Where is Hungary on the list of the world’s richest countries?

The International Monetary Fund (IMF) ranked the world’s countries according to their GDP per capita. One of the smallest countries in Europe is ranked first, while the last places are almost without exception occupied by African countries.

Hungary’s ranking in the 190-strong competition may surprise many, Index writes.

GDP per capita can reveal a lot about the economic development of a society. In a recent study, the IMF ranked countries according to their expected per capita economic output in 2023.

The richest country is Luxembourg, with a GDP per capita of nearly USD 130,000.

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The richest country has nearly 415 times the GDP per capita of the poorest country in the world, Burundi. There, the figure is just USD 303.

Hungary is in 57th place with USD 20,119, leaving behind Romania, Poland and Croatia, but beaten by Slovakia and Slovenia.

It is worth noting, however, that GDP per capita is not a comprehensive welfare indicator, as it only provides a picture of economic performance, Index clears. For example, increasing production can lead to pollution, health problems and often associated increases in expenditure that increase GDP but do not contribute to improving quality of life.

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