Top 20 World’s Richest Countries 2012 by GDP (nominal)
by Nolly | on July 5, 2012
What are the top 20 richest countries in the world?
This article includes a list of countries in the world sorted by their gross domestic product (GDP), the market value of all final goods and services from a nation in a given year. The GDP dollar estimates presented here are calculated at market or government official exchange rates.
Several economies which are not considered to be countries (world, the EU, and some dependent territories) are included in the list because they appear in the sources. These economies are not ranked in the charts here, but are listed.
The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country’s currency. Such fluctuations may change a country’s ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Therefore these figures should be used with caution.
Some countries/regions may that have citizens which are on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore and small total economy; the GDP is calculated as the population times the wealth per capita.
Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. (See List of countries by GDP (PPP)) PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. On the whole, PPP per capita figures are more
This information about the richest countries is from the US Central Intelligence Agency (CIA) World Fact Book and expressed in US Dollars in Trillions:
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