How much does an iPhone cost around the world?

A decade ago, Apple’s (AAPL) late CEO Steve Jobs vowed that the newly introduced iPhone would “reinvent the phone.” He never claimed it would be cheap, and for many consumers, it’s not.

According to Linio, a Latin America e-commerce company, U.S. consumers pay an average of  $625.88 for the product that generates more than 60 percent of Apple’s annual revenue. That ranks 39th in Linio’s rankings of iPhone costs in countries around the world, lagging China, Sweden, and Israel among others. 

Many reasons account for the price disparities, including tariffs, taxes and local economic conditions. iPhones in Venezuela, for instance, are the most expensive because the country is being crushed by hyperinflation, which the International Monetary Fund thinks may reach 1,600 percent this year. But even in Angola, where iPhones are the cheapest, poverty is so widespread that few citizens can afford one.

Even so, many U.S. tourists traveling abroad might want to add an iPhone to their shopping lists because they can enjoy considerable savings, in certain countries.

Here are the 10 most expensive countries to buy an iPhone:

1) Venezuela - $97,813.82

2) Singapore - $969.04

3) Dominican Republic - $965.62

4) Argentina - $900.43

5) Guatemala - $889.56

6) Bangladesh - $870.11

7) Norway - $867.28

8) Indonesia - $865.06

9) Costa Rica - $852.94

10) Brazil - $843.40

The 10 least expensive:

1) Angola - $401.94

2) Japan - $413.58

3) China - $470.74

4) Finland - $475.94

5) United Arab Emirates - $498.25

6) India - $505.25

7) Romania - $513.42

8) Saudi Arabia - $513.86

9) Ukraine - $527.50

10) Malaysia - $532.06

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    Jonathan Berr is an award-winning journalist and podcaster based in New Jersey whose main focus is on business and economic issues.