The latest World Bank estimates put global GDP in nominal terms at about $80 trillion in 2017.
Today’s HowMuch.net chart uses this data to indicate all the foremost economies in a visualization called a Voronoi diagram – let’s dig into the stats to learn more.
Top 10 economies on the planet
Here are the ten largest economies on the planet, which together account for as much as two-thirds of world GDP.
In nominal terms, the US still has the best GDP at $19.4 trillion, representing 24.4% of the world economy.
While China’s economy, at $12.2 trillion in nominal value, lags significantly behind the remainder of the world, it’s value remembering that since 2016, China’s economy has been the world’s largest when bearing in mind purchasing power parity (PPP).
The next two largest economies are Japan ($4.9 trillion) and Germany ($4.6 trillion) – and when the US and China are added, the 4 largest economies together account for greater than 50% of the worldwide economy.
Influencers and influential people
The list of top economies has not modified much over the past few years – in an analogous visualization we published 18 months ago, the highest 4 economies mentioned above were in the exact same order.
But if we glance beyond these current players, we see that the foremost forces shaping the longer term of the worldwide economy are in full swing, especially in emerging markets.
Here are a few of an important moves:
India has already overtaken France in nominal terms, with an economy value $2.6 trillion, or about 3.3% of the worldwide total. In the last quarter, India’s GDP grew at its fastest rate in two years, at about 8.2%.
Brazil, despite its recent economic problems, has overtaken Italy within the GDP rankings and brought eighth place overall.
Türkiye overtook the Netherlands to grow to be the world’s seventeenth largest economy, while Saudi Arabia overtook Switzerland to take nineteenth place.
In Southeast Asia, Indonesia is the one country whose GDP has already exceeded $1 trillion two years ago. Thailand, Singapore, Malaysia and the Philippines account for a big share of Asian GDP.
Source: Howmuch.net | World Economic Forum
