Top 10 Richest Countries In The World 2018
Top 10 Richest Countries In the World 2018 , As you’re reading this, you probably already have names popping into your head as to who will appear on the list of the richest. Let’s find out in this article, where we list the Top 10 Richest Countries In the World 2018. These are the game-
1 . Qatar – $124,930 GDP (PPP)
Top 10 Richest Countries In The World 2018 , Qatar ranks number one on the list of the top 10 richest nations because of its high GDP (PPP) per capita of $124,930. Qatar has a well-developed oil exploration industry where the petroleum industry accounts for 70% of its government revenue, 60% of its GDP and 85% of its export earnings. Because of its wealth and economic success, it has been chosen as the host of the 2022 FIFA World Cup, the first Arab nation to ever hold this role. However, Qatar is also the most controversial country on the list for its use of forced labour from nations throughout Asia and parts of Africa.
2 . Luxembourg – $109,190 GDP (PPP)
A symbol of wealth, number two on the list has a per capita GDP (PPP) of $109,190, which is nine times the world average. The backbone of this strong economy is its vibrant financial sector, prudent fiscal policies, and dynamic industrial and steel sectors. Banking in Luxembourg is the largest sector of its economy with an asset base of over $1.24 trillion alone
3 . Singapore – $90,530 GDP (PPP)
This tiny city-state has moved up from 5th position to take 3rd with per capita income (PPP) of $90,530, which is five times the average per capita income for an ordinary individual in the world. The basis of Singapore’s wealth is its financial services sector, a chemical export industry, and its liberal economic policies that encourage growth and innovation. Singapore has the second busiest port in the world, exporting $414 billion of goods in 2011 alone.
4. Brunei – $76,740 GDP (PPP)
Brunei, a small country with a wealthy economy that is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition has led to GDP per capita (PPP) of $76,740. It is almost completely supported by exports of crude oil and natural gas. Like other oil countries in the list the government has shown progress in diversifying the economy away from just oil and gas
5. Ireland – $72,630 GDP (PPP)
The Emerald Isle has a per capita income of about $72,630 with a population of about 4.8 million people. The main industries that boost its economy are textiles, mining, and food proctuon – staple products in any economy. In OECD (Organization of Economic Cooperation and Development) rankings, Ireland actually places 4th overall.
6. Norway – $70,590 GDP (PPP)
This Nordic nation’s per capita GDP of $70,590 allows its 4.97 million people to reap the benefits of a small yet robust economy. Driven by fishing, natural resources, and major petroleum exploration, Norwayis the eighth largest exporter of crude oil, 9th largest exporter of refined oil, and 3rd largest exporter of natural gas in the world
7.Kuwait – $69,670 GDP (PPP)
Kuwait is a small, relatively open economy and its citizens enjoy a per capita GDP (PPP) of $69,670. The highest-valued currency unit in the world currently is the The Kuwaiti dinar. With nearly 10% of the world’s oil reserves, petroleum accounts for nearly half of GDP and 95% of export revenues and government income. In recent years, Kuwait has done little to diversify its economy due to positive fiscal situation.
6 .The United Arab Emirates – $68,250 GDP (PPP)
This Middle Eastern federation of emirates has a land area of about 32,278 sq. miles, which means it could easily fit within New York State (54,556 sq. miles). With a population of 9.2 million people, it’s a bit more populated than the state of New Jersey. A third of the $68,250 per capita economy comes from oil revenues, while the service sector and telecommunications also contribute significantly. The UAE is the second largest economy in the Arab world after Saudi Arabia.
9. Switzerland – $61,360 GDP (PPP)
The GDP (PPP) per Swiss citizen is $62,882. Swiss banking and financial institutions keep this country and its economy afloat. It is important to note that some of the wealthiest people and companies in the world own Swiss bank accounts and therefore Switzerland has excess capital to use for investment purposes. Zurich and Geneva, Switzerland’s most well-known cities, have consistently ranked among among the top ten worldwide in terms of standards of living.
10. Hong Kong – $61,020 GDP (PPP)
Hong Kong’s growth rate slowed in 2016, according to the IMF, but it still stands as one of the richest countries in the world. A reduction in global trade and tourism from mainland China led to lower growth last year, the IMF said, but spending is expected to lead Hong Kong’s growth rate to pick up for 2017. The territory has a population of more than 7 million