Richest Countries Of The World - Top GDP (PPP) Countries In The World

Richest Countries Of The World:


If you are not good with numbers, this topic is going to fall flat while you read.  We are talking about the world’s richest countries and there are some mathematical ways to determine which is the richest.  Let us look at the methods first and then go into the different countries in that order.  The most common method used is to look at the GDP of the country.  In simple terms, you find out how much the country is able to produce with regards to goods and services giving it a value and then divide it by the total population of the country.  This would give you a very good indication as to the money with each person on an average in the country.

The problem with this method is that you may get the numbers, but you don’t take into account the living conditions for which the GDP is taken and the cost of living there.  So we go into a little more complex process where we look at the GDP in conjunction with the Purchasing Power Parity of the country.  In short, it is given as GDP (PPP).  Here what is done is a common numerator unit is taken for all countries where the selling price of the goods and services is in US prices or international dollars equivalent to USD.   Now what was missed out earlier is accounted for and now you have a common index against which to measure the nations.  A few other things considered are the Happiness index and the average life expectancy.

Who do you think comes first in the list after taking all these into account? Qatar.  As can be understood the economy of the country is based on petroleum and LNG.  Before that it was a pearl fishing nation, a poor one at that. Then comes Luxembourg and Liechtenstein in that order.  If you are curious; no, India does not feature in the first 50.


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Location: India

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