New York City, Center of U.S. commerce. Photo credit: Reuters
Below is a list of the top 10 smallest countries with the highest GDP per capita. Gross domestic product (GDP) per capita is indicator of economic growth in any country. It is a country’s economic output per person when the GDP is divided by its population.
GDP per capita.
1) Monaco
Monaco has a population of 36,313 people and covers a land area of 2 km².
According to a 2022 estimate by the World Bank, Monaco has a GDP per capita of $240,862.2.
Monaco is a sovereign city-state and microstate on the French Riviera. It is officially called the Principality of Monaco and is bordered by France to the north, east, and west. The official language in Monaco is French. It is one of the wealthiest places in the world.
2) Liechtenstein
Liechtenstein has a population of 39,558 and covers a land area of 160 km².
According to a 2021 estimate by the World Bank, Liechtenstein has a gross domestic product (GDP) per capita of $197,504.55.
Liechtenstein is a microstate located in the Alps between Austria and Switzerland. It is officially called the Principality of Liechtenstein. The official language in Liechtenstein is German and Swiss Standard German. It is bordered by Switzerland to the west and south and Austria to the east and north. The country operates as a constitutional monarchy.
3) San Marino
San Marino has a population of 33,644 people and covers a land area of 61 km².
According to a 2021 estimate by the World Bank, San Marino has a gross domestic product (GDP) per capita of $61,609.
San Marino is a European microstate and enclave within Italy. It is officially called the Republic of San Marino. The official language in San Marino is Italian. The country is located on the northeastern side of the Appennine Mountains.
4) Saint Kitts and Nevis
Saint Kitts and Nevis has a population of 47,745 people and covers a land area of 261 61 km², according to a 2022 estimate by the World Bank, Saint Kitts and Nevis has a gross domestic product (GDP) per capita of $28,770.
St. Kitts and Nevis is an island country located in the West Indies, in the Leeward Islands chain of the Lesser Antilles. It is officially called the Federation of Saint Christopher and Nevis and is considered one of the world’s smallest sovereign federations. The country consists of the two islands of St. Kitts and Nevis and is the smallest sovereign state in the western hemisphere. The official language of St. Kitts and Nevis is English.
5) The Vatican
The Vatican has a population of 517 people and covers a land area of 0.44 km². It is the smallest known state, both by population and land area. The Vatican, also known as the Holy See, has an estimated gross domestic product (GDP) per capita of $21,198.
It is officially called the Vatican City State and is a microstate and an enclave within Rome, Italy. A landlocked country, the Vatican is a sovereign state headed by the Catholic pope. The official languages of the Vatican are Latin and Italian. It is the 18th wealthiest country in the world per capita.
6) Palau
Palau has a population of 18,058 people and covers a land area of 459 km². According to a 2022 estimate by the World Bank, Palau has a gross domestic product (GDP) per capita of $14,113.
Palau is an island country in the Micronesian region. Officially called the Republic of Palau, it consists of about 340 islands. Palau shares maritime boundaries with the Federated States of Micronesia to the east, Indonesia to the south, and the Philippines to the northwest. The official languages of Palau are Palauan and English.
7) Dominica
Dominica has a population of 73,006 people and covers a land area of 751 km². According to a 2022 estimate by the World Bank, Dominica has a gross domestic product (GDP) per capita of $11,464.
Dominica is an island country in the Caribbean with English as its official language. Dominica is both a former French and British colony and is part of the Windward Islands chain in the Lesser Antilles archipelago in the Caribbean Sea. The country is officially called the Common Wealth of Dominica. The official language of Dominica is English.
8) Nauru
Nauru has a population of 12,769 people and covers a land area of 21 km².
According to a 2022 report by the World Bank, Naura has a gross domestic product (GDP) of $11,024.
Nauru is an island country and a microstate in Micronesia. Officially the Republic of Nauru, it is bordered to the east by Banaba, Kiribati, and lies to the northwest of Tuvalu, northeast of the Solomon Islands, and Papua New Guinea. Nauru was formerly called Pleasant Island and lies southeast of the Federated States of Micronesia and south of the Marshall Islands.
The official languages of Nauru are Nauruan and English.
9) The Marshall Islands
The Marshall Islands have a population of 41,952 people and cover a land area of 181 km². According to a 2022 estimate by the World Bank, the Marshall Islands has a gross domestic product (GDP) per capita of $6,004.
The Marshall Islands are an island country located in the Micronesia region. Officially known as the Republic of the Marshall Islands, the country shares maritime boundaries with Wake Island to the north, Nauru to the south, Kiribati to the southeast, and the Federated States of Micronesia to the west. The official languages of the Marshall Islands are Marshallese and English.
10) Tuvalu
Tuvalu has a population of 11,387 people and covers a land area of 26 km². According to a 2022 World Bank estimate, Tuvalu has a gross domestic product (GDP) per capita of $4,591.
Tuvalu is an island country located in the Polynesian subregion of Oceania and lies in the northeast of the Santa Cruz Islands, Vanuatu, and southeast of Nauru. Formerly known as the Ellice Islands, the territory lies to the south of Kiribati, west of Tokelau, northwest of Samoa and Wallis and Futuna, and north of Fiji. The official languages of Tuvalu are Tuvaluan and English.