The United Arab Emirates found a place among the world’s richest counties in 2013. The UAE is ranked side by side to Switzerland, Norway, Singapore and Australia in IMF’s World Economic Outlook report for April 2013. The country is said to impress with its average GDP rates. In addition, the United Arab Emirates is found to stand out with the fact that it is determined to diversify its economy.
However, the UAE is not the only country seen on IMF’s list of the wealthiest countries for 2013. Qatar occupies the third spot on the ranking again partly thanks to its ambition to make its economy less dependent on oil and natural gas.
Without a doubt, the top performers on the list are countries from Western and Northern Europe. They make up half of the first 10 states on the chart. A nice change here are Australia, Canada and Singapore which represent the Pacific, North America and Southeast Asia, respectively.
Here is the complete list of the Wealthiest Countries in the World for 2013, according to the International Monetary Fund:
Luxembourg – Although Luxembourg is one of the smallest countries in Europe, its average GDP per capita reached over $112, 000. The fact that this country’s population is equal to barely 0.540 million makes this achievement even more impressive. Luxembourg is no longer a good tax location, but its long history of stable economic growth continues to maintain its position among the richest states on the globe.
Norway – This country enjoys reserves of various natural resources like minerals, fish, hydropower and forests. Despite that, Norway’s economy mainly relies on its petroleum industry. Still, its GDP per capita is estimated at nearly $105,500 in 2013.
Qatar – Over 13% of all natural gas reserves are on Qatar’s territory. In addition, the country has oil reserves of 25 billion barrels. Given that Qatar is a rather small country with a population of under 2 million people, it is no surprise that its GDP is almost $100,000 per person.
Switzerland – This country is popular for its quite efficient services in the banking sector. As a result, it is attracting wealthy people from all over the world. However, Switzerland’s focus on knowledge-based and high-technology manufacturing also adds to its status of a rich country. Its population is calculated at over 8 million people, while its GDP per capita this year is nearly $80,500.
Australia – Over the last two decades, Australia’s economy has been enjoying a strong economic growth. The reason is the country’s services industry which makes up around 70% of its GDP and provides 75% of the job positions. Australia’s GDP is estimated at a little under $67,000, while its population amounts to over 23 million people.
United Arab Emirates – The UAE’s is one of the few countries in the Middle East region that is trying to diversify its oil-dependent economy. The United Arab Emirates now impresses with its aviation and tourism sectors. The country’s GPD per capita is equal to almost $65,000.
Sweden – About half of Sweden’s economy is supported by the engineering industry. Nevertheless, the country also relies a lot on the trade with foreign countries thanks to its rich reserves of iron, timber and hydropower. Sweden’s population is currently 9.597 million and its GDP per capita is $60,000.
Denmark – This country shines in a number of sectors, including agriculture, renewable energy, maritime shipping and pharmaceuticals. That is why Denmark is among the most powerful economies in the European Union with a GDP of over $58,600 per capita for 2013.
Canada – Interestingly, the wealthiest North American country this year is not the US but its neighbouring Canada. During the last half a century, Canada managed to greatly develop its sectors in service, manufacturing, and mining. Lately, the country is also investing in high-technology industries. Canada’s average GDP is slightly under $52,400.
Singapore – Singapore is known as the largest high-technology and financial center in the region of Southeast Asia. It specializes in IT products, consumer electronics and pharmaceuticals. Singapore’s estimated GDP is more than $52,000 per capital and its population amounts to nearly 5.5 million.