In this piece, we will take a look at the five countries with the highest GDP per capita. For more countries, head on over to 30 Countries with the Highest GDP per Capita.
5. Norway
GDP Per Capita in 2023: $88,750
Norway is a Nordic country that relies primarily on petroleum products for its export revenues. Its state owned oil company, Equinor, is one of the largest oil companies in the world. Norway has the highest GDP per capita among the Nordic countries, and it is one of the few Western countries with significant state ownership of crucial industries such as telecommunications and energy. Norway has a $504 billion GDP and an $88,750 GDP per capita.
4. State of Qatar
GDP Per Capita in 2023: $89,420
The State of Qatar is an Asian Arabic country. It has a $221 billion GDP, and has grown in importance in the global energy supply chain of late due to a strong liquefied natural gas (LNG) industry that has seen massive demand for its products from Europe in the wake of its energy supply chain crisis due to the Russian invasion of Ukraine. Therefore, naturally, almost 90% of Qatar’s exports come from petroleum products, and it has a high GDP per capita of $89,420.
3. Switzerland
GDP Per Capita in 2023: $94,830
Switzerland is a prosperous European country. It has a well developed financial services sector, with Swiss banks famous all over the world for their secrecy. However, one of these, Credit Suisse, is in trouble these days, and the latest on the matter is that UBS has asked the Swiss government to help it cover $6 billion in expenses for merging with the distressed bank. Switzerland’s GDP is $807 billion and it has a GDP per capita of $94,830.
2. Republic of Ireland
GDP Per Capita in 2023: $107,000
The Republic of Ireland is a European country with a strong medical products industry that fuels the country’s export base. However, it is also a source of significant controversy due to potentially lenient tax laws that have allowed firms to set up subsidiaries in the country – a fact that has also led to claims of an inflated GDP per capita. Ireland has a $519 billion GDP and a high GDP per capita of $107,000.
1. Luxembourg
GDP Per Capita in 2023: $128,820
Topping our list of the world’s richest countries in terms of GDP per capita is the Grand Duchy of Luxembourg. Commonly known as Luxembourg, the country has a vibrant astronautics industry, as it aims to become the world’s hub for futuristic industries such as asteroid mining. Right now though, Luxembourg exports a wide variety of manufactured goods such as iron blocks, machinery, turbines, broadcasting equipment, and more. It has an $82 billion GDP and a whopping GDP per capita of $128,800.
Disclosure: None. You can also take a look at 10 Hot Growth Stocks To Buy Now and 10 Best Canadian Gold Stocks to Buy.
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