World's Richest Countries, rank 1 to 100

[Not Sure]

True,
We have the most Gas+Oil resources in the world. The outsider countries that themselves can not progress, do not like Iran to progress.

Well, I did not mean the oil as your resource. Saudi Arabia has oil, Russia too has oil, US as well. But the happiest people in the world do not come from these countries. And even if you do have the greatest oil reserves, it will not last forever.

Also, it will be a terrible mistake to think that others cannot progress. What you need to do is realize what is the eternal and most coveted resource of your country and then work on to capitalize it. I will give you some examples of your resources - 1. Your land, 2. Your heritage, 3. Your people. And there is no greater resource on earth than the people who are motivated. You will not like my example here, but please do look at Israel. They barely have any oil, but they make sure to use their human capital to the greatest extent, and this is why they are powerful and are developing fast.

So while you do progress and develop, please be humble, and understand that what is stated in my signature will always hold true.

 

[rcrmj]

dont read too much in this title, its meaningless, most of those 'top 30' countries are actually very poor,
rich country should be defined as the majority population's life is content, sufficient and abounded time for leisure activities

 

[IRAN 1802]

Well, I did not mean the oil as your resource. Saudi Arabia has oil, Russia too has oil, US as well. But the happiest people in the world do not come from these countries. And even if you do have the greatest oil reserves, it will not last forever.

Also, it will be a terrible mistake to think that others cannot progress. What you need to do is realize what is the eternal and most coveted resource of your country and then work on to capitalize it. I will give you some examples of your resources - 1. Your land, 2. Your heritage, 3. Your people. And there is no greater resource on earth than the people who are motivated. You will not like my example here, but please do look at Israel. They barely have any oil, but they make sure to use their human capital to the greatest extent, and this is why they are powerful and are developing fast.

So while you do progress and develop, please be humble, and understand that what is stated in my signature will always hold true.

U are right culture and people of a country are more important than resources.Thanks.

 

[Not Sure]

U are right culture and people of a country are more important than resources.Thanks.

Yes sir, and that resource can neither be bought, nor stolen from you. It will be your strength forever.

 

[SvenSvensonov]

So Vietnam is richer than Sweden, Switzerland, Netherlands, Belgium, Hong Kong and Singapore? Please...

@Chinese-Dragon

You're right about the skewed view of PPP. PPP is for measuring a countries internal buying power, since items will cost different amounts in each nation due to internal factors such as production costs, currency exchange rates and inflation. However, international trade is not denominated in a nation's purchasing power, it's denominated in what the buying and selling countries negotiate or the current going-rate for said item on the international market. This means that countries with high PPP will not have the same advantage in international trade as they would with internal consumption. Here's an important point on PPP as it relates to China:

China’s gross domestic product will climb to $17.6 trillion this year, while the U.S. grows to $17.4 trillion, IMF projections showed yesterday. One major caveat: the comparison is based on purchasing power parity, which uses exchange rates that adjust for price differences of the same goods between nations.

“The U.S. remains the biggest by the more common, more widely accepted and in our view, more useful measure,” said David Hensley, JPMorgan Chase & Co.’s director of global economic coordination in New York. As for PPP, “it’s not quite the real thing.”

From Hold on China, U.S. Still World’s Top Economy by Main Benchmark - Bloomberg

In short, PPP has little relevance outside of a country's internal sales as international trade does not base the selling and buying strength of a nation on its purchasing power.

Other nations don't care about how much a hamburger costs in your country, and they certainly aren't going to accept the price of one in foreign nations as compensation for their own goods in international trade. They will accept the going-rate for said item in international markets... hence why oil is not sold at national prices, it's sold in accordance to international market demand and supply.

@Chinese-Dragon I've seen you and others mention the lack of relevance of PPP, I agree, it's useful, but flawed and not a true measure of a nations economic poise on the international stage, it just measures their internal strength.

@IRAN 1802 - PPP is important to an extent, but on an international scale it losses its importance as a metric. Vietnam may have greater purchasing power then my native Sweden, but Sweden has a much higher median household income and greater quality of life, and this matters to people as well. PPP is one of many metrics , but one that is skewed more towards the developing and away from the developed world... hence why nations like China see their rise while the US remains stagnant in its PPP growth.

 

[opruh]

I thought India is number one, this list must be wrong.

 

[Edison Chen]

When comparing countries , GDP (nominal) is a better metric than GDP(PPP)

When comparing individuals, GDP (PPP) per capita is better than GDP(nominal) per capita.


True country ranking:

World GDP Ranking 2014 | Data and Charts - knoema.com

India is ranked 10 with GDP $2048Bn, Iran at 30 with GDP $403 billion.





It is GDP(PPP).

Taiwan, Thiland and Vitenam each of them have bigger econnomies than Switzerland, but Switzerland has better" Purchasing power parity (PPP)" than them. When it comes to "PPP" even Switzerland is better then Japan.

List of countries by GDP (PPP) per capita - Wikipedia, the free encyclopedia

Yes, I know it's PPP adjusted, so I was thinking this rank is biased.

 

[Akasa]

Wealth, in the perspective of the average citizen, is measured by GDP (nominal) per capita, a rough estimate of the earnings an "average" person in that country could muster in a year and also the productivity of each individual. By that regard, the so-called "economic superpowers" such as Russia or China have lightyears to go before they can deem themselves even comparable to the true pillars of the first world, that is, the developed world.

 

[American_Millenium]

You're right about the skewed view of PPP. PPP is for measuring a countries internal buying power, since items will cost different amounts in each nation due to internal factors such as production costs, currency exchange rates and inflation. However, international trade is not denominated in a nation's purchasing power, it's denominated in what the buying and selling countries negotiate or the current going-rate for said item on the international market. This means that countries with high PPP will not have the same advantage in international trade as they would with internal consumption. Here's an important point on PPP as it relates to China:

China’s gross domestic product will climb to $17.6 trillion this year, while the U.S. grows to $17.4 trillion, IMF projections showed yesterday. One major caveat: the comparison is based on purchasing power parity, which uses exchange rates that adjust for price differences of the same goods between nations.

“The U.S. remains the biggest by the more common, more widely accepted and in our view, more useful measure,” said David Hensley, JPMorgan Chase & Co.’s director of global economic coordination in New York. As for PPP, “it’s not quite the real thing.”

From Hold on China, U.S. Still World’s Top Economy by Main Benchmark - Bloomberg

In short, PPP has little relevance outside of a country's internal sales as international trade does not base the selling and buying strength of a nation on its purchasing power.

Other nations don't care about how much a hamburger costs in your country, and they certainly aren't going to accept the price of one in foreign nations as compensation for their own goods in international trade. They will accept the going-rate for said item in international markets... hence why oil is not sold at national prices, it's sold in accordance to international market demand and supply.

@Chinese-Dragon I've seen you and others mention the lack of relevance of PPP, I agree, it's useful, but flawed and not a true measure of a nations economic poise on the international stage, it just measures their internal strength.

@IRAN 1802 - PPP is important to an extent, but on an international scale it losses its importance as a metric. Vietnam may have greater purchasing power then my native Sweden, but Sweden has a much higher median household income and greater quality of life, and this matters to people as well. PPP is one of many metrics that, but one that is skewed more towards the developing and away from the developed world... hence why nations like China see their rise while the US remains stagnant in its PPP growth.

I've always said, when it comes to living standards GDP PPP PER CAPITA should be used, and when it comes to measuring the size of an economy, Nominal GDP should be used.

 

[Chinese-Dragon]

@Chinese-Dragon I've seen you and others mention the lack of relevance of PPP, I agree, it's useful, but flawed and not a true measure of a nations economic poise on the international stage, it just measures their internal strength.

You are right sir.

We do not recognize PPP, and any such PPP-based "milestones" are not reported on in the Chinese media (including my own HK media).

The hysteria about "China's re-emergence" is mostly from outside of China, by media houses that are just looking to sell more newspapers. I don't blame them, HK newspapers are exactly the same, anything to sell more papers.

Luckily people like us here, have the actual proper information at hand, and can view it in the right context.

 

[CrazyEagle9]

Well, I did not mean the oil as your resource. Saudi Arabia has oil, Russia too has oil, US as well. But the happiest people in the world do not come from these countries. And even if you do have the greatest oil reserves, it will not last forever.

Also, it will be a terrible mistake to think that others cannot progress. What you need to do is realize what is the eternal and most coveted resource of your country and then work on to capitalize it. I will give you some examples of your resources - 1. Your land, 2. Your heritage, 3. Your people. And there is no greater resource on earth than the people who are motivated. You will not like my example here, but please do look at Israel. They barely have any oil, but they make sure to use their human capital to the greatest extent, and this is why they are powerful and are developing fast.

So while you do progress and develop, please be humble, and understand that what is stated in my signature will always hold true.

One best example of that, is Japan. Japan has no natural resources, but dedication of people towards their country and high morale created modern day Japan.

 

[Schutz]

This is incorrect especially as the UK is expected to overtake France...not be 170 billion behind

 

[Sulman Badshah]

Pakistan was $897 billion in 2013 so it should be more than $900 billion in 2014?
GNI, PPP (current international $) | Data | Table

Pakistan GDP PPP is good but in we are still lacking GDP nominal