15 richest nations in the world

There are some countries in the world that are really rich.

Forbes recently published a list of the  richest countries in the world. While compiling the list, Forbes looked at GDP per capita adjusted for purchasing power for 182 nations.

The PPP-adjusted GDP - preferred by economists when making international comparisons - takes into account the relative cost of living and inflation rates, rather than just exchange rates, which may distort real differences in worth.

Qatar

GDP (PPP) per capita: $88,222

Global ranking: 1

Qatar has the world's highest per capita GDP and proven reserves of both oil and natural gas. Qatar tops the list of world's richest countries.

In 2010, its economy grew by 19.40 per cent, the fastest in the world.

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The main drivers for this rapid growth are attributed to ongoing increases in production and exports of liquefied natural gas, oil, petrochemicals and related industries.

Qatar has the second-highest human development in the Arab world after the United Arab Emirates.

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Luxembourg

GDP (PPP) per capita: $81,466

Global ranking: 2

The country has a highly developed economy, with the world's highest GDP (nominal) per capita according to the IMF.

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The city of Luxembourg, the largest and capital city, is the seat of several institutions and agencies of the EU.

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Singapore

GDP (PPP) per capita: $56,694

Global ranking: 3

The economy depends heavily on the industry and service sectors. Singapore is a world leader in several areas: It is the world's fourth-leading financial centre, the world's second-biggest casino gambling market, and the world's third-largest oil refining centre.

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The port of Singapore is one of the five busiest ports in the world, most notable for being the busiest transshipment port in the world.

The country is home to more US dollar millionaire households per capita than any other country. The World Bank notes Singapore as the easiest place in the world to do business.

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Norway

GDP (PPP) per capita: $51,959

Global ranking: 4

Norway has extensive reserves of petroleum, natural gas, minerals, lumber, seafood, fresh water and hydropower.

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On a per-capita basis, it is the world's largest producer of oil and natural gas outside the Middle East, and the petroleum industry accounts for around a quarter of the country's gross domestic product.

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Brunei

GDP (PPP) per capita: $48,333

Global ranking: 5

Brunei has the second highest Human Development Index among the South East Asia nations after Singapore, and is classified as a developed country.

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According to the International Monetary Fund, Brunei is ranked fifth in the world by gross domestic product per capita at purchasing power parity.

Forbes also ranks Brunei as the fifth richest nation out of 182 nations due to its extensive petroleum and natural gas fields.

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United Arab Emirates

GDP (PPP) per capita: $47,439

Global ranking: 6

The UAE oil reserves are ranked as the world's sixth-largest and it possesses one of the most developed economies in the Middle East.

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It is the 35-largest economy at market exchange rates, and ranks among the world's wealthiest nations.

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The United States

GDP (PPP) per capita: $46,860

Global ranking: 7

The US economy is the world's largest national economy, with an estimated 2011 GDP of $15.1 trillion.

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The country accounts for 41 per cent of global military spending, and is a leading economic, political and cultural force in the world.

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Hong Kong

GDP (PPP) per capita: $45,944

Global ranking: 8

As one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and the currency, Hong Kong dollar, is the eighth most traded currency in the world.

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Hong Kong has one of the highest per capita income in the world. The dense space also led to a highly developed transportation network with public transport travelling rate exceeding 90 per cent, the highest in the world.

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Switzerland

GDP (PPP) per capita: $41,950

Global ranking: 9

In 2010, Switzerland had the highest wealth per adult of any country in the world (with $372,692 for each person). Switzerland also has one of the world's largest account balances as a percentage of GDP.

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Zurich and Geneva have respectively been ranked as the cities with the second- and third-highest quality of life in the world.

In 2010, the World Economic Forum ranked Switzerland as the most competitive country in the world, while ranked by the European Union as Europe's most innovative country by far.

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The Netherlands

GDP (PPP) per capita: $40,973

Global ranking: 10

The Netherlands has a capitalist market-based economy, ranking 13th of 157 countries according to the Index of Economic Freedom.

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In May 2011, the Netherlands was ranked as the "happiest" country according to results published by the Organisation for Economic Co-operation and Development.

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Australia

GDP (PPP) per capita: $39,764

Global ranking: 11

A highly developed country, Australia is the world's 13th-largest economy and has the world's fifth-highest per capita income.

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With the second-highest human development index globally, Australia ranks highly in many international comparisons of national performance, such as quality of life, health, education, economic freedom and the protection of civil liberties and political rights.

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Austria

GDP (PPP) per capita: $39,761

Global ranking: 12

Austria is one of the richest countries in the world. The country has developed a high standard of living and in 2011 was ranked 19th in the world for its Human Development Index.

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Austria has been a member of the United Nations since 1955, joined the European Union in 1995, and is a founder of the OECD.

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Ireland

GDP (PPP) per capita: $39,492

Global ranking: 13

Ireland was ranked the best place to live in the world according to a "quality of life" assessment by The Economist magazine.

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Republic of Ireland joined the euro in 1999, while Northern Ireland remained with the pound sterling.

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Canada

GDP (PPP) per capita: $39,171

Global ranking: 14

One of the world's most highly-developed countries, Canada has a diversified economy that is reliant upon its abundant natural resources and upon trade - particularly with the United States.

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It is a member of the G7, G8, G20, Nato, OECD, WTO, Commonwealth of Nations, Francophonie, OAS, Apec, and UN.

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Kuwait

GDP (PPP) per capita: $38,775

Global ranking: 15

The country has the world's fifth-largest oil reserves and petroleum products now account for nearly 95 per cent of export revenue and 80 per cent of government income.

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Kuwait is classified as a high income economy by the World Bank and is designated as a major non-Nato ally of the United States.