More You Know: Richest Countries in the World

It’s interesting to look at the richest countries in the world in terms of GDP Nominal (unadjusted for the effects of inflation) and GDP Per Capita (in thousands) in 2020. The countries in the top ten list have little change within the last year. Information for top ten richest countries is from Investopedia.

1. United States at $21.43 trillion ($65,298 Per Capita)
2. China at $14.34 trillion ($10,262)
3. Japan at 5.08 trillion ($40,247)
4. Germany at 3.86 trillion ($46,445)
5. India at 2.87 trillion ($2,100)
6. United Kingdom at $2.83 trillion ($42,330)
7. France at 2.72 trillion ($40,493)
8. Italy at 2.00 trillion ($33,228)
9. Brazil at 1.84 trillion ($8,717)
10. Canada at 1.74 trillion ($46,195)

It will be interesting to see the status of the world 25 years from now, but as of today the breakdown of the global economy is as follows. Information for the breakdown is from The World Bank. It says 168 countries outside the top 25 richest make up less than one fifth of the total global economy. As you can see below, the percentage are staggering.

1. United States makes up 24.41%
2. China makes up 16.34%
3. Japan makes up 5.79%
4. Germany makes up 4.4%
5. U.K, France, Italy, Brazil, and Canada make up 12.67%
6. Russia, South Korea, Australia, Spain, Mexico make up 8.43%
7. Indonesia, Netherlands, Saudia Arabia, Turkey, Switzerland, Poland, Thailand, Sweden, Belgium, Nigeria make up 7.9%
8. The 168 remaining countries make up 16.8

The countries change radically when you measure GDP at PPP (purchasing power parity) value of goods and services divided by the average population of any country. The numbers are 2020 estimates by International Monetary Fund.

1. Luxembourg at $112,875
2. Singapore at $95,603
3. Qatar at $91,897
4. Ireland at $89,383
5. Switzerland at $68,340
6. Norway at $64,856
7. United States at $63,051
8. Brunei at $61,816/(Macau at $58,931)
9. United Arab Emirates at $58,466/(Hong Kong at $58,165)
10. Denmark at $57, 781