#6. The United States
While most nations on the list have small populations (relatively), it is impressive that the world’s largest economy, the United States, can maintain a per capita GDP of $47,084, considering its population of over 310 million people. Reasons behind its success include its large domestic automotive industry, technological sector that foster innovation, and a system of democracy that protects entrepreneurial and intellectual property rights.
#5. Singapore
This tiny city-state has a per capita income of $56,797, which is five times the average per capita income for an ordinary individual in the world. The basis of Singapore’s wealth is its financial services sector, a chemical export industry, and its liberal economic policies that encourage growth and innovation. Singapore has the second busiest port in the world, exporting $414 billion of goods in 2011 alone.
#4. Norway
This Nordic nation’s per capita GDP of $56,920 allows its 4.97 million people to reap the benefits of a small yet robust economy. Driven by fishing, natural resources, and major petroleum exploration, Norway is the eighth largest exporter of crude oil, 9th largest exporter of refined oil, and 3rd largest exporter of natural gas in the world.
Discussion about this post