Question

WHICH IS THE MOST RICHEST COUNTRY IN THE WORLD?​

Answer 1

Answer:

The European country of Luxembourg has been classified and defined as the richest country in the world. The findings are based on the gross domestic product values of the countries. The GDP is calculated by dividing the total GDP of the country by the population size, and from there, you'll end up with the GDP value per capita within a country.

The GDP value per capita of a country is an excellent way of measuring the wealth of a country because it takes into account the standard of living. By taking the GDP of a country and comparing it to the GDP of another country, you'll be able to accurately determine which country is richer than another, with a few other factors being taken into consideration as well.

Looking at Luxembourg in particular, the GDP of the country in 2017 was 107,053 USD. In 2019, the country's GDP increased to 119,719 USD.

Norway

The GDP of Norway ranks as the second largest in the world. Back in 2017, Norway’s GDP registered as 74,571 USD. Two years later, in 2019, the country experienced a heightened jump to a GDP value of 86,362 USD.

Switzerland

Switzerland is yet another European country that made the list of top five wealthiest countries based on GDP per capita. The GDP of Switzerland is currently 83,833 USD. This is much higher than the GDP of Switzerland in 2017, which was registered as being 80,069 USD.

Ireland

The GDP of Ireland is 81,477 USD. Compared to the GDP of the country in 2017, the current Irish GDP is nearly 11,000 USD greater than it was. For reference, Ireland's GDP in 2017 was 70,220 USD.

Iceland

The European country of Iceland has a current GDP of 78,181 USD. Two years prior, Iceland was documented as having a GDP of 73,529 USD.

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