When you think of the wealthiest countries in the world, you are probably considering GDP per capita. In this article, we list the top 10 richest countries based on GDP per capita, as estimated by the International Monetary Fund (IMF). However, if you are looking for the GDP per capita of China or the US, this list may surprise you, as the countries that emerge on top are some of the smallest on the map.
Methodology for ranking richest countries in the world
Gross Domestic Product (GDP) measures the total value of goods and services produced in a country. By dividing this number by the number of full-time residents, we get an idea of the general populace’s wealth. However, a more precise measure of a nation’s wealth considers inflation rates and the costs of local products and services.
By considering both factors, we derive the Purchasing Power Parity…
