Discover the 25 Richest Countries in the World

This article reveals the current 25 richest countries in the world using the measure most often cited in the media, government, and business reports: Gross Domestic Product (GDP). GDP is the total value of all the goods and services sold in a country in a given year. The GDP figures cited for each country in this list are based on 2023 estimates by the International Monetary Fund and quoted in U.S. dollars. However, remember that many factors determine whether the people in these countries have a comfortable lifestyle, including population size, government spending policies, and the effects of wars and natural disasters.

25. Sweden

With a GDP of $597.1 billion, Sweden is the 25th richest country in the world. Its economy benefits from plentiful hydroelectric power, timber, and deposits of iron ore. Sweden has a mixed economy, with about a quarter of the country’s wealth controlled by the government and the remainder under private ownership.

24. Argentina

Argentina’s GDP of $621.8 billion rests on a foundation of agricultural and mineral wealth. It is one of the world’s major producers of wheat and beef. Gold, silver, and copper account for about $3.8 billion of GDP, but have the potential to expand to $18 billion by 2030. Argentina has struggled over the years with unstable governments and defaults on its debt obligations. Despite this instability, its size and natural resources make it an important business partner for investors.

23. Belgium

Belgium ranks as one of the richest countries in the world, as it has a GDP of $627.5 billion. Its location is strategic: wedged between France, Germany, and the Netherlands and with seaports on the North Sea. The country has a robust manufacturing sector, but 77% of the GDP is based on the provision of services. Brussels is home to EU institutions, giving Belgium an important place in regional politics.

22. Taiwan

With a GDP of $751.9 billion, Taiwan has a highly developed free market economy and a standard of living equal to the world’s other high-income countries. It has been an important manufacturing center for decades but in more recent years has developed technologically advanced electronics and microchip industries. Taiwan’s economic success is all the more remarkable because the People’s Republic of China has made no secret of its desire to take over the island.

21. Poland

A GDP of $842.2 billion places Poland at the 21st spot in the highest GDPs in the world. After freeing itself from communism in 1989, the country rapidly implemented market reforms and political liberalization that are paying off today. Machinery, electrical equipment, vehicles, and plastics are some of Poland’s main exports. Poland is using much of its growing prosperity to upgrade its defense capabilities and is expected to build one of the largest militaries on the continent in the coming years.

20. Switzerland

Despite its small size, Switzerland has achieved a GDP of $905.7 billion. The Swiss have avoided involvement in major European conflicts thanks to a policy of strict neutrality and the strategic difficulty of invading such a mountainous country. Switzerland’s economy profits greatly from international financial services, but other important areas are manufacturing, pharmaceuticals, electronics, and chemicals.

19. Saudi Arabia

Until Saudi Arabia struck oil in 1938, it was largely a forgotten desert country. Today it is an economic powerhouse with an annual GDP of $1.07 trillion. Like many of the world’s richest countries, Saudi Arabia is investing a substantial portion of its budget in defense needs. However, the Saudis are also investing in massive engineering projects, including supertall skyscrapers and a new 110-mile-long linear city concept called “The Line,” projected to house nine million people.

18. Netherlands

The Netherlands’ GDP of $1.09 trillion not only makes the country as a whole one of the richest in the world, but its per capita GDP is higher than that of the EU. Although it is a small country famed for its unique culture and the growth and export of flowers, it also has gas reserves that produce 25% of the natural gas needs of Europe.

17. Türkiye

Turkey officially changed the spelling of its name to Türkiye in 2021. At $1.15 trillion its GDP is one of the highest in the region and the world. A NATO member, Türkiye is strategically important as the guardian of the Bosphorus, where Europe and Asia meet, and the only deep-water access point to the Black Sea.

16. Indonesia

Indonesia ranks fourth in the world in population after the United States. Its GDP of $1.42 trillion also places it near the top of the world’s countries. Jakarta, the capital, is rapidly sinking and is expected to be 1/3 submerged by 2050. Thus, the country is building a new capital city called Nusantara on the island of Borneo, which is expected to draw development to this less-populated part of the country.

15. Spain

Spain, once the custodian of a global empire, today has territories limited to Europe and Northwest Africa. It is richer now than at any time in its history, however, with a GDP of $1.58 trillion. Spain’s cultural influence is evident in the fact that some 500 million people worldwide speak the language.

14. Australia

Australia has a GDP of $1.69 trillion, making it the wealthiest country in Oceania. It is the driest of all the continents but is a major agricultural producer, particularly of sheep and sheep products. Mining is another important industry, as the country has significant deposits of 19 different minerals, including bauxite, iron, lithium, lead, gold, diamonds, and rare earth elements.

13. South Korea

With a $1.7 trillion GDP, South Korea is the fourth-largest economy in Asia. It is a thoroughly developed and technologically advanced nation. Integrated circuits, machinery, and vehicles make up about 39% of its exports. In recent years, South Korea has had a major impact on the entertainment world with K-Pop and K-drama, which have become popular around the globe.

12. Mexico

Mexico has a GDP of $1.81 trillion, making it the 12th richest country in the world. A significant help to the economy is the United States-Mexico-Canada free trade agreement. 90% of Mexico’s exports and 55% of its imports are with its neighbors to the north. In recent years the country has been privatizing government-owned infrastructure, which has contributed to improved economic growth.

11. Russia

Russia is the largest country in the world in land area and one of the largest economically with a GDP of $1.86 trillion. There are huge disparities between the affluent lifestyles of residents of major cities like Moscow and St. Petersburg versus most of the rest of the country with its crumbling infrastructure. Oil and other raw materials are the country’s main source of income. Following its invasion of Ukraine, Russia has been ostracized from the global economy with severe sanctions.

10. Canada

Canada is the 10th wealthiest country in the world with a GDP of $2.12 trillion. As the 2nd largest country in the world, it has vast natural resources including timber, minerals, and hydroelectric power sources. Many potential resources in the frigid Arctic region of the country may become more accessible as the climate warms.

9. Brazil

Brazil has a GDP of $2.13 trillion, putting it in the top 10 of world economies and making it the second largest in the Americas. It is an upper-middle-income country with tremendous natural resources, many of which are still untapped. Along with Russia, India, China, and South Africa, Brazil is part of the BRICS group of leading developing economies, an alternative to Western-dominated development organizations.

8. Italy

Italy is one of the richest countries of the world, with a $2.19 trillion GDP. It is the third-richest country in the EU. Italy is one of the most popular tourist destinations in the world and is also renowned as a center of fashion and culture. Some of Italy’s main exports are engineering products, textiles, machinery, vehicles, and chemicals.

7. France

France has a GDP of $3.04 trillion and is the second-largest economy in the EU. 78.8% of its economy is based in the service sector, while 19.5% comes from industrial production. France is the most-visited tourist country in the world. It is a center of fashion, finance, and high culture with global influence. 320 million people in the world speak French, particularly in former French colonies in northwest Africa.

6. United Kingdom

The United Kingdom is the 6th richest country in the world. Its GDP stands at $3.33 trillion in 2023. The UK participated for decades in the development of the European Union but withdrew from it in 2020. Brexit, as it was called, had mixed results with an overall decrease in GDP of 2-3%. Over half of Britons think Brexit was a mistake, but there is no sign that the decision will be reversed.

5. India

India is a rapidly rising regional power in South Asia with a GDP of $3.73 trillion. With a population of 1.4 billion people, it surpassed China in 2023 as the world’s most populated country. India is becoming a world leader in high technology. It has landed a spacecraft on the moon and successfully placed another in orbit around Mars. India’s film industry is also one of the largest in the world.

4. Japan

Japan’s GDP of $4.23 trillion makes it currently the fourth wealthiest country in the world. Japanese industry has excelled in finding more cost-effective ways to produce cars and other products originally developed in the West. Japan is a world leader in high technology, particularly in the area of robotics. It also is a cultural trendsetter with popular anime media capturing the rapt attention of young fans all over the world.

3. Germany

Germany is the third richest country in the world based on its GDP of $4.43 trillion. Since reunification in 1990, socio-economic disparities still exist between the eastern and western parts of the country. Nonetheless, Germany is the undisputed economic powerhouse of Europe. It enjoys a worldwide reputation for the highest quality engineering and manufactured products.

2. China

With a GDP of $17.7 trillion, China is a stunning economic success story. It overcame the devastation of World War II and the Communist Party’s destructive economic and social policies. Market reforms have led to dramatically expanded trade with the West and rapid modernization of urban areas. China is devoting a substantial portion of its GDP to expanding its military capabilities and investing in infrastructure projects in developing countries.

1. United States

With a gross domestic product of $26.94 trillion, the United States has the largest economy in the world. About 24.5 million millionaires live in the United States. The American dollar is the primary currency of international trade. The United States is the world’s strongest military power and is arguably the world leader in music, film, and other cultural products that enjoy worldwide popularity.

Summary of the Richest Countries in the World

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