Due to the rise in economic development in most countries in the world, it is very difficult to determine which country is actually the richest since every country is doing their possible best to move from their current state to another. I guess majority of us have always been wondering which country would be the richest in the world right? . This article brings to you the six richest countries in the world.
- United Kingdom: The United Kingdom with a GDP of 2. 8trillion dollars is the sixth richest country in the world.
The UK is primarily driven by the services sector which contributes about 75% to its GDP with manufacturing being the second contributor and finally agriculture.
- India: India has become the fifth richest economy with a GDP of 2. 97trillion dollars. Its services sector is the fastest growing sector in the world today.
The strength of their economy lies in their high exports, high savings rate among others.
- Germany: Germany is not just Europe’s fourth richest economy but also the strongest. It has a GDP of 3. 96trillion dollars.
Their GDP is strongly dependent on capital good exports. Germany has launched a strategic initiative to establish the country as the net provider of manufacturing solutions.
- Japan: Japan is the third largest economy in the world with a GDP of 5. 18trillion dollars. This is a country that has suffered an earth quake that came with adverse economic and social effects.
But they have managed to overcome their economic crisis by crossing the 5trillion GDP mark in 2019.
- China: China has experienced exponential economic growth over the few decades, breaking the barriers of a centrally closed economy.
They have a GDP of 14trillion dollars with their GDP being highly dependent on their huge manufacturing and exporting to all parts of the world.
- United States: The United States has been able to retain its position of being the world’s richest country since 1871. They are often dubbed as the economic superpower.
And this is because the country constitutes almost a quarter of the global economy. The US have a GDP of 21. 34trillion dollars.