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GDP by Country

GDP by Country
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Introduction

Gross Domestic Product (GDP) serves as a broad measure of a nation's overall economic activity, encompassing the market value of all finished goods and services in a certain timeframe. This critical economic indicator shows how countries perform and compete in the global economic arena. By looking at GDP data compiled by various reputable organizations like the International Monetary Fund, the World Bank, and the United Nations Statistics Division, we can discern patterns, understand regional differences, make predictions, and even craft policies informed by these insights.

  • The United States holds the top spot with a substantial GDP worth $25.463 trillion, outshining other economies by a wide margin. This positioning underscores the massive scale and global influence of the U.S. economy.
  • China, holding the 2nd place, trails behind with a GDP of $17.963 trillion. The country's high ranking demonstrates the success of its transition to a socialist market economy, which powered its rise from the 9th position in 1978 to its current status.
  • Notably, the gap between the second and third largest economies is substantial. Japan, the world's third-largest economy, has a GDP of $4.231 trillion, significantly less than that of China.
  • The top 10 countries, including economic powerhouses like the United States, China, Japan, and Germany, contribute a significant fraction of the global GDP, illustrating the global economic dominance of these nations.

Highest GDP Countries

The United States comfortably holds the number one position, with a GDP of a staggering $25.463 trillion. This is reflective of the country's advanced, diverse economy, which is underpinned by a strong entrepreneurial culture, an abundance of natural resources, and high labor market efficiency.

The second place is claimed by China, with a GDP of $17.963 trillion. This Asian country's move towards a socialist market economy, streamlined by controlled privatization and deregulation strategies have largely contributed to this impressive statistic, surging its share of global nominal GDP from 2% in 1980 to 18% in 2021.

Japan, at third position, has a GDP of $4.231 trillion. Germany follows closely with a GDP of $4.072 trillion, and India completes the top five with a GDP of $3.385 trillion. The United Kingdom, France, Russia, Canada, and Italy also feature in this top 10 list, each with GDPs ranging from $2.010 to $3.071 trillion. 

Highest GDP Countries:

  1. United States - $25.463 trillion
  2. China - $17.963 trillion
  3. Japan - $4.231 trillion
  4. Germany - $4.072 trillion
  5. India - $3.385 trillion
  6. United Kingdom - $3.071 trillion
  7. France - $2.783 trillion
  8. Russia - $2.240 trillion
  9. Canada - $2.140 trillion
  10. Italy - $2.010 trillion

Full Data Set

Frequently Asked Questions

Methodology