Ranking the richest countries in the world is based on their GDPs (Gross Domestic Products) which has an effect on the per capital income of its citizenry, another analysis also used is the PPP (Purchasing Power Parity) basis which takes into consideration the cost of living and the inflation rates, which is used to compare standards of living of any country
Here we are looking at the richest countries in the world
Based on IMF findings, Qatar is regarded as the richest country in the world with a PPP (Purchasing Power Parity) of $143,532
See below to see the list of the top 10 richest countries based on their PPP calculated in USD(United States Dollars)
1Qatar – $143,532
2 Luxembourg – $93,174
3 Singapore – $85,198
4 Brunei Darussalam – $72,370
5 Kuwait – $71,020
6 Norway – $67,445
7 UAE – $65,149
8 San Marino – $61,836
9 Switzerland – $68,731
10.Hong Kong – $56,428
America has dropped off the ladder of the top 10 richest countries in the world. America currently stands at number 11 on the list of the richest countries in the world (2015).
Beyond looking at the world richest countries from a holistic point of view, lets delve into the World richest on a continental basis, based on GDP per capital, centered on their population.
Richest African Country.
Nigeria is the richest African country with $1.105 trillion followed by Egypt ($996Billion) and South Africa ($724 billion) respectively
Richest Country in Asia
China is the richest country in Asia ($19.510 trillion) China’s GDP grew by 7.9% from 2014)
The Richest European country
Germany is the european richest country with ($3.842 trillion) GDP went up by 2.5% from 2014 followed by Russia ($3.474trillion)
World’s Poorest Country/Countries
Down the ladder, the poorest countries in the world/Africa is the Democratic Republic of Congo with an embarrassing GDP of $394.25 followed by Zimbabwe $589.46 and Burundi $648.58.