Table of Contents
The United States of America
• Region: North America
• Annual GDP Growth Rate: 2.7%
USA upholds its status as the richest country and major global economy, steadfastly preserving its pinnacle position from 2023 to 1960. Its economy boasts remarkable diversity, propelled by significant sectors, including manufacturing, services, technology and finance. The United States enjoys a considerable consumer market, entrepreneurial spirit and fosters innovation, experiences advantageous business conditions and is the possessor of strong infrastructure.
Iceland ($80,000)
The power of the Icelandic economy gains out primarily from renewable energy production, tourism, and fishing. This state is among the good places to live, ranking higher in almost all quality-of-life indications.
Luxembourg ($140,000)
With a GDP per capita of around $140,000, Luxem ranks first among the richest countries on the planet. A powerful financial sector and constant influx of a significant foreign capital making its economy distinctive.
China
• Region: East Asia
• Annual GDP Growth Rate: 4.6%
China has witnessed a remarkable upswing in its economic growth, moving from the second rank in 2023 to the fourth rank in 1960. The Chinese economy principally hinges upon investment, manufacturing, and exports. It pridefully be in possession of an extensive workforce, robust and expeditiously expanding consumer market, governmental backing, and infrastructural advancements.
Germany
• Region: North-central Europe
• Annual GDP Growth Rate: 0.2%
The German economy firmly aimed on exports and is renowned for its precision in the pharmaceutical, engineering, automotive, and chemical sectors. It derives advantage from its experienced labour force, development initiatives and robust research, and a marked commitment to foster innovation.
Japan
• Region: East Asia
• Annual GDP Growth Rate: 0.9%
Japan’s remarkable economy is well known by its progressive technology, service industry and manufacture prowess. Leading sectors surrounded automotive, financial domains, electronic, and machinery. Moreover, Japan garners recognition for its fixed working ethic, introducing technological advancements, and superior quality of exceptional exports.
India
• Region: South Asia
• Annual GDP Growth Rate: 6.8%
In 2024, as per GDP rankings, our country India is ranked 5th in globally. Our nation economy boasting swift diversity and progress, fuelled by major sectors like services, information technology, agriculture, and manufacturing. The nation capitalized on its broad domestic market, a technologically and youthful adept labour force, and an expand middle class.
United Kingdom
• Region: Western Europe
• Annual GDP Growth Rate: 0.5%
The economy of the United Kingdom comprised a blend of manufacturing, services, creative sectors and finance. London functions as the worldwide financial centre, tempting foreign investments. Its trade globalisation and alliances add on shape the economic UK expansion.
France
• Region: Western Europe
• Annual GDP Growth Rate: 0.7%
In 2024, France is expected to have the GDP estimating at 2,920 billion US dollars. The economy of France is specify by diversification, emphasising industries such as tourism, aerospace, agriculture and luxury goods. France is celebrated for its strong social welfare structure, substantial investment and well-developed infrastructure in development and research.
Italy
• Region:
• Annual GDP Growth Rate: 0.7%
Italy boasting a high developed market as the 3rd-hugest economy in the European Union. The country is known for its pioneering and influential business sector and competitive and hard working agricultural industry.
Brazil
• Region:
• Annual GDP Growth Rate: 2.2%
The Brazilian economy display a breadth of sectors, enclose agriculture, mining, services and manufacturing. Notably, it is a well known global hub for agricultural exportation and production. Several factors, include the advancement of infrastructure, commodity prices, and domestic consumption shaping the progress of Brazil’s economy.
Canada
• Region:
• Annual GDP Growth Rate: 1.2%
The Canadian economy rely heavily on its abundant natural resources, encompassing gas, oil, timber and minerals. Moreover, the nation boasting a thriving services sector, a well-set up manufacturing industry, and a steadfast zeal to technological advancements and fostering innovation.
United Arab Emirates ($76,000)
It is one of the most vital economies in the Middle East. Its wealth coming primarily from oil but also from the significant development the financial sector in recent years and of tourism.
The ranking of the richest countries in the planet providing an interesting snapshot of how global wealth is distributing. These country boasting a higher GDP per capita and often offered a higher quality of life, with approach to economic opportunities, advanced services, and modern infrastructure.
Frequently Asked Questions
How is Gross Domestic Product (GDP) computing?
GDP is decided by summing up consumption, government expenditure, investment (dissipation by businesses), and net transport (the difference between imports and exports).
What is the Asia largest economy?
The hugest economy in Asia is China, with a purported GDP of over $18,536 billion in 2024. In Asia’s GDP rankings, India and Japan ranking next to China.
What are the top 10 richest countries in the globe?
The top 10 richest nations in the planet by GDP per capita are as follows:
1. Luxembourg
2. Macao SAR
3. Ireland
4. Singapore
5. Qatar
6. United Arab Emirates
7. Switzerland
8. San Marino
9. United States
10. Norway
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