Richest Countries In The World
Friday, Aug 14, 2020, 4:01 pm
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1.Austria
The Austrian GDP is 43,344.79 and this is mainly due to it having a very strong social market economy that it well established and managed to largely survive the economic downturn that hit the world a few years ago. It does well with trading, but there is no doubt that it will be a bit of a surprise that it does appear in this list of richest countries.
2.Canada
With a GDP of 43,593.74, Canada is the eleventh richest country in the world and it is also due to a number of minerals and natural resources that can be found in its territory. It does very well compared to its bigger and more powerful neighbor, but it is a rich country that is loved by so many and it is viewed favorably around the world.
3.Australia
Australia always ranks highly in popularity contests, but it also does quite well in the list of the richest countries in the world with a GDP of 44,073.81. This is due to a lot of minerals being mined in the country boosting its economy and increasing its ability to spend around the world. It does have a lot of other natural resources that can be exploited and the end result is the country becoming wealthier than it perhaps hoped.
4.Switzerland
Switzerland has long been seen as a tax haven and indeed a number of businesses would have their headquarters for Europe in the country thanks to the way it could save them a lot of money. There was also the fact that their bank accounts were more secret and secure than elsewhere leading to a lot of people putting their money into the country. This security has led to it becoming a rich country and a GDP of 46,474.95.
5.United Arab Emirates
With a GDP of 49,883.58 it is enough to have the United Arab Emirates in eighth place of a list of the richest countries in the world. Obviously this is entirely due to the oil and gas industry as it does sit on a huge amount of these valuable resources, but it is also an important country for trade in the middle east with so many transactions being done there and business with their headquarters there that it has to play a part in that figure.
6.United States
It may surprise some people to find that the United States is listed as only being the seventh richest country in the world, but the GDP is 51,248.21, so that does indeed place it further down than anticipated. Clearly it reaches this figure due to the power it holds in the world thanks to its economy being the biggest and the amount of trade it is involved in, but it shows that size is not always everything.
7.Hong Kong
This is a bit of a cheat as some will argue that it is just part of China whereas others will argue that it is still its own country and is, therefore, worth being included in this list. The GDP for Hong Kong is listed as being 53,432.23 and it is all due to the role it plays in trade around the world and also it is a major business hub for the far east.
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8.Brunei
Brunei is of course a Kingdom, but it is still one of the richest countries in the world with a GDP of 55,111.20. This is impressive for a country this small and with a population that would all fit inside so many US cities and still have space left, but it is all due to oil and gas in its territory, and with such a small infrastructure it does help to boost its appeal and spending power around the world.
9.Norway
The standard of living in Norway is always seen as being exceptionally high and this, in part, has contributed to it having a high GDP and making it one of the richest countries in the world. It does also have various things such as gas and coal and they do also add to it, but the result is a GDP at 56,663.47.
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10.Singapore
Singapore appears on the list due to a GDP of 61,567.28 and this is mainly due to it being a financial hub in the world as well as the role it plays in the electronics industry. It is also popular for trade with a huge port and all of this contributes to it being a wealthy country even though it is relatively small in a number of ways.
11.Luxembourg
It is perhaps not a big surprise to discover that Luxembourg comes second on the list with a GDP of 79,593.91, but it has always been seen as a rich country and for reasons that are often confusing and never that clear. However, a lot of businesses are based there due to better tax laws and that is what keeps it right up there at the top of this list.
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12.Qatar
The richest country in the world is Qatar as it has the highest GDP and it does so by a huge margin. This wealth is of course going to come from the amount of oil and gas that it has in its territory and it does mean that you can see this lasting for quite some time before their fortunes start to change. If you are interested in figures, then the last ones available showed a GDP of 105,091.42.
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