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Home » » Top 10 Richest Countries in the World

Top 10 Richest Countries in the World

Top 10 Richest Countries in the World 
RankCountryCapitalCurrencyGDP (Per Capita $)
2LuxembourgLuxembourg CityEuro77,958
3SingaporeSingaporeSingapore Dollar60,799
4NorwayOsloNorwegian Krone54,397
5Brunei DarussalamBandar Seri BegawanBrunei Dollar54,114
6United StatesWashington D.C.US Dollar51,704
7SwitzerlandBernSwiss Franc44,864
8San MarinoCity of San MarinoEuro42,724
9CanadaOttawaCanadian Dollar42,317
10AustraliaCanberraAustralian Dollar41,954

Source : International Monetary Fund (World Economic Outlook Database-October 2013)

* Though Hong Kong would appear at seventh place on this list with a GDP of $50,936 (per capita), it has not been shown as it a special administrative region of China.

This map shows the top ten richest countries in the world calculated as per their Gross Domestic Product (GDP) divided by the mid-year or average population of each country in that year, to arrive at the GDP at Purchasing Power Parity per capita (PPP) for the year.
These estimates are made every year by international financial organizations such as the International Monetary Fund and the World Bank. While the GDP (PPP) is a good indicator of a country's wealth, calculations based on nominal GDP often tend to overlook the cost of living in each country. This list of the top ten richest countries in the world is based on the International Monetary Fund's World Economic Outlook Database October 2013, which uses the GDP per capita of each country, adjusted for cost of living and inflation rates of different countries. Smaller nations (Luxembourg and San Marino) and countries with smaller populations relative to their size (Canada and Australia), therefore, head the list.

Gross Domestic Product (GDP) is the total market value of all goods and services produced in a country in a given time period. In the rankings of the World's Top 10 Richest Countries based on GDP (PPP) per capita for the year, Qatar is placed first, with Luxembourg placed second. Qatar is an oil rich country in the Middle East with an abundance of natural resources, such as natural gas.

Luxembourg is one of the smallest countries in the world, located in northwestern Europe, whose population enjoys a high standard of living. It is also a favorite destination among European countries for political activities, thanks to its central location not far from EU headquarters. Once bolstered by the iron and steel industry, Luxembourg's economy is working to maintain its momentum by providing international banking and financial services. Among the countries on the list, three are in Asia (Qatar, Singapore, and Brunei), four are from Europe (Luxembourg, Norway, Switzerland, and San Marino), two are from North America (USA and Canada), and one is from Oceania (Australia). International financial services, tourism, petroleum and natural gas exports, electronic goods manufacturing, facilitating international trade (as in the case of Singapore) and a flourishing service sector are the keystones behind the economic success of these nations which has led to their topping the table of the richest countries in the world.
The map of Top Ten Richest Countries in the world is based on the GDP per capita of each country.
Map of top 10 richest countries in the world.
Last Updated : December 05, 2013
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