In this article we are going to list the 5 most powerful Islamic countries in the world. For a detailed coverage of this topic and a more comprehensive list please take a look at the 15 most powerful Islamic countries in the world.
5. Saudi Arabia
Insider Monkey Score: 90.0
Saudi Arabia was a desert till the discovery of massive oil reserves which resulted in the country transforming very quickly into a modern state. The country had the highest GDP growth in 2022 among all G20 countries at 8.7%, cementing its place among the most powerful Islamic countries in the world. The country’s proxy war has resulted in Saudi Arabia accelerating its spending on defense while almost 80% of its arms purchases come from the U.S.
4. Egypt
Insider Monkey Score: 90.2
Since March 2022, the Egyptian pound has lost nearly 50% of its value against the dollar, even as economic growth is offset by significant population growth. This is why despite economic growth, many Egyptians believe their standard of living has decreased over years. Meanwhile, its military has unprecedented control over most aspects of governance, which is why its military strength is so high. Despite these setbacks, Egypt is easily among the richest countries in Africa.
3. Pakistan
Insider Monkey Score: 91.2
Pakistan boasts the strongest military in the Muslim world, which should come as no surprise considering the threat it faces from India and the fact that it is the only official Muslim nuclear power in the world. However, while its military is fearsome, its economy is anything but and the country has struggled in the past year, with threats of a default looming.
2. Turkiye
Insider Monkey Score: 93.8
The third-largest economy in the Muslim world, Turkiye has already been reeling from an economic crisis which has resulted in hyperinflation in the last decade. The country’s issues have been exacerbated by the recent earthquake in the region and Syria, which resulted in more than 50,000 deaths and will have long-term economic impacts. This might result in Turkiye having to compromise on its ever-escalating military budget, despite the economic crisis in the nation.
1. Indonesia
Insider Monkey Score: 94.2
Topping the list of the 15 most powerful Islamic countries in the world is the most populous Islamic country and the only such nation whose GDP exceeds $1 trillion, coming in at $1.2 trillion in 2021. One of the biggest economies in emerging markets, its backbone is the country’s strong middle class. The threat of inflation hasn’t spared Indonesia, because of which the country is now looking towards higher internal consumption to drive growth in 2023. Even though the country boasts a strong military, it is still aiming to become a dominant maritime power, with its biggest threats coming from China’s intrusions and the nuclear submarine deal by Australia, the United Kingdom and the U.S.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out our articles on 15 Biggest Private Oil Companies in the World and Top 10 Growth Stocks in Biotech.
