Mapped: The 25 Richest Countries in the World

By Matt Dallisson, 27/04/2021

 

The Briefing

  • The richest country in the world is Luxembourg with a GDP per capita of over $109,000
  • The worldโ€™s 25 richest countries are located across North America, Europe, Asia, and Oceania

Mapped: The 25 Richest Countries in the World

Which are the richest countries in the world, by nominal GDP per capita?

This map looks at the top 25 countries by this metric. Theyโ€™re located across North America, Europe, Asia, and Oceania. Notably, no South American or African countries make the list.

Country GDP per capita (USD)
๐Ÿ‡ฑ๐Ÿ‡บ Luxembourg $109,602.32
๐Ÿ‡จ๐Ÿ‡ญ Switzerland $81,867.46
๐Ÿ‡ฎ๐Ÿ‡ช Ireland $79,668.50
๐Ÿ‡ณ๐Ÿ‡ด Norway $67,988.59
๐Ÿ‡บ๐Ÿ‡ธ United States $63,051.40
๐Ÿ‡ธ๐Ÿ‡ฌ Singapore $58,483.96
๐Ÿ‡ฉ๐Ÿ‡ฐ Denmark $58,438.85
๐Ÿ‡ฎ๐Ÿ‡ธ Iceland $57,189.03
๐Ÿ‡ถ๐Ÿ‡ฆ Qatar $52,751.11
๐Ÿ‡ฆ๐Ÿ‡บ Australia $51,885.47
๐Ÿ‡ณ๐Ÿ‡ฑ Netherlands $51,289.57
๐Ÿ‡ธ๐Ÿ‡ช Sweden $50,339.20
๐Ÿ‡ฆ๐Ÿ‡น Austria $48,634.34
๐Ÿ‡ซ๐Ÿ‡ฎ Finland $48,461.48
๐Ÿ‡ฉ๐Ÿ‡ช Germany $45,466.12
๐Ÿ‡ญ๐Ÿ‡ฐ Hong Kong SAR $45,175.73
๐Ÿ‡ง๐Ÿ‡ช Belgium $43,813.80
๐Ÿ‡จ๐Ÿ‡ฆ Canada $42,080.10
๐Ÿ‡ธ๐Ÿ‡ฒ San Marino $41,682.81
๐Ÿ‡ฎ๐Ÿ‡ฑ Israel $41,559.51
๐Ÿ‡ซ๐Ÿ‡ท France $39,257.43
๐Ÿ‡ฌ๐Ÿ‡ง United Kingdom $39,228.52
๐Ÿ‡ฏ๐Ÿ‡ต Japan $39,047.90
๐Ÿ‡ฒ๐Ÿ‡ด Macao SAR $38,769.20
๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand $38,675.32

Although number one on the global stage in terms of total GDP, the U.S. places fifth with a GDP per capita of $63,051.

Interestingly, a number of countries with smaller population sizes have a high GDP per capita. For example, Iceland makes the top 10 at $57,189, but the islandโ€™s population is only around 342,000 people. Similarly, Luxembourgโ€™s population is just under 633,000โ€”but itโ€™s the richest country in the world on a per capita basis.

Building Wealth

So how did these countries become so well off?

Looking at history, most high-income countries went through a similar linear journey. Beginning with agriculture-based economies, they went through a period of rapid industrialization, and finally became service-based economies.

In Luxembourg today, one of the top industries is banking and financial services, for example. Hereโ€™s a look at some of the top industries in the next five richest countries:

  • ๐Ÿ‡จ๐Ÿ‡ญ Switzerland:
    Banking and financial services, agriculture
  • ๐Ÿ‡ฎ๐Ÿ‡ช Ireland:
    Natural resources (including agriculture, fisheries, forestry, and mining), pharmaceuticals
  • ๐Ÿ‡ณ๐Ÿ‡ด Norway:
    Oil and gas, hydropower, seafood
  • ๐Ÿ‡บ๐Ÿ‡ธ U.S.:
    Real estate, healthcare, technology
  • ๐Ÿ‡ธ๐Ÿ‡ฌ Singapore:
    Financial services, manufacturing, oil and gas

The worldโ€™s wealthiest economies will likely remain on top for the foreseeable future, though some may experience plateauing growth. In Japan, for example, the domestic market is beginning to shrink due to an aging population.

Regardless, the wealth of these countries today is astounding, with the richest country in the world having a GDP per capita of 415x more than the poorest country in the world.

Where does this data come from?

Source: IMF
Details: GDP per capita is measured in $USD, 2020. In IMFโ€™s database, Macao SAR and Hong Kong SAR are both listed separately from China.

The post Mapped: The 25 Richest Countries in the World appeared first on Visual Capitalist.

This content was originally published here.

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