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Friday, August 14, 2020

Top 5 richest Arab countries in the world (Updated List)

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Richest Arab countries: Arabian countries are at least in the top 50 list of the world’s largest producers of oil and natural gas. The Arabian Peninsula along with all the countries that surround it makeup the Gulf region. Almost all the countries other than the famous two like Kuwait and Qatar are also quite popular for being the countries with the highest value for their currency. So it is quite true that many of these countries are rich enough to make a significant impact on the world’s economy. Here is a look at those countries:

1. Qatar

Qatar is another such country quite close to gulf Nations like Saudi Arabia and United Arab Emirates. It is also one of the largest producer of petroleum and natural gas. Qatar is said to have about 14% of the total world supply of natural gas. This makes it one of the greatest exporters of natural gas. This is one reason why Qatar is the richest Arab country in the world. Some of the harbours of Qatar also said to have a maximum capacity of holding about 450 trillion cubic feet of natural gas. It is said to have a Gross Domestic Product of about $98,900 which is almost twice the GDP of Kuwait.

2. Kuwait

Kuwait is undoubtedly famous throughout the world for having a currency with the highest International value. It is quite popular also for being one of the richest Arab countries in the world. This has made its fortune especially with its roaring economy and oil reserves. Latest said to have total gross domestic product per capita of about 45000 U S dollars . Therefore,  It has made it the second richest Arab country in the world.

3. United Arab Emirates

The United Arab Emirates use its natural resources along with technology to produce something much better than anything else in the world. The most beautiful countries in the world are also taken aback when they look at the buildings in United Arab Emirates, and be it Burj Khalifa or Burj Al Arab even the magnanimous Palm Islands. Almost every beautiful area has been developed in this place especially because of its oil reserves hand ability of this Nation to make good use of its resources. UAE is one of the best examples for our country that is both developed and is still rich with its natural resources. It is said to have a Gross Domestic Product of $44,500 per capita.

4. Bahrain

The Kingdom of Bahrain is a very small Island situated near the Western side of the Persian Gulf. Bahrain is quite popular for having some of the most ideal tourist spots in the world . In addition, it is one of the largest producers of many interesting and exquisite goods. It is said to have a net Gross Domestic Product 27900 US dollars per capita and is there for the fourth richest Arab country in the world.

5. Saudi Arabia

Saudi Arabia is undoubtedly one place which ranked high enough from the beginning as one of the richest Arab countries in the world especially because it is one of the largest producers of oil and natural gas in the world. Even though it runs at the top when it comes to the production of petroleum and petroleum related products it stands at the fifth place in this list which clearly implies having resources does not make a country the richest. Arabia is situated in a place which is geographically one of the most ideal locations for the extraction of most resources in the world. It is said to have a Gross Domestic Product of $24,900.

READ MORE: Top richest countries in Africa

These countries have gathered all these fortunes because of the extravagant oil and gas reserves. All these countries have well-developed infrastructures and are some of the richest countries in the world.

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