The 25 richest countries in the world (GDP and GDP per capita)

Although the fact that a country has money does not imply that it is managed correctly or directed to the well-being of its citizens, the economic capacity of a country is an important element in allowing the creation, maintenance and management of the different goods.

The services and infrastructures that each country enjoys or could enjoy was created after an arduous process of research and development. Multiple investigations have been carried out in order to assess which countries have the highest quality of life, taking into account, among other aspects, economic capacity.

In relation to this last aspect, the twenty-five richest countries in the world will be presented below.

Wealth… what is it?

The term wealth refers to a concept that can be very broad. When we talk about the level of wealth of a person or country, we can be referring to a large number of things.

Their culture, language, spirituality, ability to bond with others, acceptance and tolerance, level of well-being and happiness... However, in everyday language

 When we talk about the level of wealth of a country we refer to the economic sphere, to the abundance of money, property, assets and / or possessions.

When comparing the level of wealth of different countries, groups or individuals, in addition to the above, the choice of the scale to be used to carry out said comparison comes into play. And it is that the level of economic wealth can be valued in aspects as the total amount of capital available in each element that is being comparing, take into account their capacity, population and size when making such a comparison or comparing the standard of living of their populations.

Below we present first the list of the twenty-five richest countries in the world according to nominal GDP, and then a second list with GDP per capita.

The 25 richest countries according to nominal GDP

In terms of total amounts of wealth (that is, the amount of Gross Domestic Product or nominal GDP), regardless of how it is distributed, the size and population of the country and the level of well-being of the population, the Fund International Monetary reflects that during the year 2016 the 25 richest countries have been the following (values ​​registered in USD or American dollars).

1. USA

Considered the greatest power in the world, The United States has a GDP of 18,561,934 million dollars.

However, it is also true that this is a country of great inequalities. In areas of the interior, such as Detroit, poverty wreaks havoc.

2. China

Also known as the sleeping tiger due to its enormous economic potential, China is in second position with a GDP of 11,391,619 million dollars.

3. Japan

The country of the rising sun is in third position in terms of wealth according to GDP, with approximately $ 4.730.3 billion.

4. Germany

One of the main economic engines of Europe, Germany has a GDP of $ 3,494,898 million, which has earned him the fourth position in the ranking.

5. UK

The United Kingdom is in fifth position with 2,649,893 million dollars. On the other hand, this situation may change with the exit from the European Union.

6. France

The Gallic country has a gross domestic product of 2,499,284 million dollars, being the sixth richest country in the world in this sense.

7. India

One of the powers with the highest rate of economic growth, India's GDP in 2016 reached 2,250,987 million dollars, being the seventh richest power today. Elements that play against its economic growth are the environmental crises and the armed confrontations with Pakistan and with guerrillas.

8. Italy

Despite the effects of the crisis, Italy is in eighth position in terms of wealth level according to GDP, with around 1,852,499 million dollars. It must be taken into account that this country presents a pronounced inequality between the north and the south, being the first region richest.

9. Brazil

This beautiful country is in ninth position in terms of wealth, with a GDP of 1,769,601 million dollars. But there are also areas totally isolated from public services that are considered minimal, and large pockets of poverty both in favela neighborhoods and in towns.

10. Canada

A GDP of 1,532,343 million dollars it is what has earned Canada the tenth position on this list. In addition, it has excellent public services.

11. South Korea

Despite its complicated situation with respect to North Korea, South Korea has been during 2016 the eleventh richest country in the world according to the International Monetary Fund, with 1,404,383 million dollars. As negative points we must point out the extreme competitiveness that exists in its business culture, which leads many people to suicide.

12. Russia

Another major superpower, Russia is in twelfth position with a GDP of 1,267,754 million dollars. However, the wealth is concentrated in some large cities, especially in Moscow.

13. Australia

During 2016, Australia ranked thirteenth in terms of GDP, with 1,256,640 million dollars in its coffers.

14. Spain

Despite the effects of the economic crisis and the political imbalance, our country is in fourteenth position in terms of GDP, with around 1,252,163 million dollars.

15. Mexico

The Mexican country is in fifteenth position with a GDP of 1,063,606 million dollars.

16. Indonesia

Indonesia, with 940,953 million dollars in GDP, stands in sixteenth position.

17. Netherlands

The Netherlands has had a GDP of 769.93 billion dollars, being the seventeenth richest country according to the International Monetary Fund.

18. Turkey

With $ 735,716 million, Turkey has been during 2016 the eighteenth richest country-

19. Swiss

Switzerland has a GDP of 662,483 million dollars, which in amount of money in circulation is the position number nineteen.

20. Saudi Arabia

Saudi Arabia records in 2016 a GDP of $ 637,785 million, which is the twentieth position in the ranking.

21. Argentina

The twenty-first position in regards to the twenty-five richest countries is for Argentina, with a GDP of $ 541,748 million.

22. Taiwan

Taiwan ranks twenty-second with a GDP of $ 519,149 million.

23. Sweden

A GDP of $ 517,440 million This is what has made Sweden the 23rd richest country in the world in 2016.

24. Belgium

Belgium is the 24th richest country in the world, with a GDP of $ 470,179 million.

25. Poland

The 25th place is taken by the Polish country, with a GDP of $ 467.35 billion.

The 25 richest countries in the world according to their GDP per capita

As we have said, the wealth and well-being of a country can be calculated in multiple ways.

The previous list reflected the twenty-five richest countries based on nominal GDP, that is, the amount of money the country has without taking other factors into account. The amount of raw money the country has is important, but if only that factor, the information obtained is biased and limited, not knowing the real capacity of the population in general.

To solve this problem we can apply the GDP per capita, that is, the relationship between GDP and number of inhabitants that allows us to make a average of what a citizen receives per year of the gross domestic product, which allows us to have a better idea of ​​the standard of living of the population in general. Let's see below the twenty-five countries with the highest GDP per capita

1. Qatar

Qatar is the country with the highest per capita income, with $ 137,162 per year per citizen.

2. Luxembourg

Luxembourg is the European country with the highest per capita income, being the second worldwide, with a number of $ 97,639 per year.

3. Singapore

With a GDP per capita of $ 83,066 per year, Singapore is in third position. This city-state located in the south of Malaysia bases its economy on exports, oil and as a financial center.

4. Brunei

The state of Brunei, on the island of Borneo, is the fourth country with the highest per capita income in the world, with $ 79,890 per year.

5. Kuwait

The fifth position in this ranking of the countries with the highest GDP per capita is for Kuwait, with an approximate amount of $ 70,686 per year.

6. Norway

With $ 67,166 a year, the GDP per capita of Norway makes this country the sixth with the highest wealth per inhabitant.

7. United Arab Emirates

The United Arab Emirates have a GDP per capita that places them in seventh position, with $ 66,347 per year per capita.

8. San Marino

The Serene Republic of San Marino, located within Italy, is another of the regions with the highest per capita income in the world, with $ 60,887 per year.

9. Swiss

Switzerland is one of the countries that, having one of the largest GDP in the world, also has it better distributed, with a GDP per capita of $ 58,149 per year.

10. Hong Kong

Hong Kong ranks 10th as one of the countries with the highest per capita income in the world, with a number of $ 55,097 annually.

11. USA

The power with the highest GDP in the world is one of those that also has the highest GDP per capita, this being $ 54,370 per year.

12. Saudi Arabia

The per capita income of Saudi Arabia is $ 52,311 a year, being the eleventh power worldwide.

13. Ireland

Ireland has a GDP per capita of $ 51,284 annually, being another of the countries with the highest wealth parity.

14. Bahrain

The Kingdom of Bahrain, on the coast of the Persian Gulf, ranks 14th on this list with a per capita income of $ 49,020 per year.

15. Netherlands

The Netherlands, and specifically the Netherlands, is another of the countries that coincide in having one of the highest nominal GDP at the same time as having the highest GDP per capita, with $ 47,960 per year in this second aspect.

16. Austria

With a GDP per capita of $ 46,550 per yearAustria is another of the countries with the highest wealth parity, being in sixteenth position.

17. Australia

With a GDP that placed it thirteenth among the richest countries in the world last year, Australia is ranks seventeen in terms of the distribution of said wealth, with a GDP per capita from $ 46,550 annually.

18. Sweden

This country is also one of the countries that, having greater wealth, is better distributed, with a GDP per capita of $ 46,219 per year.

19. Germany

Europe's economic engine ranks nineteenth in per capita income, with $ 46,216 per year.

20. Taiwan

Taiwan's gross domestic product at per capita purchasing power parity values ​​is $ 46,036 annually, which places this region in twentieth position.

21. Canada

With a GDP per capita of $ 45,723 annually, Canada ranks twenty-first.

22. Denmark

Denmark is another of the countries with the highest per capita income in the world, with $ 45,451 per year.

23. Iceland

Iceland has a GDP per capita of 45,269, which makes it the twenty-third country with the highest level of wealth in the population.

24. Belgium

The citizens of Belgium have a GDP per capita of $ 43,800 annually.

25. France

In 25th place, France has a per capita income of $ 41,018 annuallys.

Bibliographic references:

• International Monetary Fund (2018). "Report for Selected Countries and Subjects".