state has moved up from 5th position to take 3rd with per capita income (PPP) of $82,763, which is five times the average per capita income for an ordinary individual in the world. The basis of Singapore's wealth is its financial services sector, a chemical export industry, and its liberal economic policies that encourage growth and innovation. Singapore has the second busiest port in the world, exporting $414 billion of goods in 2011 alone.

2 – Luxembourg - $97,662 GDP (PPP) per capita

Luxembourg ranked 2nd richest nation

A symbol of wealth, number two on the list has a per capita GDP (PPP) of $97,662, which is nine times the world average. The backbone of this strong economy is its vibrant financial sector, prudent fiscal policies, and dynamic industrial and steel sectors. Banking in Luxembourg is the largest sector of its economy with an asset base of over $1.24 trillion alone.

1 – Qatar - $140,649 GDP (PPP) per capita

Quatar ranked 1st richest nation

Qatar ranks number one on the list of the top 10 richest nations because of its high GDP (PPP) per capita of $140,649. Qatar has a well-developed oil exploration industry where the petroleum industry accounts for 70% of its government revenue, 60% of its GDP and 85% of its export earnings. Because of its wealth and economic success, it has been chosen as the host of the 2022 FIFA World Cup, the first Arab nation to ever hold this role. However, Qatar is also the most conterversial country on the list for its use of forced labour from nations throughout Asia and parts of Africa.

The 25 Richest Countries In The World Based On Purchasing Power Parity Of GDP Per Capita

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RankCountryGDP per capita (PPP)
1Qatar140,649
2Luxembourg98,460
3Singapore82,763
4Kuwait73,246
5Brunei Darussalam71,185
6United Arab Emirates67,674
7Norway65,614
8Switzerland59,540
9United States54,629
10Saudi Arabia52,010
11Ireland49,393
12Netherlands48,253
13Austria47,682
14Germany46,401
15Australia45,925
16Denmark45,537
17Bahrain45,500
18Sweden45,297
19Canada45,066
20Iceland43,993
21Belgium43,435
22Finland40,676
23United Kingdom40,233
24France39,328
25Oman38,631

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