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 when it comes to allowing the creation, maintenance and management of funds. 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 evaluate 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 such as the total amount of capital available in each element that is being compared, take into account its capacity, population and size when making said comparison or compare the standard of living of its populations.
Below we first present 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
Regarding 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 International Monetary Fund reflects that during 2016 the 25 richest countries were the following (values recorded in USD or US dollars).
1. United States
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 interior areas, such as Detroit, poverty wreaks havoc.
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 .
The country of the rising sun is in third position in terms of wealth according to GDP, with approximately 4,730,300 million dollars .
One of the main economic engines of Europe, Germany has a GDP of 3,494,898 million dollars , which has earned it the fourth position in the ranking.
5. United Kingdom
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.
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.
One of the powers with the highest economic growth rate, India’s GDP reached 2,250,987 million dollars in 2016 , 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.
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.
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 shantytowns of favelas and in towns.
A GDP of 1,532,343 million dollars is what has earned Canada the tenth position of this list. In addition, it has excellent public services.
11. South Korea
Despite its complicated situation with respect to North Korea, during 2016 South Korea was 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.
Another of the great superpowers, 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.
During 2016, Australia ranked thirteenth in terms of GDP, with 1,256,640 million dollars in its coffers.
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.
The Mexican country is in fifteenth position with a GDP of 1,063,606 million dollars .
Indonesia, with 940,953 million dollars in GDP , is in 16th position.
The Netherlands has had a GDP of 769,930 million dollars, being the seventeenth richest country according to the International Monetary Fund.
With 735,716 million dollars , Turkey was the eighteenth richest country in 2016-
Switzerland has a GDP of 662,483 million dollars , which in amount of money in circulation is ranked number nineteen.
20. Saudi Arabia
Saudi Arabia registers in 2016 a GDP of 637,785 million dollars , which is the twentieth position in the ranking.
The twenty-first position in regards to the twenty-five richest countries is for Argentina, with a GDP of 541,748 million dollars .
Taiwan ranks twenty-second with a GDP of $519,149 million dollars.
A GDP of $517,440 million is what has made Sweden the 23rd richest country in the world in 2016.
Belgium is the twenty-fourth richest country in the world, with a GDP of $470,179 million .
The 25th place is taken by the Polish country, with a GDP of $467,350 million dollars .
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 that the country has without taking into account other factors. The amount of raw money that the country has is important, but if only that factor is taken into account, the information obtained is biased and limited, not knowing the real capacity of the general population.
To solve this problem we can apply the GDP per capita, that is, the relationship between GDP and the number of inhabitants that allows us to make an average of what a citizen receives per year of the gross domestic product, which allows us to have a better idea of the level life of the general population. Let’s see below the twenty-five countries with the highest GDP per capita
Qatar is the country with the highest per capita income, with $137,162 per year per citizen .
Luxembourg is the European country with the highest per capita income, being the second in the world, with an amount of $97,639 dollars per year.
With a per capita GDP of $83,066 per year, Singapore comes in third. This city-state located in the south of Malaysia bases its economy on exports, oil and as a financial center.
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.
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 dollars per year .
At $67,166 per year , Norway’s GDP per capita makes this country the sixth richest per capita.
7. United Arab Emirates
The United Arab Emirates have a GDP per capita that places them in seventh position, with $66,347 dollars per year per inhabitant .
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 dollars a year .
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 tenth as one of the countries with the highest per capita income in the world, with an amount of $55,097 per year .
11. United States
The power with the highest GDP in the world is one of those that also has the highest GDP per capita, which is $54,370 per year .
12. Saudi Arabia
The per capita income of Saudi Arabia is $52,311 dollars a year , being the eleventh power in the world.
Ireland has a GDP per capita of $51,284 per year , making it another of the countries with the highest wealth parity.
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 .
The Netherlands, and specifically the Netherlands, is another of the countries that coincide in having one of the highest nominal GDPs at the same time as having the highest GDP per capita, with $47,960 per year in this second aspect .
With a GDP per capita of $46,550 per year , Austria is another of the countries with the highest wealth parity, ranking in 16th position.
With a GDP that placed it thirteenth among the richest countries in the world last year, Australia ranks seventeen in terms of the distribution of such wealth, with a per capita GDP of $46,550 per year.
This country is also one of the countries that, having the greatest wealth, is better distributed, with a GDP per capita of $46,219 per year .
Europe’s economic engine ranks nineteenth in per capita income, with $46,216 per year .
Taiwan’s gross domestic product at per capita purchasing power parity values is $46,036 annually , which puts this region in 20th place.
With a per capita GDP of $45,723 per year , Canada ranks 21st.
Denmark is another of the countries with the highest per capita income in the world, with $45,451 a year .
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.
The citizens of Belgium have a GDP per capita of $43,800 annually .
In twenty – fifth place, France has a per capita income of US $41,018 a years .