The Richest Country In the World Is Not the US

Income

Published: March 27, 2024 9:30 am

Indeed, though the United States has the world’s largest economy, it is not considered the world’s richest — at least not by some economic measures. So while the U.S.’s gross domestic product (GDP) totaled over $25 trillion in 2022, with China trailing in second place at nearly $18 trillion, when one accounts for the population, these ranks change considerably. Further, when trying to better approximate the population well-being, GDP has many limitations.

Gross national income (GNI), while it has similar limitations to GDP, at least considers income from outside the country as well and therefore perhaps better reflects a country’s income. For this reason, 24/7 Wall St. chose GNI per capita data from the World Bank to rank countries and determine the richest ones in the world.

The World Bank estimates GNI per capita using several ways, but we chose the purchasing power parity method, which also takes into account the ability to buy the same amount of goods and services in each country. Using this measure, we ranked 193 countries with available current data. Figures are in current international dollars. We listed here the 45 countries with GNIs per capita more than double the world average of $20,593. All additional data came from the World Bank. (The World Bank calculates GDP growth rate of GDP in local currency units.)

GNI per capita in the countries on this list ranges from $41,290 in Portugal to $118,470 in Norway — the richest country in the world. The U.S. GNI per capita of $77,950 ranks ninth highest. China, by the war, ranks 80th by this measure. It is important to note that at least two small countries or principalities — Monaco and Liechtenstein — that tend to rank high on such lists had no data and therefore are not included.

Some of the countries on the list are among the smallest by population and in total area. For example, the list includes 10 countries with less than 1 million residents, five of them with 106,000 residents or less. Eleven of the countries are also among the smallest with less than 2,000 square miles in total area, including nine sitting on less than 1,000 square miles (not even the size of Yosemite Park).

Much like the poorest countries, which are mostly located in sub-Saharan Africa, the richest countries are mostly located in Europe and Northern America, though definitely not all. (Also see: These Are the Poorest Countries In the World.)

Finally, we added measures of average life expectancy at birth and average annual population growth since 2000. For comparison, the world life expectancy is 71.3 years, while the population growth is 1.2%. All the countries on the list have higher life expectancy (with 30 having a life expectancy of over 80 years) and lower population growth.

45. Portugal

Gross national income per capita (PPP method), 2022: $41,290
Gross domestic product (current USD), 2022: $255.2 billion (#49 highest of 189 countries)
GDP growth: +6.8% (#39 highest of 193 countries)
Avg. life expectancy at birth, 2021: 81.1 years (#26 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.1% (#163 highest of 193 countries)
Population, 2022: 10,400,000
Region: Europe and Northern America

44. Poland

Gross national income per capita (PPP method), 2022: $42,390
Gross domestic product (current USD), 2022: $688.1 billion (#21 highest of 189 countries)
GDP growth: +5.3% (#60 highest of 193 countries)
Avg. life expectancy at birth, 2021: 75.6 years (#55 highest of 189 countries)
Avg annual population growth, 2000-2022: -0.2% (#172 highest of 193 countries)
Population, 2022: 36,800,000
Region: Europe and Northern America

43. Estonia

Gross national income per capita (PPP method), 2022: $45,200
Gross domestic product (current USD), 2022: $38.1 billion (#98 highest of 189 countries)
GDP growth: -1.3% (#177 highest of 193 countries)
Avg. life expectancy at birth, 2021: 76.7 years (#47 highest of 189 countries)
Avg annual population growth, 2000-2022: -0.2% (#172 highest of 193 countries)
Population, 2022: 1,348,840
Region: Europe and Northern America

42. Spain

Gross national income per capita (PPP method), 2022: $46,550
Gross domestic product (current USD), 2022: $1,417.8 billion (#15 highest of 189 countries)
GDP growth: +5.8% (#52 highest of 193 countries)
Avg. life expectancy at birth, 2021: 83.2 years (#8 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.7% (#130 highest of 193 countries)
Population, 2022: 47,800,000
Region: Europe and Northern America

41. Czechia

Gross national income per capita (PPP method), 2022: $46,890
Gross domestic product (current USD), 2022: $290.6 billion (#46 highest of 189 countries)
GDP growth: +2.4% (#148 highest of 193 countries)
Avg. life expectancy at birth, 2021: 77.4 years (#43 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.2% (#157 highest of 193 countries)
Population, 2022: 10,700,000
Region: Europe and Northern America

40. Aruba

Gross national income per capita (PPP method), 2022: $47,060
Gross domestic product (current USD), 2022: $3.5 billion (#159 highest of 189 countries)
GDP growth: +10.5% (#11 highest of 193 countries)
Avg. life expectancy at birth, 2021: 74.6 years (#64 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.8% (#125 highest of 193 countries)
Population, 2022: 106,445
Region: Latin America and the Caribbean

39. Lithuania

Gross national income per capita (PPP method), 2022: $47,120
Gross domestic product (current USD), 2022: $71.0 billion (#80 highest of 189 countries)
GDP growth: +2.4% (#142 highest of 193 countries)
Avg. life expectancy at birth, 2021: 74.3 years (#68 highest of 189 countries)
Avg annual population growth, 2000-2022: -1% (#187 highest of 193 countries)
Population, 2022: 2,831,639
Region: Europe and Northern America

38. Slovenia

Gross national income per capita (PPP method), 2022: $47,370
Gross domestic product (current USD), 2022: $60.1 billion (#86 highest of 189 countries)
GDP growth: +2.5% (#139 highest of 193 countries)
Avg. life expectancy at birth, 2021: 80.9 years (#28 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.3% (#150 highest of 193 countries)
Population, 2022: 2,111,986
Region: Europe and Northern America

37. Cyprus

Gross national income per capita (PPP method), 2022: $47,470
Gross domestic product (current USD), 2022: $29.3 billion (#104 highest of 189 countries)
GDP growth: +5.1% (#66 highest of 193 countries)
Avg. life expectancy at birth, 2021: 81.2 years (#25 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.3% (#90 highest of 193 countries)
Population, 2022: 1,251,488
Region: Northern Africa and Western Asia

36. Sint Maarten (Dutch part)

Gross national income per capita (PPP method), 2022: $48,360
Gross domestic product (current USD), 2022: $1.5 billion (#175 highest of 189 countries)
GDP growth: +9.8% (#13 highest of 193 countries)
Avg. life expectancy at birth, 2021: 74.0 years (#72 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.5% (#77 highest of 193 countries)
Population, 2022: 42,850
Region: Latin America and the Caribbean

35. Japan

Gross national income per capita (PPP method), 2022: $48,480
Gross domestic product (current USD), 2022: $4,256.4 billion (#3 highest of 189 countries)
GDP growth: +1.0% (#166 highest of 193 countries)
Avg. life expectancy at birth, 2021: 84.4 years (#3 highest of 189 countries)
Avg annual population growth, 2000-2022: -0.1% (#170 highest of 193 countries)
Population, 2022: 125,124,989
Region: Eastern and South-Eastern Asia

34. Israel

Gross national income per capita (PPP method), 2022: $49,330
Gross domestic product (current USD), 2022: $525.0 billion (#27 highest of 189 countries)
GDP growth: +6.8% (#38 highest of 193 countries)
Avg. life expectancy at birth, 2021: 82.5 years (#16 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.9% (#58 highest of 193 countries)
Population, 2022: 9,557,500
Region: Northern Africa and Western Asia

33. Malta

Gross national income per capita (PPP method), 2022: $50,230
Gross domestic product (current USD), 2022: $18.1 billion (#122 highest of 189 countries)
GDP growth: +6.9% (#37 highest of 193 countries)
Avg. life expectancy at birth, 2021: 82.9 years (#12 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.4% (#84 highest of 193 countries)
Population, 2022: 500,000
Region: Europe and Northern America

32. New Zealand

Gross national income per capita (PPP method), 2022: $50,910
Gross domestic product (current USD), 2022: $248.1 billion (#50 highest of 189 countries)
GDP growth: +2.9% (#130 highest of 193 countries)
Avg. life expectancy at birth, 2021: 82.2 years (#18 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.3% (#90 highest of 193 countries)
Population, 2022: 5,124,100
Region: Oceania

31. South Korea

Gross national income per capita (PPP method), 2022: $51,070
Gross domestic product (current USD), 2022: $1,673.9 billion (#13 highest of 189 countries)
GDP growth: +2.6% (#134 highest of 193 countries)
Avg. life expectancy at birth, 2021: 83.5 years (#5 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.4% (#147 highest of 193 countries)
Population, 2022: 51,628,117
Region: Eastern and South-Eastern Asia

30. Cayman Islands

Gross national income per capita (PPP method), 2021: $52,990
Gross domestic product (current USD), 2022: $6.8 billion (#150 highest of 189 countries)
GDP growth: +3.7% (#108 highest of 193 countries)
Avg. life expectancy at birth, 2021: N/A
Avg annual population growth, 2000-2022: 2.5% (#40 highest of 193 countries)
Population, 2022: 68,710
Region: Latin America and the Caribbean

29. Italy

Gross national income per capita (PPP method), 2022: $53,280
Gross domestic product (current USD), 2022: $2,049.7 billion (#10 highest of 189 countries)
GDP growth: +3.7% (#107 highest of 193 countries)
Avg. life expectancy at birth, 2021: 82.8 years (#13 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.2% (#157 highest of 193 countries)
Population, 2022: 58,900,000
Region: Europe and Northern America

28. United Kingdom

Gross national income per capita (PPP method), 2022: $55,210
Gross domestic product (current USD), 2022: $3,089.1 billion (#6 highest of 189 countries)
GDP growth: +4.3% (#87 highest of 193 countries)
Avg. life expectancy at birth, 2021: 80.7 years (#29 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.6% (#134 highest of 193 countries)
Population, 2022: 67,000,000
Region: Europe and Northern America

27. France

Gross national income per capita (PPP method), 2022: $56,370
Gross domestic product (current USD), 2022: $2,779.1 billion (#7 highest of 189 countries)
GDP growth: +2.5% (#140 highest of 193 countries)
Avg. life expectancy at birth, 2021: 82.3 years (#17 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.5% (#139 highest of 193 countries)
Population, 2022: 68,000,000
Region: Europe and Northern America

26. Canada

Gross national income per capita (PPP method), 2022: $57,760
Gross domestic product (current USD), 2022: $2,161.5 billion (#9 highest of 189 countries)
GDP growth: +3.8% (#101 highest of 193 countries)
Avg. life expectancy at birth, 2021: 82.6 years (#15 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.1% (#107 highest of 193 countries)
Population, 2022: 38,900,000
Region: Europe and Northern America

25. Bahrain

Gross national income per capita (PPP method), 2022: $58,540
Gross domestic product (current USD), 2022: $44.4 billion (#92 highest of 189 countries)
GDP growth: +4.9% (#71 highest of 193 countries)
Avg. life expectancy at birth, 2021: 78.8 years (#36 highest of 189 countries)
Avg annual population growth, 2000-2022: 3.3% (#11 highest of 193 countries)
Population, 2022: 1,472,233
Region: Northern Africa and Western Asia

24. Saudi Arabia

Gross national income per capita (PPP method), 2022: $59,870
Gross domestic product (current USD), 2022: $1,108.6 billion (#17 highest of 189 countries)
GDP growth: +8.7% (#22 highest of 193 countries)
Avg. life expectancy at birth, 2021: 76.9 years (#45 highest of 189 countries)
Avg annual population growth, 2000-2022: 2.4% (#43 highest of 193 countries)
Population, 2022: 36,408,820
Region: Northern Africa and Western Asia

23. Finland

Gross national income per capita (PPP method), 2022: $59,970
Gross domestic product (current USD), 2022: $282.6 billion (#47 highest of 189 countries)
GDP growth: +1.6% (#158 highest of 193 countries)
Avg. life expectancy at birth, 2021: 81.9 years (#20 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.3% (#150 highest of 193 countries)
Population, 2022: 5,556,106
Region: Europe and Northern America

22. Australia

Gross national income per capita (PPP method), 2022: $60,830
Gross domestic product (current USD), 2022: $1,693.0 billion (#12 highest of 189 countries)
GDP growth: +4.3% (#91 highest of 193 countries)
Avg. life expectancy at birth, 2021: 83.3 years (#7 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.4% (#84 highest of 193 countries)
Population, 2022: 26,005,500
Region: Oceania

21. San Marino

Gross national income per capita (PPP method), 2021: $61,060
Gross domestic product (current USD), 2020: $1.9 billion (#171 highest of 189 countries)
GDP growth: +8.5% (#24 highest of 193 countries)
Avg. life expectancy at birth, 2021: N/A
Avg annual population growth, 2000-2022: 1% (#115 highest of 193 countries)
Population, 2022: 33,660
Region: Europe and Northern America

20. Iceland

Gross national income per capita (PPP method), 2022: $65,920
Gross domestic product (current USD), 2022: $28.1 billion (#106 highest of 189 countries)
GDP growth: +7.2% (#34 highest of 193 countries)
Avg. life expectancy at birth, 2021: 83.1 years (#11 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.4% (#84 highest of 193 countries)
Population, 2022: 382,003
Region: Europe and Northern America

19. Germany

Gross national income per capita (PPP method), 2022: $65,990
Gross domestic product (current USD), 2022: $4,082.5 billion (#4 highest of 189 countries)
GDP growth: +1.8% (#155 highest of 193 countries)
Avg. life expectancy at birth, 2021: 80.9 years (#27 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.1% (#163 highest of 193 countries)
Population, 2022: 83,797,985
Region: Europe and Northern America

18. Belgium

Gross national income per capita (PPP method), 2022: $66,490
Gross domestic product (current USD), 2022: $583.4 billion (#25 highest of 189 countries)
GDP growth: +3.0% (#123 highest of 193 countries)
Avg. life expectancy at birth, 2021: 81.9 years (#21 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.6% (#134 highest of 193 countries)
Population, 2022: 11,700,000
Region: Europe and Northern America

17. Kuwait

Gross national income per capita (PPP method), 2022: $67,200
Gross domestic product (current USD), 2022: $175.4 billion (#57 highest of 189 countries)
GDP growth: +8.9% (#19 highest of 193 countries)
Avg. life expectancy at birth, 2021: 78.7 years (#39 highest of 189 countries)
Avg annual population growth, 2000-2022: 3.6% (#6 highest of 193 countries)
Population, 2022: 4,268,873
Region: Northern Africa and Western Asia

16. Sweden

Gross national income per capita (PPP method), 2022: $67,630
Gross domestic product (current USD), 2022: $591.7 billion (#24 highest of 189 countries)
GDP growth: +2.9% (#127 highest of 193 countries)
Avg. life expectancy at birth, 2021: 83.2 years (#10 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.8% (#125 highest of 193 countries)
Population, 2022: 10,486,941
Region: Europe and Northern America

15. Brunei Darussalam

Gross national income per capita (PPP method), 2022: $67,760
Gross domestic product (current USD), 2022: $16.7 billion (#126 highest of 189 countries)
GDP growth: -1.6% (#178 highest of 193 countries)
Avg. life expectancy at birth, 2021: 74.6 years (#63 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.3% (#90 highest of 193 countries)
Population, 2022: 449,002
Region: Eastern and South-Eastern Asia

14. Austria

Gross national income per capita (PPP method), 2022: $67,830
Gross domestic product (current USD), 2022: $470.9 billion (#32 highest of 189 countries)
GDP growth: +4.8% (#76 highest of 193 countries)
Avg. life expectancy at birth, 2021: 81.2 years (#24 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.5% (#139 highest of 193 countries)
Population, 2022: 9,041,850
Region: Europe and Northern America

13. Netherlands

Gross national income per capita (PPP method), 2022: $70,210
Gross domestic product (current USD), 2022: $1,009.4 billion (#18 highest of 189 countries)
GDP growth: +4.3% (#89 highest of 193 countries)
Avg. life expectancy at birth, 2021: 81.5 years (#22 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.5% (#139 highest of 193 countries)
Population, 2022: 17,700,982
Region: Europe and Northern America

12. Macao SAR, China

Gross national income per capita (PPP method), 2022: $73,170
Gross domestic product (current USD), 2022: $24.0 billion (#111 highest of 189 countries)
GDP growth: -21.5% (#192 highest of 193 countries)
Avg. life expectancy at birth, 2021: 85.4 years (#2 highest of 189 countries)
Avg annual population growth, 2000-2022: 2.2% (#52 highest of 193 countries)
Population, 2022: 695,168
Region: Eastern and South-Eastern Asia

11. Hong Kong SAR, China

Gross national income per capita (PPP method), 2022: $73,960
Gross domestic product (current USD), 2022: $359.8 billion (#42 highest of 189 countries)
GDP growth: -3.5% (#182 highest of 193 countries)
Avg. life expectancy at birth, 2021: 85.5 years (#1 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.4% (#147 highest of 193 countries)
Population, 2022: 7,346,100
Region: Eastern and South-Eastern Asia

10. Denmark

Gross national income per capita (PPP method), 2022: $77,370
Gross domestic product (current USD), 2022: $400.2 billion (#40 highest of 189 countries)
GDP growth: +2.7% (#131 highest of 193 countries)
Avg. life expectancy at birth, 2021: 81.4 years (#23 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.5% (#139 highest of 193 countries)
Population, 2022: 5,903,037
Region: Europe and Northern America

9. United States

Gross national income per capita (PPP method), 2022: $77,950
Gross domestic product (current USD), 2022: $25,439.7 billion (#1 highest of 189 countries)
GDP growth: +1.9% (#151 highest of 193 countries)
Avg. life expectancy at birth, 2021: 76.3 years (#52 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.8% (#125 highest of 193 countries)
Population, 2022: 333,287,557
Region: Europe and Northern America

8. Switzerland

Gross national income per capita (PPP method), 2022: $82,940
Gross domestic product (current USD), 2022: $818.4 billion (#20 highest of 189 countries)
GDP growth: +2.6% (#137 highest of 193 countries)
Avg. life expectancy at birth, 2021: 83.9 years (#4 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.9% (#121 highest of 193 countries)
Population, 2022: 8,800,000
Region: Europe and Northern America

7. United Arab Emirates

Gross national income per capita (PPP method), 2022: $88,050
Gross domestic product (current USD), 2022: $507.1 billion (#28 highest of 189 countries)
GDP growth: +7.9% (#29 highest of 193 countries)
Avg. life expectancy at birth, 2021: 78.7 years (#38 highest of 189 countries)
Avg annual population growth, 2000-2022: 4.8% (#2 highest of 193 countries)
Population, 2022: 9,441,129
Region: Northern Africa and Western Asia

6. Ireland

Gross national income per capita (PPP method), 2022: $91,090
Gross domestic product (current USD), 2022: $533.1 billion (#26 highest of 189 countries)
GDP growth: +9.4% (#15 highest of 193 countries)
Avg. life expectancy at birth, 2021: 82.1 years (#19 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.4% (#84 highest of 193 countries)
Population, 2022: 5,127,170
Region: Europe and Northern America

5. Luxembourg

Gross national income per capita (PPP method), 2022: $94,720
Gross domestic product (current USD), 2022: $81.6 billion (#70 highest of 189 countries)
GDP growth: +1.4% (#163 highest of 193 countries)
Avg. life expectancy at birth, 2021: 82.7 years (#14 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.8% (#63 highest of 193 countries)
Population, 2022: 653,103
Region: Europe and Northern America

4. Bermuda

Gross national income per capita (PPP method), 2022: $98,640
Gross domestic product (current USD), 2022: $7.5 billion (#149 highest of 189 countries)
GDP growth: +2.9% (#126 highest of 193 countries)
Avg. life expectancy at birth, 2021: 79.3 years (#33 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.1% (#163 highest of 193 countries)
Population, 2022: 100,000
Region: Europe and Northern America

3. Singapore

Gross national income per capita (PPP method), 2022: $107,070
Gross domestic product (current USD), 2022: $466.8 billion (#33 highest of 189 countries)
GDP growth: +3.6% (#109 highest of 193 countries)
Avg. life expectancy at birth, 2021: 83.4 years (#6 highest of 189 countries)
Avg annual population growth, 2000-2022: 1.5% (#77 highest of 193 countries)
Population, 2022: 5,637,022
Region: Eastern and South-Eastern Asia

2. Qatar

Gross national income per capita (PPP method), 2022: $110,050
Gross domestic product (current USD), 2022: $236.3 billion (#52 highest of 189 countries)
GDP growth: +4.2% (#92 highest of 193 countries)
Avg. life expectancy at birth, 2021: 79.3 years (#34 highest of 189 countries)
Avg annual population growth, 2000-2022: 6.5% (#1 highest of 193 countries)
Population, 2022: 2,695,122
Region: Northern Africa and Western Asia

1. Norway

Gross national income per capita (PPP method), 2022: $118,470
Gross domestic product (current USD), 2022: $593.3 billion (#23 highest of 189 countries)
GDP growth: +3.0% (#122 highest of 193 countries)
Avg. life expectancy at birth, 2021: 83.2 years (#9 highest of 189 countries)
Avg annual population growth, 2000-2022: 0.9% (#121 highest of 193 countries)
Population, 2022: 5,457,127
Region: Europe and Northern America

Read more: Income, bermuda, gross domestic product, gross national income per capita, life expectancy, Luxembourg, norway, richest countries, singapore, united arab emirates, world bank

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