Islam is one of the largest religions globally, with approximately 1.9 billion followers. These followers are spread across many countries, including Saudi Arabia and Indonesia, which have significant Muslim populations. Despite this commonality, the economic landscapes of these countries are vastly different. Each Muslim-majority country has its own unique economic level. Notably, some of these countries are among the wealthiest in the world.
According to a universitymagazine.ca report, published in TEMPO.CO, Qatar tops the list as the wealthiest Muslim-majority country. With a population of about 1.7 million people, Qatar had a GDP per capita of around $88,919 (approx. Rs 74 lakh) in 2011, making it one of the fastest-growing economies globally. It owes its wealth largely to its exports of natural gas, oil and petrochemicals.
The second on the list is Kuwait, with a population of 3.5 million. In 2011, its GDP per capita was $54,664 (approx Rs 46 lakh). Kuwait boasts crude oil reserves of about 104 million barrels and has a strong economy that is supported by the shipping industry and financial services.
In 2010, Brunei Darussalam had a GDP per capita of $50,506 (approx. Rs 42 lakh), making it the third richest Muslim-majority country. Brunei’s wealth comes from its extensive oil and natural gas fields, which have been operating for over 80 years now. The country is also a major exporter of hydrogen resources and liquefied natural gas.
The United Arab Emirates (UAE) is the fourth richest Muslim-majority country, with a GDP per capita of $48,222 (approx. Rs 40 lakh), in 2011. Like Brunei, the UAE’s economy is also heavily supported by the oil and gas industry, with significant contributions from petroleum and natural gas exports too.
Oman ranks fifth, with oil reserves of 5.5 billion barrels or 816,000 barrels per day, according to TEMP.CO. In 2011, its GDP per capita was $28,880 (approx. Rs 24 lakh). Oman also has substantial gas reserves and other resources like copper, gold, zinc and iron.
Next up is Saudi Arabia, being the sixth richest Muslim-majority country. In 2011, its GDP per capita was $24,434 ((approx. Rs 20 lakh). Saudi Arabia is the second-largest oil producer globally, contributing significantly to its wealth.
On the seventh rank, comes Bahrain, with a GDP per capita of $23,690 (approx. Rs 19 lakh) in 2011. Its rapidly growing economy is supported by exports of aluminum, petroleum and construction materials.
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