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Top Wealthiest Nations in the World

17 May 2012 No Comment

Snigdha Sandip

Wealth is the tool of freedom and the defining aspect of power. Though the global economy is facing a set back, there are countries that are still growing. Let me pen down some of the world’s wealthiest nations that withstand the global depression and acquired wealth. In that list of well-heeled countries,USAheads with an estimated GDP of $15.1 trillion.

1. USA:

TheUSis one of the world’s most ethnically diverse and multicultural countries. It is the world’s largest economy with an estimate of $15.1 trillion GDP in 2011. It has a capitalist-mixed economy, supported by natural resources, highly developed infrastructure and is marked with gross productivity. TheUnited Statesis the largest importer of goods and in exporting, it is the third. The U.S. dollar is the world’s primary reserve currency.

2. China:

 

Chinacomes second in the list. It is the second richest country with an estimated GDP of $7,743.144 trillion. It is the most-populous country in the world and the second-largest in the geographical area.Chinais a socialistic country that discourages capitalism and follows a centrally planned economy. But for the past few years it has changed its policy of collectivization and started a more liberal market-oriented policy of privatization. The main supporting agent for their

economical growth is the country’s exports growth.

 

3. Japan:

 

Japan, the land of the rising sun, is the third in the category. It is the fourth-largest economy in purchasing power parity. This world’s second largest automobile producers have $6,124.899 trillion.Japanis famous for its aggressiveness in global market and always heads multi national operations. It excels in areas like international trade but the productivity is low compared to other areas like agriculture, distribution and services.

 

4. Germany:

Germanyholds the fourth position in the list. It is the richest country inEuropewith an estimate of USD $3,706.970 trillion. It began its successful journey in global economy soon after the industrialization.Germany’s economy is the world’s fourth largest economy and the fifth largest by purchasing power parity. It is the second largest exporter and third largest importer of goods. This innovator has a social market economy with highly qualified labor strength, a large capital resources and a low level of corruption. The service sector is the major contributors for the GDP.

5. France:

Franceis the fifth well-heeled country in the world. It has a long tradition of affluence and wealth. It is believed thatFranceis the second largest wealthiest country inEurope. It has long been holding a place among the world’s wealthiest and most developed national economies. It is the ninth-largest economy measured by purchasing power parity.Francehas achieved a USD $2,889.708 trillion that enables it to stay as one of the richest countries in the world.

6. Brazil:

Brazilis the sixth largest wealthiest country in the world and is the richest South American nation. The country had a closed nominal GDP of 0.80 percent earning USD $2,617.987 trillion in 2011. The Brazilian economy which holds the sixth position in the global economy is expected to be rated as five in the coming year. The main boosters of the Brazilian economy are the service segment, mining, manufacturing products and farming harvest. It has free markets and an inward-oriented economy. It is believed to be positioned among the fastest growing economies with an average annual GDP growth rate of over 5 percent.

7. United Kingdom:

United Kingdomranks the seventh position in the list with an average growth rate of 0.58 percent resulting USD $2,603.880 trillion at the end of 2011. It is the most globalized country.UKeconomy is the first to industrialize.Londonis the world’s largest financial centre along withNew York.UK’s aerospace industry is the second or third-largest national aerospace industry in the world. The pharmaceutical industry plays an important role in theUKeconomy and the country has the third-highest share of global pharmaceutical R&D expenditures. Its economy is fueled withNorth Seaoil and gas reserve that was valued at an estimated £250 billion in 2007.

8. Italy:

Italyholds the eight position in the world’s top ten richest countries. The industrial growth has been marked with road and rail network developments. The country is a member of the G8 group of leading industrialized countries with a nominal GDP of USD $2,287.704 trillion. The Italian economy is boosted with the manufacturing of high-quality consumer goods that are produced by small and medium-sized enterprises. It has a highly developed infrastructure and is blessed with high gross domestic product per capita.

9. Russia:

Russiais the ninth richest county in the world and the sixth largest in the purchasing power parity.Russiais packed with natural resources like gas, oil, coal, and precious metals. After the collapse ofSoviet Unionsignificant changes have seen in the centrally-planned economy.Russiahas started to move from collectivization to more market-based and globally integrated economy. The economic reforms in the 1990s helped Russian to privatize most industries except for energy and defense sectors. In 2011,Russia’s gross domestic product grew by 4.2 percent which is noted to be the world’s third highest growth rate among leading economies.Russia’s capital,Moscow, is noted to have the highest billionaire population in the world.

10. India:

Last but not least let me listIndiaas the tenth wealthiest country in the world. The country is one of the G-20 major economies and a member of BRICS. In 2011, the country’s per capita income stood at $3,694 IMF.Indiais the eleventh largest in the world by nominal GDP and the third largest by purchasing power parity. Before,India’s economy was mishandled with massive inefficiencies and widespread corruption. But later the country adopted a more liberal economic policies and free market principles. The growth has been boosted with large labor force and considerable foreign investments. The country which is among the largest growing economies has USD $2.012.760.000 million.

 

As stated above, these top ten wealthiest countries in the world control the global market and lead the international trades. Do you live there?

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