- The United States is the richest country in the world with the highest GDP, as of 2021.
- China is the second richest country in the world with a $17.734 trillion GDP.
- Monaco is the richest country in the world when measured by GDP per capita.
Economic wealth can be a prime statistic to measure whether a country is growing economically and moving forward, according to Investopedia. Gross domestic product trends can also be utilized to identify economic recessions.
Another measurable statistic to track a country’s success is GDP per capita. This calculates a nation’s GDP, but accounts for its population as well, enabling a closer look at the economic strength of each citizen.
What is the richest country in the world? Where does the United Statesstand? What about China?
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What is the richest country in the world byGDP?
As of 2021, the richest country in the world by GDP is the United States, according to the World Bank Group. The U.S. has a GDP of $22.996 trillion, paired with a GDP per capita of $69,287. The U.S. makes up 23.93% of the total global economy, says Investopedia.
The World Bank Group lists China as the second richest country in the worldas of 2021, possessing a GDP of $17.734 trillion along with a GDP per capita of $12,556.3. China makes up 18.45% of the total global economy. The top two richest countries in the world combined harbor 42.38% of the world’s economy.
The third richest country in the world by GDP is Japan at $4.937 trillion in GDP and a $39,285.2 GDP per capita.
According to the International Monetary Fund, GDP is “the monetary value of final goods and services…produced in a country in a given period of time (say a quarter or a year).” GDP is commonly used to measure a country’s economic wealth.
What is the richest country in the world by GDP per capita?
Monaco is the richest country in the world when measured by GDP per capita, according to the World Bank Group. Monaco possesses a $173,688.20 GDP per capita, based on its most recent value in 2020.
Liechtenstein, based on 2019 figures, held a $169,049.20 GDP per capita, making it the second richest country in the world when calculating GDP per capita.
Luxembourg is the third richest country in the world when calculating GDP per capita. As of 2021, it measured at $135,682.8.
GDP per capita represents “a country’s economic output per person,” according to Investopedia, and it is found by dividing the country’s GDP by its population.
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Who is the richest person in the world?
Elon Musk is the richest person in the world, with a total net worth of $254 billion as of August 2022, according to the Bloomberg Billionaires Index.
Elon Musk is the chief executive of multiple companies, includingTesla, which reached a $1 trillion market cap, Space X and Neuralink, says Business Insider.
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