In determining which counties are richest, this cannot be quantified and qualified with the areas that they have but it is based on their GDP (Gross Domestic Product) per capita. Although some organizations are using PPP or Purchasing Power Parity in determining the wealthiest countries in the world, nonetheless, GDP is still derived and based from the PPP, which would also give the same results on the overall ranking and standing of the following countries on this list. The national wealth per country is still based on its GDP wherein the cost of living is not tabulated or included so below are the top 10 richest countries in the world 2012
10. India
Its current up-to-date growth based on GDP is USD $2.012.760 trillion and this has been predicted by the economist when 2011 commenced. In fact, based on the reports, there is an 8.2 percent growth before 2010 ended. Some of the contributable factors of its progress are business investments, private consumptions, agricultural outputs, and its key service sectors.
9. Russia
It got the ninth spot of earning USD $2,117.245 trillion. In fact, as early as 2007, it has already laid out economic development plans that would last until the year 2020. It was forecasted on that year, despite of some negative remarks that it got. Hence, the plan is honed up because of the average growth it achieves yearly by 6.7% on its gross domestic product. The target includes industrial developments and other distributable factors in economic sectors.
8. Italy
It has a closed income of USD $2,287.704 trillion and according to the World Bank, the International Monetary Fund, and the CIA World Factbook, it has become the fourth largest economy in Europe when it comes to nominal GDP since they have diversified industrial and infrastructure economies. It is one of the eight members of the industrialized nations of the G8 group.
7. United Kingdom
With its USD $2,603.880 trillion earned at the close of the year 2011, wherein it has an average quarterly GDP growth of 0.58%, which makes it as one of the giants when it comes to stable economy despite of the recession that hit the major countries in the recent years. In fact, it has accelerated on the 3rd quarter of 2011, which actually comes from primarily in the service sectors while it holds the third largest economy in Europe.
6. Brazil
It has USD $2,616.986 trillion before 2012 begun, although there was a slight progress in 2011. It still managed to reach the 0.80% of GDP growth, which mainly comes from their service sectors, mining, manufacturing and agricultural products. In fact, it is the highest economy in the South American countries.
5. France
With USD $2,888.907 trillion recorded at the close of year 2011, it has reached 0.30% GDP growth before 2011 ended. It is considered as the second largest economic force in Europe because of its concentration on diverse industrial base and modern industrialized countries. Despite of the recession that it did experience in 2008 to 2009, they had its comeback in 2010.
4. Germany
It has earned a total of USD $3,707.790 trillion while reaching an average GDP rate of 0.31 percent and it is the number one country when it comes to the economic growth in Europe. It focuses on exportation, which comprises of the 1/3 output on the total national growth or contribution of the country's economy.
3. Japan
It got the third spot carrying USD $6,125.842 trillion with 0.52 % average GDP growth before the year 2011 closed. It is known for its competitiveness in the free-market economy bagging on international trading. In fact, it has consistently maintained its ranking on the top five richest countries since the 1960s despite of the recent blow that they did experience last year because of tsunamis that destroyed the lives of many people and majority of properties and other assets.
2. China
It got USD $7,744.133 trillion for its average GDP growth of 2.15 percent. It is the second largest economy in the world that follows the United States. It is focused on international trade, its people are market oriented, and the main contributor for its growth is found on exportation that made them the largest exporter and on importation that placed them as the second largest importer of goods in the world.
1. United States
It still holds the title of the biggest and largest economy with its closing profit based on GDP of USD $15,495.389 trillion. Its average GDP growth recorded is 3.28 percent wherein just like China; it is also market oriented and focuses on business and private individuals despite of the unemployment rate issues due to the recession setback that it did experience in the past years.
Rhodora Dagatan 16 Jan, 2012
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Source: http://www.tiptoptens.com/2012/01/16/top-10-richest-countries-in-the-world-2012/
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