04-06-2025
Top 10 richest countries in the world, India, Pakistan nowhere in the list, US is at 9th place, top place goes to...
Top 10 richest countries in the world, India, Pakistan nowhere in the list, US is at 9th place, top place goes to...
Whenever the world's richest countries are discussed, the names of US and China come first in everyone's mind. However, very few people know that these two countries are very low in the list of the world's richest countries.
Singapore
Singapore is the richest country in the world. According to it is a high-income economy, projected to have the highest GDP/capita (PPP) in the world by 2025. It is known for its business-friendly environment and significant investments in infrastructure, education, healthcare, and public services. Since gaining independence in 1965, Singapore has transformed from a low-income country to a high-income country, experiencing remarkable GDP growth rates averaging around 7% annually. Singapore is also a leader in human capital development, ranking highest in the 2020 World Bank Human Capital Index.
Luxembourg
Luxembourg is the second richest country in the world. The country is known for its strong banking and finance sectors. By 2025, Luxembourg is set to rank second in the world in GDP (PPP) per capita. Historically rural and isolated, Luxembourg transformed from a dominant steel industry to a finance-driven economy in the 19th century.
The country's financial sector, including banking and fund administration, is largely international, attracting businesses with its political stability, skilled workforce, and banking secrecy. This secrecy has made Luxembourg a haven for tax avoidance. The financial centre significantly established by the Holding Law of 1929 has developed Luxembourg into a major player in international finance.
Ireland
Ireland is the third richest country in the world. Between 1995 and 2007, Ireland's economy experienced such rapid growth that it was dubbed the 'Celtic Tiger', marking a dramatic shift from being one of the poorest countries in Europe to one of the richest. This period saw an average annual GDP growth rate of 9.4% from 1995 to 2000. Key factors contributing to Ireland's success include low corporate taxes, foreign investment, US economic growth, EU membership, and social partnerships.
During this time, Ireland attracted substantial foreign investment from major US corporations due to its EU membership, low taxes, and skilled, English-speaking workforce. The economy diversified significantly, with substantial growth in the information technology, pharmaceuticals, and financial services sectors.
Qatar
Qatar is the fourth richest country in the world. Qatar's economy can be judged from the fact that it owns most of the expensive areas of London, the capital of the United Kingdom. Qatar's economy experiences remarkable growth and stability, mainly due to its vast petroleum and natural gas reserves. These resources account for more than 70% of government revenue, more than 60% of GDP, and about 85% of export earnings. Qatar is the world's third-largest natural gas exporter and has the third-largest natural gas reserves.
In response to fluctuations in the oil market and to promote economic stability, Qatar is diversifying its economy through the Qatar National Vision 2030, which focuses on growing the private sector and developing a knowledge-based economy. This strategic shift includes substantial investments in infrastructure and education to reduce dependence on oil and gas.
Norway
The European country Norway is the fifth richest country in the world. The country is rich in strategic sectors such as petroleum and natural gas, with a highly developed mixed economy. As of 2025, its GDP is $504.28 billion, with a GDP per capita of $89,690. Agriculture (1.6%), industry (34.7%), and services (63.5%) play a significant role in Norway's economy.
Norway maintains low unemployment and a high standard of living compared to other European countries. Norway's economy benefits greatly from its North Sea oil reserves, which support its strong social system, supported by substantial revenues from oil and gas that contribute more than 70% of government revenues.
Switzerland
Switzerland is the sixth richest country in the world. The country is famous for its wealth and high standard of living. Switzerland's economic prosperity can be gauged from the fact that this country is home to 800,000 millionaires and 1.7% of the world's wealthiest people despite having only 0.1% of the global population. Switzerland's prosperity is attributed not only to its renowned banking sector, but also to innovation, industrialization and political stability.
Switzerland became an industrial nation early, experiencing significant economic growth from the late 19th to the early 20th century, including major industries such as pharmaceuticals, machinery and chemicals.
Brunei
Brunei is the seventh richest country in the world. Brunei's economy is heavily dependent on its petroleum and natural gas sectors and contributes significantly to its GDP. In 2025, Brunei's GDP is projected to be $16 billion. With a population of less than 459,000, Brunei has a high GDP per capita. Brunei's economy benefits from stable growth projections, with expected growth of 2.6% by 2026. The country's financial health is further helped by having no external debt and government debt of only 2.3% of GDP. Brunei is the third-largest oil producer in Southeast Asia and a significant exporter of liquefied natural gas, mainly to Japan and Korea. Despite its wealth, Brunei faces challenges due to its economic dependence on oil and gas, leading to increased efforts towards economic diversification.
Guyana
Guyana is the eighth richest country in the world. Guyana's economy has undergone remarkable transformation, especially since the discovery of significant offshore oil reserves in 2015. By 2025, the country's GDP per capita is set to reach $94,258 (PPP), with an average growth rate of 4.2% over the past decade. Oil exploitation has further accelerated this growth, putting Guyana in the global spotlight with GDP growth of 19.9% in 2021 alone, making it one of the fastest-growing economies worldwide. Guyana has strategically reduced its role in the economy, encouraging foreign investment and privatizing state-owned enterprises, including the timber, rice, and fishing industries. Tax reform and improved laws for mining and oil exploration have further enhanced economic stability and attractiveness to foreign investment.
US
The United States is the ninth richest country in the world. It is the only country in the world with the largest economy by GDP in 2025 to be included in this list. A major component of the US economy is its service sector, which accounts for 80.2% of GDP by sector, with significant contributions from industry (18.9%) and agriculture (0.9%). The country's inflation rate is moderately stable at 2.9% by 2024, with the population below the poverty line seeing a decline, highlighting a reduction in income inequality.
Denmark
Denmark is the tenth richest country in the world. Denmark is a high-income, advanced economy. The service sector accounts for 80% of employment. Manufacturing accounts for about 11%. The country's GDP for 2025 is $449 billion. Denmark follows the Nordic model, which includes high taxes and extensive government services, maintaining a strong social security structure, which accounts for about 26.2% of GDP.
