Which are the Richest countries in the World, according to nominal GDP per capita each year? This graphical map looks at the world’s top 25 rich countries by this measure. It is calculated by dividing the Gross Domestic Product of each country by its yearly nominal GDP and comes out with this list every year. The list is ranked according to current exchange rate fluctuations from one US dollar to another.
Some of the reasons that have helped the United States, Japan, and Germany to be on this list all include their ability to maintain their currency strength, a strong education system, liberalizing business laws, technological superiority, and a large population which can afford high levels of taxation and social services. All these things combined have helped the richest countries in the world to stay where they are today. This makes it easier for them to attract the necessary investment to their countries as well.
Now let’s take a look at some examples of what we can expect if we compare the Gross Domestic Product (GDP) of the Richest countries in the world. The first thing to note is that while the United States has the highest GDP per capita of any country in the world (in fact second only to China), it has the lowest level of purchasing power. That means that our trade deficit with the rest of the world is large, and thus we are buying things we don’t really need, but we’re trading away our own civilization, something we could do if we had stronger economy. Japan’s economy is so strong, in fact, that it uses about a quarter of its total gDP to purchase raw materials. That’s a pretty hefty price to pay for something you might think is very important.
Germany has a Gross Domestic Product that is about two-thirds the size of the United States. In fact, it has the second largest economy in all of Europe, next to France. If you combined the economies of the United States and Europe, you’d have a third largest economy in the entire world. Germany has a lot to offer, not just because of its geographic location, but also because of the overall quality of life that is found there. It has a free market, plenty of knowledge, a strong economy, and a culture that attracts thousands of immigrants every year.
One of the countries that comes closest to the United States in terms of wealth and population is Japan. Japan has a bit more than half of the gDP per capita of the United States. This is primarily due to the large number of people that live in Japan, which is close to a hundred million. The population of Japan is aging, so they are aging fast, but their culture will remain relatively young for another decade or two.
There are several wealthy nations in Asia that rank extremely high when comparing all of the G7 nations. Of course, China is the primary world leader when it comes to per capita GDP, but there are other countries that are quickly catching up. Some of these other Asian countries are India, Singapore, South Korea, Taiwan, and Italy. All of these nations have very nice populations, and they all have very high levels of wealth.
There are a few reasons why some of these nations rank very high when it comes to wealth per adult. First, private wealth is much more easily obtained in these countries. Because of this, the average income of an adult Japanese person is over six thousand dollars a year, which is well above the United States and many of the European nations that rank near the top of this list. Second, because Japan does not have a very strict tax system, they have a very attractive tax structure to draw from. Private citizens in Japan earn four hundred thousand dollars on an annual basis. This is quite a bit of money, especially considering the fact that the Japanese economy is currently in recession.
Private citizens in China also earn a lot of money. The country’s annual economic output is about two trillion dollars, and it is a large part of the global economy. The reason why China is so wealthy is because of their huge trade surplus with the United States and other major trading partners. Both Germany and Japan also rank very highly, mainly because of their currencies, which the euro lacks.