Wealth is measured in many ways, some see it purely as the money you have while others may look at net worth or your overall quality of life. The same goes when estimating the wealth of countries, some nations like Indonesia or china may dominate the world in the GDP but have very low wages and quality of life. Nations referenced in this article are ranked according to the Gross Domestic Product per capita and overall average wages, to lay it out a country’s wealth should be measured by the totality of all goods and services taking into account the country’s populace.
The rundown of the wealthiest countries in the world has slightly changed from a year ago because of the pandemic with some countries facing an eminent drop in their Gross domestic product per capita. Autonomous regions and principalities like Monaco and Hong Kong are not referenced in this rundown of wealthiest countries.
Here are the 15 wealthiest countries in the world
Germany has probably the biggest economy in the world with a GDP of nearly 3.8 trillion dollars.
It was ranked the third-largest exporter in the world in 2019 after china and The United States, exporting more than 1.7 trillion dollars worth of merchandise that year. Nonetheless, the country faces some demographic difficulties to its economic growth, its low fertility rate makes supplanting its aging workforce more difficult and its high levels of net immigration put strain on its social welfare system. With a populace of around 83 million its Gross domestic product per capita is about $46,000.
Finland is one of six nations in the Nordic district that rank in the top 15 Wealthiest Countries in the world with regards to GDP per capita.
The country is one of the most diverse export economies in the world. Its economy depends on metals and metal products, electronics, machinery, and scientific instruments.
Finland’s overall thriving is more uniformly distributed among its residents. With a populace of around 5.5 million its Gross domestic product per capita is around $49,000. The country also has some of the best health outcomes as measured by life expectancy, maternal mortality, and infant mortality.
Austria is a gorgeous country and tourism helps support the country’s GDP.
During the pandemic, its Gross domestic product per capita has somewhat dropped but the country encourages innovation to reinforce its economy. Very much like a few different countries that rank among the wealthiest in the world, research and development accounts represent a huge level of Austria’s Gross domestic product.
As indicated by World Bank, the Gross domestic product per capita of Austria is around $50,000. A great part of Austria’s prominence can be ascribed to its geographic position, it is at the center of European traffic.
Sweden is another Nordic country with a Gross domestic product per capita among the highest in the world.
The biggest contributors to its economy include iron and steel, precision equipment, processed food, and motor vehicles.
With a populace of 10.2 million, it boasts a Gross domestic product per capita of around $52,000. It also invests more in education as a share of its GDP than practically some other country on the planet.
The Netherlands is almost tied with Sweden with an average ranking of 12 but it goes about it differently on its way to number 11 on our list of Wealthiest Countries in the world.
It relies on agro industries, metal and engineering products, electrical machinery and equipment, chemicals, and petroleum.
With an average life expectancy of 81.6 years at birth, the Netherlands has among the best health outcomes in the world. It likewise ranks better than most countries regarding infant and maternal mortality. It has a GDP per capita of approximately $52,000.
Australia depends vigorously on exports of natural resources particularly iron ore. It is the world’s leading exporter of the mineral accounting for 52% of the world’s total supply.
The Gross domestic product per capita of the country is around $55,000 which increased during the pandemic. This general riches permits 25.4 million Australians to carry on with relatively long healthy lives.
Like other Nordic countries, Denmark additionally gets high marks around the world for its social awareness and public welfare.
The country also has an advanced economy that profits from numerous assorted enterprises like transportation equipment, pharmaceuticals, and medical equipment. The wealth in Denmark tends to be distributed relatively evenly among people with a high Gross domestic product per capita of around $60,000.
Qatar’s Gross domestic product per capita has dropped essentially this year because of the pandemic and its political stability. Nevertheless, its Gross domestic product per capita is required to rise indeed this year as the nation is reestablishing its political binds with The Emirates and Saudi Arabia.
Notable as a producer of oil and natural gas, Qatar likewise gets significant commitments to its Gross domestic product from the cement, commercial ship repair, ammonia, and fertilizer industries. Currently, the country boasts a GDP per capita of $64,000.
Singapore has a diversified economy that profits from the country’s location at the center of a major shipping route. At only 278 square miles the country is one of the smallest on the list but it’s known for a wide assortment of things from electronics, chemicals, financial services, oil drilling equipment, and petroleum refining to biomedical products.
With a Gross domestic product for every capita of $65,000, it is perhaps the most business-friendly country in the world. The country is also ranked as one of the safest countries to live in for ex-pats.
6 United States
The US fits the biggest populace on the list into the second-biggest landmass. It has a highly diversified economy with the second-largest industrial output in the world unlike nearly every other nation to rank among the wealthiest countries in the world, the united states does not rely heavily on exports.
The US Gross domestic product sits at the top of the world at 20.5 trillion dollars with average GDP per capita of $66,000 placing it at number six in the 15 Wealthiest Countries in the world in 2021.
Iceland’s Gross domestic product per capita is persistently on the rise because of its relatively low population and near-perfect rankings in water and sanitation and basic medical care.
It is additionally a world leader in access to basic knowledge and personal rights but it comes up short in access to advanced education.
The country’s exports to more conventional businesses such as fish processing, aluminum smelting, geothermal, and hydropower. Presently, the nation boasts a Gross domestic product for per capita of $66,944.
A prominent country in Scandinavia, Norway is gifted with both beauty and charm not to mention a rich economy. In spite of being one of the smallest countries in the world with a population of 5.3 million. Norway has one of the larger economies with a Gross domestic product of 342.8 billion dollars.
Norway gets its economic yield from the shipping, fishing, aquaculture food processing, and shipbuilding industries in addition to petroleum and gas.
Currently, the Gross Domestic Product per capita of the country is around $75 000. The country also has a high life expectancy of 83 years over a decade higher than the global average.
Ireland depends vigorously on exports, Ireland’s top exports are chemicals like packaged medicaments. Its exports are worth more than its Gross domestic product which is the situation in just seven different countries.
Ireland’s exports are worth nearly 20 percent more than its GDP of over 320 billion dollars.
The country also has one of the fastest-growing economies with a 7.2 percent yearly increase in its Gross Domestic Product.
With a populace of very nearly 5 million individuals, the Gross domestic product per capita of the country is roughly $79 000. It is likewise ranked high in access to basic medical care, public welfare, and personal rights.
Switzerland boasts some of the highest wages in the world putting its Gross Domestic Product per capita at
$82 000 which plays a significant part in it being the second most the second in our list of wealthiest countries in the world.
Switzerland has a fairly diverse economy, gold makes up by far the largest share of its exports, about a fourth of the country’s 285 billion dollars in exports in 2019 was in gold.
Regardless of being a relatively small country of fewer than 8.5 million people, Switzerland is one of the countries that control a huge portion of the world’s gold and it boasts some of the world’s most advanced social markers including access to government aides, social security, free media, secondary school enlistment, and greenhouse gas emissions.
With a landmass of just 998 square miles, there’s a lot of cash coasting around in Luxembourg which no doubt contributed to the country’s estimated 1.95 population growth in 2019.
Banking and financial services play a huge role in Luxembourg’s economy and it is in the number one spot of the wealthiest country in the world with a GDP per capita of $115,000.