Which are the 10 richest countries in the world and what is India's rank on?

Measure of wealth?

• Usually, the wealth of a country is measured by its Gross Domestic Product or GDP.
• GDP is formed by adding the production of goods and services of a country in a given period, it is seen as an indicator to show the wealth of a country.
• This is the most famous and widely used measure, in which, among other things, it is known that-

How much tax is the government getting?

• How much money can the government spend on sectors like education and health?
• However, people have also been raising questions on this scale that the scale should be Gross Domestic Product or GDP per capita.
• List of the ten richest countries in the world according to the data of October 2022 of the International Monetary Fund and Visual Capitalist:-
  • 10. Italy US $ 1.99 trillion
  • 9. Russia US $ 2.113 trillion
  • 8. Canada US $ 2.2 trillion
  • 7. France US $ 2.778 trillion
  • 6. Britain US $ 3.199 trillion
  • 5. India US $ 3.469 trillion
  • 4. Germany US $ 4.031 trillion
  • 3. Japan US $ 4.301 trillion
  • 2. China US $ 18.321 trillion
  • 1. US $ 25.035 trillion
• According to the current assessment of the IMF (2023), the ten richest countries in the world on the assessment of GDP per capita:-
  • Luxembourg
  • Singapore
  • Ireland
  • Qatar
  • Macau
  • Switzerland
  • Norway
  • United Arab Emirates
  • Brunei
  • USA
• Except US No country from the first list is included in the second list.
• Despite contributing nearly 20% of the global GDP, it is ranked 10th in the second list.

How rich is Luxembourg, the number 1 country?

• Forbes has ranked Luxembourg, one of the most beautiful countries in the world, first in this list of rich people.
• Luxembourg's GDP per capita is 131,380 US dollars.
• With an area of ​​2,586 square kilometres, Luxembourg is the seventh smallest country in Europe.
• Its GDP is 88.56 billion dollars and its population is just 6 lakh 53 thousand.

What is the reason?

• Actually, it is the world's largest banking centre. There are more than 200 bank institutions here in the capital.
• This country is a hub of industries as well as an import-export economy based on financial services.
• There are also many small and medium-sized industries.
• It also invites foreign businessmen due to tax concessions.
• Citizens of neighbouring countries like France, Germany and Belgium work in Luxembourg, contribute to the GDP, but they live in their own country.
• The minimum wage in the country is US$ 2,488 per month, while the average salary is US$ 5,380 per month.

What is the situation of India?

• It is the fifth economy of the world on the scale of GDP.
• On the scale of GDP per capita, India ranks 144th in the list of 194 countries of the world.
• Among Asian countries, India ranks 33rd in this list.
• The national average of minimum wage in India is $ 16 per day, i.e. about $ 65 per month.