BiH worst in the region: Only 91st in GDP growth

According to GDP per capita data for 2013 published by the World Bank, Luxembourg remains the richest country in the world, while Bosnia and Herzegovina, based on the latest published data, ranks 91st, which is the worst position among regional countries, reports the Bosnian news agency Patria (NAP).

Croatia is in 46th place, Montenegro in 71st, and Serbia in 79th place. The list includes 215 countries and separate administrative regions from around the world.

From 2009 to 2013, Bosnia and Herzegovina recorded its highest GDP growth in 2011, amounting to 4,754 dollars per capita. The following year it fell to 4,396 dollars, and last year it saw a slight increase to 4,656 dollars per capita, but this is still insufficient for a stronger recovery of the BiH economy and raising the standard of living for citizens, writes NAP.

The GDP of the richest country in the world, Luxembourg, for last year amounted to 111,162 dollars per capita.

Top 10 richest...

1. Luxembourg

In terms of area and population (just over half a million), Luxembourg is a small European country, but in terms of development and economic strength, Luxembourg is a true giant. All economic sectors are developed in Luxembourg, but its economic rise is primarily due to its developed financial and banking sector.

2. Norway

Norway is an example of a mixed economy, and it can thank the exploitation and export of oil and gas for its strong economy. Other important economic sectors of this country are fishing, transport, food processing, shipbuilding, metallurgy, chemical industry, mining, and wood and paper industry.

3. Qatar

The foundation of Qatar's wealth lies in its large reserves of oil and natural gas. To remain one of the economic powers in the future, this Arab country is trying to reduce its dependence on oil reserves and focus on the development of high technology. They are also investing in tourism development.

4. Macao

The separate administrative region of Macao is a gambling paradise in China. It has just over half a million inhabitants and is the only place in China where gambling is legal, and its revenues surpass the world-famous gambling destination Las Vegas.

5. Switzerland

Switzerland is known worldwide as an oasis of free banking, a favorite destination for elite winter tourism, and a kingdom of chocolate. The country also has a highly developed metal, electronic, and pharmaceutical industry.

6. Australia

Australia bases its economic rise on mineral wealth and the development of agriculture and livestock farming, which are the foundation of its exports. The Australian economy is also based on low interest rates.

7. Denmark

Denmark's modern market economy depends most on foreign trade and exports. Although the smallest Nordic country, Denmark is known for its high standard of living. It has a strong fishing industry and a merchant fleet. The main areas of activity in the manufacturing sector are food products, chemicals, machinery, metal products, electronic equipment and transport equipment, as well as paper and wood products. Tourism is also an important economic activity.

8. Sweden

The Swedish economy is based on foreign trade, and the main export branches are the automotive industry, the electronic and communication equipment industry, the wood industry, and the metallurgical industry.

9. Singapore

The multicultural metropolis of Asia, Singapore, is one of the smallest but also the most developed countries in the world. The wealth of this country is based on trade, the electronics industry, and the financial sector, and tourism is also a significant source of income.

10. USA

One of the most influential and powerful countries in the world, thanks to its large area, population, and vast natural resources, manages to be at the very top of the world in almost all industrial branches. The USA is the leading country in the world when it comes to scientific research (space, military technology, informatics, telecommunications, robotics, aviation, biotechnology, medicine...). An important branch of the American economy is also the financial sector, reports index.hr

See the GDP for all 215 countries here.