Richest Country in the World, List of Top 10 (2024)

A country’s wealth is frequently gauged through its Gross Domestic Product (GDP), which quantifies the total value of goods and services generated within its borders. Currently, the United States claims the status of the richest nation in the world, primarily attributable to its leading position in terms of GDP.

Nonetheless, a country’s economic position can undergo significant changes due to various factors, such as modifications in economic policies, shifts in international trade dynamics and geopolitical transformations.

List of Top-10 Richest Countries in the World

As of 3rd September2023, USA stands on the first position on the list of Richest Country in the world with the GDP of $26,854 B, followed by China, Japan and Germany.

Here is the list of Top 10 Richest Countries in the World:

1. World’s Richest Country: USA

• GDP: $26,854 B
• GDP by Country Per Capita: $80,030
• Annual GDP growth rate: 1.6%

Key points related to world’s richest country, USA:

• USA preserving its pinnacle position of world’s richest country from 1960 to 2023.
• It is home to several major global corporations and financial institutions.
• The USAs GDP per capita ranks among the highest in the world which reflects its high standard of living.
• The USAs stock markets, such as the New York Stock Exchange, are some of the largest and most influential globally.
• The country’s vast natural resources and agriculture productivity support its economic prosperity.

2. World’s Second Richest Country: China

• GDP: $19,734 B
• GDP by Country Per Capita: $13,720
• Annual GDP growth rate: 5.2%

Key points related to world’s second richest country, China:

• China has the second largest economy in the world, following the USA, with a high nominal GDP.
• It is a global economic powerhouse and a major player in international trade and manufacturing.
• China’s rapid economic growth has been fuelled by industrialization, urbanization and export-oriented policies.
• China is a leading exporter of goods, including electronics, machinery, textiles and consumer products which accelerate its economic growth.

3. World’s third Richest Country, Japan

• GDP: $4,410 B
• GDP by country Per Capita: $35,390
• Annual GDP growth rate: 1.3%

Key points related to world’s third richest country, Japan:

• Japan has the third largest economy in the world, following USA and China with a high nominal GDP.
• Japan is known for its advanced technological and industrial prowess, contributing to the economic growth.
• Japan is a global leader in manufacturing, particularly in the automotive and electronics sector.
• The nation’s efficient infrastructure and transportation networks support its economic activities.

4. Germany

• GDP: $4,430 billion
• GDP By Country Per Capita: $52,820
• Annual GDP Growth Rate: -0.1%

The German economy places a strong emphasis on exporting and is well-known for its precision in industries such as engineering, automotive, chemicals and pharmaceuticals. It benefits from a skilled workforce, robust R&D efforts and a strong dedication to promoting innovation.

5. India

• GDP: $3,730 billion
• GDP By Country Per Capita (Nominal): $2,610
• Annual GDP Growth Rate: 5.9%

In the 2023 global GDP rankings, India holds the 5^th position, India’s economy is marked by its diversity and rapid expansion, primarily driven by critical sectors like IT services, agriculture and manufacturing. The country leverages its vast domestic market, a young and tech-savvy workforce and a growing middle class to fuel its economic growth.

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