Richest Countries in the World in 2012


Bangalore: If wealth describes power, then the United Sates leads the pack and India is not far behind either. The 10 richest countries in the world based on their GDP are:

1. United States of America:

The United States of America is the richest country in the world and ranks first on the list. The U.S. is a market-oriented economy where private individuals and business companies make most of the decisions. The U.S. economy is the world's largest national economy, with an estimated GDP of $15.1 trillion in 2011.

2. China:

China is the second richest country in the world. China’s annual GDP growth is 2.26 percent earning $7,743.144 trillion. The country’s economy is the second largest in the world after that of the United States. During the past thirty years China's economy has changed from a centrally planned system that was largely closed to international trade to a more market-oriented one that has a rapidly growing private sector.  A chief component supporting China's rapid economic growth has been exports growth.