As regards our list of Top 10 Richest Countries in the World (2020), various countries’ current GDP standards have been compared with the figures collated for the previous year and finally. According to the reports generated by the IMF (International Monetary Fund), many countries have been evaluated based on the nominal values of their GDP per capita –which is regarded as an essential yardstick in measuring national wealth.
We present you an accurate list of the Top 10 World Richest Countries for 202.
TOP 10 RICHEST COUNTRIES IN THE WORLD 2020
|Rank||Richest Countries||Continent||GDP Per Capita (PPP)|
|7.||United Arab Emirates||Asia||69,382|
|10.||United States||North America||62,606|
|–||Puerto Rico||North America||39,737|
|40.||The Bahamas||North America||33,494|
|41.||Trinidad and Tobago||North America||32,254|
|48.||Saint Kitts and Nevis||North America||29,820|
|51.||Antigua and Barbuda||North America||27,981|
|72.||Dominican Republic||North America||18,424|
|87.||Saint Lucia||North America||14,355|
|90.||Bosnia And Herzegovina||Europe||13,491|
|99.||Saint Vincent And The Grenadines||North America||11,956|
Details on the top 10 world richest countries.
Qatar is one of the world’s Arab countries and a peninsula territory that spans across deserts. Likewise, Qatar is endowed with a protracted Persian Gulf shoreline of shores and drifted sands. Situated along the coastal region of Qatar is Doha –also regarded as the country’s capital. Doha commands great fame majorly for its exquisite modern architectural structures designed with antiquated Islamic patterns, a good instance of this being the Museum of Islamic Art –an architectural structure designed with limestone.
Based on the population estimates recorded in 2013, Qatar had a total of 2.169 million people as its overall population. Also in 2013, the country’s GDP level was estimated at $203.2 billion.
The largest portion of Qatar’s economic returns comes from natural resources such as gas and petroleum. Meanwhile, these resources make up over 70% of the entire revenue generated by the Qatari government. With petroleum and gas regarded as the mainstay of its economic returns, Qatar’s GDP per capita (PPP) is currently valued at $139,475, making Qatar the richest country in the world.
Luxembourg is one of the countries found on the European continent. It has a small land mass flanked by other European countries like Germany, France, and Belgium. In the Mullerthal portion of its Eastern region, Luxembourg has a vast deposit of rocky gorges. Regarded as a country with a large expanse of rural areas, Luxembourg has a variety of nature parks found together with the thick Ardennes forest in the Northern region. In its South-Eastern region, Luxembourg houses the Moselle River valley.
In 2013, a total of 543, 202 people were recorded as Luxembourg’s overall population. Meanwhile, Luxembourg City –which is well-known for its reinforced ancient town –is considered the country’s capital. Also in the year 2013, Luxembourg was associated with the overall GDP of $60.13 billion. And about two years back –precisely in 2015 –the country’s unemployment rate was estimated at 5.7%.
In Luxembourg, economic sustenance is majorly dependent on various sectors including industry, steel, and banking. According to the tourist aspect of literature, Luxembourg is suitably regarded as “Green Heart of Literature’’. In this regard, Luxembourg is endowed with a rustic land area surrounded by an export-intensive and industrialized region.
At the moment, Luxembourg is the world’s second-richest country and this estimate is based on its massive GDP per capita (PPP) valued at $106,705.
Singapore is situated in the Southern region of Malaysia. It is a beautiful territory surrounded by water. Singapore is characterized by diverse cultures as well as tropical atmospheric conditions. In reality, Singapore is one of the global countries which attracts foreigners for financial purposes.
Based on the population estimates collated in 2013, Singapore had a total of 5.399 million people as its overall population while its GPD (in the same year) was valued at $297.9 billion. Significantly, one of the desirable features of Singapore is its low incidence of corruption which makes the country one of the most visited centres for financial activities.
In the aspect of the economy, Singapore maintains a socialist economy with a level-headed and organized trade system. Across the world, Singapore’s socialist economy is regarded as the most open economic system with zero tolerance for corruption and a low level of taxation. Likewise in the world, Singapore is considered the third-largest economy –precisely in terms of per-capita GDP. As it stands, Singapore maintains its steady economic standards with the GDP per capita (PPP) of $100,345.
4. Brunei – $79,530
Also regarded as the Republic of Ireland, this country largely covers the major part of the island of Ireland and away from the coastal region of Wales and England. Ireland is the home of several great places with Dublin being the capital city as well as the place into which Oscar Wilde –a globally-acclaimed writer –was born.
The Republic of Ireland is popularly nicknamed the “Emerald Isle’’ particularly for some of its awesome natural features like its luxuriant terrain. Over and above that, Ireland is characterized by beautiful fortified residences such as the ancient Cahir Castle.
Based on the population estimates gathered in 2013, Ireland had a total of 4.595 million people as its overall population. Likewise, the country’s Gross National Income (as regards PPP) is estimated at $180.4 billion while the overall GDP is declared to be worth $232.1 billion.
Ireland maintains a modernized economic system with concentration on investment, industry, trade and top technology-oriented industries. Within a period of 12 years (1995-2007), Ireland recorded its highest level of economic growth. Meanwhile, this gave the country a significant edge over other European economies and resulted in the interesting name –Celtic Tiger –it was dubbed. At the moment, Ireland’s GDP per capita (PPP) swirls around $78,785 making them the richest.
Norway is one of the countries associated with Scandinavian descents. The country is surrounded by natural features such as coastal fjords, glaciers and high mountains.
Oslo –being Norway’s major city –conserved Viking ships of the ninth century. Likewise, the city is considered the home of beautiful museums and a vast number of green pastures. Besides the capital city (Oslo), Bergen is another prominent Norwegian city and it is widely cherished for its sphere of activities such as skiing, hiking, and fishing. Likewise, it serves as the starting point for voyages.
In accordance with the population estimates collated in 2013, Norway was declared with a total of 5.084 million people as its overall population. Also in 2013, Norway was associated with a massive sum of $512.6 billion as its GDP. A period of two years back, precisely in 2015, Norway was declared as having a very low rate of unemployment estimated at 4.1%.
As one of the world’s highly-developed countries which practice mixed economic systems, some planned aspects of the Norwegian economy are owned and controlled by the government. On a remarkable note, Norway’s economy has constantly maintained a substantial growth rate beginning from the inception of industrialization. Currently, Norway marks one of the world’s leading economies with a robust sum of $74,356 as its GDP per capita (PPP).
7. The United Arab Emirates – 69,382
8. Kuwait – 67,000
Switzerland is situated in the central region of Europe and its land is rich in mountains. Likewise, the country houses a range of high mountains (well known as The Alps) together with many lakes and rural areas. It also has urban areas among which are ancient residential quarters characterized by landmarks. Examples of these are the wooden chapel bridge in Lucerne and the Zytglogge clock tower in Capital Bern.
Switzerland is one of the most successful global countries and its enormous GDP level can be attributed to its two major industries –financial and banking sectors. Across the world, Switzerland is greatly admired for some of its lovely products such as chocolate and watches. As regards the population estimates recorded in 2013, about 8.081 million people made up the overall population of Switzerland. Also in 2013, Switzerland was associated with a total of $685.4 billion as its overall GDP.
For years, the Swiss economy has maintained impressive stability and this makes Switzerland one of the best global economies. Numerous foreign investors have found Switzerland as the best avenue for them to expand their investment dealings and this obviously results from the system of political stability practiced (alongside long-term monetary security) by the Swiss government.
In Switzerland, trade and industry are considered the vital reasons behind economic sustenance. Meanwhile, this is due to an intense concentration on the labour sector and the country’s small landmass. For the year 2017, Switzerland is associated with the GDP per capita (PPP) of $64,649.
10. United States
The United States of America is arguably the world’s most powerful nation. It is one of the most populous global countries and under its control is a significant number of 50 states. As a populous country with an enormous landmass, the United States accounts for a substantial portion of the North American continent. With Washington DC regarded as its capital state, America has other prominent states such as Hawaii (which meanders very close to the Pacific Ocean) and Alaska which is located in the country’s North West.
Another prominent American state is New York –a global hub for financial and cultural activities. Meanwhile, New York is also considered the chief Atlantic Coast City of the United States of America.
In the Mid Western region of the United States is Chicago –a metropolitan centre greatly admired for its impressive architecture that inspires global interest. As regards the population estimates for 2013, a total of 316.5 million was recorded as the overall population of the United States of America. At the same time, the country is associated with a mouthwatering sum of 16.99 trillion as its GNI (Gross National Income) as well as a GDP of 16.77 trillion.
In the aspect of the nominal national economy, the United States of America is the world’s leading country but as regards PPP (Purchasing Power Parity) in the world, the US claims the second spot.
In addition, the United States of America perfectly fits into the category of global largest trade centres and this achievement results from the fact that it has an enormous productivity level coupled with sophisticated infrastructure and substantial natural endowments. At the moment, the United States of America boasts of a GDP per capita (PPP) valued at $62,606.
Iceland is best known for its interesting natural features such as lava fields, volcanoes, hot springs, and geysers. In accordance with the population figures gathered in 2013, Iceland had a total of 323, 002 people as its overall population. Also in 2015, the country was declared a 4.3 percent rate of unemployment. As recorded in 2011, Iceland had a total of $12.3 billion as its overall GDP.
In Iceland, the economic system is practiced in a small magnitude and as largely observed, it is vulnerable to a high incidence of changes. Meanwhile, the country maintains a mixed economic system that gives room for state intervention and increased levels of free trade. Currently, Iceland’s GDP per capita (PPP) is estimated at $55.917.
Besides being called a country, Australia is one of the seven global continents. Its territory is flanked by the duo of Pacific and Indian oceans while Canberra inland is well known as the national capital. Besides Canberra inland, Australia is beautified with prominent areas like Adelaide, Perth, Melbourne, Brisbane, and Sydney. But above all this, the actual features which earn Australia its global recognition are its rare animal species (such as kangaroos), a large desert known as Outback, the Great Barrier Reef and the Opera House (based in Sydney).
As contained in the population estimates for 2013, Australia had a total of 23.13 million people making up its overall population while the country’s GDP was estimated at $1.56 trillion.
Across the globe, Australia is one of the countries with the biggest mixed market economic systems. At the same time, the Australian economy is largely focused on the service sector and this sector accounts for 68% of the country’s overall GDP. As it stands, Australia’s GDP per capita (PPP) is estimated at $52,373.
Like Norway, Denmark is another country of Scandinavian descent. As part of its natural features, Denmark houses lots of islands and the well-known Jutland Peninsula. Also, the country comprises the Oresund bridge which draws its territory a little close to neigbouring Sweden.
Denmark is the home of various tourist attractions the best part of which may be found in the capital city –Copenhagen. In Copenhagen, tourists visit attractive centres like a significant statue (portraying the “Little Mermaid’’), the beautiful amusement park in Tivoli, and the charming Nyhavn harbor.
In 2013, the collated population estimates revealed that a total of 5.614 million people made up Denmark’s population. Also in the same year, Denmark’s overall GDP was estimated at $335.9 billion.
In 2015, Denmark had a low rate of unemployment estimated at 6.3%. As regards the economy, Denmark maintains a varied and mixed economic system through which the country majorly depends on human potentials. Although the mainstay of Denmark’s economic sustenance is heavily founded on human potentials, the country has some considerable amount of prestigious natural resources among which are the highly-developed gas and oil wells around the North Sea.
Through its market economy, Denmark has attained tremendous standards which can be largely observed from the country’s wide-ranging strategies for public welfare, its corporate industry, modernized small-scale enterprises, highly-mechanized farming, high reliance on international trade and sustainable standards of living. At the moment, Denmark’s GDP per capita (PPP) $52,121.
That’s all on the Top 10 Richest Countries in The World 2020, share your thoughts and suggestions with us through the comment box.
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