The world boasts of almost 200 countries in together which generates revenue in billions and trillions each year. Fortune has come up with the rankings of 10 richest country in the world based on the International Monetary Fundвs October 2017 data on GDP per capita based on purchasing power parity, which compares the currencies of countries in relation to the cost of goods and is used to weigh a countryвs economy in relation to others, according to the IMF. This may also come as a shocker that the country which claims to be one of the super power, US is nowhere in the list.
Check out the top 10 million dollar countries which has taken their spot on this coveted list:
Income inequality has become a hot button political issue in the United States over the last several years. Unequal distribution of wealth is not an issue unique to the United States, however.
North America is home to fewer than 5% of the global population — yet the continentвs combined gross domestic product accounts for over one-quarter of global economic activity. Meanwhile, South Asia is home to nearly one-quarter of the worldвs population, yet the region\’s economic output accounts for less than 4% of global GDP. While GDP is a practical way to measure the size of a given country or regionвs economy, it does not accurately reflect the overall wealth of a population.
Unlike GDP, gross national income, or GNI, accounts for all economic activity within a countryвs borders in addition to wealth generated by nationally-owned entities operating abroad. Adjusted to the population and converted to U. S. dollars, GNI per capita is an accurate approximation of the average income of residents of a given country.
Using data from the World Bank, 24/7 Wall St. reviewed GNI per capita in over 170 nations to identify the 25 richest countries in the world. Worldwide GNI is about $10,300 per person. In the worldвs 25 wealthiest nations, GNI per capita is far higher, ranging from $27,600 to over $82,300. Click ahead to see the richest countries in the world. More on MSN :