The economic health of a country is indicated by GDP (Gross Domestic Product), which refers to the entire market value of all the goods and services a nation produces in a given year.
The real GDP helps in ranking the countries economically. Fluctuations in the rate of a country’s currency also can lead to varying results.
Below, we write about the world's largest economies. There are top 10 countries listed which are the biggest and largest economies in the world.
Here is the latest list of the top 10 countries with the largest economies in the world
1. The United States
The United States is the highest GDP country in the world. The real GDP of the United States is calculated to be $20.94 trillion. The services sector of the United States is much additional developed and technologically refined. This fact accounts for about 80% of the overall output.
Hence the largest corporations and the part played by the firms offering their services in the fields of technology, retail, finance, and healthcare play a major role on the global stage.
2. China
China is the 2nd highest GDP country with a major economy. The Chinese economy has witnessed astonishing enlargement over the previous couple of decades. This reality has helped the country capture the much desired second place in the list of top 10 economies of the globe. The real GDP(Gross Domestic Product) of China in 2020 was $14.72 trillion. 3. Japan
Japan is the 3rd highest GDP country in the world. Based on the important GDP forecast, the Japanese economy ranks third presently at an estimate of $5.05 trillion. During 1960, the 70s, and 80s, Japan’s economy was growing rapidly.
However, Japan’s economy had not been impressive after that period throughout the 1990s. Over the past decade, Japan has been doing its best to enlarge its economy.
4. Germany
Germany is the 4th highest GDP country. With a real GDP of $3.84 trillion, Germany captures fourth place among the top five economies on the globe.
After a brief plummeting in 2009, Germany's economy bounced forward with a 4.0% expansion a decade back. The years that followed saw the country showing harmonious results.
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5. The United Kingdom
UK is the 5th highest GDP country. The average annual enlarge of the UK's GDP between 1999 and 2008 was 2.8%. The growth is most likely to slow down due to a dip in private consumption and dampening of fixed investments under the uncertain conditions created by the BREXIT.
However, with its real GDP of $2.76 trillion, the United Kingdom can still hold its position among the world biggest economy.
6. India
India is the 6th highest GDP country. Having overtaken the French economy, India sits at the sixth position as the uppermost economy on the planet with a real GDP of $2.66 trillion. The Indian economy also has become the world’s fastest-growing economy among large economies.
7. France
France is the 7th highest GDP country. France’s GDP estimate represents $2.63 trillion. At present over 70% of the nation's GDP stalk from the service sector. France is also the global leader in the areas of automotive, railway, and aerospace.
8. Italy
Italy is the 8th highest GDP country. The third-largest financial system in the European Union, Italy, includes an extremely developed market. The country is additionally standard for its powerful and innovative business economic sector, an industrious and competitive agricultural sector.
The important GDP of Italy is calculable to be $1.88 trillion creating it the 8th largest economy in the world.
9. Canada
Canada is the 9th GDP country. The real GDP of Canada is valued at $1.64 trillion, creating it the ninth largest economy in the world. whereas staying in the ninth position of the biggest world economies, Canada is simply one place sooner than South Korea. 10. South Korea
South Korea is the 10th highest GDP country. South Korea is an extremely developed economy and is the 4th largest economy in Asia.
The country still remains one of the quickest growing developed countries in the world, following the good recession. Supporting the real GDP forecast, the South Korean economy ranks tenth, valued at $1.63 trillion.
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