Richness is directly proportional to wealth. The more wealth the country has, the richer the country is. From several surveys and experiments, it is found that trillions of wealth are contributed just because of 20 or 25 rich countries.
We all consider Gross domestic product or GDP is the best or standard method for figuring out a country’s economy or population of a country. But it does not provide full information about the wealth generated by a country. Apart from this, another important method that calculates all country wealth in and out of border is Gross national income or GNI.
Based on this, here we list 21 richest countries in the world that have complex and diverse economies.
1. Qatar
The first name that adds in the list of the wealthiest country in the world is Qatar, which has Gross national income per capita is approximately $124,130 till 2018. The Arab country has oil reserves that bring trillions of dollars to the country. This natural resource subsidizes government services in the country. Its global supply rate is 13% and its petroleum products export rate is 87%. The unemployment rate in Qatar is only 0.2%.
2. Macao SAR, China
Macao, a country that increases its economy faster than any of the countries in the last few years and also ranks in the list of 20 richest countries in the world. It handles affairs and defense of China and famous among people as the world’s top gaming destination. Its local casino industry adds billions of dollars to the country’s economy. The GNI per capita of Macao is $112,480.
3. Singapore
Singapore is one of the important countries of Malaysia that connect mainland Asia to the rest of the world. It is the biggest seller of Integrated circuits and microchips in the world. The country most economy depends on the export of technology and it export approximately 36% circuits around the world. The GNI per capita of this business-friendly company is $94,500.
4. Brunei
The smallest Southeast Asian country and the world’s richest nations have GNI per capita of approximately $85,790 Brunei. The biggest exporters of petroleum export more than 91%. Here, citizens enjoy public benefits without paying taxes. The unemployment rate of the country is quite high that is 9.2%.
5. Kuwait
Out of the top five wealthiest countries in the world, Kuwait occupies the fifth position. The oil-rich nation has a petroleum account for more than 84% of its exports. Its GNI per capita is approximately $83,390. The country ranked as a corrupted nation due to the unequal distribution of petroleum wealth.
6. United Arab Emirates
The biggest exporters of petroleum forms like crude, refined and gas are the United Arab Emirates. It’s export list includes some minerals and precious metals such as gold and diamonds. All these things make the United Arab Emirates, the richest country in the world. GNI per capita of the country is approximately $75,300.
7. Luxembourg
The smallest country in the world in terms of landmass and population in Luxembourg. Its Gross national income per capita is approximately $71,420. Most of the economy of this richest country is developed by the exports of plastics, machinery, and iron. It exports goods and services around the world.
8. Switzerland
The beautiful country that has a fairly diverse economy and export gold around the world is Switzerland. Though Switzerland is a small country with less population, it controls a large export of the world’s gold. Its GNI per capita is approximately $68,370. The country partially relies on innovation to drive economic growth.
9. Norway
Petroleum producing powerhouse since the 1960s after the discovery of offshore oil and gas is Norway. The country has a low population and a great life expectancy of 82.5 years, which is more than the global average. The country GNI per capita is approximately $68, 31. It also occupies a good position in the sector of health around the world.
10. Hong Kong
The special administrative region of China, with powerful GNI per capita of approximately 67,700, is Hong Kong. Its diverse economy is because of exporting machines such as broadcasting equipment and precious metals and minerals like gold, silver, and diamond. Hong Kong is not the wealthiest country but the healthiest country too.
11. Bermuda
The least populated country that has a population of approximately71, 000 or less is Bermuda. The island nation ranks among the richest country because of international businesses such as insurance and financial services companies. Tourism is the biggest source of economy for the country. Its GNI per capita is approximately $66,810.
12. Ireland
Another fastest economies growing country, which has a gross national income of approximately $65,290, is Ireland. The country’s most economic relies on exports. Its top and popular exports include chemicals such as packaged medicaments. The life expectancy rate of Ireland population is approximately 82 years or even more.
13. United States
Another beautiful country that adds in the list of richest countries in the world is the United States. With GNI per capita of approximately $63,390, the country is an attractive destination for immigrants. Like other countries whose economic relay on exports, the United States’ total export value of goods and services is just 12.1%. The country has the highest level of income equality as compared to other wealthy countries.
14. Netherlands
Netherland is a country whose economy heavily relies on export such as machineries like computers, mineral fuels like oil, Electrical machinery like equipment and Pharmaceuticals. Its exports generate nearly 83% of the country’s income. The Gross National Income per capita of the country is approximately $56,890.
15. Denmark
The country whose diverse economy depends upon machines, chemical products, animal products, and other foodstuffs is Denmark. It is the biggest exporter of packed medicaments around the world. Its GNI per capita is approximately $56,410. Like the richest country, it is also the least corrupt country around the world.
16. Saudi Arabia
The country that joins the list of the richest country in the world because of oil is Saudi Arabia. This resource-rich country is the biggest exporter of crude petroleum around the world. While petroleum is lucrative, without a diversified economy, Saudi Arabia is vulnerable to fluctuations in oil prices. Its GNI per capita is approximately $55,650.
17. Austria
Austria is the biggest exporter and wealthiest country in the world. Its economy is mostly depending upon the export of machines and vehicles. The main reason for its economy encouragement is innovation. It spends most of the country money in the research and development field. It’s GNI per capita till 2018 is $55,230.
18. Iceland
The most sparsely populated country in Europe is Iceland. It is the biggest exporters of Raw Aluminum, Fish Fillets, Non-fillet Frozen Fish, Animal Meal and Pellets around the world. The country largely relies on subsistence fishing and agriculture for the economy. It’s Gross National Income per capita is approximately $55,190.
19. Germany
Germany is also a big name that added to the list of richest countries in the world. Third largest exporter, that offers a wide array of goods and automobiles. The country is popular as the best automobile manufacturer that manufactures and export BMW, Audi, Mercedes- Benz, Volkswagen, and other car brands around the world. Its GNI per capita is approximately $54,890.
20. Sweden
The country, which spends most of its money on education and drives by innovation, is Sweden. The country life expectancy rate is 82.3 years and its literacy rate is also high. Its economy depends on the export of industrial machinery, automobile, paper products, pulp and wood, chemicals and iron and steel products. Its GNI per capita is approximately $53,560.
21. Belgium
The amazing country whose economy highly relies on exports is Belgium. The primary list of export products it includes is medicine, cars, refined petroleum and diamond. Belgium’s exports of goods and services around the world are more than 85%. It’s Gross National Income per capita is approximately $50,940 till 2018.
