When wealth is generated at the global level, a huge part of it is centered among the richest people in the richest countries.
GDP may be the official method for measuring the size of a selective country or region’s economy. Still, it does not consider all of the wealth generated by that country. A more specific indicator of a country’s economic output is its gross national income or GNI. This pattern captures all economic activity within a nation’s boundaries in addition to the wealth generated by nationally-owned entities working in other countries.
The 10 richest countries in the world tend to have complicated and different economies. Many of these nations export goods and services from a variety of industries such as pharmaceuticals, biotechnology, and aerospace.
- GNI per capita: $116,799
- GDP: $308.6 billion (51st out of 196 countries)
- Population: 2.6 million
- Life expectancy at birth: 78.3 years
Qatar is notably the richest country in the world, with a GNI per capita of $116,799 — more than $20,000 higher than any other country. The country has more in oil reserves than all but two other countries globally– equivalent to 13% of the global supply.
- Macao SAR, China
- GNI per capita: $95,304
- GDP: $65.3 billion (98th out of 196 countries)
- Population: 0.6 million
- Life expectancy at birth: 84.0 years
Macao is another unique administrative region of China, meaning it is not fully independent, as China manages foreign affairs and defense. Macao has become one of the world’s top gaming destinations, and the sector has pumped billions of dollars into the economy of this comparatively small region.
- GNI per capita: $82,503
- GDP: $480.0 billion (39th out of 196 countries)
- Population: 5.6 million
- Life expectancy at birth: 82.9 years
Lying on the southern edge of Malaysia, Singapore is an essential shipping point, combining much of mainland Asia to the remaining world. Singapore’s economy, which has a GNI per capita of $82,503, is one of the most business-friendly in the world due in part to a lack of unwieldy regulations.
- GNI per capita: $76,427
- GDP: $30.8 billion (125th out of 196 countries)
- Population: 428,697
- Life expectancy at birth: 77.4 years
Petroleum estimated for more than 90% of Brunei’s exports. As an outcome of its wealth of valuable resources, the comparatively small Southeast Asian country has become one of the world’s richest, with a GNI per capita over $76,000.
- GNI per capita: $72,872
- GDP: $271.1 billion (57th out of 196 countries)
- Population: 4.1 million
- Life expectancy at birth: 74.8 years
Kuwait is one of just five countries with a GNI per capita over $70,000. Unlike most other nations that rank among the richest in the world, Kuwait does not have a diverse economy.
- GNI per capita: $68,113
- GDP: $3.3 billion (169th out of 196 countries)
- Population: 65,441
- Life expectancy at birth: 81.4 years
The island country of Bermuda is by far the least populated country to rank among the richest in the world, with a population of less than 66,000. Bermuda’s exports are worth very less. The nation ranks among the wealthiest mainly because of international businesses, like insurance and financial services companies that run in the country.
- United Arab Emirates
- GNI per capita: $67,758
- GDP: $632.6 billion (31st out of 196 countries)
- Population: 9.4 million
- Life expectancy at birth: 77.4 years
Almost half of all exports from the United Arab Emirates are kinds of petroleum — crude, refined, or gas. The nation’s exports also incorporate precious metals and minerals like gold and diamonds. These high-priced exports have assisted the UAE in becoming one of the wealthiest countries in the world, with a GNI per capita of $67,758.
- GNI per capita: $67,529
- GDP: $342.8 billion (48th out of 196 countries)
- Population: 5.3 million
- Life expectancy at birth: 82.5 years
Even being one of the smaller nations in the world with a populace of 5.3 million, Norway has one of the larger economies, with a GDP of $342.8 billion. Since the exploration of offshore oil and gas in the 1960s, Norway has become a petroleum-producing powerhouse.
- GNI per capita: $65,101
- GDP: $55.5 billion (104th out of 196 countries)
- Population: 596,336
- Life expectancy at birth: 82.7 years
Luxembourg is one of the smallest nations in the world, both in terms of landmass and population, with less than 600,000 people. With a GDP of $55.5 billion, Luxembourg’s GNI per capita is one of the greatest in the world at $65,101. Most of the nation’s exports are machinery, iron, and plastics.
- Hong Kong
- GNI per capita: $58,420
- GDP: $414.3 billion (43rd out of 196 countries)
- Population: 7.4 million
- Life expectancy at birth: 84.7 years
Hong Kong is not a completely sovereign nation, but preferably a unique administrative district of China. But it has its robust economy with a GDP of $414.3 billion and a GNI per capita of $58,420 per person. In extension to being one of the richest countries in the world, Hong Kong is also one of the healthiest.
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