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The list of per capita GDP comes from data provided by the International Monetary Fund (IMF).
Luxembourg is the world’s richest country with a GDP of $ 91.21 billion. (Shutterstock)
When we think of the world’s richest countries, we can immediately think of big countries like America, Russia or China. But you may be surprised to know that the richest countries are actually the youngest on the map. According to Forbes India, this list comes from data provided by GDP per capita, International Monetary Fund (IMF).
Before we list the richest countries, it is important to understand what GDP is. GDP means GDP that measures the total value of all goods and services produced in a country. To understand how rich people are rich in a country, we divide the country’s gross domestic product about how many people live there, which gives an idea of the wealth of the common population.
But to get a clear picture of the real property of a country, we also need to consider how many things spent in that country and how inflation affects prices. This is where the purchase power equality (PPP) comes. PPP takes into account the cost of life and inflation rates that helps us compare more accurately among countries.
Luxembourg
Luxembourg is the world’s richest country with a GDP of $ 91.21 billion. With a population of just 6,75,000, PPP -based world’s GDP share is only 0.05%. The country is famous for its better standard of living, healthcare and education. It is one of the top tourist destinations in the world, which is famous for its delightful palace, abundant greenery and picturesque canals.
Singapore
The next Singapore in the list is an island country, with a GDP of $ 530.71 billion and a population of 5.8 million. With the stake of the world’s GDP (PPP), the country is 0.45%, one of the world’s largest trading hubs.
Macao
Macao is a special administrative region in China, which has a GDP of $ 53.45 billion. It is 0.05% of the world’s GDP (PPP). The region is known for its casinos and tourism that makes it one of the world’s top travel sites.
Ireland
Ireland ranks fourth with GDP, which is $ 560.57 billion. The country has 0.35% of the world’s GDP (PPP). Many big companies like Apple, Google and Microsoft contribute more than 50% to Ireland’s economy every year.
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Qatar’s GDP supports a population of 3.07 million population of $ 221.41 billion. The country’s share of the world’s GDP (PPP) is 0.18%. The huge reserves of oil and natural gas make Qatar one of the world’s wealthiest countries.
Norway
Norway is one of the leading oil producers in Western Europe. According to the IMF, the country’s GDP has a population of $ 503.75 billion and 5.51 million. It also has a huge sovereign money fund of $ 1.3 trillion, which is the largest of its kind in the world, which helps it to handle any future crisis.
Switzerland
Switzerland is famous for tourism and a strong financial sector, with a GDP of $ 942.27 billion and a population of 8.9 million. The country benefits from exporting valuable goods such as metals, machinery and medical devices. It also has the lowest VAT (value -added tax) rate in Europe.
Brunei Darussalam
Brunei Darussalam has a GDP of $ 15.71 billion and 0.02% of the world’s GDP based on PPP. The wealth of the country is mainly inspired by its huge oil and natural gas reserves. It is one of the longest living and wealthy emperors by Sultan Hasanal Bolkia.
Guyana
Guyana’s economic growth rose away from its coast after the discovery of more than 11 billion barrels in 2017, the largest addition to global oil reserves since the 1970s. With a population of 831,000, Guyana’s GDP is $ 123 billion and the world’s GDP based on PPP is 0.04%.
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With a population of 335 million, the US has a GDP of $ 29.17 trillion and 14.84% of the world’s GDP based on PPP. Although it is less in GDP per capita than in small countries, the country is a major economic unit.
India ranks 124th in the rankings of GDP per capita, with nominal GDP of $ 2,940 per person per capita and $ 11,940 per person. In terms of GDP, India ranks fifth after the US, China, Germany and Japan.
