What is the richest country in the World in 2016? The name of the country may surprise you. Some of you may not have heard of it.
The top 10 list of richest countries in the world has been organised by per capita income in US dollars.
1. Qatar - $146,000
Qatar's main export is petroleum and LNG (liquefied natural gas) represents 70% of the total revenue of the county. And with only 12% of the country's population being Qatari nationals there is a lot of money to spread around few people.
Qatar is also the host of the 2022 Football World Cup, so the country is gearing up for this by strengthening its infrastructure by building train lines, a metro system, hotels and of course football stadiums.
2. Luxembourg - $94,000
Luxembourg is Europe's second smallest state in the Europe Union who has a main income driven by banking, steel and industrial sectors. With a population of only 500,000 Luxembourg's GDP is high, making it second on our list of richest countries.
3. Singapore - $85,000
Singapore is famous for its banking and trade economy. With a population of 5.3 million people, Singapore is the second densest sovereign state after Monaco.
4. Brunei - $80,000
Brunei is the third-largest oil producer and the fourth largest producer of LNG liquefied natural gas), which combined makes up more than 50% of the country's GDP. With a small population of 418,000 people Brunei is able to share it's wealth among its people.
5. Kuwait - $72,000
Kuwait holds 10% of the world's oil reserves, and is the 4th biggest producer of oil in OPEC. Oil makes up over 50% of Kuwait's GDP and over 95% of the country's export income. Not only that but the Kuwait currency is the highest valued in the world at over $3 per Kuwaiti Dinar.
6. Norway - $68,000
Norway has the world's largest sovereign fund and its economy is fueled by natural reserves in petroleum exploration, hydroelectric power and fishing.
7. United Arab Emirates - $68,000
The U.A.E economy is only second to Saudi Arabia in the Gulf region. With good oil reserves the U.A.E makes 85% of its export income from oil.
8. USA - $57,000
The United States of America has the world's largest economy at currently over $17 trillion. The USA is also the world's largest producer of oil and natural, houses the New York Stock Exchange, the world's largest stock exchange and it is also the world's second largest manufacturer.
9. Switzerland - $56,000
Famous as the world's leading watch-making country it is actually its banking system that makes Switzerland one of the world's richest countries. Due to its policy of long-term monetary security and the countries political stability, Switzerland houses the world's biggest offshore wealth.
10. Saudi Arabia - $56,000
Oil represents almost all Saudi Arabia's total export income. As the world's leading exporter of oil and the world's second largest producer of oil, Saudi has enjoyed wealth for sometime. However, with predicts of its oil depleting and with the USA becoming the world's largest producer of oil, how long Saudi stays within the world's top 10 richest countries is open fore debate.
We hope you found this interesting. There are a few surprises in this list of top 10 richest countries.
