5 Richest Muslim Majority Countries in the World

Moslimdaily – Islam is the religion with the second largest number of people in the world with 1.9 billion people. Muslim populations are spread across different countries. A Muslim-majority country is one where more than 50% of the population is Muslim. Today there are about 50 Muslim-majority countries in the world

QATAR one of Richest Countries

Qatar is the richest Muslim-majority country in the world with a population of 1.7 million Muslims. Qatar tops the list of the richest Muslim countries in the world.

Qatar has confirmed a possible per capita gross domestic product of more than US$ 88,919 for 2011. The country is considered one of the fastest growing economies in the world.

the main factor of this rapid growth is due to the continuous increase in production and exports of natural gas, oil, and petrochemicals.

Kuwait

The country with a population of about 3.5 million is the second richest Muslim country in the world. The gross domestic product per capita of the country was US$ 54,654 for 2011 (PPP).

Kuwait has proven crude oil reserves of 104 million barrels, estimated at 10 percent of the world’s reserves. Kuwait’s oil production is expected to increase to 4 million barrels of units by 2020.

In addition, the country also has other large industries including shipping, construction and financial services. Kuwait has a well-developed banking system and the National Bank of Kuwait is the largest bank in the country and one of the largest in the Arab countries.

Brunei Darussalam, one of Richest Countries in Asia

Brunei is the third richest Muslim country in the world. The country has a GDP per capita of about US$ 50,506 for 2010 (PPP). The country is rich because of its vast oil and natural gas fields.

The country’s economy has been dominated by the oil and gas industry for the past 80 years, and hydrogen resources account for more than 90 percent of its exports and more than half of its GDP. The country is the fourth largest oil producer in the region and the ninth largest exporter of liquefied natural gas in the world.

United Arab Emirates (UAE)

The United Arab Emirates takes the 4th position in the list of the most wealthy Muslim-majority countries. Oil and gas were the largest contributors where about 25 percent of GDP amounted to US$ 48,222 dollars for 2011 (PPP).

Domestically, exports of petroleum and natural gas play an important role in the economy, especially in Abu Dhabi.

In addition the development of giant constructions and the expansion of the manufacturing base helped the country diversify its economy.

OMAN

Oman is the fifth richest Muslim country in the world. The country has a GDP per capita of US$ 28,880 in 2011 (PPP).

Oman is estimated to have total petroleum reserves of 5.5 billion barrels. By 2010, the country was expected to produce 816,000 barrels per day.

In addition, the country has also increased the amount of natural gas production due to the development of gas fields. Oman’s natural gas reserves are estimated at 849.5 billion cubic meters. Not stopping there Oman also has other mineral resources including copper, gold, zinc, and iron.

Saudi Arabia

The country in sixth place, has a GDP per capita reaching USD 24,434 or Rp 364 million in 2011. Until now, Saudi Arabia is known to have the second largest oil reserves in the world. While oil from Saudi is known to account for more than 95 percent of exports, that amount in fact also becomes 70 percent of government revenue.

Bahrain

In the next position, Bahrain has a GDP per capita that reached USD 23,690 (Rp 353 million) in 2011. In addition to Qatar, Bahrain has also been named one of the fastest growing economies in the Arab region. In fact, back in 2008, the country was named the fastest growing financial center in the world by the London City Global Financial Center Index.

Bahrain’s banking and financial sectors have been boosted by oil demand. The reason is that petroleum is Bahrain’s most exported product. Apart from aluminum which is considered the second most exported product, followed by finance and construction materials.

Turkey

In eighth place, Turkey has a GDP per capita of around USD 18,885 or Rp 252 million in 2011. Unlike other Muslim-rich countries, Turkey’s economy is improving as it opens up its markets through economic reforms by reducing government control over foreign trade and investment, including the privatization of publicly owned industries.

In fact, Turkish tourism is also experiencing rapid growth and is an important part of the economy. For information, Turkey’s main sectors are banking, construction, oil refining, petrochemicals and automotive. In addition, Turkey is also one of the famous shipbuilders, apart from China, Japan and South Korea, in terms of the number of orders.

Libya

Libya, before the crisis erupted that made the country slumped until now, had a GDP per capita of USD 14,100 in 2011 or around Rp 210 million. As the country with the highest GDP per capita in Africa, Libya also has the 10th largest oil reserves in the world. Apart from occupying the 17th country with the highest petroleum production in the world.

Malaysia, one of Richest Countries of ASEAN

Malaysia became the last country in the largest revenue of GDP per capita of Muslim-rich countries, as it reached USD 15,589 in 2011 (Rp 232 million). The economy of this country tends to be relatively open.

In addition, Malaysia is also known to be an exporter of agricultural resources. Although, the most valuable export resource is petroleum. The country is also the world’s largest producer of tin, rubber and palm oil. Malaysia remains one of the world’s largest palm oil producers. Infrastructure in Malaysia, is also considered one of the most developed in Asia.

Leave a Comment