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Home »  World’s Richest Countries: The Top Ten Revealed
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 World’s Richest Countries: The Top Ten Revealed

An In-Depth Look at the Top 10 Wealthiest Countries in the World, Ranked by GDP and Purchasing Power
News DeskBy News Desk5 October 2024No Comments2 Mins Read
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To determine the wealthiest countries in the world, we rely on GDP per capita. According to the International Monetary Fund (IMF), this measure reveals the average economic output per person. This article presents the top ten richest countries based on per capita GDP, providing a clear picture of global wealth distribution.

How We Rank the Richest Countries

GDP, or Gross Domestic Product, measures the total value of all goods and services produced in a country. By dividing this figure by the population, we obtain GDP per capita, which indicates the average income of a country’s residents. To refine this estimate, Purchasing Power Parity (PPP) is used to account for differences in cost of living and inflation rates.

Top 10 Richest Countries of 2024

1. Luxembourg

  • Rank: 1
  • Continent: Europe
  • GDP-PPP: $131,380
  • GDP: $88.56 billion
  • Population: 639,000

2. Ireland

  • Rank: 2
  • Continent: Europe
  • GDP-PPP: $106,060
  • GDP: $564.02 billion
  • Population: 5.03 million

3. Switzerland

  • Rank: 3
  • Continent: Europe
  • GDP-PPP: $105,670
  • GDP: $938.46 billion
  • Population: 8.70 million

4. Norway

  • Rank: 4
  • Continent: Europe
  • GDP-PPP: $94,660
  • GDP: $526.95 billion
  • Population: 5.41 million

5. Singapore

  • Rank: 5
  • Continent: Asia
  • GDP-PPP: $88,450
  • GDP: $525.23 billion
  • Population: 5.45 million

6. United States

  • Rank: 6
  • Continent: North America
  • GDP-PPP: $85,370
  • GDP: $28.78 trillion
  • Population: 332 million

7. Iceland

  • Rank: 7
  • Continent: Europe
  • GDP-PPP: $84,590
  • GDP: $33.34 billion
  • Population: 340,000

8. Qatar

  • Rank: 8
  • Continent: Asia
  • GDP-PPP: $81,400
  • GDP: $244.69 billion
  • Population: 2.93 million

9. Macao SAR

  • Rank: 9
  • Continent: Asia
  • GDP-PPP: $78,960
  • GDP: $54.68 billion
  • Population: 695,168

10. Denmark

  • Rank: 10
  • Continent: Europe
  • GDP-PPP: $68,900
  • GDP: $420.8 billion
  • Population: 5.86 million

These rankings highlight the countries leading in economic wealth per capita, offering a fresh perspective on global economic status.

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