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.

Richest Countries In The World 2020

Rank Country 2020 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
9Canada37,742,154$1.74 Tn$1.53 Tn$40,532
10South Korea51,269,185$1.66 Tn$1.41 Tn$27,526
11Russia145,934,462$1.61 Tn$1.25 Tn$8,538
12Spain46,754,778$1.43 Tn$1.24 Tn$26,463
13Mexico128,932,753$1.24 Tn$1.08 Tn$8,353
14Indonesia273,523,615$1.10 Tn$932.26 Bn$3,408
15Turkey84,339,067$706.24 Bn$863.71 Bn$10,241
16Netherlands17,134,872$914.00 Bn$777.23 Bn$45,359
17Switzerland8,654,622$707.57 Bn$668.85 Bn$77,283
18Saudi Arabia34,813,871$762.26 Bn$639.62 Bn$18,372
19Sweden10,099,265$547.12 Bn$514.48 Bn$50,942
20Poland37,846,611$593.29 Bn$471.40 Bn$12,456
21Iran83,992,949$484.66 Bn$425.40 Bn$5,065
22Thailand69,799,978$516.66 Bn$407.03 Bn$5,831
23Nigeria206,139,589$444.92 Bn$404.65 Bn$1,963
24Norway5,421,241$427.04 Bn$371.07 Bn$68,447
25United Arab Emirates9,890,402$427.88 Bn$348.74 Bn$35,261
26Hong Kong7,496,981$381.72 Bn$320.91 Bn$42,806
27Israel8,655,535$381.57 Bn$317.75 Bn$36,710
28Denmark5,792,202$349.52 Bn$306.90 Bn$52,985
29Philippines109,581,078$356.68 Bn$304.91 Bn$2,782
30Ireland4,937,786$381.57 Bn$304.82 Bn$61,732
31Singapore5,850,342$372.81 Bn$296.95 Bn$50,757
32Malaysia32,365,999$373.45 Bn$296.53 Bn$9,162
33South Africa59,308,690$371.30 Bn$295.44 Bn$4,981
34Venezuela28,435,940$76.46 Bn$291.38 Bn$10,247
35Pakistan220,892,340$278.02 Bn$282.51 Bn$1,279
36Colombia50,882,891$336.60 Bn$282.46 Bn$5,551
37Egypt102,334,404$299.59 Bn$270.14 Bn$2,640
38Chile19,116,201$295.61 Bn$247.05 Bn$12,923
39Finland5,540,720$276.57 Bn$238.50 Bn$43,045
40Vietnam97,338,579$260.30 Bn$205.28 Bn$2,109
41Portugal10,196,709$239.47 Bn$204.84 Bn$20,089
42Czech Republic10,708,981$246.16 Bn$195.31 Bn$18,238
43Greece10,423,054$219.75 Bn$192.69 Bn$18,487
44Peru32,971,854$232.08 Bn$192.21 Bn$5,830
45New Zealand4,822,233$210.47 Bn$187.52 Bn$38,886
46Romania19,237,691$244.16 Bn$186.69 Bn$9,704
47Iraq40,222,493$225.26 Bn$160.02 Bn$3,978
48Qatar2,881,053$193.50 Bn$152.45 Bn$52,915
49Kazakhstan18,776,707$164.21 Bn$135.01 Bn$7,190
50Hungary9,660,351$168.78 Bn$125.82 Bn$13,024
51Kuwait4,270,571$136.94 Bn$110.35 Bn$25,839
52Puerto Rico2,860,853$103.51 Bn$105.03 Bn$36,714
53Morocco36,910,560$121.35 Bn$103.61 Bn$2,807
54Ecuador17,643,054$106.29 Bn$98.01 Bn$5,555
55Ukraine43,733,762$134.89 Bn$93.27 Bn$2,133
56Slovakia5,459,642$109.86 Bn$89.77 Bn$16,442
57Cuba11,326,616-$89.69 Bn$7,918
58Sudan43,849,260-$82.89 Bn$1,890
59Sri Lanka21,413,249$84.16 Bn$81.32 Bn$3,798
60Dominican Republic10,847,910$84.84 Bn$71.58 Bn$6,599
61Kenya53,771,296$99.25 Bn$70.53 Bn$1,312
62Ethiopia114,963,588$90.97 Bn$70.31 Bn$612
63Guatemala17,915,568$82.33 Bn$68.76 Bn$3,838
64Uzbekistan33,469,203$49.20 Bn$67.78 Bn$2,025
65Myanmar54,409,800$65.67 Bn$65.70 Bn$1,207
66Oman5,106,626$79.46 Bn$63.17 Bn$12,370
67Luxembourg625,978$69.63 Bn$58.63 Bn$93,664
68Costa Rica5,094,118$60.46 Bn$57.44 Bn$11,275
69Panama4,314,767$70.16 Bn$55.19 Bn$12,790
70Bulgaria6,948,445$67.04 Bn$53.24 Bn$7,662
71Uruguay3,473,730$60.23 Bn$52.42 Bn$15,090
72Croatia4,105,267$61.25 Bn$51.23 Bn$12,479
73Lebanon6,825,445$58.28 Bn$50.46 Bn$7,393
74Belarus9,449,323$60.95 Bn$47.41 Bn$5,017
75Macau649,335$58.05 Bn$45.31 Bn$69,781
76Slovenia2,078,938$55.09 Bn$44.71 Bn$21,505
77Libya6,871,292$44.96 Bn$42.96 Bn$6,252
78Ghana31,072,940$68.26 Bn$42.79 Bn$1,377
79Lithuania2,722,289$54.24 Bn$42.77 Bn$15,712
80Tunisia11,818,619$36.20 Bn$41.70 Bn$3,529
81DR Congo89,561,403$48.46 Bn$40.34 Bn$450
82Jordan10,203,134$44.26 Bn$38.65 Bn$3,789
83Serbia8,737,371$52.42 Bn$38.30 Bn$4,383
84Ivory Coast26,378,274$45.25 Bn$36.77 Bn$1,394
85Turkmenistan6,031,200$50.35 Bn$36.18 Bn$5,999
86Cameroon26,545,863$39.22 Bn$32.22 Bn$1,214
87Latvia1,886,198$35.72 Bn$27.57 Bn$14,618
88Paraguay7,132,538$42.35 Bn$27.17 Bn$3,809
89El Salvador6,486,205$26.99 Bn$26.80 Bn$4,131
90Yemen29,825,964$29.08 Bn$25.37 Bn$851
91Uganda45,741,007$30.37 Bn$25.31 Bn$553
92Trinidad and Tobago1,399,488$22.44 Bn$24.09 Bn$17,211
93Estonia1,326,535$31.03 Bn$23.34 Bn$17,593
94Syria17,500,658-$22.16 Bn$1,266
95Honduras9,904,607$24.65 Bn$21.52 Bn$2,172
96Zambia18,383,955$24.61 Bn$21.06 Bn$1,146
97Nepal29,136,808$28.92 Bn$20.91 Bn$718
98Iceland341,243$24.54 Bn$20.27 Bn$59,399
99Cyprus1,207,359$24.64 Bn$20.05 Bn$16,603
100Cambodia16,718,965$26.98 Bn$20.02 Bn$1,197
101Papua New Guinea8,947,024$21.45 Bn$19.69 Bn$2,201
102North Korea25,778,816-$16.79 Bn$651
103Zimbabwe14,862,924$22.29 Bn$16.12 Bn$1,085
104Laos7,275,560$20.15 Bn$15.81 Bn$2,172
105Senegal16,743,927$25.32 Bn$14.60 Bn$872
106Georgia3,989,167$17.21 Bn$14.33 Bn$3,593
107Jamaica2,961,167$16.15 Bn$14.06 Bn$4,747
108Mali20,250,833$17.83 Bn$14.00 Bn$691
109Gabon2,225,734$16.71 Bn$13.86 Bn$6,229
110Palestine5,101,414-$13.40 Bn$2,626
111Nicaragua6,624,554$12.61 Bn$13.23 Bn$1,997
112Mauritius1,271,768$14.81 Bn$12.22 Bn$9,606
113Burkina Faso20,903,273$14.88 Bn$11.70 Bn$559
114Chad16,425,864$11.37 Bn$11.27 Bn$686
115Madagascar27,691,018$12.73 Bn$11.22 Bn$405
116Mongolia3,278,290$13.70 Bn$11.16 Bn$3,404
117Malta441,543$15.13 Bn$11.00 Bn$24,909
118Namibia2,540,905$13.96 Bn$10.95 Bn$4,308
119Mozambique31,255,435$15.37 Bn$10.93 Bn$350
120Macedonia2,083,374$12.88 Bn$10.75 Bn$5,158
121Equatorial Guinea1,402,985$12.43 Bn$10.68 Bn$7,611
122New Caledonia285,498-$9.45 Bn$33,085
123Benin12,123,200$11.18 Bn$8.89 Bn$734
124Guinea13,132,795$12.62 Bn$8.48 Bn$645
125Rwanda12,952,218$10.21 Bn$8.47 Bn$654
126Republic of the Congo5,518,087$11.16 Bn$7.78 Bn$1,410
127Haiti11,402,528$9.60 Bn$7.65 Bn$671
128Niger24,206,644$9.72 Bn$7.53 Bn$311
129Tajikistan9,537,645$7.70 Bn$6.95 Bn$729
130Moldova4,033,963$12.04 Bn$6.77 Bn$1,679
131Kyrgyzstan6,524,195$8.33 Bn$6.55 Bn$1,004
132South Sudan11,193,725$3.15 Bn$6.53 Bn$584
133Monaco39,242-$6.47 Bn$164,823
134Liechtenstein38,128-$6.19 Bn$162,444
135French Polynesia280,908-$5.42 Bn$19,287
136Eritrea3,546,421$7.72 Bn$5.41 Bn$1,527
137Malawi19,129,952$7.44 Bn$5.32 Bn$278
138Fiji896,445$5.32 Bn$4.67 Bn$5,211
139Mauritania4,649,658$5.57 Bn$4.67 Bn$1,004
140Togo8,278,724$5.59 Bn$4.45 Bn$537
141Montenegro628,066$5.44 Bn$4.37 Bn$6,964
142Maldives540,544$5.75 Bn$4.22 Bn$7,815
143Swaziland1,160,164$4.66 Bn$4.01 Bn$3,454
144Cayman Islands65,722-$3.84 Bn$58,490
145Sierra Leone7,976,983$4.00 Bn$3.67 Bn$461
146Guyana786,552$3.83 Bn$3.44 Bn$4,369
147Suriname586,632$3.68 Bn$3.28 Bn$5,589
148Curaçao164,093-$3.12 Bn$19,022
149Burundi11,890,784$3.57 Bn$2.87 Bn$242
150Liberia5,057,681$3.22 Bn$2.76 Bn$545
151Timor-Leste1,318,445$3.15 Bn$2.70 Bn$2,050
152Aruba106,766$2.88 Bn$2.67 Bn$24,980
153Greenland56,770-$2.28 Bn$40,214
154Lesotho2,142,249$2.81 Bn$2.24 Bn$1,046
155Djibouti988,000$2.39 Bn$1.89 Bn$1,914
156Central African Republic4,829,767$2.29 Bn$1.81 Bn$375
157Cape Verde555,987$2.04 Bn$1.64 Bn$2,948
158San Marino33,931$1.62 Bn$1.59 Bn$46,882
159Seychelles98,347$1.65 Bn$1.43 Bn$14,579
160Saint Lucia183,627$1.97 Bn$1.40 Bn$7,608
161Somalia15,893,222$7.90 Bn$1.32 Bn$83
162Comoros869,601$726.00 Mn$1.15 Bn$1,322
163Guinea-Bissau1,968,001$1.54 Bn$1.12 Bn$570
164Sint Maarten42,876-$1.07 Bn$25,004
165Grenada112,523$1.27 Bn$1.02 Bn$9,031
166Gambia2,416,668$1.74 Bn$985.83 Mn$408
167Turks and Caicos Islands38,717-$917.55 Mn$23,699
168Saint Kitts and Nevis53,199$1.06 Bn$909.85 Mn$17,103
169Vanuatu307,145$942.00 Mn$837.52 Mn$2,727
170Samoa198,414$902.00 Mn$822.23 Mn$4,144
171Saint Vincent and the Grenadines110,940$864.00 Mn$765.32 Mn$6,898
172Dominica71,986$542.00 Mn$581.48 Mn$8,078
173Tonga105,695$493.00 Mn$401.46 Mn$3,798
174Sao Tome and Principe219,159$477.00 Mn$342.78 Mn$1,564
175Anguilla15,003-$337.52 Mn$22,497
176Micronesia115,023$383.00 Mn$329.90 Mn$2,868
177Palau18,094$310.00 Mn$310.25 Mn$17,146
178Cook Islands17,564-$290.19 Mn$16,522
179Marshall Islands59,190$220.00 Mn$183.00 Mn$3,092
180Kiribati119,449$187.00 Mn$173.66 Mn$1,454
181Nauru10,824$114.00 Mn$103.47 Mn$9,559
182Montserrat4,992-$62.05 Mn$12,430
183Tuvalu11,792$49.00 Mn$36.70 Mn$3,112
184British Virgin Islands---
185United States Minor Outlying Islands---
186Tanzania59,734,218$61.03 Bn--
187Taiwan23,816,775$601.43 Bn--
188Solomon Islands---
189Svalbard and Jan Mayen---
190South Georgia---
191Pitcairn Islands---
192Norfolk Island---
193British Indian Ocean Territory---
194Heard Island and McDonald Islands---
195Algeria---
196Christmas Island---
197Cocos (Keeling) Islands---
198Botswana---
199Bouvet Island---
200Bhutan---
201Brunei---
202Barbados---
203Brazil---
204Bolivia---
205Bermuda---
206Belize---
207Bosnia and Herzegovina---
208Bahamas---
209Bahrain---
210Bangladesh---
211Belgium---
212Azerbaijan---
213Austria---
214Australia---
215Antigua and Barbuda---
216French Southern and Antarctic Lands---
217Antarctica---
218American Samoa---
219Armenia---
220Argentina---
221Andorra---
222Albania---
223Åland Islands---
224Angola---
225Afghanistan---

Richest Countries In The World 2020