Top 10 Richest Countries In The World
1. United States of Americ
United
States of America is the richest country in the world. Their GDP level is $
20.89 trillion. GDP per capita of United States of America is $ 63,413. Purchasing power parity is $ 20.89
trillion. The success of America is depended on several factors. An
entrepreneurial environment that encourages hard work and long hours certainly
helps.
2.
China
The
Chinese economy, one of the fasted growing economies of the 21st
century, now ranked as the second largest economy in the world. Currently
valued GDP is $14.86 trillion. The main reasons for achieved above mentioned
GDP level is China’s belt and road initiative effectively merging its foreign
and economic policy. GDP per capita is $
10.434 and GDP-purchasing power parity
is $17,204.
3.
Japan
The
Japan is the 3rd richest country in the world. Their GDP level is $
5.06 trillion and GDP per capita is $ 39048.Further GDP –purchasing power
parity is 5.24 trillion. Japan is ranked as one of the most innovative
countries in the world. Japan is the world’s largest electronic producer and
the 3rd largest automobile manufacturer.
4.
Germany
The
total value of exports and imports is equal to 86.9% of GDP.GDP value of
Germany is 3.85 trillion and GDP per capita is $ 45,466. Germany is a European
nation with the biggest drivers of its economy being its service industries,
including telecommunications, healthcare and tourism. The country is ranked no
1 in the world for entrepreneurship due to its skilled labour force, highly
developed infrastructure and technological expertise.
5. United
Kingdom
It
is the 5th largest economy in the world and the 2nd
largest in Europe in terms of GDP.The UK ranks high in the annual global
competitiveness report . They currently records $ 2.76 trillion GDP and GDP per
capita $39,229. Further GDP purchasing power parity is $2.98trillion.
6. India
The
republic of India is a federal democracy that consists of 28 states and 8 union
territories. It is the largest democracy and the 6th largest economy
in the world. Since 2014,the rate of foreign direct investment (FDI) inflows to
India has grown steadily as some key policy changes were incorporated by
government to facilitate the same. GDP of India is $2.66 trillion and GDP per
capita is $ 1877.
7. France
France
is the 7th largest economy in the world. Their main income is
tourism industry. The value of imports and exports comprise 63% of the country’s
GDP. Strong protection of property rights and efficient regulatory framework
encourage investors. GDP level of France in 2022 is 2.63 trillion and GDP per
capita is $39257.
8. Italy
Italy economy is the 3rd largest in the Eurozone and the 8th largest by GDP. In addition to its sizeable economy, Italy is one of the most influential countries in Europe. They have recorded $1.88 trillion. Further they have GDP per capita $ 30657 . Italy is diversified economic growth is propelled by the consumer goods industry. GDP’s expenditure side included 61% of households consumption.
9. Canada
Canada has a mainly service based economy. The threshold for foreign investment in Canada is CAD 5 million for direct investments and CAD 50 million for indirect investments. Canada GDP in 2022 is $1.64 trillion. It also has extensive trading ties with many nations due to its bilateral and regional free trade agreements.
South
Korea has recorded $ 1.63 trillion GDP in 2022. In 1960 south Korea was
considered as a developing country. South Korea places great importance of
education, innovation and investment into research and development. The Country
has high skilled workforce earnings a high median household income. GDP pf the
country consist 59% from service sector, Industry 38% and agriculture 2%
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