The Top 10 Richest Countries In 2012
Forbes magazine published an article recently on the richest 15 countries in the world and the surprise was that on top of this list is the Arab state of Qatar.
Qatar topped a list that classifies countries on the basis of per capita gross domestic product, where the annual per capita income in it exceeds 88 Thousand Dollars, according to figures from the International Monetary Fund the world of 2010.
Thanks to enormous economic revenues of oil and gas reserves, in comparison with the relatively low population (1.7 million inhabitants), as well as the diversity of investments carried out by the Qatari government from owning stakes in global financial institutions, universities and multinational companies, through the organization of major world events as the 2022 FIFA World Cup.
10. Netherlands: GDP of $40,973
The Netherlands is intensely modern and industrialized country. The leader industries are food processing, petroleum refining, and the manufacture of chemicals, electrical machinery, metal products, and electronics. The country’s only some natural resources include coal, natural gas, and petroleum. An extensive quantity of the country’s wealth is added annually by monetary and transportation services.
Amsterdam is one of the world’s major financial centers, and Rotterdam is one of the world’s busiest ports. The Netherlands has a great foreign trade. The main exports are machinery, chemicals, natural gas, processed foods, and horticultural products.
Imports include machinery, transportation equipment, chemicals, fuels, foodstuffs, and clothing. The main trading partners are Germany, Belgium, France, and Great Britain. This makes her to be listed among the richest countries of the world.
9. Switzerland: GDP of $41,950
Switzerland has an extremely flourishing marketplace economy based on worldwide trade and banking. Its principles of living, worker productivity, quality of education, and health care are superior to any other European country. Inflation is low, and redundancy is trifling.
The economy is heavily dependent on foreign guest workers, who represent about 20% of the labor force. Agriculture employs less than 5% of the population, and since only 10% of the land is arable, the primary agricultural products are cattle and dairy goods; grains, fruits, and vegetables are also grown, and there is a large chocolate-processing industry. Her most important trading associates are Germany, Italy, France, the United States, and Great Britain.
8. Honkong: GDP of $45,944
As one of the world’s most important global financial centers, Hong Kong has a main entrepreneur service economy characterized by short duty and free trade, and the currency, Hong Kong dollar, is the ninth most traded currency in the world. Hong Kong has remained as the world’s freest economy, according to Index of Economic Freedom since the inception of the index in 1995.
7. United States: GDP of $46,860
Being the super power of the world America stands as the number seven richest country among the world. About 60% of the global currency reserves have been invested in the United States dollar, while 24% have been invested in the euro. The country is one of the world’s largest and most influential financial markets. Foreign investments made in the United States total almost $2.4 trillion, which is more than twice that of any other country.
6. United Arab Emirates: GDP of $47,439
There is a variety of deviating estimates regarding the actual growth rate of the nation’s GDP, however all obtainable figures point that the UAE at present has one of the best growing economies in the world. According to a recent report by the Ministry of Finance and Industry, nominal GDP rose by 35 per cent in 2006 as compared with $130 billion in 2005.
5. Brunei: GDP of $48,333
Brunei has a small well-to-do economy that encompasses a mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition. Crude oil and natural gas production account for just over half of GDP and more than 90% of exports.
Per capita GDP is among the highest in Asia, and substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and free education through the university level and subsidizes rice and housing. A new monetary authority was established in January 2011 with responsibilities that include monetary policy, monitoring of financial institutions, and currency trading activities.
4. Norway: GDP of $51,959
Norway carry on taking advantage from its fighting fit administer petroleum assets and sound macroeconomic policies, achieving levels of well being and communal unity that have remained high by intercontinental values. The strength of the economy and cautious supervision have helped the financial system to weather the financial crisis well.
3. Singapore: GDP rate of $56,694
As stated by the Economy Watch, “Singapore is one of the most open, and thus competitive, markets in the world. The 2011 World Bank Ease of Doing Business Index ranks Singapore as the best country in the world to do business – ahead of Hong Kong and New Zealand. Singapore is also ranked third in the World Economic Forum’s Global Competitiveness Report behind Switzerland and Sweden” -Economy Watch
2. Luxembourg: GDP of $81,466
This little, constant, lofty-income economy – profiting from its immediacy to France, Belgium, and Germany has in history featured solid growth, low inflation, and low redundancy. The industrial sector, at first subjugated by steel, has developed into an increasingly diversified to take in chemicals, rubber, and other products. Growth in the financial sector, which now accounts for about 28% of GDP, has more than remunerated for the decline in steel.
1. Qatar: GDP of $88,222
Qatar has flourished alot in the last few years with sustained elevated authentic GDP growth in 2011. Qatari establishment throughout the monetary crisis wanted to protect the local banking sector with direct investments into domestic banks.
GDP rebounded in 2010 largely due to the augmentation in oil prices and 2011′s growth was supported by Qatar’s investment in expanding its gas sector. Qatar’s proved reserves of natural gas exceed 25 trillion cubic meters, more than 13% of the world total and third largest in the world.
Richie O'Flaherty | Elite.