Qatar richest in the world, says report

September 20, 2010 - 2:01:45 am

DOHA: Qatar has emerged as the richest country in the world with a per capita income of $90,149, according to figures posted on the website of the prestigious US business publication, Global Finance.

The publication said the figures were 2010 estimates. Qatar’s per capita gross domestic product (GDP) or income was $83,841 last year.

The country has achieved the feat due to rising production and exports of liquefied natural gas (LNG) as it is already the world’s largest exporter of the clean fuel and production is expected to soon reach a record 77 million tonnes per annum.

Media reports suggest Luxembourg, which was the world’s wealthiest country for long, was trailing at the second spot with a per capita income of $79,411.

The third spot went to Norway with per capita GDP being $52,964 followed by Singapore ($52,840) and Brunei ($48,714).

The US improved its position to claim number sixth position with per capita earnings of $47,702 followed by Hong Kong ($44,840) and Switzerland ($43,903).

Holland was ninth, retaining its last year’s position, and its per capita GDP was put at $40,601.

But Australia emerged 10th replacing Ireland with a per capita income of $39,841. Congo is the poorest country in the world in terms of per capita GDP.

It is interesting to note that no other GCC or Arab country comes close to Qatar in terms of per capita earnings.

None of the GCC or Arab states also figure among the 10 top wealthiest countries of the world.

Qatar, which has long been the richest Arab and GCC state in terms of per capita wealth, has Kuwait trailing as the second wealthiest state in the Arab world with per capita earnings of $38,984, which is much less than even half of Qatar’s per capita GDP figures.

Kuwait’s per capita income rose marginally from $38,304 in 2009 to $38,984 this year leaving it at number 14 in the world.

THE PENINSULA

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