There are 197 countries in the world today! The total comprises 193 countries that are member states of the United Nations. The Holy See and the State of Palestine two are the non-member observer states. Did you know which are the Top 10 richest countries of the world?
First of all, we need to think about what makes a country a wealthy or a rich country. There is plenty of indexes to measure the best country or a rich country. Does it’s upon GDP(Gross Domestic Product) of a country?, Education level of a country?, GINI index of a country?, or GDP per capita of a country? In my opinion is the GDP per capita of a country that makes a country wealthier.
What is GDP Per Capita?
GDP per capita means it shows a country’s Gross Domestic Product divided by its total population.
Does GDP per capita indicate that the country is the best place to live?
The answer is real GDP per capita – it’s not perfect to measure the best countries but would be the best single measure of the average standard of living in a country. Countries that have a higher level of GDP per capita also have a higher life expectancy. In general, as per capita increases so does human development.
So these are the top 10 wealthiest countries of the world
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10. Australia
Australia is considered one of the largest countries in the world. It’s located between the Pacific Ocean and the Indian Ocean. According to the United Nations, Australia is the second-best country in the world to live, because of its excellent quality of life index and other major indexes.
In the US dollar, the per capita income of Australia is $53,879.
Among 10 countries by highest per capita income Australia ranked 10th of our list among the 197 countries in the world. The GDP(Gross Domestic Product) of Australia is $1,420,045 million.
Per capita income:- $53,879
Currency :- Australian Dollar
Australia is on 10th number in Top 10 Richest Countries of The World.
09. Denmark
Denmark is located in Northern Europe. Denmark consists of the Jutland peninsula and several islands in the Baltic sea. The economy of Denmark is based on service industries, trade, and manufacturing, and so on.
Only a tiny percentage of the population is engaged in agriculture and fishing. In the US dollar, the per capita income of Denmark is $59,795. So Denmark is ranked 9th on our list of richest countries in the world. The GDP of Denmark is $35,567.53 crores USD.
Per capita income:- $59,795
Currency :- Danish krone
Denmark is on 9th number in Top 10 Richest Countries of The World.
08. Singapore
Singapore, officially the Republic of Singapore, is located in maritime Southeast Asia between Malaysia and Indonesia. Singapore is a very compact and small country Singapore has a total land area of 724.2 square kilometers (279.6 sq mi).
In the US dollar, the per capita income of Singapore is $63,987. So Singapore is ranked at 8th on our list. In the Ease of doing business index, Singapore ranked second among all developed countries.
The Singapore economy is mainly coming by exports in electronics manufacturing and machinery, financial services, tourism, and the also from world’s busiest cargo seaport.
Per capita income:- $63,987
Currency :- Singapore Dollar
07. United States
The United States of America is the world’s third-largest country in size and the third-largest in terms of population. It’s located in North America.
The United States’ economy is considered as a powerful most technologically economy in the world, and its firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment.
The per capita income of the United States is $65,112. The GDP of the US is $21.44 trillion US dollars. Among 10 countries by highest per capita income, The United States ranked 7th of our list among the 197 countries in the world.
Per capita income:- $65,112
Currency :- US Dollar
USA is on 7th number in Top 10 Richest Countries of The World.
06. Iceland
Iceland is an island (Nordic island) nation, located in the North Atlantic Ocean. More than 2millon people visit Iceland every year. The best source of income is tourism.
Iceland is ranked 7th from the 10th country of our list. In the US dollar, the per capita income of Iceland is $67,037 per annum. The GDP of Iceland is $2,587.85 crores USD.
Per capita income:- $67,037
Currency :- Icelandic króna
05. Qatar
Qatar is an Asian country located in Western Asia. Qatar’s per capita GDP is $69,688 according to the USD International Monetary Fund. The GDP of Qatar is $ 19,136.21 crores USD .
Having the world’s third-largest natural-gas and oil reserves, it’s in the top richest countries in the world And ranked 5th in our list of the richest country in the world.
Per capita income:- $69,688
Currency :- Qatari Riyal
04. Ireland
The fourth richest country of the list is Ireland (The Republic of Ireland). The Republic of Ireland is a Northern European country. In the US dollar, the per capita income of Ireland is $77,771. The main source of income is tourism. The GDP of Norway is $38,248.75 crores USD.
Per capita income:- $77,771
Currency:- Euro
03. Norway
The third richest country in the list is Norway(Kingdom of Norway). Norway is located in Northern Europe. Norway(Kingdom of norway) has a land border with Russia. In the US dollar, the per capita income of Norway is $78330. The GDP of Norway is $43,416.66 crores USD .
Norway’s economy based on oil and gas production account for 20 percent of its economy. Other important sectors include hydropower, fish, forests.
Per capita income:- $78330
Currency of Norway:- Norwegian krone
Norway is on 3rd number in Top 10 Richest Countries of The World.
02. Switzerland
The second richest country on the list is Switzerland. It’s known as Heaven of the Earth. Switzerland located in central Europe and possesses borders with Germany and Austria. In the US dollar, the per capita income of Singapore is $86,674. The GDP of Switzerland is $36,415.67 crores USD.
Regarding the economy The service sector has come to play a significant economic role, the Swiss banking industry and also tourism plays a vital part in the economic system.
Per capita income:- $86,674
Currency:- Swiss franc
Switzerland is on 2nd number in Top 10 Richest Countries of The World.
01. Luxembourg
The number one richest country of the list is Luxembourg. The Grand Duchy of Luxembourg is located in Western Europe and surrounded by Belgium, France, and Germany.. In the US dollar, the per capita income of Luxembourg is $116,727. The GDP of Luxembourg is $7,088.53 crores USD.
Per capita income:- $116,727
Currency:- Euro
Luxembourg is on 1st number in Top 10 Richest Countries of The World.
These are the list of Top 10 Richest Countries of The World – 2020.
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