The wealthiest 50 countries in the world have complex and diverse economies. They export goods and services that originate in a variety of industries such as pharmaceuticals, biotechnology, and aerospace. Another common characteristic among the richest countries is the relative lack of corruption.
According to corruption watchdog Transparency International, the least corrupt countries feature a free press, open access to public information, and judicial systems free from undue influence. Another common characteristic of the wealthiest nations is all of the 50 richest countries have life expectancies at birth above the world average of 72 years.
The key indicator to determine how rich a country is and compare it with the others is the GDP per capita (a total value of goods and services produced by a nation during a year divided by its total population). It shows how rich each citizen is, on average, but unfortunately does not take into account differences in the cost of living in various parts of the world.
For the most accurate measurement, economists use GDP based on Purchasing Power Parity, the so-called GDP (PPP) per capita. It calculates the total value of goods and services produced in each country as if they were sold at US prices. So we can compare nations with different standards of living by measuring their GDP (PPP) per capita in international dollars (equivalent to US dollar), and find out who is the richest of them.
See The Top 50 Richest Countries In The World Below;
|Rank||Country||GDP(PPP) per capita 2018 (Intl $)||Average Life Expectancy (years)|
|9||United Arab Emirates||68,662||77.49|
|46||Trinidad and Tobago||32,011||70.82|