Small Countries with Large Economies

We ranked every country by two factors: Surface Area and GDP. Which countries had a high GDP rank but a low Surface Area rank?
For GDP we used 2020 IMF forecasts, PPP method
No data exists for the Vatican
Quiz by interopia
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Last updated: April 18, 2020
First submittedJuly 6, 2018
Times taken14,560
Rating4.54
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Rank
difference
Country
140
Singapore
112
Taiwan
108
Qatar
102
Netherlands
99
Belgium
98
Israel
95
South Korea
95
Kuwait
92
Switzerland
80
United Arab Emirates
Rank
difference
Country
76
Bahrain
73
Denmark
71
Ireland
69
United Kingdom
69
Czech Republic
68
Austria
66
Luxembourg
63
Dominican Republic
62
Bangladesh
62
Lebanon
+4
Level 46
Feb 4, 2020
Nice quiz, thank you
+10
Level 65
Apr 18, 2020
Why not use GDP per unit area?
+16
Level 83
Apr 18, 2020
Monaco? Brunei? Liechtenstein? Malta? Yet Bangladesh is there? I'm confused. (Not wondering about San Marino, since I'm not sure what they produce there.)
+21
Level 68
Apr 18, 2020
Just like San Marino here, Dan Marino doesn't show up on enough NFL quizzes. Coincidence?
+7
Level 76
Apr 18, 2020
Those European microstates are just so small that even a great relative economy is small in absolute numbers.
+6
Level 83
Apr 18, 2020
Some small countries like Monaco and Liechtenstein aren't included in the IMF list, but they rank in the 140s in other lists, alongside Malawi and South Sudan. High GDP per capita for a country with very few people doesn't translate to a high total GDP. Bangladesh has 160million people, Liechtenstein has 38,000.
+6
Level 67
Apr 19, 2020
It doesnt say anywhere it is GDP per capita though
+6
Level 70
Apr 22, 2020
Exactly Sifhraven - what ECon is saying that a country like Monaco with an extremely high GDP per capita can still have extremely small populations which mean they don't make a lot of money total, and so still score low on total GDP rankings.
+4
Level 80
Jun 1, 2020
it's because of PPP. Bangladesh is an extremely poor country, so local prices are greatly reduced both so that the impoverished people there can afford things and also because labor costs, rent, standards of living and building codes and quality of construction materials etc is extremely low .. so prices reflect this.
when you start trying to assume that all goods in all markets regardless of quality should cost the same thing, and then adjust economy sizes based on this assumption, then all of a sudden Bangladesh has a huge economy.
+2
Level 80
Jun 4, 2020
also there are a ton of people crammed in to Bangladesh, so, when you divide up all the resources between them it gets even more meager.
+1
Level 49
Jun 1, 2020
And Liechtenstein?
+2
Level 80
Jun 4, 2020
they get taken down in the rankings for the same reason. High cost of living.
+1
Level 89
Apr 18, 2020
Yes - really interesting quiz. It's amazing that Liechtenstein doesn't make this list.
+2
Level 80
Apr 18, 2020
The last 3 are quite surprising, although I did get Lebanon as a wild guess.
+6
Level 64
Apr 19, 2020
Never underestimate Lebanon.
+2
Level 83
Apr 18, 2020
Just wondering what sources you are using for country size? For example I have Luxembourg 71st for GDP and 167th for size, which would lead to a rank difference of 96 instead of 66. I've checked some other countries and gotten different results too.
+1
Level 80
Apr 18, 2020
Quizmaster will have to answer this. While I appreciate him featuring my quiz, he changed the methodology I had used.
+4
Level 77
Apr 18, 2020
You're probably not using PPP. Wikipedia list has IMF 2019 estimates, Luxembourg ranks 70 in nominal GDP and 100 in PPP. Country size is less debatable, while for GDP you have quite a choice of methods.
+2
Level 83
Apr 18, 2020
Thanks I think that might be why.
+2
Level ∞
Apr 19, 2020
The source is listed, but if you want more info you can find it here:

https://www.jetpunk.com/info/countries-by-gdp-per-capita

Djilas is right. Most of the time these discrepancies have to do with which method is used to calculate GDP. I prefer Purchasing Power Parity (PPP). Others disagree.

+2
Level 80
Jun 1, 2020
With PPP you can find out amazing things like that Bangladesh is almost as wealthy as Luxembourg.
+2
Level 78
Apr 20, 2020
Has there been any consideration for accepting "DR" as an acceptable answer for Dominican Republic? I have many friends from there and all of them commonly say, "I'm from D.R" or "Down in D.R...." and everybody knows exactly what they're talking about.

It seems so common to me, I'm always mildly surprised it's not accepted on here. And while I can type, I'm sure all of the hunt-and-peck JetPunk'ers would welcome the abbreviation.
+8
Level ∞
Apr 20, 2020
You know what, I was just getting irritated myself with how long it takes to type out Dominican Republic. DR added as a type-in!
+4
Level 48
Jun 1, 2020
Now I'm wondering how many quizzes (apart from countries of the world) would have both DR and DRC as answers.The UK/Ukraine one is annoying but not really anything that can be done about it!
+1
Level 54
Apr 20, 2020
There's some big countries on this quiz... Or I just think every country is big as a Dutchie!
+4
Level 39
Apr 22, 2020
Is your grandmother a Grand Duchy?
+1
Level 19
Jun 1, 2020
how can the UK, South Korea and Bangladesh be small countries??
+2
Level 57
Jun 1, 2020
South Korea is smaller than Iceland.
+2
Level 71
Jun 1, 2020
It's the difference in rank between their land area and their position in terms of gross GDP (read the description). There are 196 countries recognised by Jetpunk. You don't need to be minuscule to have a big difference in your two ranks.
+2
Level 79
Jun 1, 2020
You could fit the UK in my province 4 times and in my country 41 times. It's all relative.
+1
Level 50
Jun 1, 2020
I have to believe you made a mistake not putting Brunei on this quiz
+2
Level 60
Jun 1, 2020
Brunei has a pretty small economy.
+1
Level 49
Jun 1, 2020
Uhh where's Monaco, San Marino, Andorra, Liechtenstein, Brunei, Cyprus, etc?
+1
Level 79
Jun 1, 2020
Read the explanation of how it works. It's not $/km2 (which I think would be a better idea); it's size rank vs. economic rank.
+1
Level 63
Jun 1, 2020
Surprised not to see Japan here
+1
Level 49
Jun 22, 2020
Japan is not a small country.
+1
Level 57
Jun 1, 2020
Bangladesh my foot 😲😲😲😲😲
+1
Level 58
Jun 1, 2020
Typed "czechia" with 2 seconds remaining to get 100%. Also the only time I will call the country Czechia.
+2
Level 70
Jun 1, 2020
How does Denmark make the list? It's total land area is enormous.
+3
Level 79
Jun 3, 2020
Presumably, they aren't including overseas territories, so Greenland doesn't count against it. There should be a note about that.
+1
Level 78
Jun 1, 2020
I had to click on the photo to see where it was taken. Never heard of the Supertrees in Singapore, but after reading about them part of me is amazed in a good way at all their functions and aesthetics, but another part of me is sad that they created artificial trees instead of having the real thing. They look pretty amazing, though.
+1
Level 62
Jun 1, 2020
Its always taiwan that gets me