The UAE is the seventh among the 25 richest countries
The United Arab Emirates ranked 7th in the world in the list of the 25 richest countries in the world released yesterday by Wall Street 7/24 and surpassed Norway, Ireland, Brunei Darussalam, the United States, Hong Kong, Denmark and Iceland.
According to the site’s estimates, the per capita gross national income for the year 2019 amounted to $ 70,240, which is one of the highest in the world, while the gross domestic product for the year 2019 was about $ 421.1 billion and ranked 30 out of 206 countries, and the population was estimated at 9.8 million people.
The UAE source of wealth among the richest countries
The Delaware-based American company website said that the United Arab Emirates derives its wealth largely from its natural resources, specifically oil, as the country accounts for nearly 6% of the world’s proven oil reserves, and crude and refined oil exports generated about 40% of the country’s 242 billion exports, Dollars in 2018. The country is working to diversify its economy and to boost the trade and tourism sectors, and focus on improving the education of its residents.
The information needed to determine the richest countries in the world
In order to determine the richest countries in the world, Wall Street, using data from the World Bank, 24/7 Using the purchasing power parity method, which is at current international dollar rates.
Common factors among the richest countries
Most of the countries on this list share many common factors among the richest countries, including reliable infrastructure, trust in public institutions, extensive international trade, efficient management and utilization of natural resources. While the majority of these countries have diverse and complex economies, some, especially those in the Middle East, depend almost entirely on their oil wealth. In the Arab world, Kuwait ranked 16th and Saudi Arabia ranked 25.
Residents of one of these wealthy countries tend to have better access to housing, education, nutrition, and health care, as well as all factors that help to improve health outcomes.