medals per population would be a better way:
Olympic Medals per Capita
1 Grenada 1 106,825 106,825
2 Bahamas 2 388,019 194,009
3 Jamaica 11 2,725,941 247,812
4 New Zealand 18 4,595,700 255,316
5 Denmark 14 5,676,002 405,428
6 Croatia 10 4,224,404 422,440
7 Slovenia 4 2,063,768 515,942
8 Georgia 7 3,679,000 525,571
9 Azerbaijan 15 9,651,349 643,423
10 Hungary 15 9,844,686 656,312
11 Bahrain 2 1,377,237 688,618
12 Lithuania 4 2,910,199 727,549
13 Armenia 4 3,017,712 754,428
14 Australia 29 23,781,169 820,040
15 Sweden 11 9,798,871 890,806
16 Fiji 1 892,145 892,145
17 Netherlands 18 16,936,520 940,917
18 Great Britain 66 65,138,232 986,942
19 Serbia 7 7,098,247 1,014,035
20 Kazakhstan 17 17,544,126 1,032,007
21 Cuba 11 11,389,562 1,035,414
22 Belarus 9 9,513,000 1,057,000
23 Czech Republic 9 10,551,219 1,172,357
24 Norway 4 5,195,921 1,298,980
25 Estonia 1 1,311,998 1,311,998
26 Slovakia 4 5,424,050 1,356,012
27 Switzerland 6 8,286,976 1,381,162
28 Mongolia 2 2,959,134 1,479,567
29 Canada 22 35,851,774 1,629,626
30 France 40 66,808,385 1,670,209
31 Greece 6 10,823,732 1,803,955
32 Kosovo 1 1,859,203 1,859,203
33 Belgium 6 11,285,721 1,880,953
34 Germany 41 81,413,145 1,985,686
35 Qatar 1 2,235,355 2,235,355
36 Ireland 2 4,640,703 2,320,351
37 Italy 26 60,802,085 2,338,541
38 South Korea 21 50,617,045 2,410,335
39 Russian Federation 53 144,096,812 2,718,807
40 United States 116 321,418,820 2,770,851 <========LOL