IMF releases 2024 list of richest countries in the world
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India falls well down the list of the world's richest countries based on GDP per capita in 2024 but ranks fifth in the list of countries by GDP. Luxembourg is at the top of this list.
With USD 143.74 thousand per person, Luxembourg has the highest GDP per capita, according to data from the International Monetary Fund (IMF).
Top ten nations by GDP
Right now, the United States leads the list of nations based on GDP, followed by China in second place. India comes in at number five on this list, Siasat.com reported.
Following is the list of the top 10 countries by GDP:
Country name - GDP (in USD)
United States - 28.78 thousand billion
China - 18.53 thousand billion
Germany - 4.59 thousand billion
Japan - 4.11 thousand billion
India - 3.94 thousand billion
UK - 3.50 thousand billion
France - 3.13 thousand billion
Italy - 2.33 thousand billion
Brazil - 2.33 thousand billion
Canada - 2.24 thousand billion
Top ten richest nations in the world as of 2024
Although GDP is a useful indicator of a nation's economic size, it does not account for per capita income. GDP per capita is a measure of a country's average per capita income.
The top ten richest nations in the world by GDP per capita as of 2024 are listed below:
Country name - GDP per capita (in USD)
Luxembourg - 131.38 thousand
Ireland - 106.06 thousand
Switzerland - 105.67 thousand
Norway - 94.66 thousand
Singapore - 88.45 thousand
United States - 85.37 thousand
Iceland - 84.59 thousand
Qatar - 81.4 thousand
Macao SAR - 78.96 thousand
Denmark - 68.9 thousand
India's GDP per person is estimated by the IMF to be USD 2.73 thousand in 2024.
India's GDP, GDP per capita
Despite India's massive GDP of USD 3.94 trillion, its GDP per capita is still relatively low.
India ranks 138th on the list of the richest nations in the world in 2024 with a GDP per capita of USD 2.73 thousand.
With the banking giant Goldman Sachs predicting that India's economy will overtake the US by 2075 to become the world's second-largest, GDP per capita is also anticipated to rise in the upcoming years.
