We all grow up hearing the famous line, “money can’t buy happiness”. To some extent, the sentence is true, but when we look around the modern world, the sentence does not wholly justifies. Although we cannot buy happiness to sustain life, money is mandatory. In the present world, money is an essential factor in surviving life. The country that has more money has more power. There are several factors to determine which is the richest country in the world. So here we will let you know the names of the top 10 richest countries in the world with their economy. So keep scrolling down our article to know who are the top 10 Richest Country in The World.
- Richest Country in The World [Updated 2023]
- Top 10 Country List with Economy
- 1. Luxembourg- GDP- $ 86.898 billion, GDP per capita -$ 135,046
- 2. Ireland- GDP- $519 billion GDP per capita- $102,217
- 3. Norway- GDP- $541 billion GDP per capita- $99,481
- 4. Switzerland- GDP- $807.418 billion GDP per capita- $92,434
- 5. Qatar- GDP- $221.369 billion GDP per capita- $82,887
- 6. Singapore- GDP- $423 billion GDP per capita- $79,426
- 7. United States- GDP- $25.035 trillion GDP per capita- $75,179
- 8. Iceland- GDP- $27 billion GDP per capita- $73,981
- 9. Denmark- GDP- $399.1 billion GDP per capita- $68,094
- 10. Australia- GDP- $1.72 trillion GDP per capita- $66,407
Richest Country in The World [Updated 2023]
Most surveys to determine the Richest countries in the world use the Gross Domestic Product (GDP) to evaluate any nation’s money. A country whose GDP per capita income is high will have high standards. However, this should not be the only factor; many other things are considered, like living standards, ecological diversity, good governance and many more.
However, GDP per capita income is the most common factor in evaluating the status of every nation. Based on this factor, we have prepared a list of the top 10 richest countries in the world. So keep reading the article to know the top 10 wealthiest countries.
Top 10 Country List with Economy
Here we are showing you the list of the top 10 countries in the world that have the highest economy and GDP as per the data available from various sources.
1. Luxembourg- GDP- $ 86.898 billion, GDP per capita -$ 135,046
Leaving behind the world’s largest countries in the world, a small European country, Luxembourg has made it to the first position in the list of the top 10 richest countries in the world. Luxembourg is one of the smallest countries in Europe and among the least populated countries in the world in 2022.
The GDP per capita of the country is the highest in the world right now. As per the data collected from various sources, the GDP of the country is $ 86.898 billion, while the GDP per capita is $ 135,046. The country’s economy largely depends upon the steel, banking and industrial sectors.
2. Ireland- GDP- $519 billion GDP per capita- $102,217
Ireland’s economy is the fastest-growing economy in the world. The country has almost doubled its economy in the last ten years; as a result, this country is placed at no. 2 on the list of the richest countries in the world. The country’s economy is mainly built by services in the financial sector, high-tech, life sciences and agribusiness.
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3. Norway- GDP- $541 billion GDP per capita- $99,481
The European country Norway is among the richest countries in the world, not just considering the GDP per capita but the other factors also contributing to making the country a wealthy nation. In Norway, the corruption level is lower as compared to the other nations. Moreover, the living standard and life expectancy of the people are also high.
Norway is the largest oil-producing nation in western Europe. Most of the country’s economy is fueled by oil. Things were not the same before Norway was among the poorest nation, but concentrated growth has been seen in the country’s economy since the start of the industrial revolution.
4. Switzerland- GDP- $807.418 billion GDP per capita- $92,434
At no. 4 is another European country Switzerland, known for its natural beauty. At present most millionaires are from Switzerland. A significant part of the country’s GDP comes from the service sector, i.e. 70%. The economy of the country has ranked first in the world since 2015. Higher education, robust institutional framework, and potential business environment contribute to the country’s economy.
5. Qatar- GDP- $221.369 billion GDP per capita- $82,887
Qatar generally ranks among the wealthiest countries in the world, according to the data assembled by the United Nations, the World Bank, and the International Monetary Fund. Petroleum and natural gas are the foundation of a country’s economy and contribute more than 60% of the GDP. The country is the second largest exporter of natural gas and third in natural gas reserves.
6. Singapore- GDP- $423 billion GDP per capita- $79,426
The free market economy of Singapore is affected mainly by the Covid- 19 pandemic. But despite its challenges, the country made its name on the list of the top 10 richest countries in the world. The country has the lowest tax rates and the second-highest GDP regarding PPP. The country’s economic growth is magnificent, and now it is known as the financial and manufacturing hub of Southeast Asia.
7. United States- GDP- $25.035 trillion GDP per capita- $75,179
Among the big countries in the world, the United States is considered the richest country in the world. The country’s nominal GDP is the highest among all nations, while the PPP GDP is the second largest after China. The major portion of the nation’s economy is built by abundant natural resources, highly developed infrastructure and large productivity. USA’s economy is considered the world’s most productive economy.
8. Iceland- GDP- $27 billion GDP per capita- $73,981
Immense growth has been seen in the economy of Ireland in past years. The primary source of income contributing to the nation’s economy are tourism, export, investment, fishing, and aluminium smelting. In 2011 the GDP of the country was $ 12Billion which rose to $27 billion in 2018. But after that, the country’s economic growth slows down.
9. Denmark- GDP- $399.1 billion GDP per capita- $68,094
Denmark’s economy is highly dominated by the country’s service sector, i.e. nearly 80%. The modern mixed economy of the country is least affected by the Covid-19 pandemic. The population of the country is 5.935 million as of 2022, according to Wikipedia. The people of Denmark have a comfortable standard of living, and the gross national income per capita of the country is the seventh highest in the world.
10. Australia- GDP- $1.72 trillion GDP per capita- $66,407
The smallest continent has a mixed market economy with a record for the longest run of GDP growth. Likewise, the other countries, the service sector also dominates Australia’s economy. The living standard in the country is higher due to the low population and plentiful natural resources. The nominal GDP of the country is at no. 14, according to Wikipedia.
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32 thoughts on “Richest Country in The World [Updated 2023] Top 10 List with Economy”
Do you also have rating on Happiness Index.. Some years ago Bhutan was placed 1st on Gross National Happiness. Sometimes, the highest per capita index countries may not translate to general Happiness of Citizens.
8 refers to Iceland but your comments are related to Ireland
typo the information is actually for Iceland, Ireland doesn’t have a aluminium industry.
The GDP for Ireland is more like half than stated, multinational corporations have squed the data, sure they are bringing in billions but It’s going at the same rate in tax to the European union not the country/people.
Heaven is the richest place.
Most important, will you be in Heaven after you passed from this earthly life ?
Heaven belongs to the one that created the earth and that is Allah the Almighty. His Prophet Muhammad , peace and blessings be upon him , brought us the purpose of our earthly existence, clearly set out in the last revelation and our ultimate destination. Did we serve Him as well as our fellow human beings in the best possible manner? This question is for everyone on the earth to answer.
Jesus Christ the only way, the truth, and the life. The Son of the living God, come to Him He will save you and heaven will be yours. Peace.
ONLY LOVELY JESUS CAN GIVE YOU PROOF OF LIVING GOD IN THIS WORLD NOT AFTER DEATH.
PRAY WITH TEARS GOD THE EYES OF THE WORLD.
Yes heaven is the richest, the economy stable where there is no power tussle, eternal peace joy forever. Have you got your citizenship?. If not you still have the opportunity to do that as Jesus beckons” COME”.
most valuable things. better growing country’s
the second third fourth economy does not find place in the list stil the fifth largest economy boast of its status Indians patting their own back.
The richness is counted on the basis of per capita income which is low in other countries because of huge population.
what about 🇨🇦
i agree,,Canada is the best country in the world, the most helpful country🇨🇦
yeah Canda is country who helped terrorist organisation like khalista.Canada prime minister who one the stupid person.He also interference during farmer protest.It is totally internal matter of India.stay on ur limit Canada and Justin todu Canadian primeminsterotherwise Indian will take serious action.
Ireland’s lofty position in this list is bogus. it’s all down to ‘Leprachaun Economics’. Ireland is actually one of the poorer countries in the EU. It’s to do with US companies using Ireland as a tax haven to register their head offices. It’s nothing to do with Ireland having transformed itself in a few decades from being the poorest country in The British Isles to the richest. The real economy of Ireland and the standard of living still lags that of Northern Ireland which is in the UK.
Not true and misleading. (You Sounds bitter)
Ireland’s economy has developed radically in comparison to the UK.
There are many multinationals in Ireland but have real jobs and products.
Interesting and inspiring, hope other countries work hard to improve their economies as well as standard of living for their citizens!
Hope you also come up with the ten poorest countries in the world! Thanks
Wonderful research based information.
i disagree with the data. I want to know if the data is by GDP or best economy. USA is the largest economy followed by China, Germany and more. thise tiny countries can not be best economy.
i agri with you you are absolutely right
Yes, ridiculous to suggest Ireland is one of richest countries in the world. A country is only rich if it looks after its people. Thousands in Ireland are homeless, more are the ‘invisible’ homeless.’ I’m a qualified teacher with a son with extra needs. I’m sleeping on a couch because I cannot afford a two bedroom apartment. More people are on trolleys because of inadequate healthcare. The list of poverty pointers could go on. Yes, some people are rich in Ireland, more are on the breadline. To say Ireland is rich is absolute bullshit. It’s a country of inequalities with a government who doesn’t give a shit about its own people. Use some different criteria for richness before I fucking puke.
while billions of people in the world are suffering from poverty and starvation a handful countries are enjoying this luxury life style and accumulation wealth and money ..some of them have done with their hard working and talents but many have accumulated wealth and Money by exploitative means such as higher interest rates on poor countries and other means of exploitation…these countries are part of 1% VS 99% in the world .Good luck for them but nothing is permanent in this world . all this to enjoy this worldly life and what they have stored for the eschatological life is nothing
You don’t have to blame them,take a look at our nation Nigeria to be prescribed, with God blessings Nigeria suppose to be one of the richest country in the world,but because selfishness and greedy of our past and present leadership politicaly, nigeria is one of poorest country in the world. just take a look at what’s going on with our so called politicians,especially the so called Inec officials, they the worst of all, causing so many problems here and there,if mandate is been given to the rightful owner,and the end of the the person chosen by the people doesn’t perform well, then the people will be waiting for the next term to try another person, if it happens two or three times like that,the of the people will now be there, but because of they know fully well that they can buy the Inec, even if the people are threatening them they don’t worry because they know that there’s a backup,as of now it’s very difficult to buy masses, the problem now is Inec and the judiciary that’s well the problem is hiding.the labour congress are trying but not a enough, they put more effort, thank you
I’m not confident on the accuracy of this report, keep in mind this is reported assets. When you calculate military assets which I don’t think are part of this we look at countries in question like China and other communist countries who do not trade freely with others, although this does give you an overview of overall wealth by some countries who are mist likely on top, I’m not surprised Qatar made the list I was just recently in that airport, and could see how this could be in the top 10.
dubai is number one rich happiness is on every one’s face all enjoy their life
number 2 india every body happy
How can rich countries lift the level of poorer countries to become richer also.
Even money can’t buy everything, eg. happiness, love, self satisfaction etc.
If can’t it’s better to have a third world war
Respect for every religion. But when I compare the teachings of all religions, Islam is only the religion which is perfect and protect all human beings rights. Even in every aspects of life Islam guides us most perfectly than any other religions
Spelling error under the “Iceland” breakdown. Error ” Ireland”
what about africa