Top10 World's Richest Countries

World's Richest Countries

Luxembourg, Norway & Switzerland Lead Top Ten GNP Nations

GNP per capita is the most widely accepted index for a country's financial success. Also referred to as Gross National Income, this much publicized statistic represents the total amount of money that a country's consumers spend on all goods and services in a year, divided by that country's population.

GNP per capita only counts consumption that can be measured in money. Therefore GNP statistics cannot capture the true quality of life in a country, nor do they necessarily define the best nations in the world. GNP per capita does tell a general story about a country's overall wealth - one that should be taken with a grain of salt and without stereotyping the living standard for all citizens.

Based on World Bank Development Indicators published in July 2006, here are the 10 richest countries in the world. GNP per capita for each country is shown in US dollars.

Ten Richest Countries (based on 2004 GNP per capita in US$)

1.                       Luxembourg ... $56,380

2.                       Norway ... $51,810

3.                       Switzerland ... $49,600

4.                       United States ... $41,440

5.                       Denmark ... $40,750

6.                       Iceland ... $37,920

7.                       Japan ... $37,050

8.                       Sweden ... $35,840

9.                       Ireland ... $34,310

10.                  United Kingdom ... $33,630

Luxembourg's high GNP per capita is due in part because a significant part of its workforce lives in neighbouring countries. Non-resident workers are not counted in Luxembourg's population which in turn raises the country's GNP per capita score. Bordered by Belgium, France and Germany, Luxembourg is strategically located close to its primary international trade partners particularly Belgium and the Netherlands. As a member of the European Union, Luxembourg also enjoys the advantages of the open European market.