Ranking of the richest countries in the world 2022

The spread of the pandemic and the war in Ukraine were very difficult for many countries. This affected the economic development of many states and led to a terrible crisis. But then what are the richest countries in the world in 2022? Increase their GDP.

As the health crisis and war continue, it’s worth asking how the world’s major powers are faring. The IMF (International Monetary Fund) has released its traditional global economic outlook, detailing its growth projections for 2022.

Having survived a critical 2020, countries expect a strong recovery in 2022. For example, in China, according to IMF forecasts, growth will be 5.1%. >The institution predicts that Russia’s GDP will reach 1.703 billion current dollars in 2022, a growth forecast of 2.9% compared to the previous year. However, after the events of recent days and Moscow’s invasion of Ukraine, this assumption needs to be clarified. It is also important to consider the impact of economic sanctions and forthcoming Russian response decisions, as well as their consequences for the Russian, French and global economies.

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Definition and calculation of GDP

GDP is the key national accounts aggregate. It takes into account the final result of the production activities of resident producer units. Its purpose is to measure the wealth created by all agents, private and public, in a national territory over a given period.

GDP (gross domestic product) is calculated by summing the value added of all companies (national or international) in a country. However, it should be kept in mind that there is a difference with GNP (gross national product), which takes into account all activities (goods and services) produced in the territory.

In other words, GDP measures the value of all goods and services produced in a country in a fiscal year, calculated at the market price. If a country’s GDP growth is recorded, this means that it is experiencing economic growth. Conversely, a decline in GDP rhymes with recession.

According to INSEE, GDP at market price can be calculated in three different ways:

• Manufacturing perspective : It consists of summing the value added of all activities for the production of goods and services, with the addition of taxes minus subsidies on products: PV activities + taxes – subsidies.
• Cost Perspective: To calculate GDP, all final expenditures (dedicated to consumption or wealth creation) must be summed up by adding exports minus imports of goods and services.
• Income Outlook: To calculate it, it is necessary to add up all income received in the production of goods and services (wage income, gross profit and mixed income), adding to it taxes on production and imports, minus subsidies.

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10 richest countries in the world in 2022

In the first position of the ranking of the richest countries in the world, we unsurprisingly find the United States, whose GDP is 24,796 billion dollars. This is 5.20% more than in 2021. In second place is China with a GDP of $18.460 billion. The country was able to recover, even after successive lockdowns, with a 5.10% growth. Asia is on the podium with Japan in 3rd place with a GDP of $5,383 billion.

The rest of the ranking and the closing of the top five we go to Western Europe with Germany (+4.6%) and Great Britain (+5%). France lags behind India (+8.50%), in 7th place. France has indeed lost place with a GDP of $3,140 billion in 2022.

In the rest of the top 10, we find Italy in 8th place with a GDP of $2.272 billion, followed by Canada ($2.189 billion). In the 10th place of the richest countries in the world, we find South Korea.

And the African continent? Nigeria ranks 26th in the list of the richest countries in the world. This position again makes this state the richest African country according to the International Monetary Fund with an estimated GDP of $555 billion in 2022. This figure registers an increase of 2.7% per year.

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GDP: Ranking of the richest countries in the world in 2022

Ranking of countries in 2022 by GDP per capita

GDP per capita is calculated by dividing a country’s GDP by the number of inhabitants. This indicator provides an additional insight into the level of development of the country and is highly regarded by economists.

No wonder Luxembourg is in 1st place among the countries with the highest GDP per capita for 2021. Thus, it is 126,000 dollars. Ireland ranks 2nd in the ranking, ahead of Singapore (3rd). France falls in the standings and takes 28th place.