World’s richest and poorest countries ?

Posted on August 26, 2010

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This is a interesting piece of news which I recieved in my mail. It summarizes the state of many countries financial status.

We know the world’s richest man is Carlos Slim Helu of Mexico, followed by Bill Gates and Warren Buffet of USA.

How about governments?

Which countries’ government is the richest (having most money that is, in US$)

If you are expecting North American and European nations, you might be disappointed.
While the countries look rich, wealthy European nations can’t withstand a prolonged major financial crisis, just like Greece.

The USA might have the biggest economy, but the American government is not at all rich; in fact, it can’t even take out $150bn if asked to now without resorting to borrowing.
To date the US government has borrowed $14 trillion!

The UK, likewise, while the country/people are rich, the government isn’t.
The UK government’s debt stands at $9 trillion now.

World’s Richest Government

Richest governments after 2008-2009 financial crisis:

1. Peoples Republic of China

National reserves: $2,454,300,000,000

2. Japan

National reserves: $1,019,000,000,000

3. Russia

National reserves: $458,020,000,000

4. Saudi Arabia

National reserves: $395,467,000,000

5. Taiwan

National reserves: $362,380,000,000

6. India

National reserves: $279,422,000,000

7. South Korea

National reserves: $274,220,000,000

8. Switzerland

National reserves: $262,000,000,000

9. Hong Kong, China

National reserves: $256,000,000,000

10. Brazil

National reserves: $255,000,000,000

Here are the rest, in million US$:

11 Singapore / 203,436

12 Germany / 189,100

13 Thailand / 150,000

14 Algeria / 149,000

15 France / 140,848

16 Italy / 133,104

17 United States / 124,176

18 Mexico / 100,096

19 Iran / 96,560

20 Malaysia / 96,100

21 Poland / 85,232

22 Libya / 79,000

23 Denmark / 76,315

24 Turkey / 71,859

25 Indonesia / 69,730

26 United Kingdom / 69,091

27 Israel / 62,490

28 Canada / 57,392

29 Norway / 49,223

30 Iraq / 48,779

31 Argentina / 48,778

32 Philippines / 47,650

33 Sweden / 46,631

34 United Arab Emirates / 45,000

35 Hungary / 44,591

36 Romania / 44,056

37 Nigeria / 40,480

38 Czech Republic / 40,151

39 Australia / 39,454

40 Lebanon / 38,600

41 Netherlands / 38,372

42 South Africa / 38,283

43 Peru / 37,108

44 Egypt / 35,223

45 Venezuela / 31,925

46 Ukraine / 28,837

47 Spain / 28,195

48 Colombia / 25,141

49 Chile / 24,921

50 Belgium / 24,130

51 Brunei / 22,000

52 Morocco / 21,873

53 Vietnam / 17,500

54 Macau / 18,730

55 Kazakhstan / 27,549

56 Kuwait / 19,420

57 Angola / 19,400

58 Austria / 18,079

59 Serbia / 17,357

60 Pakistan / 16,770

61 New Zealand / 16,570

62 Bulgaria / 16,497

63 Ireland / 16,229

63 Portugal / 16,254

64 Croatia / 13,720

65 Jordan / 12,180

66 Finland / 11,085

67 Bangladesh / 10,550

68 Botswana / 10,000

69 Tunisia / 9,709

70 Azerbaijan / 9,316

71 Bolivia / 8,585

72 Trinidad and Tobago / 8,100

73 Yemen / 7,400

74 Uruguay / 8,104

75 Oman / 7,004

76 Latvia / 6,820

77 Lithuania / 6,438

78 Qatar / 6,368

79 Cyprus / 6,176

80 Belarus / 6,074

81 Syria / 6,039

82 Uzbekistan / 5,600

83 Luxembourg / 5,337

84 Guatemala / 5,496

85 Greece / 5,207

86 Bosnia and Herzegovina / 5,151

87 Cuba / 4,247

88 Costa Rica / 4,113

89 Equatorial Guinea / 3,928

90 Ecuador / 3,913

91 Iceland / 3,823

92 Paraguay / 3,731

93 Turkmenistan / 3,644

94 Estonia / 3,583

95 Malta / 3,522

96 Myanmar / 3,500

97 Bahrain / 3,474

98 Kenya / 3,260

99 Ghana / 2,837

100 El Salvador / 2,845

101 Sri Lanka / 2,600

102 Cambodia / 2,522

103 Côte d’Ivoire / 2,500

104 Tanzania / 2,441

105 Cameroon / 2,341

106 Macedonia / 2,243

107 Dominican Republic / 2,223

108 Papua New Guinea / 2,193

109 Honduras / 2,083

110 Armenia / 1,848

111 Slovakia / 1,809

112 Mauritius / 1,772

113 Albania / 1,615

114 Kyrgyzstan / 1,559

115 Jamaica / 1,490

116 Mozambique / 1,470

117 Gabon / 1,459

118 Senegal / 1,350

119 Georgia / 1,300

120 Panama / 1,260

121 Sudan / 1,245

122 Zimbabwe / 1,222

123 Slovenia / 1,105

124 Moldova / 1,102

125 Zambia / 1,100

126 Nicaragua / 1,496

127 Mongolia / 1,000

128 Chad / 997

129 Burkina Faso / 897

130 Lesotho / 889

131 Ethiopia / 840

132 Benin / 825

133 Namibia / 750

134 Madagascar / 745

135 Barbados / 620

136 Laos / 514

137 Rwanda / 511

138 Swaziland / 395

139 Togo / 363

140 Cape Verde / 344

141 Tajikistan / 301

142 Guyana / 292

143 Haiti / 221

144 Belize / 150

145 Vanuatu / 149

146 Malawi / 140

147 Gambia / 120

148 Guinea / 119

149 Burundi / 118

150 Seychelles / 118

151 Samoa / 70

152 Tonga / 55

153 Liberia / 49

154 Congo / 36

155 São Tomé and Príncipe / 36

156 Eritrea / 22

Big national reserves doesn’t guarantee prosperity however, for instance, the yearly expenses for China’s government is $1.11 trillion, their government must always think of economic growth and making more money.

China’s gov’t overspent $110bn last year, much on it towards modernizing their military, if it goes on like this their reserves can only last for 22 yrs.

The Malaysian gov’t overspent $13bn last year, if it goes on like this their reserves can only last for 7 yrs.

The Singaporean government overspent $3bn last year, much of it rescuing their banks from financial crisis, if it goes on like this their reserves can last 68 yrs.

The Swiss gov’t overspent $1bn last year, if it goes on like this their reserves can last 262 yrs.

A country normally can borrow up to 100% its GDP, a very strong industrial country or very financial stable nation can borrow up to perhaps 200% its GDP, debts over 250% GDP the country is bankrupted.

Greece’s Debts Is 113.40% GDP, In Danger As It Is Not Considered A Strong Industrial Or Financial Country.

Iceland Is 107.60%, Also In Crisis As It Is Not So Strong Industrial Or Financially.

Singapore Debts Is 113.10%, Not In Hot Water Due To Its Global Financial Hub Status, And Also Its Financial Strength. It’s Only Dangerous For Singapore When It Reaches 200%

Japan Debts Is 189.30%, Still Under Radar As A Powerful Industrial Nation. It Needs To Panic Only At Around 200%

US Has The World Largest Debts, But It Is Only 62% Its GDP, It Is Not In Any Immediate Danger Of Bankruptcy.

Zimbabwe Debts Is 282.60% GDP, It Is A Bankrupted Nation.

Malaysia Debts Is Currently At 53.70% GDP.

Hong Kong And Taiwan Is Doing Pretty Good With Debts At 32-37% GDP

South Korea Is Even Better With Debts At 23.5% GDP

China Is Very Stable With Debts At 16.90% GDP

Russia Is Like A Big Mountain With Debts Only At 6.30% GDP

There Are Only 5 Countries With No Debt (I.E. 0%) –

Brunei, Liechtenstein, Palau, Nieu, And Macau Of China.

World’s Richest Government. . .

Posted in: Business, Economics