Richest Countries in the World 2022 with Good Tourist Attractions : Current School News

Richest Countries in the World 2022 with Good Tourist Attractions

Filed in Articles by on December 31, 2021

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– Richest Countries in the World –

Would you love to discover the richest countries in the world with their highest GDPs?

Don’t worry, we have come up with our best to disclose to you everything you wanted to know about these countries right here on this page as you keep reading. Cheers!

Richest Countries in the World

Which Country is the Richest in the World 2021?

Experts have discovered that examining each country’s data on GDP per capita based on buying power parity is a considerably more accurate option.

To put it another way, a country’s wealth should be calculated as the sum of all commodities and services (excluding revenue and investments from abroad) multiplied by its population.

So, in the example of Qatar, which is still the world’s richest country, a GDP per capita of $129,360 represents the typical Qatari’s annual income.

The International Monetary Fund (IMF) is well-known for publishing biannual reports on the economic performance of the world’s wealthiest countries based on GDP per capita.

It also uses PPP capita as a secondary source of data for its study. PPP allows for a fair comparison of living standards between countries by factoring in inflation rates and relative cost of living.

1. Qatar

Qatar is the richest country in the world, according to our list of the top ten richest countries in the world. The country’s well-established petroleum sector, which accounts for roughly 85% of exports and 70% of total national revenue, fuels its robust economy, which has outperformed the rest of the world.

Qatar, with a population of only 2.639 million people, benefits from the economic advantages of a small country blessed with large oil reserves.

However, the oil sector has provided the country with surplus revenues in recent years. Apart from that, the tourist industry, as well as steel and fertiliser exports, have all contributed to the country’s coffers.

Qatar’s economy is far from flawless, reliant on migrant labour to keep its engine going.

Qataris are not subject to any taxes, allowing them to enjoy their earnings in full, as well as the government-sponsored national health insurance.

They made the list of the Richest Countries in the World

2. Macau

This former Portuguese colony has risen to become the world’s second wealthiest nation, with a 7.4% growth in GDP per capita, which now stands at $118.099.

It based mostly its thriving economy on tourism and gaming, garnering it the moniker of the world’s largest gambling center.

However, when compared to other gambling economies, Macau has received the biggest benefits from the industry, consistently generating the world’s largest gambling income since 2006.

The number of visitors has also increased, growing by 8% to 16.81 million in the first half of 2018.

Although these sources of income have constantly been provided, efforts to improve the administrative and manufacturing sectors are underway.

3. Luxembourg

They recognized this little European country for its magnificent castles, wonderful cuisines, and that it is the world’s last Grand Duchy.

The country’s robust economy, however, more than compensates for its small size. They rank Luxembourg third among the world’s top ten wealthiest countries.

The country’s GDP per capita increased by 3.9 percent from the previous year to $109,199.

Luxembourg’s diversified natural resources are also seen as the key driver of the country’s economic growth, with the steel, industrial, and banking sectors generating most of the country’s revenue.

It has also attracted banks from all around the world because of its low taxes, as seen because it has over 150 banks.

With an economy noted for innovation and low inflation rates, conservative economic policies have also contributed to the country’s economic prosperity.

4. Singapore

With a GDP per capita of $98, 255, up 4.4 percent from 2017, this cosmopolitan city-state of 5.612 million people is known as Asia’s wealthiest nation and by far the fourth richest in the world.

It has amassed wealth that other countries can only dream of, despite its small size, lack of natural resources, and lack of agricultural area.

Singapore’s economy continues to thrive today, fuelled mostly by foreign investments and commerce. Banking, shipbuilding, and electronics are the most important economic sectors.

Singapore, dubbed the most expensive country on the planet, has lived up to its moniker, with its economy expanding by 3.9 per cent in the second quarter.

The country’s liberal economic policy and multicultural economy have been credited with much of this.

Although the financial services industry remains the country’s economic backbone, the country’s services and manufacturing industries have continually contributed to the country’s economic standing.

5. Brunei Darussalam

Only 400,000 people live in this small Southeast Asia country. But don’t be fooled by its size. Brunei Darussalam has consistently ranked among the world’s top ten wealthiest countries in recent years.

They ranked the country fifth this year, with a GDP per capita of $81,612, up 3.1 percent from 2017. This strong Southeast Asia economy is reliant on oil and natural gas production, which accounts for more than half of the country’s GDP.

Revenue bolsters this from offshore investments and domestic output. Brunei is diversifying its economy by investing in new industries.

The government’s robust economy is reflected in the government’s food and housing subsidies, as well as the provision of free healthcare to its citizens.

6. Ireland

Ireland, a country famed for producing influential writers and beautiful tourist attractions, has grown into one of the world’s wealthiest nations.

It also has one of the greatest living standards in the world because of its robust economy, which is mostly driven by commerce and investment.

The GDP per capita in Ireland has climbed by 6.1 percent to $77.670. Despite reaching an all-time high in 2008, Ireland’s economic growth continues to be the envy of the world.

Foreign investors such as Microsoft, Google, and Apple have transformed the country into a medical, electrical, and computer equipment exporter.

Pharmaceutical and chemical industries, as well as natural resources such as fisheries, minerals, and lumber, all contribute to the country’s economic success.

7. Norway

Norway, a major country in Scandinavia, is endowed with both beauty and charm, as well as a thriving economy.

In actuality, the country’s GDP per capita increased by 3.1 percent in 2018, to $74,318. Industrialisation has contributed significantly to the country’s economic growth, with natural resource and petroleum exploration, as well as fisheries, accounting for most of the economy.

Norway’s monetary policy is independent, which appears to be working to its advantage given its strong productivity, state-sponsored healthcare, and low unemployment rate.

8. United Arab Emirates

The United Arab Emirates (UAE), another Middle Eastern country that relies significantly on petroleum earnings, also reaps benefits from its telecommunications and services sectors. 

Despite being one of the world’s wealthiest countries, it does not rest on its laurels.

It has also been diversifying its revenue streams by investing in high-yielding sectors. This decision has benefited the national economy greatly, with the tourist industry assisting the economy during the global financial crisis of 2007-2009.

However, the UAE has been sustained by a good economic policy, which has resulted in a 2.4 percent increase in GDP per capita, which now stands at $70,262.

9. Kuwait

This small Arab nation, which ranks ninth in our list of the world’s richest countries, is recognized for its petroleum-based economy, with petroleum-based products accounting for 95 percent of its exports.

As a result, it’s no surprise that Kuwait’s GDP per capita has increased by 1.9 percent from the previous year to $66,980.

However, the country is not only the ninth richest country in the world, yet it is also one of the wealthiest member states of the Gulf Cooperation Council, second only to Qatar.

That the country owns roughly 10% of the world’s petroleum reserves hasn’t stopped it from looking for other ways to make money.

In fact, in order to prepare for the future, it has been attempting to diversify into other potential income sources.

10. Hong Kong

This former British colony is now a Chinese special administrative zone, raising whether it is an independent country. This appears to be the case, as the rest of the world treats it.

It is one of Asia’s financial centers, ranking fourth among the world’s 190 economies on the World Bank’s annual Ease of Doing Business survey.

Hong Kong is also a popular startup site since, despite the lack of citizenship, foreigners can own 100% of their company.

It also has the world’s highest concentration of ultra-high net worth individuals ($30 million or more).

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What is the Top 20 Richest Country in the World?

Richest Countries in the World

What is the best way to assess a country’s wealth? You may look at the country’s gross domestic product, or GDP, which shows how much money is in circulation but ignores population.

Looking at GDP per capita would be more accurate, but a country with a high GDP per capita may have such a high cost of living that its citizens aren’t all that wealthy.

However, if you calculate GDP per capita based on purchasing power parity, or PPP, you can get a more accurate picture of a country’s wealth because they factor in inflation rates and the cost of local products and services.

We provide the 20 richest countries in the world in 2021 based on this metric and statistics from the International Monetary Fund.

By the way, since the list’s last update in 2020, two newcomers have joined it, replacing Saudi Arabia and Kuwait.

While Canada remained in 24th place, its PPP decreased to $48,720 from $50,626 the year before.

1. Luxembourg

Luxembourg’s GDP per capita is $118,001118,001 (PPP). The primary economic sectors here are banking, technology, and industry.

2. Singapore

Singapore’s GDP per capita is $97,057 (PPP). Financial services dominate the city state’s economy, and several global corporations have regional offices here.

It’s no wonder that Singapore ranked first on the list of the greatest nations to live and work in 2017.

3. Ireland

Ireland has a per capita GDP (PPP) of $94,392. They base the Irish economy on distilling and brewing, but the country also has thriving pharmaceutical, financial services, and technology businesses.

4. Qatar

Qatar’s GDP (PPP) per capita is $93,508, making Qatar’s population the world’s wealthiest. One of the world’s wealthiest royal hails from the country. Qatar’s major sources of earnings are oil, gas, and petrochemical goods.

5. Switzerland

Switzerland has a per capita GDP (PPP) of $72,874. Switzerland’s major sources of revenue are banking, tourism, and insurance, but it is also a big exporter of commodities like watches, precision instruments, and pharmaceuticals.

6. Norway

Norway’s GDP (PPP) per capita is $65,800 dollars. The Norwegian economy is strongly reliant on natural resources, with petroleum and natural gas, lumber, fishing, and mining being among the country’s most important businesses.

Working in the country’s capital, Oslo, unfortunately, entails having one of the world’s most expensive commutes.

 7. United States

Although the United States boasts the highest number of billionaires in the world, many of its inhabitants are struggling to make ends meet.

Despite this, the United States boasts the world’s largest economy with a GDP (PPP) per capita of $63,416. Most of the country’s economic activity is based on services and industries.

8. Brunei

Brunei’s GDP (PPP) per capita is $62,371, and the Sultan of Brunei is among the world’s wealthiest men. The tiny country’s economy is based primarily on oil and gas.

9. Kong

The GDP (PPP) per capita in Hong Kong is $59,520. This former British colony, now a Chinese special administrative zone, offers tax breaks.

It is called a tax haven since it has no sales taxes, capital gains taxes, or payroll taxes, and it permits foreigners to own 100 percent of the country without having to be a citizen, resident, or national.

Hong Kong is a free-market economy with well-established trade and financial markets on a global scale.

10. Denmark

I have named Denmark one of the happiest countries in the world multiple times since the publication of the World Happiness Report, and it can now also boast of a dramatic gain in relative income.

It has climbed to the top 20 list, as well as the top 10, in the year since 2020, and for a good cause. The GDP (PPP) of this lovely country is $58,932.

Denmark’s economy is mostly centred on service sectors, commerce, and manufacturing, with agriculture and fisheries accounting for only a minor fraction of the total.

Richest Countries in the World

11. Emirates of the United Arab Emirates

The GDP (PPP) per capita of the United Arab Emirates is $58,753. While oil and petrochemicals still account for most of the country’s economy, tourism and construction are still important sectors.

12. San Marino

San Marino has a per capita GDP (PPP) of $58,427. The little country’s major sources of revenue include banking and tourism, as well as clothes, wine, and pottery. Coins and stamps are also an odd yet profitable source of revenue.

13. Netherlands

The GDP (PPP) per capita in the Netherlands is $57,534. The VOC, the world’s first multinational, was founded in the Netherlands, and several of the world’s most well-known multinationals are still based there.

Some of the most important Dutch industries are electronics, manufacturing, chemicals, engineering and construction, oil and natural gas, fishing, and agriculture. Amsterdam, the capital, is one of the top places in the world for tech start-ups.

14. Macau

Macao’s GDP (PPP) per capita is $56,078. The old Portuguese colony is Asia’s gambling capital, so it’s no wonder that the pandemic year dropped the country from second to fourteenth place, with its PPP more than halving from $122,201 the previous year.

With over 40 casinos crammed into a 30 square kilometre area and weak gambling restrictions, it’s a popular travel destination for those wishing to try their luck. Apparel exports are another important source of earnings.

15. Iceland

Iceland has a per capita GDP (PPP) of $55,596. Iceland’s economy is tiny, relying primarily on geothermal and hydropower, as well as fish processing and tourism.

16. Taiwan

Taiwan’s per capita GDP (PPP) is $55,724. Manufactured items, such as machinery and computers, plastics, and vehicles, account for most of the country’s revenue. Taipei, the nation’s capital, is likewise regarded as one of the greatest places for young people.

17. Austria

Austria has a well-developed social market economy and a GDP (PPP) per capita of $55,218. It is primarily reliant on its service sector and tourism, which has helped to mitigate its reliance on Germany.

18. Sweden

Sweden has a per capita GDP (PPP) of $54,146. Services dominate the Swedish economy, but the country is also a major supplier of machinery, automobiles, guns, timber, and paper products. 

Stockholm, the Swedish capital, is regarded as one of the world’s greenest cities.

19. Germany

Germany is the greatest economy in Europe, with a GDP (PPP) per capita of $54,076. While the service sector accounts for most German GDP, the country is also a major exporter of goods, such as equipment, electronics, and automobiles.

With such a thriving economy, it’s no surprise that Germany is home to some of the world’s healthiest cities.

20. Australia

Down Under has a GDP (PPP) per capita of $51,680, making it onto this list. The continent-island-state offers it all: beautiful weather, vibrant cities and night skies, and a diverse range of fauna.

The service sector similarly dominated its economy, although it has a plethora of natural resources, ranking tenth in the world in terms of estimated resource value.

I hope you now know the top richest countries in the world. With their GDP.

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Income and Purchasing Power of Rich Countries

The income per capita, money supply per capita, gross domestic product (GDP) per capita, and even net worth per capita are all examples of money per capita.

For example, income per capita might refer to discretionary income or disposable income per capita.

Discretionary income is money that is available for amusement and other non-essential expenses after these expenses and taxes have been deducted.

The term “per capita” simply refers to the average per person. Thus, a country’s disposable income per capita is computed by adding all the country’s gross income, fewer taxes, and dividing the total by the population.

This is not to be confused with purchasing power parity (PPP), which is another way of calculating a country’s wealth. 

The Big Mac Index is one of the most prominent examples of PPP, which is used to compare pricing for commodities between countries. 

The Organisation for Economic Co-operation and Development (OECD) provided the following disposable income per capita figures for the top ten nations in 2018.

According to the OECD, they define disposable income per capita as household net-adjusted disposable income per capita, and all figures are in US dollars.

Countries employ a variety of indicators to assess their wealth. I list the top 10 countries based on disposable income per capita below. Disposable income per capita refers to how much money a person has after taxes to spend on goods and services.

1. United States

With 326.7 million inhabitants, the United States leads the list, with a disposable income per capita of $53,122.

The country’s GDP was $20.58 trillion in 2018, the highest on our list and the world’s largest economy.

Financial services, professional and commercial services, manufacturing, and health care are all important sectors in the United States.

2. Luxembourg

Luxembourg, a small country with a population of around 608,000 people, has $47,138 in disposable income per capita in 2018, placing it second in the world.

The European country, which is sandwiched between Germany, France, and Belgium, had a GDP of $71 billion. To put things in perspective, the United States has a GDP that is around 300 times that of Luxembourg.

Luxembourg’s economic prosperity is because of banking, which has helped the country become a global financial hub.

3. Switzerland

In 2018, Switzerland’s per capita disposable income was $41,561. 1 It has a population of 8.5 million people and a GDP of $590.5 billion.

The country has a robust market economy, attractive tax regulations, a strong financial and tourism sector, and a trained workforce. Pharmaceuticals, gold, watches, and jewellery are Switzerland’s principal exports.

4. Germany

Germany has a per capita disposable income of $40,699 dollars. It has an estimated population of 82.9 million people and is a major exporter, particularly of automobiles, as it is home to major automakers such as Volkswagen, Daimler, and BMW. Germany has a GDP of $4.5 trillion and is a major chemical exporter.

5. Australia

The disposable income per capita in Australia was $40,237. In 2018, Australia’s GDP was $1.34 trillion, with a population of about 25 million people.

The country is rich in natural resources, as seen by one of the country’s key economic engines—mining.

6. Norway

In 2018, Norway’s per capita disposable income was $39,570. Norway is a natural resource-driven economy based on oil, fishing, and metals, with a population of 5.3 million people and a GDP of $359 billion.

However, Norway’s sovereign wealth fund, which is mostly backed by the country’s oil industry, is valued at slightly over $1.15 trillion.

7. Austria

Austria, a European country, has a per capita disposable income of $38,333 in 2018. The country has a population of 8.8 million people and a GDP of $503 billion.

Also, the country’s shift toward privatisation, i.e. less regulation, has strengthened the economy in recent years.

The energy industry drives most of the country’s economic growth, with renewable energy accounting for roughly 30% of total domestic consumption.

8. Belgium

Belgium, another European country, makes the top ten list of countries with a disposable income per capita of $36,044 dollars.

In 2018, Belgium had a population of 11.4 million people and a gross domestic product of $597 billion dollars. Chocolate shops and manufacturers are famous all around the world.

However, Belgium’s economic strength, given its position, is exporting, particularly autos and medicine.

Belgium surprisedly made the list of one of the richest countries in the world in 2021

9. Netherlands

In 2018, the Netherlands had a per capita disposable income of $35,914 and a GDP of $991 billion. It had a population of 17.2 million people in that year, and natural gas finds had contributed too much to its recent development. They refine its most important export petroleum.

10. Canada

In 2020, Canada will have a disposable income per capita of $35,772. The country has a population of 37 million people and a GDP of $1.86 trillion.

The discovery of oil sands in Alberta has driven the country’s economy, and it is now one of the world’s top oil producers. Cars, gold, and auto parts are among the other top exports.

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Wealth in Small Countries

Although the world’s largest countries appear to be powerful, they do not always have as much money as they appear.

Using data from the Economist, we’ve rounded up some of the world’s tiniest countries where residents earn a startling amount of money.

1. Bahamas

A handful of these countries are on our list because they are stable nations with an economy based mostly on luxury tourism and offshore banking.

Despite the fact that the Bahamas has a population of only 377,374, millions of tourists visit the island each year to stay in an unlimited number of hotels and resorts.

2. United Arab Emirates

The United Arab Emirates, one of the world’s most prosperous countries, is a prime example of a country that derives most of its wealth from oil and natural gas.

But the country has amassed vast sums of money by constructing a slew of small islands and some of the world’s tallest structures, generating more cash than it knows what to do with.

also, the United Arab Emirates made the list of one of the smallest and the richest countries in the world

3. Brunei

Because of a combination of foreign and indigenous entrepreneurship, as well as strong government regulation and cost-cutting, this tiny country boasts a prosperous economy.

Crude oil and natural gas exports found this Asian country, but it is no longer its exclusive source of revenue.

4. Andorra

Despite its small size of 468 square kilometres, Andorra has roughly 270 hotels and 400 restaurants, which is a major contributor to the country’s prosperous economy.

The country receives roughly 13 million tourists each year despite having just 79,218 citizens, resulting in astronomically high revenue.

Andorra made the list of one of the smallest and the richest countries in the world.

5. Kuwait

Kuwait is slightly larger at 17,820 square kilometres (still tiny when you compare it to the United Kingdom at 243,610 square kilometres).

However, it contains the world’s fifth-largest oil reserves, accounting for roughly 10% of global reserves.

Also, the country is so wealthy that residents are exempt from paying taxes because oil exports account for roughly 80% of the government’s revenue.

What is the Richest Country in Each Continent?

This is where you’ll learn about the wealthiest countries on the continent, as well as their GDP.

1. Nigeria

Nigeria is Africa’s richest and most populous country. The country’s 211 million-strong population is certainly a factor in its high GDP.

Nigeria is a middle-income country with a diverse economy with burgeoning banking, service, communications, and technology industries. Nigeria has the biggest GDP of any African country.

2. Qatar

Qatar, a West Asian republic on the Arabian Peninsula’s northeastern coast, is Asia’s richest country, with a per capita GDP of $70,799 USD.

The country has a coastline along the Persian Gulf and shares its only land border with Saudi Arabia.

Qatar’s economy relies on petroleum and liquefied natural gas exports. It generates 70% of the country’s government revenue, over 85% of export earnings, and 60% of GDP.

Qatar has an enormous oil stockpile that can keep the economy running at current levels for another 23 years.

Long-term ambitions for the country include economic diversification to lessen reliance on oil, a rapidly dwindling resource.

Look at the top ten richest countries in the world that are in Asia.

Rank Country Per Capita Income (USD)
1 Qatar 70,779.52
2 Singapore 64,041.42
3 Israel 41,644.08
4 United Arab Emirates 40,711.45
5 Japan 39,305.78
6 Brunei 32,413.92
7 Korea 31,345.62
8 Kuwait 30,839.20
9 Bahrain 25,850.50
10 Saudi Arabia 23,566.38

3. The United States

The United States of America has a GDP per capita of $64,606, making it the world’s largest national economy and one of the country’s wealthiest nations.

Its apparent GDP is nearly one-fourth of nominal world GDP, at $17.295 trillion. The United States has an entrepreneurial economy that is fuelled by natural resources. Buyers’ spending accounts for over 71 percent of the country’s GDP.

Look at the top ten richest countries in the world that are in North America

Rank Country GDP Per Capita (USD)
1 United States 62,605.59
2 Canada 46,260.71
3 The Bahamas 34,002.62
4 Aruba 25,466.43
5 St. Kitts and Nevis 18,203.29
6 Barbados 17,961.18
7 Antigua and Barbuda 17,636.07
8 Trinidad and Tobago 16,223.46
9 Panama 15,679.04
10 Costa Rica 11,744.44

4. Luxembourg

Luxembourg has the highest per capita GDP of any country on the continent, making it both the richest country in Europe and the richest country on the planet.

Luxembourg has been stable for decades, and solid governance has aided its economic growth.

It’s iron and steel industry accounts for 7% of the country’s GDP, and it is home to ArcelorMittal, the world’s largest steelmaker.

In order to diversify the economy, he has prioritised the development of the country’s technology and financial services businesses.

In the state, there are about 155 banking companies, many of which are foreign-owned. 

Luxembourg has a high-speed communication infrastructure and many data centres, allowing it to give extensive worldwide connection to the international network.

Government incentives, low corporation taxation, a friendly business environment, and a stable labour force support the country’s economic prosperity.

Look at the top ten richest countries in the world that are in Europe

Rank Country GDP Per Capita (USD)
1 Luxembourg 114,234.24
2 Switzerland 82,950.28
3 Norway 81,694.63
4 Ireland 76,098.59
5 Iceland 74,278.17
6 Denmark 60,692.42
7 Sweden 53,873.38
8 Netherlands 53,106.38
9 Austria 51,509.03
10 Finland 49,845.02

5. Uruguay

In terms of GDP per capita, Uruguay is the wealthiest country in South America. The country is in the southeast of South America, covering an area of around 176,000 square kilometres. The country’s population is 3.42 million people.

Look at the top ten richest countries in the world that are in South America

Rank Country Per Capita GDP
1 Uruguay 17,164.89
2 Chile 16,078.71
3 Argentina 11,626.92
4 Brazil 8,967.66
5 Peru 7,002.09

Natural Resources of Top Richest Countries in the World

We defined natural resources as a country’s naturally occurring reserves of earthly materials and energy. 

The globe is rapidly depleting its natural resources, which is a well-known truth in this period of economic and technological change.

With the rapid growth in population, there has been a corresponding rise in demand for these resources, raising the prices of crude oil, natural gas, and coal.

Although natural resources exist in many types of mineral reserves, the great demand for fuels makes them the backbone of each country’s economy.

As a result, the countries with the greatest natural reservoirs have the world’s most prosperous economies.

Following is the list of countries with the most natural resources: That makes part of the richest countries in the world

1. Russia 

Russia, a former international superpower, controls the world’s greatest share of natural resources.

It encompasses most of the coal, timber, and gold reserves because of its gigantic size. Russia possesses the world’s second-largest coal resource, as well as the world’s third-largest gold reserve.

It also features the world’s second-largest deposit of earthy minerals. The overall value of Russia’s natural resources is estimated to be around $75.5 trillion.

2. United States of America

Following Russia is the world’s current superpower, the United States. They estimate natural resources to be worth $45 trillion in total. The United States holds 31.2 percent of the world’s coal reserves.

The timber and coal deposits account for 89 per cent of the country’s resources. The United States is one of the top five countries in the world for gold, copper, and natural gas reserves.

This country is also fortunate to have 750 million acres of forestland, which produces a significant amount of lumber.

3. Saudi Arabia

Saudi Arabia, the crown of the Middle East and the heart of the Muslim world, is ranked third on the list, with natural resources and reserves valued at up to $34.4 trillion.

Arab oil accounts for over 20% of the world’s total oil production. Hydrocarbons, such as oil and gas, are the country’s primary power generation sources.

The Arabian state is now ranked as the country with the fifth-largest proven natural gas reserves.

4. Canada

The overall cost of the country’s natural resource reserves is $33.2 trillion. Canada is ranked fourth on the list because of its overall oil sands deposits.

According to the most recent figures, the country has 178.1 billion barrels of oil reserves, accounting for 17.8% of total global oil reserves, second only to Saudi Arabia.

Canada also contains vast phosphate reserves, the world’s second-largest uranium deposits, and the world’s third-largest lumber output rate.

5. Iran

Because they are in the same region, Iran and Qatar share the richest gas reserves. As a result, the total value of natural resources is nearly $27.3 trillion.

The country holds 16 percent of the world’s natural gas reserves. It sits above the vast Dome of Gas Reservoirs in the Persian Gulf.

The country now has around 136.2 billion barrels of reserves, which is over 10% of the world’s total oil reserves.

6. China

They regarded China as one of the century’s developing superpowers. It has $23 trillion in total reserves.

This country is abundant in coal and other earthly resources. China’s entire coal deposits account for 13% of the world’s total coal reserves.

Shale gas reservoirs have identified just in the country, which will add to the country’s cash creation.

8. Australia

Australia, being a self-sufficient nation, derives most of its riches from its vast deposits of coal, copper, timber, and iron.

However, Australia has a large gold resource, accounting for 14.3 percent of the global supply. It also provides 46 percent of the world’s uranium supply.

It also possesses a massive natural gas reserve off the coast, which it shares with Indonesia.

9. Iraq

Iraq’s principal resources, like those of other Gulf states, are oil deposits estimated to be worth 115 billion barrels.

These deposits account for about 9% of the world’s total reserves. Most of the deposits have yet to be used and are undeveloped because of political turmoil and disputes.

Iraq also is a country with $1.1 trillion worth of phosphate rock deposits in the world.

I hope you find this article interesting. You now know the Richest Countries in the World. Please don’t forget to share with friends and thanks for reading.

CSN Team.

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