Top 10 Richest countries in the world (GDP)

1 ) Qatar :

The total GDP of Qatar is $152.5 Billion and GDP Per Capita is $124,930 (app. 90 Lakh INR) . The economy of Qatar was majorly supported by fishing and pearl hunting before the oil boom in the year 1940. At present, the economy of the company has reached where it is because of oil and gas. Qatar has been the richest country in the world since three years now .

 

More About Qatar : Qatar has an overall population of around 2,155,446 people out of which a major chunk includes expatriates, 14% are millionaires with 79 years of life expectancy rate and almost a negligible 0.4% unemployment rate. Qatar is one of the best and leading nations in the Arab region and the first country to host the FIFA world cup. 

The currency of Qatar is Qatari riyal. 1 Qatari riyal = 19 – 20 INR.

Petroleum and natural gas are the cornerstones of Qatar’s economy and account for more than 70% of total government revenue, more than 60% of gross domestic product, and roughly 85% of export earnings. Qatar has the world’s third largest proven natural gas reserve and is the second-largest exporter of natural gas.

2 ) Luxembourg :

The total GDP of Luxembourg is $59.95 Billion and the GDP Per Capita is $109,19(7.7 lakh INR). With a population of around 562,958 people, Luxembourg is a country which has an average life expectancy rate of almost 82 years.

More About Luxembourg : The unemployment rate has been an unmatched 6% as of the year 2012. This country is known as the tax haven. Banking is the largest sector of its economy which is preceded by steel, production, telecommunication, agriculture, and tourism. Luxembourg is famous for attaining the status of being an internet start-up country and a big investment hub.

The Currency of Luxembourg is EURO.

The economy of Luxembourg is largely dependent on the banking, steel, and industrial sectors. Luxembourgers enjoy the second highest per capita gross domestic product in the world (CIA 2007 est.), behind Qatar. Luxembourg is seen as a diversified industrialized nation, contrasting the oil boom in Qatar, the major monetary source of the southwest Asian state.

3 ) Singapore :

The total GDP of Singapore is $297 billion and the per capita income is $90,530 (63.5 Lakhs). Singapore is known as the go-to- place because of its successful, vibrant and towering economy. Similar to China, Singapore has been able to promote its market economy at a world-class stage.

More About Singapore : Corruption is almost none with a stable political environment. All these merits have earned Singapore the status of being no1 as far as doing business is concerned. Singapore has a population of around 5.5 million. Most people own their homes in Singapore and are also one of the best tourist destinations.

The currency of Singapore is Singapore Dollar (51 – 52 INR) .

The economy of Singapore is a highly developed free-market economy. Singapore’s economy has been ranked as the most open in the world, 7th least corrupt, most pro-business, with low tax rates (14.2% of Gross Domestic Product, GDP) and has the third highest per-capita GDP in the world in terms of Purchasing Power Parity (PPP). APEC is headquartered in Singapore.

4 ) Brunei :

The total GDP of Brunei is $26,938.50 Billion and the GDP Per Capita is $76,740. Brunei Darussalam has made it to the top ten list because of many factors. The country has a life expectancy rate of 77-78, around 3.7% unemployment rate and a population of 415,717 people.

More About Brunei : Brunei is a country with a small, wealthy economy that is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition. It is almost totally supported by exports of crude oil and natural gas, with revenues from the petroleum sector accounting for over half of GDP. Per capita GDP is high, and substantial income from overseas investment supplements income from domestic production.

Currency of Brunei is Brunei Dollar (52 – 53 INR).

The Gross Domestic Product (GDP) in Brunei was worth 12.13 billion US dollars in 2017. The GDP value of Brunei represents 0.02 percent of the world economy. GDP in Brunei averaged $5.73 Billion from 1965 until 2017, reaching an all time high of $19.05 Billion in 2012 and a record low of $0.11 Billion in 1965.

5 ) Ireland :

With a total GDP of $ 294.1 and a GDP per capita income of $ 72,630, Ireland is an Island country which is on no.5 on the list of the richest countries of the world. Ireland has a population of somewhere around 6.6 million people.

More About Ireland : The economy of Ireland is 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. In the global GDP per capita tables, Ireland ranks 5th of 187 in the IMF table and 6th of 175 in the World Bank ranking. Currency of Ireland is EURO. The Gross Domestic Product (GDP) in Ireland was worth 333.73 billion US dollars in 2017. The GDP value of Ireland represents 0.54 percent of the world economy. GDP in Ireland averaged $87.99 Billion from 1960 until 2017, reaching an all time high of $333.73 Billion in 2017 and a record low of $1.94 Billion in 1960.

6 ) Norway :

The total GDP of Norway is $370.6 billion and the total GDP per capita is $70,590. Norway is another country which is doing extremely when it comes to GDP per capita. It ranks 6th in the world and has a large capital reserve with a very high monetary value.

More about Norway : The economy of Norway is a developed mixed economy with state-ownership in strategic areas. Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. The country has a very high standard of living compared with other European countries, and a strongly integrated welfare system. Norway’s modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources, particularly North Sea oil.

Currency of Norway is Norwegian Krone (Appox. 8 INR).

Norway’s economic freedom score is 73.0, making its economy the 26th freest in the 2019 Index. Its overall score has decreased by 1.3 points, with lower scores for judicial effectiveness, trade freedom, and government spending outweighing modest improvements in monetary freedom and the tax burden. Norway is ranked 15th among 44 countries in the Europe region, and its overall score is above the regional and world averages.

7 ) Kuwait :

The GDP of Kuwait is $114 billion and the total GDP per capita is $69, 670. Kuwait has attained the status of being the seventh richest economy in the world with a population of 4.1 million people and a minimum life expectancy rate of 78 years.

More About Kuwait : Kuwait is a small petroleum-based economy. The Kuwaiti dinar is the highest-valued unit of currency in the world. Non-petroleum industries include financial services. According to the World Bank, Kuwait is the fourth richest country in the world per capita. Kuwait is the second richest GCC country per capita (after Qatar).

Kuwait Dinar is Currency of Kuwait (230.03 INR) .

The Gross Domestic Product (GDP) in Kuwait was worth 120.13 billion US dollars in 2017. The GDP value of Kuwait represents 0.19 percent of the world economy. GDP in Kuwait averaged $44.45 Billion from 1962 until 2017, reaching an all time high of $174.16 Billion in 2013 and a record low of $1.83 Billion in 1962.

8 ) UAE (United Arab Emirates) :

The GDP of UAE is $348.7 billion and the GDP per capita is $68,250. UAE is a league of seven Arabic states, Dubai being the most populous city. The economy was based on oil and gas for the longest time but now non-oil sectors like the service sector and tourism have improved generating a total of almost 71% of the GDP of this country.

More About Dubai : The economy of the United Arab Emirates is the second largest in the Middle East (after Saudi Arabia), with a gross domestic product (GDP) of $403.2 billion (AED 1.46 trillion) in 2014. The Emirates have been successfully diversifying their economy. Currency of Dubai is dirham (19-20 INR). The gross domestic product (GDP) measures of national income and output for a given country’s economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. This page provides – United Arab Emirates GDP – actual values, historical data, forecast, chart, statistics, economic calendar and news. United Arab Emirates GDP – actual data, historical chart and calendar of releases – was last updated on March of 2019.

9 ) Switzerland :

The total GDP of Switzerland is $659.8 billion and the total GDP per capita is $61,360. Switzerland is considered to be one of the most stable economies of the entire world. It has an amazingly low unemployment rate.

More About Switzerland : The economy of Switzerland is one of the world’s most advanced economies. The service sector has come to play a significant economic role, particularly the Swiss banking industry and tourism. The economy of Switzerland ranks first in the world in the 2015 Global Innovation Index and the 2017 Global Competitiveness Report. According to United Nations data for 2016, Switzerland is the third richest landlocked country in the world after Liechtenstein and Luxembourg, and together with the latter and Norway the only three countries in the world with a GDP per capita above US$70,000 that are neither island nations nor ministates. The Currency of Switzerland is Swiss franc (70 INR) .

10 ) Hong Kong :

The total GDP of Hong Kong is $320.9 billion and GDP per capita is $61,020. Hong Kong is a very business-friendly place internationally and has majorly encouraged the concept of a capitalist economy.

More About Hong Kong :  Hong Kong has come from 998 registered start-ups in 2014 to over 2800 in 2018, with eCommerce (22%), Fintech (12%), Software (12%) and Advertising (11%) companies comprising the majority. The Economic Freedom of the World Index listed Hong Kong as the number one country, with a score of 8.97, in 2015. 1 Hong Kong Dollar = Appox. 9 INR. The Gross Domestic Product (GDP) in Hong Kong was worth 341.45 billion US dollars in 2017. The GDP value of Hong Kong represents 0.55 percent of the world economy. GDP in Hong Kong averaged $103.86 Billion from 1960 until 2017, reaching an all time high of $341.45 Billion in 2017 and a record low of $1.32 Billion in 1960.

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