The Richest Countries in the World

This content was last updated on 29.01.2024 21:48

The richest countries in the world are always a curious subject. Gross domestic product data is taken into account when determining and listing the wealth of countries.

Gross domestic product; It is determined by the country's export revenues, economic revenues, consumption rate and the value of the goods and services produced in a year. Per capita income is obtained by dividing these values by the country's population.

So, which are the richest countries in the world in terms of gross domestic product per capita in 2022?

List of Countries by GDP Per Capita

1. Luxembourg

Luxembourg, one of the smallest countries among the member states of the European Union, is the richest country in the world. The per capita income in the country is $140,694. The fact that it is located in the middle of the European continent and is very close to countries such as France and Germany is one of the most important reasons why Luxembourg has become an economically strong country. The country where banking is developed gets the majority of its income from the financial sector. The country, which is also developed in terms of iron and steel industry, exports iron to the European Union and the United States.

2. Singapore

Singapore, an island country located in Southeast Asia, is the second richest country in the world. The per capita income in Singapore is $131,580. Being one of the most important trade centers in the world, the country stands out with its competitive economy. The competitive economic atmosphere is also free and innovative. The second important source of income in the country's economy based on trade is industry. Shipbuilding occupies the first place among the most profitable branches in this field. Oil refineries, electronics, textiles and food are the areas that follow shipbuilding.

3. Ireland

Located in Northwest Europe, the Republic of Ireland ranks 3rd among the richest countries in the world. With a GDP per capita of $124,596, Ireland's economy is largely based on the high-tech industry. The government imposes low taxes on foreign investors, making the country a European hub for foreign investors. As a result of this application, world giants such as Facebook, Google and Apple have offices in Ireland.

4. Qatar

Qatar, a Persian Gulf country, is the 4th richest country in the world. The country's official name is the State of Qatar, with a per capita gross domestic product of $112,789. The main source of the country's economy is oil and natural gas. Since it has the third largest natural gas reserves in the world, natural gas is exported to many different countries. A lot of work is being done to diversify economic incomes in Qatar. There are projects for sectors such as finance, industry and tourism to be important branches that feed the country's economy.

5. Switzerland

Located at the crossroads of Western, Central and Southern Europe, Switzerland enters the list of the world's richest countries from the 5th row. The gross domestic product per capita in the country is $84,658. The economy of Switzerland, which has experienced economic difficulties in 2020 due to the coronavirus, is based on the developed industrial sector. The leading branch in the industrial sector is the watch industry. The economy of the country, which is famous for its watches and banks, is largely fed by the service sector. Livestock and agriculture are also important sources of income in the country.

6. United Arab Emirates

Located in the southeast of the Arabian Peninsula, the United Arab Emirates is at the 6th place of our list. Oil is the country's biggest source of income, with a gross domestic product of $78,255 per capita. Natural gas also contributes significantly to economic growth. Oil refining plants have the most important place among the industrial establishments of the United Arab Emirates. The country is working to diversify the economy by developing different branches of industry with the revenues it receives from oil. Many factories dealing with cement, aluminum, cable and tile production were established within the scope of these studies.

7. Norway

Ranking 7th among the richest countries in the world, Norway is located on the Scandinavian Peninsula. With a gross domestic product of $77,808 per capita, Norway is shown as the country with the best welfare level among other European Union countries. Based on the mixed economic model, the Norwegian economy was based on fishing before the industrial revolution. After taking control of the oil reserves in the North Sea, the country's economy began to rely on oil production. Although the most important source of today's economy continues as oil production, the government is working to diversify economic incomes.

8. United States of America

The United States of America, which has the most influential financial power in the world, is the 8th richest country in the world with a gross domestic product of $76,027 per capita. America, which is a very developed country in terms of natural resources and infrastructure, is among the countries that direct world trade. America, which is also the world's largest oil and gas producer, is home to the vast majority of today's most important companies. In addition, when the market value of the New York Stock Exchange is examined, it is observed that it is the largest stock exchange in the world.

9. Brunei 

Brunei, located on the island of Borneo in Southeast Asia, ranks 9th among the richest countries in the world. The gross domestic product per capita in the country is $74,953. Sultan of Brunei Hassanal Bolkiah is one of the richest people in the world. Oil and natural gas are among the most important pillars of the country's economy. Japan ranks first among the countries where Brunei sells the most natural gas and oil. In addition to oil and natural gas, the country's economy also generates income from the timber, paper and glass industries.

10. San Marino

San Marino, one of the 5 micro-states in Europe, ranks 10th in the list of the world's richest countries with a gross domestic product of $70,139 per capita. The most important share in the economy of San Marino, which ranks 5th among the smallest countries in the world, belongs to tourism. After tourism, banking, electronics and ceramics are among the most important income sources of the country, which is visited by more than 3 million people every year. The majority of the country's population earns their living from agriculture.

11. Denmark

Located in the south of the Scandinavian countries, Denmark is the 11th richest country in the world. In the country where the gross national product per capita is 69,273 dollars, the most important denominator of the economy belongs to the service sector. Apart from public administration, education and health services, trade and transportation services are among the prominent areas in the service sector. Agriculture, animal production and extraction of natural energy resources are also some of the important areas that develop the Danish economy.

12. Netherlands

The Netherlands, the largest of the 4 countries that make up the Kingdom of the Netherlands, is the 12th richest country in the world. The gross national product per capita in the country is $68,572. The Dutch economy is fed by natural gas reserves in the country. Natural gas reserves in the Netherlands are large enough to account for 25% of all reserves in the European Union. In addition, the country, which has grown depending on foreign trade, is also home to Amsterdam Schiphol Airport, one of the largest airports in Europe.