The wealth of a country is measured by its GDP. GDP or Gross Domestic Product is the market value of all goods and services produced in a country in a particular period of time. To be the richest country in the world you don’t necessarily have to have the most money. Instead you need to have an economy that produces many good and services. There are a number of organizations that determine the GDP of a country. These include the World Bank and the International Monetary Fund. The calculations made by these organizations often differ quite substantially from country to country and this is because the information used to calculate the GDP is only an estimate.
The World Banks Richest Country
According to the World Banks estimates in 2009, Qatar was the richest country in the world with a GDP of 91,379 international dollars per capita. The top five richest countries according to the World Bank are:
Qatar, $91, 379
United Arab Emirates, $57,744
The International Monetary Fund’s Richest Country
In 2010, The International Monetary Fund determined that Qatar was the richest country in the world with a GDP per capita of 88,232 international dollars. The top five richest countries according to the International Monetary Fund are:
Luxembourg, $ 80,304
Singapore, $ 57,238
The United States of America ranks 6th on both lists, with a GDP of $45,989 and $47,123 respectively. Some of the other major world countries such as the United Kingdom, China, Australia and Canada rank as follows (Word bank GDP and International Monetary Fund GDP):
United Kingdom: 16th and 20th
China: 85th and 93rd
Australia: 10th and 9th
Canada: 12th and 11th
Note: This information is subject to change.