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The 12 richest countries in the world

Some of the smallest countries in the world continue to dominate the list of the world’s richest countries, an analysis by Global Finance Magazine shows.

The ranking was published  2017 and based on data from the International Monetary Fund.

The magazine ranked the world’s countries according to their gross domestic product (GDP) based on purchasing power parity (PPP) per capita.

The PPP takes into account the relative cost of living and the inflation rates of the countries to compare living standards among the different nations.

The small countries that dominate the top ten all have small populations compared to countries that lead the world purely in terms of GDP — such as the United States, China, or Germany.

Most of these small nations heavily depend on immigrant workers who often do not reside in the country they are working in or are not granted resident status, and are therefore not counted in the GDP per capita calculations.

15 of the 30 richest countries in the world are in Europe, while big some big economies such as the US, Japan, and Canada also made the cut.

The GDP per capita listed represents the amount of wealth produced in 2016 and is expressed in international dollars.

1. Qatar — GDP per capita: $129,726 (£105,791)

2. Luxembourg — GDP per capita: $101,936 (£83,128)

3. Macao — GDP per capita: $96,147 (£78,407)

4. Singapore — GDP per capita: $87,082 (£71,015)

5. Brunei — GDP per capita: $79,710 (£65,003)

6. Kuwait — GDP per capita: $71,263 (£58,114)

7. Ireland — GDP per capita: $69,374 (£56,574)

8. Norway — GDP per capita: $69,296 (£56,510)

9. United Arab Emirates — GDP per capita: $67,696 (£55,206)

10. San Marino — GDP per capita: $64,443 (£52,553)

11. Switzerland — GDP per capita: $59,375 (£48,420)

12. Hong Kong — GDP per capita: $58,094 (£47,375)


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