Top 10 richest countries in the world by nominal GDP per capita in 2025

Do you want to know which is the richest country in the world?

For ages, economists have been preoccupied with ideas of wealth. Each year, economists and financial analysts assess which countries rank as the wealthiest. However, there isn’t one universal way to measure a nation’s wealth. This article explores the ten wealthiest countries in 2025, ranked according to their nominal GDP per capita.

What is nominal GDP per capita?

Nominal GDP per capita is the average economic output generated per person in a country. It is determined by dividing the country’s total nominal GDP by the size of its population. “Nominal” suggests that GDP is calculated using the current market prices of the country, without taking into account the differences in the cost of living between different countries. It is a common measure used by policy experts to calculate the relative wealth of nations.

The International Monetary Fund gives an accurate representation of the wealth of nations based on nominal GDP per capita. Given below is a list of the top-ranking richest countries in the world in 2025.

1. Singapore

According to IMF reports, Singapore is the richest country in the world, with a nominal GDP per capita of 156.76 thousand US dollars. It is a country that is home to about 6.16 million people. Industries like trade, biotechnology, finance, and electronics fuel the economy of Singapore. With a large financial hub and a highly skilled workforce, Singapore makes way for a financially strong market. Every year, the country attracts a large number of multinational firms in the tech and pharmaceutical sectors, with exports being the country’s biggest source of GDP.

2. Luxembourg

Ranked at the second position with a nominal GDP per capita of 152.92 thousand US dollars, Luxembourg is a country that is home to about 0.68 million people. Its highly established banking, investment fund, steel, and satellite industries generate prosperous profit for the country. The country offers a low-tax environment. Since the EU has released new passporting rights, Luxembourg has become one of the most important financial centers in the world.

3. Macao SAR

Macao SAR, a country that inhabits about 0.72 million people, is ranked third on the list of the top 10 richest countries in the world in 2025 with a nominal GDP per capita of 134.04 thousand US dollars. The gaming, tourism, and retail sectors of the country generate the highest amount of profit, contributing to a high nominal GDP. Popularly known as the “Las Vegas of Asia, Macao SAR profits from its casino industry, which is responsible for boosting its economy.

4. Ireland

Ireland, ranked fourth among the world’s wealthiest nations in 2025, is known for drawing global giants like Apple, Google, and Pfizer—thanks to its low corporate tax rates and skilled talent pool. It has a population of about 5.3 million and a nominal GDP per capita of approximately $134,000. The country receives a major boost in GDP through its medical and pharma sectors along with its technical industry.

5. Qatar

Qatar, ranked fifth among the world’s wealthiest nations, holds the third-largest natural gas reserves globally. Although its economic diversification poses a great challenge to its economy, Qatar, with a population of about 2.9 million people and a nominal GDP per capita of 121.61 thousand US dollars, generates large amounts of profits with its oil and petrochemical industries.

6. Norway 

Norway is ranked 6th with a nominal GDP per capita of 107.89 thousand US dollars in the list of the world’s richest countries. With a population of about 5.6 million people, Norway gauges most of its wealth from its advanced green technology industries. A major plus is its robust social safety net, which contributes to the country’s economic resilience. Oil and gas industries, along with a large number of fisheries, also scale up the profit margin of Norway, contributing to a high nominal GDP per capita.

7. Switzerland

With a nominal GDP per capita of 97.58 thousand US dollars, Switzerland, the country with the highest innovation scores in the world, is ranked 7th in the list of the richest countries. Home to about 8.7 million people, it is a country with economic stability and neutrality. The country makes most of its profits from high-value exports. The finance, pharmaceutical, and machinery industries further boost the economy of Switzerland.

8. Brunei Darussalam

With a small population of about 0.44 million people, Brunei Darussalam’s economy is fueled by its vast oil reserves. With a nominal GDP per capita of 95.76 thousand, this country offers state subsidies, which generate great profits for the country. However, a relatively high rate of unemployment in Brunei Darussalam causes a significant disadvantage to the country.

9. Guyana

Guyana’s nominal GDP per capita stands at approximately $64,260, with a population of around 800,000 people. Its gold mining and agricultural industries play an important role in fueling its economy. However, infrastructural gaps and corruption work severely to the disadvantage of Guyana, hampering the growth of its nominal GDP per capita.

10.  United States

The United States, home to the world’s largest economy, holds the 10th position among the richest countries by GDP per capita in 2025. Its innovation and entrepreneurship sectors play a key role in strengthening the country’s economy. Inhabited by about 347 million people, the US also gains economic strength from its defense and healthcare industries.

Conclusion 

These rankings not only highlight the average economic output generated per person in these countries but also suggest the distinct paths that they take to a prosperous economy. While countries like Luxembourg and Singapore leverage their economies by their highly skilled workforce and strong financial sectors, countries like Qatar, Norway, Brunei Darussalam, and Guyana benefit from natural resources. Ireland and Switzerland generate maximum profits from their innovative technology and high-value exports. While Macao SAR leverages its gaming and tourism sector to maintain a high nominal GDP per capita, the USA fuels its economy by its thriving defense and entrepreneurship sector.

However, it is important to note that nominal GDP per capita doesn’t capture purchasing power, quality of life, or distribution of income. Therefore, even the wealthiest countries can also face cost-of-living issues. Ultimately, true economic strength lies not just in figures but in how a nation uses its wealth sustainably, offering inclusive opportunities and a better quality of life to its people.