Special Report

10 Richest Countries in the World

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5. Bermuda
> 2013 GNI per capita: $75,620
> 2013 GDP: $5.6 billion (157th out of 206 countries)
> Population (2019): 63,918
> Life expectancy at birth in 2018: 81.7 years

Home to fewer than 64,000 people, Bermuda is the smallest country on this list. With a GDP of only $5.6 billion, it also has the smallest economy. Still, at $75,620, GNI per capita in Bermuda is fifth highest in the world.

Bermuda’s economy is heavily dependent on insurance and financial services for international business. Tourism, driven by visitors from the United States, is also an economic pillar.

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4. Luxembourg
> 2019 GNI per capita: $77,570
> 2019 GDP: $71.1 billion (73rd out of 206 countries)
> Population (2019): 619,896
> Life expectancy at birth in 2018: 82.3 years

Luxembourg is one of the smallest countries in the world, both in terms of landmass and population, with just over 600,000 citizens. With a GDP of $71.1 billion, Luxembourg’s GNI per capita is one of the highest in the world, at $77,570.

Surrounded by Germany, France, and Belgium — all countries that rank on this list — Luxembourg is dependent on trade with its European neighbours. It also has a strong financial sector.

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3. Singapore
> 2019 GNI per capita: $92,020
> 2019 GDP: $372.1 billion (35th out of 206 countries)
> Population (2019): 5.7 million
> Life expectancy at birth in 2018: 83.1 years

Formerly a British trading post, Singapore, a city state in southeast Asia is now a thriving economic powerhouse. Singapore’s economy is dependent on its financial and trade sectors. Its chief exports include electronics, petroleum products, chemicals, medical devices, and pharmaceuticals.

The country is largely unburdened by public sector corruption and has a well-educated population and low unemployment. It is one of only three countries in the world with a GNI per capita over $90,000.

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2. Qatar
> 2019 GNI per capita: $94,170
> 2019 GDP: $183.5 billion (54th out of 206 countries)
> Population (2019): 2.8 million
> Life expectancy at birth in 2018: 80.1 years

Qatar has the second highest GNI per capita in the world at $94,170 — more than five times the worldwide GNI per capita. Like many other Middle Eastern countries to rank among the richest in the world, Qatar’s wealth is largely derived from significant oil and gas production. Qatar exported $59 billion-worth of gas and petroleum in 2018, mostly to Asian countries like South Korea, India, and China.

Qatar is one of the fastest growing countries in the world, with a population growth rate of 10.4% from 2015 to 2019 — more than double the worldwide rate.

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1. Macao SAR, China
> 2018 GNI per capita: $123,290
> 2019 GDP: $53.9 billion (85th out of 206 countries)
> Population (2019): 64,445
> Life expectancy at birth in 2018: 84.1 years

Macao is a special administrative region of China. Though it is officially a part of China, it has broad authority over its own government and economy. Home to fewer than 65,000 people, Macao is one of the smallest countries on this list. Still, with a $53.9 billion economy, Macao’s GNI per capita of $123,290 is higher than that of every other country in the world.

Macao’s economy is almost entirely dependent on its service sector. Since foreign casinos were allowed to operate there in 2003, tourism and gaming have come to account for more than 90% of the economy.