If wealth describes power, then the United Sates leads the pack and India is not far behind either.
The 10 richest countries in the world based on their GDP are:
1. United States of America:
The United States of America is the richest country in the world and ranks first on the list. The U.S. is a market-oriented economy where private individuals and business companies make most of the decisions. The U.S. economy is the world’s largest national economy, with an estimated GDP of $15.1 trillion in 2011.
China is the second richest country in the world. China’s annual GDP growth is 2.26 percent earning $7,743.144 trillion. The country’s economy is the second largest in the world after that of the United States. During the past thirty years China’s economy has changed from a centrally planned system that was largely closed to international trade to a more market-oriented one that has a rapidly growing private sector. A chief component supporting China’s rapid economic growth has been exports growth.
Japan is the second Asian country which is on the list. It is the third wealthiest country in the world. Japan is renowned for its aggressiveness in the global economy market having an upper hand in multi-national operation. The country has a USD $6,124.899 trillion. The Japanese economy is the third largest in the world. Japan is the world’s second largest automobile manufacturing country and has the largest electronics goods industry. The country is the world’s largest creditor nation as well. Its economy is highly efficient and competitive in areas linked to international trade, though productivity is far lower in protected areas such as agriculture, distribution, and services.
Germany takes the fourth place on the list. It is also the richest country in Europe and has produced a sum of USD $3,706.970 trillion. Ever since the age of industrialization, the country has been a driver, innovator, and beneficiary of an ever more globalised economy. Germany is the largest national economy in Europe. The country is the world’s second largest exporter and its exports account for more than one-third of national output.
France is the fifth richest country in the world. The country has long been part of the world’s wealthiest and most developed national economies. France is believed to be the second biggest economic strength in Europe due to France’s focus on various industrial support and new age industrialized nations. Achieving USD $2,889.708 trillion booked at the end of year 2011 and 2012 makes France feature on the top five richest nations.
Brazil ranks sixth on the list. It is the richest South American county. The country had a closed nominal GDP of 0.80 percent earning USD $2,617.987 trillion before the end of 2011. The Brazilian economy is the world’s sixth largest by nominal GDP and is expected to become fifth by the end of 2012. Brazil’s earning come directly from their service segment, mining, manufacturing products and farming harvest. The country has moderately free markets and an inward-oriented economy. It is also known to be the fastest-growing major economies in the world with an average annual GDP growth rate of over 5 percent.
7. United Kingdom:
United Kingdom takes the seventh place on the list. UK had an average nominal GDP escalation of 0.58 percent earning USD $2,603.880 trillion at the end of 2011. UK’s GDP per capita is the twenty second highest in the world in nominal terms and the twenty second highest measured by PPP. It is the world’s most globalised countries. Its aerospace industry is one of the largest national aerospace industries and the pharmaceutical industry of the country plays an important role in its economy as well. The British economy is boosted by North Sea oil and gas reserves which was valued at an estimated £250 billion in 2007.
Italy takes the eighth spot on the top 10 list of richest countries in 2012. Italy is a member of the G8 group of leading industrialized countries. The country has broadened its horizons for its industrial and road and rail network developments. Due to this advancement, the country has a nominal GDP of USD $2,287.704 trillion. The country has a diversified industrial economy with high gross domestic product per capita and developed infrastructure. The Italian economy is driven in large part by the manufacture of high-quality consumer goods that are produced by small and medium-sized enterprises.
Russia takes the ninth position on the list. In 2011 Russia’s GDP grew by 4.2 percent, which is the world’s third highest growth rate among leading economies. The country has the ninth largest economy in the world by nominal value and the sixth largest by purchasing power parity. Russia is also abundant in natural gas, coal, oil and precious metals. Russia’s capital, Moscow, is noted to have the highest billionaire population of any city in the world.
Surprisingly India makes it to the top 10 list of richest countries in the world. India takes the tenth place. India has the eleventh largest Economy in the world by nominal GDP and the third largest by purchasing power parity. The country’s present up-to-date development according to GDP is USD $2.012.760.000 million and this was predicted by the economists in the beginning of 2011. As a matter of fact, by means of the assessment, there was an 8.2 percent progress before the year 2011 came to an end.
- World’s Richest Countries (ktrmurali.wordpress.com)