Photo: PixabayIn the survey "The richest and poorest countries in the world" published by Global Finance magazine, Serbia is in 72nd place.
According to that list, the richest countries in the world are Luxembourg, Singapore, Ireland and Qatar. The poorest are Syria, Afghanistan, Lebanon and Ukraine.
Looking at the region, Croatia ranks 53rd, Montenegro ranks 69th, Serbia ranks 72nd, Bosnia and Herzegovina ranks 88th, and Albania ranks 92nd.
“If we simply consider a nation's gross domestic product—the sum of all goods and services produced by a country during one year - then we would have to conclude that the richest nations are exactly the ones with the largest GDP: United States, China, Japan, Germany. But how could the economies, for example, of Singapore or Luxembourg ever match that of such powerhouses when they are no more than small dots on the world map“, according to biznis.rs.
Another problem with GDP, Global Finance notes, is that it does not measure the distribution of wealth.
“That is why a more accurate representation of people’s living conditions begins with dividing a nation's GDP by the number of people that live there: per capita GDP and its growth rate tell us much more about the social wealth potentially available to each person and whether this wealth is either increasing or decreasing over time“, states the text.
Source: biznis.rs
