Which are the top 5 richest countries in 2018?
Qatar ($124930)
In 2018, Qatar ranks as the richest country in the world per capita. According to rankings by the International Monetary Fund, the most commonly accepted definition of the wealthiest countries is to determine how rich the average resident of a country is.
With a GDP of about $124 930 per person, the country’s population of approximately 2.27 million are beneficiaries of a healthy economy. The country’s major revenue source is hydrocarbon, which is used for fuel.
The Arab country is located in Southwest Asia. A strait in the Persian Gulf separates Qatar from the nearby island of Bahrain, as well as sharing sea borders with the United Arab Emirates and Iran.
The country is a high income economy and it is regarded as a developed country. The country’s media group, Al Jazeera Media Network continues to expand globally while it will also host the 2022 FIFA World Cup – making it the first Arab country to do so.
Approximately 14% of households in Qatar are dollar millionaires.
Luxembourg ($109190)
With a population of 600 000, Luxembourg’s 2016 growth exceeded the European Union’s overall growth, landing it on the list of the top 5 richest countries in 2018.
Singapore ($90 530)
Singapore experiences a real GDP growth if 2.7% year-on-year in the first quarter of 2017. One of the main contributors to economic growth in Singapore the rebounding of global electronics trades. Economic growth has also been mainly limited to its expert-oriented fields.
Brunei ($76 740)
This major oil exporter has had success in adjusting to downturns in the oil market. The oil price is subject to a vast array of socioeconomic, geopolitical and technology variables.
While global oil production has been flat since the beginning of 2015, Asia is expected to be the key driver of demand growth. The region is home to a number of emerging economies, with rapidly rising demand for a range of products. As economic production increases in these Asian countries, so does the demand for oil.
Brunei could expect to export more oil in 2018.
Ireland ($72 630)
Ireland makes the list of the top 5 richest countries in 2018 and has one of the highest growth rates in Europe, with investment and construction mainly driving GDP growth.