The world’s richest countries can be assessed based on their Gross Domestic Product (GDP) and GDP per capita, two key economic indicators. Here’s a list of some of the wealthiest countries by these metrics.
By GDP per capita (nominal):
Qatar – With a population of just over 2.8 million, Qatar is the world’s richest country based on GDP per capita. Its nominal GDP per capita in 2021 was estimated to be around $59,330, according to the International Monetary Fund (IMF). Qatar’s economy is heavily dependent on its oil and gas reserves, which account for more than 60% of the country’s GDP and around 85% of its export earnings.
Macao SAR – Macao Special Administrative Region (SAR) is a former Portuguese colony that is now a special administrative region of China. Its nominal GDP per capita in 2021 was estimated to be around $57,500, according to the IMF. Macao’s economy is heavily reliant on tourism and gambling, with its many casinos attracting visitors from around the world.
Luxembourg – With a population of just over 600,000, Luxembourg is one of the smallest countries in Europe. Its nominal GDP per capita in 2021 was estimated to be around $119,800, according to the IMF. Luxembourg’s economy is highly diversified, with a strong financial sector and a thriving steel industry.
Singapore – Singapore is a small island city-state in Southeast Asia with a population of around 5.7 million. Its nominal GDP per capita in 2021 was estimated to be around $64,450, according to the IMF. Singapore’s economy is highly developed and is known for its strong manufacturing and financial sectors.
Brunei Darussalam – Brunei Darussalam is a small country located on the island of Borneo in Southeast Asia. Its nominal GDP per capita in 2021 was estimated to be around $25,800, according to the IMF. Brunei’s economy is heavily dependent on its oil and gas reserves, which account for around 95% of the country’s GDP and almost all of its export earnings.