With over 150+ countries worldwide, while some suffer from extreme poverty, some countries have an economy that is the envy of all. Below is a list of countries whose GDP and GNI (Gross National Income) have made them the richest in the world;
Known globally due to its attractive infrastructure, Singapore sits at third place with a Gross National Income (GNI) per capita of $82,503.
Singapore boasts a GDP of $480.0 billion (39th out of 196 countries). Singapore is an important shipping point, connecting much of mainland Asia to the rest of the world.
This nation deals mainly with the sell of electronic components majorly the integrated circuits which accounts to 36% of the country’s exports. Therefore, Singapore invests more on research and development of electronics industries.
2. Macao SAR, China
With a GNI per capita of $95,304, Macao sits second as one of the most rich regions in the world.
Its GDP is $65.3 billion (98th out of 196 countries)
Macao is a special administrative region of China, meaning it is not fully autonomous, as China handles foreign affairs and defense.
Macao depends largely on casino and gaming activities and is one of the world’s top gaming destinations.
The sector has generated billions of dollars into the economy of this relatively small region.
Of the top 3 richest countries, Macao’s economy is growing fastest with a population of only 0.6 million people.
With a Gross National Income (GNI) per capita of $116,799, Qatar is unarguably the richest country in the world.
In 2017, Qatar’s gross domestic product (GDP) stood at $308.6 billion (51st out of 196 countries)
With a GNI of $116,799, Qatar supercedes any other nation with approximately $20,000.
The country has vast oil reserves than all other nations in the world which equal to 13% of the global supply.
This oil alone earns Qatar billions of dollars year in year out. Oil revenue helps subsidize government services in the country and therefore it’s population of less than 3 million people are well served.
Qatar’s unemployment rate is one of the lowest in the world, at 0.2% due to it’s strong economy.
Petroleum accounts for 87% of its exports and therefore the dominantly relied on resource.
There you have it. Countries whose Gross Domestic Product and Gross National Income make them the envy of the world.
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