GDP per capita is a metric economists use to measure a nation’s prosperity and the well-being of a country’s people. It is the indicator of a country’s economic efficiency and the average standard of living enjoyed by its citizens. This simple mathematical equation helps us decide which the richest countries by GDP per capita are.
The equation is a simple division, but it shows a great depth of a country’s economic health. In this blog, we will look at the richest countries by GDP per capita, but we will also learn how to calculate GDP per capita.
So, here’s all you need to know.
How is GDP per Capita calculated?
Gross Domestic Product (GDP) per capita is a key economic indicator used to measure the average economic output or income per person in a country. It provides insight into a nation’s economic prosperity and standard of living. The calculation is straightforward:
GDP per capita = Gross Domestic Product (GDP) ÷ Population
Gross Domestic Product (GDP) represents the total value of all goods and services produced within a country over a given period (usually a year). Population refers to the total number of people living in the country during that same period.
As defined by the World Bank, “GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy, plus any product taxes, and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.”
To simplify, dividing GDP by the population gives the average share of economic output per person, which is used as a proxy for the country’s standard of living.
A higher GDP per capita generally indicates a higher average income and standard of living. Although it does not reflect income distribution or inequality across the population.
But that brings us to the main question: which are the richest countries by GDP per capita? Let’s answer that.
The Complete List of the Richest Countries by Gdp Per Capita:
Here is a table of the richest countries ranked according to their nominal GDP per capita:
| Rank | Country | GDP per Capita (Nominal) | Major Industries | Population (2025) | Cost of Living Index |
|---|---|---|---|---|---|
| 1 | Luxembourg | $141,080 | Banking, Financial Services, IT, Chemicals | ~682,805 | ~74-75 |
| 2 | Switzerland | $111,716 | Pharma, Finance, Machinery | ~9.14 million | 93-103 (varies by city, Zurich highest) |
| 3 | Ireland | $107,243 | Pharma, Tech, Finance | 5 million | 66.6 |
| 4 | Singapore | $93,956 | Electronics, Biomedical, Finance | 6.11 million | 85.3 |
| 5 | Iceland | $90,111 | Aluminum, Fish, Tourism | ~399,820 | 83 – 94.5 |
| 6 | Norway | $79,989 to $90,320 | Oil & Gas, Shipping, Seafood | 5.6 million | 78.9 to 76 |
| 7 | United States | $89,678 | Tech, Finance, Manufacturing | 342.6 million | 70.4 (with state/city variations) |
| 8 | Macau | $76,314 | Tourism, Gambling, Textiles | 722,563 | 57.8 |
| 9 | Qatar | $64,676 to $76,276 | Oil & Gas, Petrochemicals | 3.1 million | 46.9 |
| 10 | Denmark | $64,495 to $74,970 | Pharma, Machinery, Food | 6.0 million | 74.1 |
| 11 | Netherlands | $70,606 | Chemicals, Food, Electronics | 18.3 million | 68.1 |
| 12 | Australia | $64,547 | Mining, Agriculture, Finance | 27.5 million | 63.0 |
| 13 | Austria | $61,080 | Machinery, Vehicles, Chemicals | 9.2 million | 67.6 |
| 14 | Hong Kong | $56,030 | Finance, Trade, Tourism | ~7.54 million | 78.3 |
| 15 | Finland | ~$45,080 – $56,080 | Electronics, Machinery, Forestry | ~5.62 million | 63.2 |
| 16 | Israel | $43,310 – $57,760 | Tech, Chemicals, Pharma | 9.5 million | 69.7 |
| 17 | Germany | $44,197 – $55,910 | Automobiles, Machinery, Chemicals | ~83.9 million | 64.7 |
| 18 | Canada | $44,846 – $55,890 | Natural Resources, Auto, Tech | 40.2 million | 60.7 |
| 19 | San Marino | ~$54,265 | Banking, Ceramics, Tourism | 33,567 | ~68.5 |
| 20 | Sweden | $55,410 | Engineering, Automotive, Telecom | ~10.5 million | 62.8 |
| 21 | Andorra | $49,304 | Tourism, Banking | ~79,500 | 67.2 |
| 22 | United Kingdom | $47,738 | Finance, Manufacturing, Chemical | ~70 million | 70.5 |
| 23 | Belgium | $44,837 – $45,286 | Chemicals, Machinery, Pharma | 11.76 million | ~61.1 |
| 24 | UAE | $44,213 | Oil & Gas, Trade, Tourism | ~10.1 million | 57.4 |
| 25 | France | $39,717 | Aerospace, Automotive, Luxury | ~68.2 million | 61.3 |
| 26 | Japan | $37,331 | Electronics, Automotive, Steel | ~124.6 million | 61.4 |
| 27 | South Korea | $36,700 | Electronics, Automotive, Shipbuilding | ~51.7 million | 75.3 |
| 28 | Guyana | $36,225 | Mining, Agriculture | ~0.8 million | 41.9 |
| 29 | Spain | $35,297 | Tourism, Automotive, Agriculture | ~47 million | 59.6 |
| 30 | Taiwan | $34,920 | Electronics, Machinery | ~23.27 million | 53.7 |
| 31 | Italy | $34,570 | Machinery, Automotive, Fashion | ~58.9 million | 61.2 |
| 32 | Malta | $34,806 | Tourism, Financial Services | ~535,000 | 63.6 |
| 33 | Slovakia | ~$27,130 | Automotive, Electronics, Machinery | ~5.4 million | 41.2 |
| 34 | Bahrain | ~$26,668 | Petroleum, Aluminum, Finance | ~1.8 million | 54.3 |
| 35 | Saudi Arabia | $25,634 | Oil & Gas, Petrochemicals | ~38.3 million | 49.2 |
| 36 | Poland | $25,023 | Machinery, Automotive, Food | ~38.3 million | 38.7 |
| 37 | Portugal | $22,839 | Automotive, Agriculture, Tourism | ~10.3 million | 55.5 |
| 38 | Greece | $22,152 | Shipping, Tourism, Food | ~10.4 million | 52.1 |
| 39 | Barbados | ~$20,987 | Tourism, Sugar | ~0.29 million | 67.1 |
| 40 | Estonia | $20,307 | IT, Engineering, Electronics | ~1.33 million | 56.9 |
| 41 | Lithuania | ~$19,610 | Machinery, Electronics, Food | ~2.8 million | 49.8 |
| 42 | Uruguay | $19,395 | Agriculture, Food, Chemicals | ~3.54 million | 45.4 |
| 43 | Croatia | $18,357 | Tourism, Shipbuilding, Agriculture | ~4.03 million | 47.5 |
| 44 | Latvia | ~$16,951 | Timber, Machinery, Food | ~1.8 million | 39.9 |
| 45 | Hungary | ~$16,524 | Automotive, Electronics, Chemicals | ~9.5 million | 37.3 |
| 46 | China | $13,778 | Manufacturing, Tech, Agriculture | ~1.43 billion | 40.5 |
| 47 | Argentina | $12,667 | Agriculture, Automotive, Food | ~46 million | 42.7 |
| 48 | Russia | $11,220 | Oil & Gas, Mining, Manufacturing | ~143.7 million | 30.8 |
| 49 | Brazil | $9,785 | Agriculture, Mining, Manufacturing | ~216 million | 40.4 |
| 50 | South Africa | $5,777 | Mining, Manufacturing, Agriculture | ~61 million | 38.5 |
| 51 | India | $2,548 | IT, Agriculture, Textiles | ~1.44 billion | 25.6 |
1. Luxembourg
Luxembourg boasts the world’s highest economic output, with its GDP per capita (Nominal) projected at $140,940 and PPP at $152,920 for 2025. Its economy is anchored in its large financial sector.
This wealth translates into an exceptional Quality of Life Index of 211.21. This is driven by high purchasing power and robust healthcare. Its Gini coefficient of 32.4 suggests relatively lower income inequality.
2. Switzerland
Switzerland is one of the world’s wealthiest nations, with a Nominal GDP per capita projected at $111,050 and PPP at $97,660 for 2025. And because of this, Switzerland is heaven on earth, and the second richest country by GDP per capita.
Its economy is powered by a sophisticated financial and high-tech sector. This wealth supports a very high Quality of Life Index (210.9), bolstered by strong purchasing power and low pollution. A low Gini coefficient of 30.0 reflects one of the world’s most equal income distributions.
3. Ireland
Let’s look at Ireland! This vibrant economy projects a Nominal GDP per capita of about $129,130 and a PPP of roughly $134,000 for 2025. Strong domestic demand and net exports drive this impressive wealth. According to OECD, Real Growth is forecasted at 3.7% in 2025.
Furthermore, Ireland maintains a fair playing field: its low Gini coefficient of 29.1 signals one of the lowest income inequality rates among OECD members. Citizens enjoy a very high Quality of Life Index, around 165.30. It is supported by strong purchasing power and a high climate rating.
4. Singapore
Singapore consistently stands as an economic powerhouse. For 2025, its Nominal GDP per capita is projected at $92,930, but its purchasing power truly shines, with PPP reaching a remarkable $156,970. It is the highest-ranking country by GDP per capita in Asia.
Despite a projected slowdown in Real GDP growth to 1.7% in 2025 due to global trade factors, the nation maintains a high Quality of Life Index (157.7). The QoL is backed by exceptional safety and healthcare. However, its Gini coefficient of 45.8 reflects a higher level of income inequality compared to the OECD average.
5. Iceland
When we talk about the richest countries by GDP per capita, we cannot overlook the land of fire and ice! Iceland is an economic success story, with a Nominal GDP per capita of $90,280 projected for 2025. This wealth rests on strong tourism, growing exports, and solid private consumption, leading to a forecast Real GDP growth of +2.7%.
More notably, Iceland achieves an incredible Gini coefficient of 24.2, representing one of Europe’s lowest levels of income inequality. According to Numbeo, Iceland ranks 8th on the Healthcare Index in Northern Europe.
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6. Norway
Norway, thanks to its resource-rich economy, projects a strong Nominal GDP per capita of about $91,880 for 2025, and an impressive PPP of roughly $107,890. This wealth is genuinely shared; Norway boasts one of the lowest Gini coefficients in the OECD, around 27.5, reflecting exceptional income equality through robust social policies.
This economic stability translates directly into a very high Quality of Life Index, which is valued at 194.5. The QoL is backed by high safety, robust healthcare, and strong purchasing power. Economically, the mainland sees a forecast of 1.8% Real GDP growth in 2025. It is fueled by high natural gas extraction and recovering real income.
7. United States
The United States continues its moderate economic expansion, expecting a Nominal GDP per capita of $89,600 and a PPP of $89,100 for 2025, driven largely by consumer spending. This economic strength fuels the Quality of Life Index with 192.1, with exceptionally strong purchasing power.
While the US ranks well globally for comfort and wealth, it faces a challenge with income distribution: its Gini coefficient sits high at 0.488, signaling notable income inequality compared to other developed nations. This figure did see its first drop in over a decade in 2022. The US is consistently ranked among the 10 richest countries by GDP per Capita.
8. Macau
Now, let’s take a look at Macau. This small country is called the Las Vegas of Asia. Its economy, heavily reliant on the gaming sector, is roaring back to life. Following a massive 80.5% Real GDP surge in 2023. The growth remains robust, projected at 9.6% in 2025, according to the IMF Article IV Consultation, May 2024.
This translates to remarkable wealth, with its Nominal GDP per capita near $74,920 and an outstanding PPP of approximately $132,650 for 2025. Residents enjoy a High Quality of Life Index (145.97). It is driven by a very high safety index, which is at 80.10.
9. Qatar
Qatar, an economic giant in the Middle East, continues its ascent, projecting a Nominal GDP per capita of $71,440 and a stellar PPP of $122,280 for 2025. According to data released by the World Bank, the nation’s Real GDP growth is set for a strong +2.8% in 2025, with major LNG projects driving future expansion.
This wealth translates into a very high Quality of Life Index (189.4), marked by outstanding safety of 84.6 and exceptionally high purchasing power of 177.6. Its Gini estimate sits at approximately 0.41. This indicates a moderate inequality, but citizens benefit from high state wages and robust public services, including a high Health Care Index of 73.5.
10. Denmark
Denmark truly epitomizes the high-equality, high-wealth model. For 2025, the country anticipates a strong Nominal GDP per capita of about $74,970 and a PPP of roughly $88,930. Denmark’s economy, driven by strong pharmaceutical and maritime exports, projects Real GDP growth of 1.6% in 2025. This wealth helps fuel an outstanding Quality of Life Index of 213.75.
Crucially, the prosperity is widely distributed; its Gini coefficient sits low at approximately 27.4. This number indicates minimal income inequality among the people. Citizens benefit from a high Safety Index of 74.0 and an excellent Health Care Index of 78.3, ranking 2nd in Europe.
11. Netherlands
Northern Europe is home to the richest countries by GDP per Capita, and this includes the Netherlands. Its projected Nominal GDP per capita of about $70,480 and PPP of roughly $84,570 for 2025 underpin this success. The Dutch achieve this with remarkable equality; a Gini coefficient of 28.3 reflects one of the lowest income disparities across the OECD, thanks to a strong welfare state.
Consequently, the nation boasts a very high Quality of Life Index of 234.64—ranking 5th globally on the World Happiness Report. Citizens benefit from a very high Health Care Index of 82.7 and impressive safety. And all of this, while maintaining slow but steady Real GDP growth projected at 1.4% in 2025.
12. Australia
Australia consistently delivers a high standard of living. The Australian economy expects moderate Real GDP growth of around 1.5% in 2025. The main driver of the economy is the growing population of approximately 27 million. It has projected a Nominal GDP per capita of about $64,550 and a PPP of roughly $72,140 for 2025.
Citizens enjoy a very high Quality of Life Index of 186.9, supported by a good Climate Index of 93.25 and a high Health Care Index of 73.1. However, the Gini coefficient of 33.3 suggests income inequality sits slightly above the OECD average.
13. Austria
Austria is a prime example of a nation prioritizing social equality. Its projected Nominal GDP per capita of $58,190 and a solid PPP of $74,370 for 2025 underpin its robust welfare state. The economy is steadily recovering, with Real GDP growth forecast at +1.1% in 2025, supported by an industrial rebound. Crucially, Austria boasts one of Europe’s lowest income inequalities, reflected in its Gini coefficient of 26.8.
This equitable distribution translates into a Quality of Life Index of 197.7, placing it among the global top 15. The nation offers a High Safety Index of 71.7, a Low Pollution Index of 20.6, and an impressive Health Care Index of 78.5. It is ranked second in Europe for care quality. Austria is clearly one of the world’s most content nations.
14. Hong Kong
Hong Kong operates as a dense economic powerhouse. According to the IMF, Hong Kong is anticipating a Nominal GDP per capita of approximately $56,030 and a solid PPP of roughly $77,940 in 2025. This city of about 7.5 million people maintains a moderate-to-high Quality of Life Index.
It is supported by a very high Climate Index of 83.64 and exceptional safety, boasting a High Safety Index of 78.5. Its wealth ensures high purchasing power and a Health Care Index of 66.1. However, Hong Kong faces challenges in wealth distribution; its Gini coefficient sits high at 0.539, indicating significant income inequality for a developed market.
15. Finland
Finland is the happiest country in the world, according to the World Happiness Report. The beautiful country offers a powerful lesson in balancing economic strength with widespread social equity. While its GDP per capita PPP is roughly $66,510 in 2025.
But the real story is its incredibly low Gini coefficient of 27.4. This means the benefits of wealth are shared widely across its population of about 5.18 million, supported by a robust welfare system and progressive taxation. In short, Finland successfully runs one of the OECD’s most equal economies.
16. Israel
Israel is set for a moderate economic recovery in 2025, with Real GDP growth projected at +3.2%, primarily driven by its powerful technology and services sectors. The nation’s economic strength is reflected in a GDP per capita PPP of $56,440. This wealth supports a very high QoL Index of 166.97, ranking Israel in the global top 25.
Citizens benefit from excellent infrastructure, with a very high Climate Index of 93.84, a High Safety Index of 68.2, and a high health care Index of 73.4. However, wealth distribution remains a challenge: the Gini coefficient sits high at 0.38, indicating significant income inequality compared to the OECD average.
17. Germany
Germany’s economy powers a high standard of living, with its GDP per capita PPP projected at $56,440 for 2025. This robust economic standing helps place the nation in the global top 25 with a QoL Index of 166.97. Germany also achieves a High Health Care Index of 73.4 and a High Safety Index of 68.2. It has created a secure and well-served environment for its population of roughly 9.8 million.
However, Germany contends with wealth disparities, showing a Gini coefficient of 0.38, which is above the OECD average. Despite this, the nation ranks extremely well among the richest countries by GDP per capita globally.
18. Canada
Canada maintains a high standard of living, landing 18th globally on the World Happiness Index with a score of around 7.1/10. The country’s economy is expected to moderate Real GDP growth of 1.4% in 2025. The GDP is maintained by a rapidly growing population of roughly 39.8 million.
Canadians enjoy a very high Quality of Life Index of 164.92, which includes a High Health Care Index of 68.6 and a high purchasing power of 109.30. Its Gini coefficient is 0.317, signaling moderate income inequality relative to its OECD peers. Overall, Canada remains a prosperous nation, noted for its strong social support and quality of governance.
19. San Marino
Take a moment to appreciate San Marino, a tiny republic that exemplifies how a microstate can achieve colossal wealth and well-being. With a population of only about 34,600 residents, it commands an exceptional GDP per capita PPP of roughly $142,000 for 2025. This stable economy, which expects about +1.2% annual growth, translates into an elite QoL Index of approximately 212.4, placing it among the best in Europe.
Furthermore, San Marino promotes extreme fairness; its Gini coefficient of 26.4 signals very low income inequality. Citizens enjoy a Very High Safety Index of 88.7 and excellent healthcare, reflected in an 81.1 Health Care Index.
20. Sweden
Let’s check in on Sweden, a nation celebrated for its social model. Their economy is picking up steam, with Real GDP growth forecast to accelerate to +2.3% in 2025, buoyed by stronger consumption and investment. This prosperity translates into a remarkable Quality of Life Index of 196.3.
For its population of about 10.4 million, Sweden offers high standards across the board, including a Very High Purchasing Power Index of 132.4, a High Health Care Index of 76.4, and a High Safety Index of 73.5. All of this affirms its place as one of the safer and more appealing European countries.
21. Andorra
Andorra, the small European principality, enjoys impressive economic stability, reflected in its estimated GDP per capita PPP of roughly $72,360 for 2025. This wealth is broadly shared across its small population, resulting in extremely low income inequality, with a Gini coefficient of approximately 26.4.
Consequently, citizens benefit from a QoL Index of 184.5. This high rating is boosted by a very high Safety Index of 84.7, excellent climate, and low pollution. The nation also boasts a very high Purchasing Power and a High Health Care Index of 75.6.
Conclusion
In closing, our journey through the world’s leading economies demonstrates that a high GDP per capita is the foundation for a superior quality of life. The nations on this list, which include the richest countries by GDP per capita, like Luxembourg and Ireland, have learned economic efficiency. They have successfully transformed raw wealth into tangible benefits for their citizens through strong healthcare, low crime rates, and robust social welfare.
While this metric provides an essential snapshot of average wealth, we must remember the value of equity. Countries like the Netherlands and Denmark prove that strong economic output paired with low income inequality creates the happiest societies. Understanding this crucial connection helps us appreciate the true engine behind the world’s richest countries by GDP per capita.
FAQs
1. Does high GDP per capita mean perfect equality?
No. It’s an average and does not reflect income distribution or wealth inequality (Gini coefficient).
2. What is the difference between Nominal and PPP GDP?
Nominal uses current exchange rates; PPP adjusts for local cost of living and purchasing power.
3. Are the richest countries by GDP per capita also the largest economies by total GDP?
Not always. Many have small populations but high output, unlike massive economies like China or the US.
