Richest Countries In The World 2020

A lot of people who swear that they have discovered the secret to overall happiness claim that it has nothing to do with money. There is an incredibly high chance that you have heard the phrase, “Money cannot buy happiness,” at some point in your life. It is one of the most common cliches to ever exist, and while there is a truth behind this blanket statement, there is also a boatload of evidence that shows money can definitely lead you to feel happier overall.

The reason behind this counterargument is that a lot of negative feelings and situations arise from a less-than-ideal fiscal standing. When your credit score is low due to unpaid credit card balances, you can be prevented from leasing a car, purchasing a home, or renting an apartment, among other things. The ability to provide for yourself on a luxurious level, or even to buy the bare necessities human beings need in order to get by, can be severely impacted by your monetary affairs.

Everything in the world costs money, and there really is no exception to such a bold claim. People are quick to retort with the notion that you cannot buy experiences or memories, but the truth of the matter is that you need to have a source of finances in order to go anywhere and experience new cultures, places, or any other travel-related endeavor whatsoever.

You can create memories doing things that don’t require money, but the options are painfully limited and you can only create the same memory of hanging out in your backyard before it becomes dull and not worth storing in your long-term memory. While it is not necessarily true that wealthier people are happier, they are far more capable of paying for anything they need and preventing any stress, anxiety, or depressive symptoms resulting from an inability to afford something you need.

By looking at the GDP per capita, or gross domestic product per capita, of each country around the globe, it is possible to rank countries based on wealth and then compare them to each other. From there, you can determine which countries are wealthiest and then list the countries in descending order, from richest to poorest. Here is the conclusive list of the top fifty-five richest countries in the world, starting with the wealthiest country…

  1. Luxembourg (GDP per capita: $119,719)
  2. Norway (GDP per capita: $86,362)
  3. Switzerland (GDP per capita: $83,832)
  4. Ireland (GDP per capita: $81,477)
  5. Iceland (GDP per capita: $78,181)
  6. Qatar (GDP per capita: $65,062)
  7. The United States of America (GDP per capita: $64,906)
  8. Denmark (GDP per capita: $63,434)
  9. Singapore (GDP per capita: $62,690)
  10. Australia (GDP per capita: $58,824)

Location is a major main player in the overall wealth of a country. Third-world countries in Asia, for example, do not rank very well when GDP is the variable in consideration. If access to certain items and necessities is restricted, then people are already working with a strong disadvantage. Places that are not war-stricken or already burdened with a less-than-ideal economy are not set up to do well in the competition of gross domestic products between countries.

This is why, when looking at the list of the wealthiest countries in the world, you’ll find that places where trade or massive production is a main source of income rank higher on the list. The poorer countries are less involved in global trading, and they are more independent in the sense that their direct involvement in international affairs is lesser than the wealthier countries. This is because money and power are so naturally interwoven, which contributes to the overall wealth and GDP of a country.

For the sake of this discussion, try to focus more on the statistics regarding wealth around the world rather than if riches are necessary in order to enjoy your life. There are five countries in particular that are regarded as the wealthiest countries in the world, and we are going to talk about each one. Let’s get started!

Luxembourg

The European country of Luxembourg has been classified and defined as the richest country in the world. The findings are based on the gross domestic product values of the countries. The GDP is calculated by dividing the total GDP of the country by the population size, and from there, you'll end up with the GDP value per capita within a country.

The GDP value per capita of a country is an excellent way of measuring the wealth of a country because it takes into account the standard of living. By taking the GDP of a country and comparing it to the GDP of another country, you'll be able to accurately determine which country is richer than another, with a few other factors being taken into consideration as well.

Looking at Luxembourg in particular, the GDP of the country in 2017 was 107,053 USD. In 2019, the country's GDP increased to 119,719 USD.

Norway

The GDP of Norway ranks as the second largest in the world. Back in 2017, Norway’s GDP registered as 74,571 USD. Two years later, in 2019, the country experienced a heightened jump to a GDP value of 86,362 USD.

Switzerland

Switzerland is yet another European country that made the list of top five wealthiest countries based on GDP per capita. The GDP of Switzerland is currently 83,833 USD. This is much higher than the GDP of Switzerland in 2017, which was registered as being 80,069 USD.

Ireland

The GDP of Ireland is 81,477 USD. Compared to the GDP of the country in 2017, the current Irish GDP is nearly 11,000 USD greater than it was. For reference, Ireland's GDP in 2017 was 70,220 USD.

Iceland

The European country of Iceland has a current GDP of 78,181 USD. Two years prior, Iceland was documented as having a GDP of 73,529 USD.

Rank Country 2019 Population GDP (IMF '19) GDP (UN '16) Per Capita
1United States331,002,651$21.34 Tn$18.62 Tn$56,267
2China1,439,323,776$14.22 Tn$11.22 Tn$7,794
3Japan126,476,461$5.18 Tn$4.94 Tn$39,029
4Germany83,783,942$3.96 Tn$3.48 Tn$41,509
5United Kingdom67,886,011$2.83 Tn$2.65 Tn$39,005
6France65,273,511$2.76 Tn$2.47 Tn$37,771
7India1,380,004,385$2.97 Tn$2.26 Tn$1,637
8Italy60,461,826$2.03 Tn$1.86 Tn$30,745
9Brazil212,559,417$1.96 Tn$1.80 Tn$8,449
10Canada37,742,154$1.74 Tn$1.53 Tn$40,532
11South Korea51,269,185$1.66 Tn$1.41 Tn$27,526
12Australia25,499,884$1.42 Tn$1.30 Tn$51,156
13Russia145,934,462$1.61 Tn$1.25 Tn$8,538
14Spain46,754,778$1.43 Tn$1.24 Tn$26,463
15Mexico128,932,753$1.24 Tn$1.08 Tn$8,353
16Indonesia273,523,615$1.10 Tn$932.26 Bn$3,408
17Turkey84,339,067$706.24 Bn$863.71 Bn$10,241
18Netherlands17,134,872$914.00 Bn$777.23 Bn$45,359
19Switzerland8,654,622$707.57 Bn$668.85 Bn$77,283
20Saudi Arabia34,813,871$762.26 Bn$639.62 Bn$18,372
21Argentina45,195,774$477.74 Bn$545.87 Bn$12,078
22Sweden10,099,265$547.12 Bn$514.48 Bn$50,942
23Poland37,846,611$593.29 Bn$471.40 Bn$12,456
24Belgium11,589,623$531.81 Bn$467.96 Bn$40,377
25Iran83,992,949$484.66 Bn$425.40 Bn$5,065
26Thailand69,799,978$516.66 Bn$407.03 Bn$5,831
27Nigeria206,139,589$444.92 Bn$404.65 Bn$1,963
28Austria9,006,398$459.59 Bn$390.80 Bn$43,391
29Norway5,421,241$427.04 Bn$371.07 Bn$68,447
30United Arab Emirates9,890,402$427.88 Bn$348.74 Bn$35,261
31Hong Kong7,496,981$381.72 Bn$320.91 Bn$42,806
32Israel8,655,535$381.57 Bn$317.75 Bn$36,710
33Denmark5,792,202$349.52 Bn$306.90 Bn$52,985
34Philippines109,581,078$356.68 Bn$304.91 Bn$2,782
35Ireland4,937,786$381.57 Bn$304.82 Bn$61,732
36Singapore5,850,342$372.81 Bn$296.95 Bn$50,757
37Malaysia32,365,999$373.45 Bn$296.53 Bn$9,162
38South Africa59,308,690$371.30 Bn$295.44 Bn$4,981
39Venezuela28,435,940$76.46 Bn$291.38 Bn$10,247
40Pakistan220,892,340$278.02 Bn$282.51 Bn$1,279
41Colombia50,882,891$336.60 Bn$282.46 Bn$5,551
42Egypt102,334,404$299.59 Bn$270.14 Bn$2,640
43Chile19,116,201$295.61 Bn$247.05 Bn$12,923
44Finland5,540,720$276.57 Bn$238.50 Bn$43,045
45Bangladesh164,689,383$314.66 Bn$220.84 Bn$1,341
46Vietnam97,338,579$260.30 Bn$205.28 Bn$2,109
47Portugal10,196,709$239.47 Bn$204.84 Bn$20,089
48Czech Republic10,708,981$246.16 Bn$195.31 Bn$18,238
49Greece10,423,054$219.75 Bn$192.69 Bn$18,487
50Peru32,971,854$232.08 Bn$192.21 Bn$5,830
51New Zealand4,822,233$210.47 Bn$187.52 Bn$38,886
52Romania19,237,691$244.16 Bn$186.69 Bn$9,704
53Iraq40,222,493$225.26 Bn$160.02 Bn$3,978
54Algeria43,851,044$183.69 Bn$159.05 Bn$3,627
55Qatar2,881,053$193.50 Bn$152.45 Bn$52,915
56Kazakhstan18,776,707$164.21 Bn$135.01 Bn$7,190
57Hungary9,660,351$168.78 Bn$125.82 Bn$13,024
58Kuwait4,270,571$136.94 Bn$110.35 Bn$25,839
59Angola32,866,272$92.19 Bn$106.92 Bn$3,253
60Puerto Rico2,860,853$103.51 Bn$105.03 Bn$36,714
61Morocco36,910,560$121.35 Bn$103.61 Bn$2,807
62Ecuador17,643,054$106.29 Bn$98.01 Bn$5,555
63Ukraine43,733,762$134.89 Bn$93.27 Bn$2,133
64Slovakia5,459,642$109.86 Bn$89.77 Bn$16,442
65Cuba11,326,616-$89.69 Bn$7,918
66Sudan43,849,260-$82.89 Bn$1,890
67Sri Lanka21,413,249$84.16 Bn$81.32 Bn$3,798
68Dominican Republic10,847,910$84.84 Bn$71.58 Bn$6,599
69Kenya53,771,296$99.25 Bn$70.53 Bn$1,312
70Ethiopia114,963,588$90.97 Bn$70.31 Bn$612
71Guatemala17,915,568$82.33 Bn$68.76 Bn$3,838
72Uzbekistan33,469,203$49.20 Bn$67.78 Bn$2,025
73Myanmar54,409,800$65.67 Bn$65.70 Bn$1,207
74Oman5,106,626$79.46 Bn$63.17 Bn$12,370
75Luxembourg625,978$69.63 Bn$58.63 Bn$93,664
76Costa Rica5,094,118$60.46 Bn$57.44 Bn$11,275
77Panama4,314,767$70.16 Bn$55.19 Bn$12,790
78Bulgaria6,948,445$67.04 Bn$53.24 Bn$7,662
79Uruguay3,473,730$60.23 Bn$52.42 Bn$15,090
80Croatia4,105,267$61.25 Bn$51.23 Bn$12,479
81Lebanon6,825,445$58.28 Bn$50.46 Bn$7,393
82Belarus9,449,323$60.95 Bn$47.41 Bn$5,017
83Macau649,335$58.05 Bn$45.31 Bn$69,781
84Slovenia2,078,938$55.09 Bn$44.71 Bn$21,505
85Libya6,871,292$44.96 Bn$42.96 Bn$6,252
86Ghana31,072,940$68.26 Bn$42.79 Bn$1,377
87Lithuania2,722,289$54.24 Bn$42.77 Bn$15,712
88Tunisia11,818,619$36.20 Bn$41.70 Bn$3,529
89DR Congo89,561,403$48.46 Bn$40.34 Bn$450
90Jordan10,203,134$44.26 Bn$38.65 Bn$3,789
91Serbia8,737,371$52.42 Bn$38.30 Bn$4,383
92Azerbaijan10,139,177$45.25 Bn$37.85 Bn$3,733
93Ivory Coast26,378,274$45.25 Bn$36.77 Bn$1,394
94Turkmenistan6,031,200$50.35 Bn$36.18 Bn$5,999
95Bolivia11,673,021$43.69 Bn$33.81 Bn$2,896
96Cameroon26,545,863$39.22 Bn$32.22 Bn$1,214
97Bahrain1,701,575$38.95 Bn$32.18 Bn$18,911
98Latvia1,886,198$35.72 Bn$27.57 Bn$14,618
99Paraguay7,132,538$42.35 Bn$27.17 Bn$3,809
100El Salvador6,486,205$26.99 Bn$26.80 Bn$4,131
101Yemen29,825,964$29.08 Bn$25.37 Bn$851
102Uganda45,741,007$30.37 Bn$25.31 Bn$553
103Trinidad and Tobago1,399,488$22.44 Bn$24.09 Bn$17,211
104Estonia1,326,535$31.03 Bn$23.34 Bn$17,593
105Syria17,500,658-$22.16 Bn$1,266
106Honduras9,904,607$24.65 Bn$21.52 Bn$2,172
107Zambia18,383,955$24.61 Bn$21.06 Bn$1,146
108Nepal29,136,808$28.92 Bn$20.91 Bn$718
109Iceland341,243$24.54 Bn$20.27 Bn$59,399
110Afghanistan38,928,346$19.99 Bn$20.24 Bn$520
111Cyprus1,207,359$24.64 Bn$20.05 Bn$16,603
112Cambodia16,718,965$26.98 Bn$20.02 Bn$1,197
113Papua New Guinea8,947,024$21.45 Bn$19.69 Bn$2,201
114Bosnia and Herzegovina3,280,819$20.15 Bn$16.91 Bn$5,154
115North Korea25,778,816-$16.79 Bn$651
116Zimbabwe14,862,924$22.29 Bn$16.12 Bn$1,085
117Laos7,275,560$20.15 Bn$15.81 Bn$2,172
118Botswana2,351,627$19.65 Bn$15.57 Bn$6,619
119Senegal16,743,927$25.32 Bn$14.60 Bn$872
120Georgia3,989,167$17.21 Bn$14.33 Bn$3,593
121Jamaica2,961,167$16.15 Bn$14.06 Bn$4,747
122Mali20,250,833$17.83 Bn$14.00 Bn$691
123Gabon2,225,734$16.71 Bn$13.86 Bn$6,229
124Palestine5,101,414-$13.40 Bn$2,626
125Nicaragua6,624,554$12.61 Bn$13.23 Bn$1,997
126Mauritius1,271,768$14.81 Bn$12.22 Bn$9,606
127Albania2,877,797$15.96 Bn$11.86 Bn$4,123
128Burkina Faso20,903,273$14.88 Bn$11.70 Bn$559
129Brunei437,479$13.32 Bn$11.40 Bn$26,059
130Chad16,425,864$11.37 Bn$11.27 Bn$686
131Bahamas393,244$13.26 Bn$11.26 Bn$28,638
132Madagascar27,691,018$12.73 Bn$11.22 Bn$405
133Mongolia3,278,290$13.70 Bn$11.16 Bn$3,404
134Malta441,543$15.13 Bn$11.00 Bn$24,909
135Namibia2,540,905$13.96 Bn$10.95 Bn$4,308
136Mozambique31,255,435$15.37 Bn$10.93 Bn$350
137North Macedonia2,083,374$12.88 Bn$10.75 Bn$5,158
138Equatorial Guinea1,402,985$12.43 Bn$10.68 Bn$7,611
139Armenia2,963,243$13.11 Bn$10.57 Bn$3,568
140New Caledonia285,498-$9.45 Bn$33,085
141Benin12,123,200$11.18 Bn$8.89 Bn$734
142Guinea13,132,795$12.62 Bn$8.48 Bn$645
143Rwanda12,952,218$10.21 Bn$8.47 Bn$654
144Republic of the Congo5,518,087$11.16 Bn$7.78 Bn$1,410
145Haiti11,402,528$9.60 Bn$7.65 Bn$671
146Niger24,206,644$9.72 Bn$7.53 Bn$311
147Tajikistan9,537,645$7.70 Bn$6.95 Bn$729
148Moldova4,033,963$12.04 Bn$6.77 Bn$1,679
149Kyrgyzstan6,524,195$8.33 Bn$6.55 Bn$1,004
150South Sudan11,193,725$3.15 Bn$6.53 Bn$584
151Monaco39,242-$6.47 Bn$164,823
152Liechtenstein38,128-$6.19 Bn$162,444
153Bermuda62,278-$6.13 Bn$98,387
154French Polynesia280,908-$5.42 Bn$19,287
155Eritrea3,546,421$7.72 Bn$5.41 Bn$1,527
156Malawi19,129,952$7.44 Bn$5.32 Bn$278
157Fiji896,445$5.32 Bn$4.67 Bn$5,211
158Mauritania4,649,658$5.57 Bn$4.67 Bn$1,004
159Barbados287,375$5.21 Bn$4.55 Bn$15,843
160Togo8,278,724$5.59 Bn$4.45 Bn$537
161Montenegro628,066$5.44 Bn$4.37 Bn$6,964
162Maldives540,544$5.75 Bn$4.22 Bn$7,815
163Eswatini1,160,164$4.66 Bn$4.01 Bn$3,454
164Cayman Islands65,722-$3.84 Bn$58,490
165Sierra Leone7,976,983$4.00 Bn$3.67 Bn$461
166Guyana786,552$3.83 Bn$3.44 Bn$4,369
167Suriname586,632$3.68 Bn$3.28 Bn$5,589
168Curaçao164,093-$3.12 Bn$19,022
169Burundi11,890,784$3.57 Bn$2.87 Bn$242
170Andorra77,265-$2.86 Bn$36,995
171Liberia5,057,681$3.22 Bn$2.76 Bn$545
172East Timor1,318,445$3.15 Bn$2.70 Bn$2,050
173Aruba106,766$2.88 Bn$2.67 Bn$24,980
174Greenland56,770-$2.28 Bn$40,214
175Lesotho2,142,249$2.81 Bn$2.24 Bn$1,046
176Bhutan771,608$2.84 Bn$2.21 Bn$2,868
177Djibouti988,000$2.39 Bn$1.89 Bn$1,914
178Central African Republic4,829,767$2.29 Bn$1.81 Bn$375
179Belize397,628$2.00 Bn$1.74 Bn$4,379
180Cape Verde555,987$2.04 Bn$1.64 Bn$2,948
181San Marino33,931$1.62 Bn$1.59 Bn$46,882
182Antigua and Barbuda97,929$1.72 Bn$1.46 Bn$14,910
183Seychelles98,347$1.65 Bn$1.43 Bn$14,579
184Saint Lucia183,627$1.97 Bn$1.40 Bn$7,608
185Somalia15,893,222$7.90 Bn$1.32 Bn$83
186Comoros869,601$726.00 Mn$1.15 Bn$1,322
187Solomon Islands686,884$1.51 Bn$1.13 Bn$1,651
188Guinea-Bissau1,968,001$1.54 Bn$1.12 Bn$570
189Sint Maarten42,876-$1.07 Bn$25,004
190Grenada112,523$1.27 Bn$1.02 Bn$9,031
191Gambia2,416,668$1.74 Bn$985.83 Mn$408
192British Virgin Islands30,231-$971.24 Mn$32,127
193Turks and Caicos Islands38,717-$917.55 Mn$23,699
194Saint Kitts and Nevis53,199$1.06 Bn$909.85 Mn$17,103
195Vanuatu307,145$942.00 Mn$837.52 Mn$2,727
196Samoa198,414$902.00 Mn$822.23 Mn$4,144
197Saint Vincent and the Grenadines110,940$864.00 Mn$765.32 Mn$6,898
198Dominica71,986$542.00 Mn$581.48 Mn$8,078
199Tonga105,695$493.00 Mn$401.46 Mn$3,798
200Sao Tome and Principe219,159$477.00 Mn$342.78 Mn$1,564
201Anguilla15,003-$337.52 Mn$22,497
202Micronesia115,023$383.00 Mn$329.90 Mn$2,868
203Palau18,094$310.00 Mn$310.25 Mn$17,146
204Cook Islands17,564-$290.19 Mn$16,522
205Marshall Islands59,190$220.00 Mn$183.00 Mn$3,092
206Kiribati119,449$187.00 Mn$173.66 Mn$1,454
207Nauru10,824$114.00 Mn$103.47 Mn$9,559
208Montserrat4,992-$62.05 Mn$12,430
209Tuvalu11,792$49.00 Mn$36.70 Mn$3,112
211Tanzania59,734,218$61.03 Bn--
210Taiwan23,816,775$601.43 Bn--