The International Monetary Fund (IMF) annually publishes data on the Gross Domestic Product (GDP) per capita of all countries in the world. GDP per capita is a measure of a country's total economic output divided by the country's total population and is often used as an indicator of the welfare of the country's population.
The IMF calculates data for 237 countries across the globe. Here is a list of the ten richest countries in the world, starting from the country ranked tenth richest to the country ranked as the top in 2023, according to their per capita GDP:
10. Denmark
Denmark's GDP per capita reached US$66,393,635 (Rp1,006 billion). The country's national income is dominated by the manufacturing industry, such as electronics, textiles, and household furniture. Although it is a relatively modern country, Denmark, which is home to 5.93 million people, also relies on agriculture and fisheries.
9. Australia
Australia, which is the only country in the world that encompasses an entire continent, recorded a GDP per capita of US$68,023,152 (Rp1,031 billion) from a population of 26 million people by strengthening the economy in the fields of wheat farming, meat farming, and the wool industry. This kangaroo country is also developing telecommunications and mining.
8. Iceland
Despite having a population of only about 372,000 people, Iceland's GDP per capita is US$77,960,826 (Rp1,182 billion). This island nation in the North Atlantic Ocean region relies heavily on the maritime sector. Nicknamed "Snowland," the country also derives wealth from aluminum production and environmentally friendly hydroelectric power plants.
7. United States
The US is the world's largest economy with the second-largest reserves of natural resources. The IMF reports that the per capita GDP for the 331 million people of the US reached US$78,421,938 (Rp1,189 billion).
6. Singapore
Singapore was named one of the 10 richest countries in the world in 2023, as well as in Asia. The GDP per capita reached US$84,500,411 (Rp1,281 billion). Although its land area is not larger than Madura Island in East Java, Indonesia, the Lion Country can attract funds from foreign investment.
5. Norway
Not only does it offer the beauty of the glacier bay (fjord). Norway is also known as a country that produces oil and natural gas. It is not surprising that the majority of the people who make their living as fishermen have a GDP per capita of US$88,748.76 (Rp1,345 billion).
4. Qatar
Qatar is known for its rich oil and natural gas resources, which accelerate its GDP per capita reaching US$89,416,443 (Rp1,356 billion). Its population of 2.79 million does not need to pay taxes as the country's economy is backed by oil and gas production and exports.
3. Switzerland
With a GDP per capita of US$94,834,644 (Rp1,438 billion), Switzerland ranks among the 10 richest countries in the world in 2023. This country is rich from tourism due to its captivating natural beauty. Its banking industry is also regarded as the greatest in the world.
2. Ireland
Often compared to Iceland, Ireland could overtake other developed countries in terms of economy. Before 1970, this small country was hit by a poverty crisis and an explosion of unemployment. However, Ireland managed to rise and achieve a GDP per capita of US$106,997,402 (Rp1,622 billion) in 2023. This country, dubbed the Celtic Tiger, saw its economic growth double.
1. Luxembourg
At the top of the list, Luxembourg has a GDP per capita of US$128,819,444 (Rp1,953 billion). These figures were obtained from various industrial sectors, including rubber, chemicals, iron, steel, and technological development. With a population of only 640,000 people, the government can suppress unemployment.
How about Indonesia?
Indonesia ranks 116th on the list of the world's richest countries, with a per capita GDP of US$5,010 or about Rp75,981 million.
Among ASEAN countries, Singapore ranks sixth with a per capita GDP of US$84,500,411 (Rp1,281 billion), followed by Brunei Darussalam at 26th with a per capita GDP of US$41,710 (Rp632,422 million), Malaysia at 67th with a per capita GDP of US$13,940 (Rp211,414 million) and Thailand at 89th with a per capita GDP of US$8,270 (Rp125,422 million).
Below Indonesia is Vietnam at 119th with a GDP per capita of US$4,680 (Rp70,976 million), the Philippines at 130th with a GDP per capita of US$3,760 (Rp57 million), and Laos at 151st with a GDP per capita of US$1,980 (Rp30 million).
