The nominal GDP of the top 10 economies adds up to about 66% of the world’s economy, while the top 20 economies contribute almost 79%.1 The remaining 173 countries together constitute less than one-fourth to the world’s economy.
1-U.S. Nominal GDP: $21.44 trillion U.S. GDP (PPP): $21.44 trillion
2-China Nominal GDP: $14.14 trillion China GDP (PPP): $27.31 trillion
3-Japan Nominal GDP: $5.15 trillion Japan GDP (PPP): $5.75 trillion
4-Germany Nominal GDP: $3.86 trillion Germany GDP (PPP): $4.44 trillion
5-India Nominal GDP: $2.94 trillion India GDP (PPP): $10.51 trillion
6-U.K. Nominal GDP: $2.74 trillion U.K. GDP (PPP): $3.04 trillion
7-France Nominal GDP: $2.71 trillion France GDP (PPP): $2.96 trillion
8-Italy Nominal GDP: $1.99 trillion Italy GDP (PPP): $2.40 trillion
9-Brazil Nominal GDP: $1.85 trillion Brazil GDP (PPP): $3.37 trillion
10- Canada Nominal GDP: $1.73 trillion Canada GDP (PPP): $1.84 trillion
IMF’s World Economic Outlook Database, October 2019.
Nominal GDP is GDP evaluated at current market prices. Therefore, nominal GDP will include all of the changes in market prices that have occurred during the current year due to inflation or deflation. ..
GDP (PPP): One popular macroeconomic analysis metric to compare economic productivity and standards of living between countries is purchasing power parity (PPP). PPP is an economic theory that compares different countries’ currencies through a “basket of goods” approach.
