According to data from the International Monetary Fund (IMF), if calculated based on GDP per capita (GDP per capita), Singapore will be the second richest country in the world in 2022.
According to the 2022 list of the world's richest economies, the top three in this favor are Luxembourg , Singapore and Ireland , and the per capita GDP and PPP of reached US$146,94, US$131,580 and US$124,596 respectively. , while , a bridge across , Malaysia , is only 32,901, the gap is as high as 300%!
Singapore has a unique geographical advantage. By developing import and export trade, it has rapidly risen to become a developed country. Now industries such as manufacturing, technology, finance and tourism have become new economic growth points.
(Source: International Monetary Fund IMF)
The report points out that the top three economies have a small main average population, so they are generally relatively wealthy, and benefit from the simple financial field and tax system, which helps attract foreign investment and professional talents.
is in the ASEAN region. In addition to Singapore ranking relatively high, Brunei is also in the top 10 list, with per capita GDP of US$74,953, while Malaysia ranks 58th with an amount of US$32,901.
As for other countries and regions that have made the list, they mainly have a large amount of natural resources. In addition, the epidemic has gradually dissipated, the casino recovery and tourists have begun to roam around in groups, which is also relatively beneficial to the overall performance of the business.
(The following are indicators for Asian countries. Last updated on Saturday, August 13, 2022.
Image source: Trading Economics official website)
Trading Economics provides data on 20 million economic indicators from 196 countries, including actual values, consensus data, forecasts, historical time series and news.
IMF announced the World Economic Outlook Report in April this year that considering inflation and the costs of goods and services around the world, this calculation also added PPP to allow you to more accurately understand a country's average living standard.
According to the standard of World Bank , a country's per capita GDP (or GNP) reaches US$13,000, which basically belongs to a high-income country. However, the concepts of high-income countries and developed countries are not the same. The former has a wider scope and is easier to achieve.
baseline forecast shows that economic growth will slow down from 6.1% last year to 3.2% in 2022, down 0.4 percentage points from the forecast value of the World Economic Outlook in April 2022.
(Photo source: International Monetary Fund IMF)
IMF earlier predicted that China's per capita GDP is expected to reach around US$14,100 this year, which is an advantage of around US$650 compared with the world's per capita level of US$13,450. Meet the entry standards for high-income countries proposed by World Bank and are expected to be upgraded.
However, due to China's further adoption of epidemic prevention and blockade measures and the deepening of the real estate crisis, the forecast of growth rate was lowered by 1.1 percentage points, resulting in a significant global spillover effect.
(Photo source: International Monetary Fund IMF)
(Photo source: International Monetary Fund IMF)
Secondly, the per capita GDP or GNP of about US$13,000 is the value of the final goods and services created by residents, not the actual income of residents. According to international practice, the per capita income of in developing countries in fluctuates between about 40% and 50% of per capita GDP.
Developed countries can provide more high-paying jobs because they are in the middle and high end of the industrial chain. In addition, the financial industry is developed, which can provide residents with higher salary and investment returns, so that their per capita income can reach or exceed 50% of per capita GDP, and their living standards will be better.
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