We bring you the latest list of the top 50 richest countries in the world as of 2023 and their respective GDPs.
When people think about the world’s richest countries, what comes to mind most often are the awe-powerful industrial and economic global giants, such as the United States or the United Kingdom.
When it comes to gross domestic product (GDP) – per capita (GDP divided by the total population), the order is a little different than you would expect— superpowers like the United States, China, and the UK are not necessarily in the lead.
If you’re curious about how many countries there are in the world right now, check out the full list of all countries in the world today.
Well, as talk about the richest countries in the world surfaces, there’s always the question of which are the poorest countries in the world.
Let’s take a look at the top 50 richest countries according to GDP per capita.
Top 50 Richest Countries In The World 2023
GDP per capita for all 50 countries was determined from the International Monetary Fund’s April 2023 world economic outlook findings.
|Top 10 Richest Countries In The World
|GDP Per Capita
|The United Arab Emirates
|The United States
Turkey is the 50th richest country in the world with a GDP per capita of USD 37,330, well above the global average but somewhat low compared to its European counterparts.
Turkey’s economy relies heavily on agriculture, particularly wheat, beets, milk, poultry, and cotton. Agriculture accounts for a quarter of employment and is a large portion of its exports.
Guyana is a small country on the northern coast of mainland South America. It is one of the richest countries in the world.
Guyana’s economy took a sharp turn in 2015, with the discovery of a large oil reserve in the country’s marine territory.
Today, Guyana has one of the fastest-growing GDPs in the world, with growth rates topping 26% and a GDP per capita of USD 38,260.
48. The Slovak Republic
The Slovak Republic, also known as Slovakia, is a country of just 5.5 million people in Central Europe. With a GDP per capita of USD 38,620, it is the forty-eighth richest country in the world.
Its riches are owed to its booming services sector which is dominated by foreign trade— mostly automobiles, machinery, and metals— and real estate.
Aruba is a small island in the Caribbean Sea and, with a GDP per capita of USD 39,510, it is the forty-seventh on the list of the 50 richest countries in the world.
Although independent, it is a part of the Kingdom of the Netherlands. Being the picture-perfect location for a beach holiday, Aruba’s primary industry is tourism, which makes up a whopping 80% of the overall GDP.
46. The Bahamas
The only thing better than paradise is a rich paradise. That sums up the Bahamas, number forty-six on the list of richest countries in the world.
The Bahamas is in North America. You should read more about the 7 world continents and oceans map.
Over 50% of The Bahamas’ GDP is driven by tourism, although recently construction has emerged as a top sector.
Portugal is the forty-fifth richest country in the world, with a GDP per capita of USD 40,940.
Despite being a wealthy country, the cost of travel and living in Portugal is notoriously low compared to its European counterparts, making it an emerging top destination for digital nomads and entrepreneurs.
Next on the list of the richest countries is Hungary, with a GDP per capita of USD 40,940. Its main industries include automotive, telecommunications, and technology.
Poland is number forty-three on the list of richest countries in the world, with a GDP of USD 41,680.
It is one of the fastest-growing economies in the European Union. But recently Poland has experienced increased geopolitical conflict with neighboring Belarus.
42. Puerto Rico
The Caribbean Island of Puerto Rico is a territory of the USA and the forty-second richest country in the world with a GDP per capita of USD 42,760.
Puerto Rico is a tax haven for billionaire US investors and business owners, which has led to an influx of rich US citizens from the mainland USA and an outflux of middle-class Puerto Ricans to the mainland USA.
Puerto Rico’s economy is manufacturing-driven, although tourism, including destination conferences and meetings, is also an important sector.
Estonia is a Baltic State in Northern Europe. Despite its small size labor force of just 693,00, Estonia is number forty-one on the list of richest countries in the world, with a GDP per capita of USD 44,780.
Estonia’s main industries include engineering, electronics, technology, and timber.
Fortieth on the list is Spain, with a GDP per capita of USD 46,410. It also has an impressive overall GDP of USD 1.44 trillion, the fifth largest in Europe and the fifteenth in the world.
As one of the most popular travel destinations in the world, the tourist industry is a significant driver of Spain’s economy.
Lithuania is the thirty-ninth richest country in the world in 2023, with a GDP per capita of USD 46,480.
Lithuania is a small Baltic state with a population of just 2.8 million. Its economy is characterized as highly advanced and is accompanied by liberal civil rights like strong press freedom, democracy, and stable governance.
Lithuania experienced very fast economic growth up until the global recession in 2009, earning it the unofficial nickname, “Baltic Tiger.”
Related Post: List of the 50 US states in alphabetical order.
38. The Czech Republic
The Czech Republic is not only one of the most culturally rich and historic hubs in Central Europe, but it is also one of the richest countries in the world, with a GDP per capita of USD 47,530.
Its economy is export-centric of which the main sectors are services and manufacturing, including automobiles, oil processing, and energy trading.
While innovation and entrepreneurship are on the rise, a distinct disadvantage is that a large chunk of dividends is paid to foreign owners.
Cyprus is a small island nation in the eastern Mediterranean Sea. It is the thirty-seventh richest country in the world in 2023, with a GDP per capita of USD 48,440.
Cyprus is an attractive location for offshore businesses including global financial institutions due to its low tax rates. In addition, it has a bustling tourist and shipping industry.
Slovenia is a small mountainous nation in central Europe. With a GDP per capita of USD 48,530, it is the thirty-sixth country on the list of the richest countries in the world.
Slovenia’s economy is trade-based, with its primary trade partners being other European Union countries and its economy ranking as the 32nd freest market in the world.
Japan is a quintessential example of modern society— it is comprised of a highly skilled and educated workforce and is characterized by mass urbanization.
It is the thirty-fifth richest country in the world, with a GDP per capita of USD 48,810, and a giant overall GDP of USD 4.91 trillion, the third-largest in the world.
The thirty-fourth richest country in the world is the historic nation of Israel, with a GDP per capita of USD 50,200.
Historically, Israel has had a massive influence on global religion and politics and continues to influence the world today. But it has also established itself as more than just the setting for ancient Christian history, it is emerging as a top global hub for technology, entrepreneurship, and industrial manufacturing.
Among many things, Italy is a symbol of luxury, being home to several high-end clothing brands including Gucci, Dolce & Gabbana, Giorgio Armani, and car brands like Maserati, Ferrari, and Lamborghini.
Well, money fuels a taste for fine things, so it is no surprise that Italy is one of the richest countries in the world with a GDP per capita of USD 50,220 and an overall GDP of USD 2.06 trillion.
32. New Zealand
The south pacific island of New Zealand is perhaps best known for its breathtaking natural beauty, but it is also one of the richest countries in the world.
It has a GDP per capita of USD 50,410. It is a leading exporter of agricultural products, raw materials, and manufactured goods including cheese, wine, gold, timber, and light crude oil.
The thirty-first richest country in the world is Kuwait, a small middle eastern nation in the Persian Gulf, bordered by Iraq and Saudi Arabia.
It has a GDP per capita of USD 50,920. Kuwait’s economy is heavily based on petroleum, of which it owns about 10% of the world’s reserves.
It’s petroleum-centric economy and coastal position have made it geopolitically vulnerable; it was the subject of an invasion by Iraq in 1990 following oil disputes.
30. South Korea
South Korea is the 30th country on the list of the richest countries in the world according to GDP per capita (USD 53,050) and the twelfth richest country in the world according to overall GDP (USD1.8 trillion).
South Korea’s economy went through a monumental transformation, transitioning rapidly from an impoverished nation after achieving independence, to a middle-income country by the end of the 1980s.
Today, South Korea is known for its highly educated and skilled labor force and maintains its position as a high-income industrial powerhouse and a leading manufacturer of ships and electronics.
Twenty-ninth on the list is Malta. The small and picturesque Mediterranean island nation has a GDP per capita of USD 54,650.
Malta has a thriving port due to its convenient location on the sea and proximity to the Suez Canal, making it a popular refueling stop for foreign freight ships.
Other significant economic sectors are the manufacturing of electronics and textiles, and tourism.
28. The United Kingdom
The United Kingdom, or Britain, has historically maintained a high-profile position as one of the world’s most powerful and influential countries and economies.
Today, it is the twenty-eighth richest country in the world, with a GDP per capita of USD 55,300 and a staggering overall GDP of USD 3.38 trillion, the fifth largest on the planet.
27. Saudi Arabia
Saudi Arabia, also known as the Kingdom of Saudi Arabia, is the twenty-seventh richest country in the world with a GDP per capita of USD 55,370.
On top of that, it is in the top 20 richest countries in the world in terms of GDP (USD 1.04 trillion).
The country amassed its riches thanks to its vast petroleum reserves, the second largest in the world and it often dictates global oil prices.
Income disparity is however large in the country, with an estimated 4 million Saudis living below the poverty line.
France is the twenty-sixth richest country in the world, with a GDP per capita of USD 56,040 and a fat GDP of USD 2.94 trillion.
France’s economic rise began after the World War II postwar period and continued healthily into the mid-1970s.
Today the trend continues, albeit more moderately. Its contemporary economy is driven by manufacturing, pharmaceuticals, and of course, tourism with Paris being one of the most visited cities in the world.
Bahrain is one of the richest countries in the world, ranking as the 25th wealthiest country. Bahrain is a tiny island in the Persian Gulf, connected to Saudi Arabia by a single highway.
The island has a GDP per capita of USD 57,420. Bahrain’s economy is the fastest growing and freest in the Middle East.
While oil has historically been the island’s most popular export, comprising 60% of all exports, its oil reserves are diminishing significantly.
However, the island has strategically invested heavily in banking and tourism, which have helped to keep the island’s economy thriving.
The twenty-fourth country on the list of the top 50 richest countries in the world is Canada, with a GDP per capita of USD 57,810.
Canada is a vast country in North America and is well known for its giant moose, maple syrup, and diverse geographical landscape. It is also, one of the smallest countries by population in the region.
The country has a population of about 38 million and is an important international player in diplomacy and development— maintaining active involvement in several international collaborative economic institutions, including the Organization for Economic Co-operation and Development and the World Trade Organization.
The twenty-third richest country in the world is the small Northern European nation of Finland, with a GDP per capita of USD 58,010.
On top of that, Finland has ranked number one on the United Nations World Happiness Report consecutively since 2018— so perhaps the myth is true and money can indeed buy happiness.
Belgium is next on the list of the richest countries in the world, with its towering historical architectural masterpieces and bustling hub of international organizations’ headquarters, no doubt giving off opulent vibes.
It is not a ruse— Belgium is the twenty-second richest country in the world with a GDP per capita of USD 61,590.
Its main exports are cars and automotive equipment, refined petroleum, packaged pharmaceuticals, and diamonds, to name a few.
Australia comprises an entire continent devoted just to one country. Clearly, it is in a league of its own and it is only fitting that it is one of the richest countries in the world, with a GDP per capita of USD 61,590.
With a GDP per capita of USD 62,930, Sweden is the twentieth richest country in the world. Sweden is a quintessential example of a Nordic social welfare-based state.
The Swedish have free healthcare, civil services, education, and high levels of wage equality.
Its main industries are mixed and export-heavy, of which the main outputs are timber, hydropower, automotive products, and arms.
Germany has always played a strong role in global history, asserting itself as one of the world’s leading developed nations, with a GDP per capita of USD 63,270 and the fourth largest GDP in the world (USD 4.26 trillion), it has the wealth to back it up.
Germany is no doubt one of the richest countries in the world It is the leading manufacturer in Europe and a world-class exporter of vehicles, chemical goods, and electronic products just to name a few, with exports accounting for 41% of its national exports.
Andorra is a tiny independent nation, landlocked between France and Spain. While it only has a population of about 77,000, it is the eighteenth richest country in the world with a GDP per capita of USD63,600.
Being situated in the picturesque Pyrenees mountain range, the country’s leading industry is tourism, which contributes to 80% of the overall GDP.
Iceland is the third most expensive country on the planet, the cost of a beer is a whopping 123% more than in other Nordic nations.
Taking that into consideration, it is no surprise that it is also one of the richest countries on the planet, with a GDP per capita of USD 64,620— you need to have money to spend money, right?
Iceland’s notoriously high cost of travel doesn’t seem to deter visitors, the tourist industry is by far the country’s largest sector, contributing to 33% of the overall GDP.
Austria frequently ranks among the richest countries in the world, and this year is no different, taking sixteenth place with a GDP per capita of USD 64,750.
Up until the 1980s, most of Austria’s leading industry enterprises were state-owned. Since then, many have transitioned to private ownership.
Today, the service sector generates the majority of Austria’s USD479.82 billion GDP, while tourism accounts for about 10%.
But how did Austria get so rich in the first place? Post-World War II, the historic Marshall Plan, a massive European relief and reconstruction plan provided over USD215 million to Austria.
A significant portion of these funds was used to develop national enterprises helping rebuild the economy to what it is today.
15. The Netherlands
The Netherlands is the fifteenth richest country in the world, with a GDP per capita of USD 68,570.
It also ranks extremely high in terms of overall GDP, with a GDP of USD1.01 trillion— for a small country, this is an incredible accomplishment.
The Netherlands is no doubt one of the richest countries in the world.
It holds a quarter of Europe’s natural gas reserves, which supports a significant portion of its economy together with trading goods, and services.
Taiwan is an island nation off the southern coast of China, where the East and South China Seas meet.
After a severe economic decline following World War II, Taiwan shocked economists with a near miracle-like economic recovery, contrary to most economists’ predictions that forecasted the island to fail.
Its miraculous economic growth can be attributed to the country’s rapid rise in non-agricultural labor.
Today, Taiwan’s GDP per capita is a whopping USD68,730, making it the fourteenth richest county in America.
Scandinavia is known for its exceptional standard of living, and as the thirteenth country on the list of the richest countries in the world, Denmark is no different.
Denmark has a GDP per capita of USD69,270 and citizens enjoy ample and high-quality government services like public healthcare, education, and other social services.
Private expenditures account for half of the GDP and the economy is dominated by the service sector.
12. San Marino
San Marino is a tiny country in Europe and is completely landlocked by Italy. The country has a total population of around 33,000.
But what it lacks in size and numbers, it makes up for in riches, as the twelfth richest country in the world.
The GDP per capita is a healthy USD70,140, while the main industries are tourism and banking.
11. Hong Kong
With a GDP per capita of USD 70,450, Hong Kong is one of the richest countries in the world.
Hong Kong owes its exceptional economy to its convenient coastal location, which makes it an important seaport entry for China and has established it as a global international trade and finance hub.
10. Brunei Darussalam
Brunei Darussalam, also known simply as Brunei, is the tenth richest country in the world. The South Asian island territory has a GDP per capita of USD 74,950.
With a population of just 460,345, Brunei also has one of the lowest national debt-to-GDP ratios at 2.86%.
Oil and gas are the main industries that drive this small nation’s giant wealth.
9. The United States
Although the United States ranks as one of the richest countries in the world in 2023 in terms of overall GDP (USD 25.35 trillion), the country’s GDP per capita is just USD 76,030, ranking ninth on our list and surpassed by quite a few smaller European, Middle Eastern, and Asian countries.
This is partly due to the United States staggering population compared to other high-income countries, which is over 330 million.
Check out the top 10 richest states in USA and their respective GDPs.
The eighth richest country in the world is the Northern European Nordic nation of Norway, with a GDP per capita of USD 77,810.
Norwegians enjoy one of the highest standards of living on the globe. Its characteristic egalitarian society has resulted in very low wealth disparities among its 5.3 million population, making the per capita indicator more of a real measure than symbolic, as it often is for other countries.
7. The United Arab Emirates
The United Arab Emirates is a country in the middle east and the seventh on the list of the richest countries in the world with a GDP per capita of USD 78,260.
The United Arab Emirates is known for its highly developed and lavish cities— Dubai and Abu Dhabi— where visitors flock for luxury vacations and shopping.
The country’s impressive economy is supported by a thriving oil and gas industry.
Sixth on our list of the richest countries in the world is Switzerland. Switzerland is known for three things: chocolate, luxury watches, and banks.
The banking industry in Switzerland has a rich history, dating back to the 18th century. Today, Swiss banks are considered world-class and are a top choice for international finance.
Furthermore, the Swiss are highly skilled and educated, ranking in a GDP per capita of USD84, 660.
For those of you who are not familiar with Macao SAR, the Macao Special Administrative Region of the People’s Republic of China is a 118 km2 independent region on China’s southern coast.
Macao SARs economy revolves around gambling. Known as the ‘Las Vegas of Asia’, taxes from the gaming industry generate the majority of government revenue.
As the third top exporter of natural gas and with the world’s third-largest oil reserve, it is no surprise that Qatar is the fourth richest country in the world with a GDP of USD112,790.
Qatar holds one of the world’s highest records for GDP per capita growth, with a growth rate of 1,156% in the 1970s.
The luck of the Irish must be real— as this North Atlantic Island just west of England comes in third as one of the richest countries in the world.
Ireland has a GDP per capita of USD124,600. While Ireland is mostly known for its stunning rolling green hills and rowdy St. Patrick’s celebrations, the country is a global leader in tech, life sciences, financial services, and agribusiness.
The 2nd richest country in the world is Singapore. In the world of economic development, Singapore is regarded as a real-life success story of how a low-income country can achieve rapid economic growth with effort, dedication, and an exceptional development strategy.
In a mere 6 decades, Singapore transformed itself from an underdeveloped nation with a GDP per capita of just $320 in 1960 to a thriving industrialized nation with a whopping USD 131,580 GDP per capita.
No one would have guessed this small landlocked Western European country would trump major economies like the USA and China.
Currently, in 2023, Luxembourg is the richest country in the world. The heavily forested and primarily rural country has an overall GDP of just USD86.9 billion.
But with a population of only 642,371, the GDP goes a long way— USD140,690 per capita to be precise.
Related: Top 10 Richest States in India
Summary of the Richest Countries In the World
There you have it, the list of the top 50 wealthiest countries in the world.
It goes without saying though, that growing and boosting the economy of each country on this list has been one of the major priorities of the government.
For some of these countries, their gross domestic product has been the result of their promising oil and gas sectors, while others have benefited greatly from their tourist attractions, and for some, it’s just an advancement in science and technology.
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