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List of countries by GDP (nominal)

Largest economies by nominal GDP in 2018[1]

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year.[2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.[3] Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.[4]

Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP.[5] On the whole, PPP per capita figures are less spread than nominal GDP per capita figures.[6]

The United States is the world's largest economy with a GDP of approximately $19.39 trillion, notably due to high average incomes, a large population,[7] capital investment, moderate unemployment,[8] high consumer spending,[9] a relatively young population,[10] and technological innovation.[11] Tuvalu is the world's smallest national economy, with a GDP of about $32 million, because of its very small population, a lack of natural resources, reliance on foreign aid, negligible capital investment, demographic problems, and low average incomes.[12]

Although the rankings of national economies have changed considerably over time, the United States has maintained its top position since the Gilded Age, a time period in which its economy saw rapid expansion, surpassing the British Empire and Qing dynasty in aggregate output.[13][14] Since China's transition to a market-based economy through privatisation and deregulation,[15][16] the country has seen its ranking increase from ninth in 1978 to second to only the United States in 2016 as economic growth accelerated and its share of global nominal GDP surged from 2% in 1980 to 15% in 2016.[14][17] India has also experienced a similar economic boom since the implementation of economic liberalisation in the early 1990s.[18] When supranational entities are included, the European Union is the second largest economy in the world. It was the largest from 2004, when ten countries joined the union,[19] to 2014, after which it was surpassed by the United States.[20]

The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF definitive data for the past year and estimates for the current year are published twice a year in April and October. Several economies which are not considered to be countries (the world, the European Union, and some dependent territories) are included in the lists because they appear in the sources as distinct economies. These economies are italicized and not ranked in the charts, but are listed where applicable.

Contents

Lists

Per the International Monetary Fund (2017)[17] Per the World Bank (2017)[21] Per the United Nations (2016)[22][23]
Rank Country GDP
(US$million)
   World[20] 79,865,481
1   United States 19,390,600
2   China[n 1] 12,014,610
3   Japan 4,872,135
4   Germany 3,684,816
5   United Kingdom 2,624,529
6   India 2,611,012
7   France 2,583,560
8   Brazil 2,054,969
9   Italy 1,937,894
10   Canada 1,652,412
11   South Korea 1,538,030
12   Russia[n 2] 1,527,469
13   Australia 1,379,548
14   Spain 1,313,951
15   Mexico 1,149,236
16   Indonesia 1,015,411
17   Turkey 849,480
18   Netherlands 825,745
19   Saudi Arabia 683,827
20    Switzerland 678,575
21   Argentina 637,717
22   Taiwan 579,302
23   Sweden 538,575
24   Poland 524,886
25   Belgium 494,733
26   Thailand 455,378
27   Iran 431,920
28   Austria 416,845
29   Norway 396,457
30   United Arab Emirates 377,435
31   Nigeria 376,284
32   Israel 350,609
33   South Africa 349,299
34   Hong Kong 341,659
35   Ireland 333,994
36   Denmark 324,484
37   Singapore 323,902
38   Malaysia 314,497
39   Philippines 313,419
40   Colombia 309,197
41   Pakistan 303,993
42   Chile 277,042
43   Bangladesh 261,374
44   Finland 253,244
45   Egypt 237,073
46   Vietnam 220,408
47   Portugal 218,064
48   Peru 215,224
49   Czech Republic 213,189
50   Romania 211,315
51   Venezuela 210,085
52   New Zealand 201,485
53   Greece 200,690
54   Iraq 197,699
55   Algeria 178,287
56   Qatar 166,326
57   Kazakhstan 160,839
58   Hungary 152,284
59   Angola 124,209
60   Kuwait 120,351
61   Morocco 109,824
62   Ukraine 109,321
63   Ecuador 102,311
64   Puerto Rico 98,805
65   Slovakia 95,938
66   Sri Lanka 87,591
67   Ethiopia 80,874
68   Kenya 79,511
  Syria[n 3] 77,460/Na
69   Guatemala 75,661
70   Dominican Republic 75,018
71   Oman 74,274
72   Myanmar 66,537
73   Luxembourg 62,393
74   Uruguay 58,415
75   Panama 61,838
76   Costa Rica 58,056
77   Sudan 58,239
78   Bulgaria 56,943
79   Croatia 54,516
80   Belarus 54,436
81   Tanzania 51,725
82   Lebanon 51,457
83   Macau 49,802
84   Slovenia 48,868
85   Uzbekistan 47,883
86   Lithuania 47,263
87   Ghana 47,032
88   Serbia 41,471
89   Democratic Republic of the Congo 41,441
90   Azerbaijan 40,670
91   Jordan 40,487
92   Côte d'Ivoire 40,360
93   Tunisia 40,275
94   Turkmenistan 37,926
95   Bolivia 37,122
96   Bahrain 34,895
97   Cameroon 34,006
98   Libya 31,331
99   Latvia 30,319
100   Paraguay 29,619
101   El Salvador 28,023
102   Uganda 26,349
103   Estonia 25,973
104   Zambia 25,504
105     Nepal 24,472
106   Iceland 23,909
107   Papua New Guinea 23,617
108   Honduras 22,975
109   Cambodia 22,252
110   Cyprus 21,310
111   Afghanistan 20,889
112   Trinidad and Tobago 20,300
113   Bosnia and Herzegovina 17,457
114   Laos 17,152
115   Zimbabwe 17,105
116   Botswana 16,725
117   Yemen 16,511
118   Senegal 16,057
119   Georgia 15,230
120   Mali 14,998
121   Gabon 14,467
122   Jamaica 14,290
123   Nicaragua 13,692
124   Burkina Faso 13,187
125   Albania 13,001
126   Namibia 12,558
127   Mozambique 12,345
128   Mauritius 12,273
129   Malta 12,011
130   Brunei 11,963
131   Macedonia 11,416
132   Armenia 11,037
133   Mongolia 10,869
134   Madagascar 10,557
135   Equatorial Guinea 10,069
136   Chad 9,740
137   Benin 9,410
138   Guinea 9,183
139   Bahamas 9,127
140   Rwanda 8,918
141   Kosovo 8,883
142   Haiti 8,360
143   Moldova 7,945
144   Niger 7,892
145   Republic of Congo 7,799
146   Tajikistan 7,234
147   Kyrgyzstan 7,061
148   Malawi 6,261
149   Eritrea 6,050
150   Fiji 5,054
151   Mauritania 4,985
152   Barbados 4,821
153   Togo 4,797
154   Maldives 4,520
155   Montenegro 4,405
156   Swaziland 4,030
157   Sierra Leone 3,897
158   Suriname 3,665
159   Guyana 3,591
160   Burundi 3,393
161   South Sudan 2,870
162   Lesotho 2,721
163   Timor-Leste 2,716
164   Bhutan 2,321
165   Liberia 2,140
166   Djibouti 2,082
167   Central African Republic 1,992
168   Belize 1,819
169   Cape Verde 1,728
170   St. Lucia 1,717
171   San Marino 1,592
172   Antigua and Barbuda 1,535
173   Seychelles 1,479
174   Guinea-Bissau 1,295
175   Solomon Islands 1,273
176   Grenada 1,111
177   The Gambia 1,038
178   St. Kitts and Nevis 939
179   Samoa 844
180   Vanuatu 837
181   St. Vincent and the Grenadines 815
182   Comoros 659
183   Dominica 608
184   Tonga 437
185   São Tomé and Príncipe 372
186   Federated States of Micronesia 329
187   Palau 321
188   Marshall Islands 199
189   Kiribati 186
190   Tuvalu 40
Rank Country GDP
(US$million)
   World 80,683,787
1   United States 19,390,604
    European Union[24] 17,277,698
2   China[n 4] 12,237,700
3   Japan 4,872,137
4   Germany 3,677,439
5   United Kingdom 2,622,434
6   India 2,597,491
7   France 2,582,501
8   Brazil 2,055,506
9   Italy 1,934,798
10   Canada 1,653,043
11   Russia[n 2] 1,577,524
12   South Korea 1,530,751
13   Australia 1,323,421
14   Spain 1,311,320
15   Mexico 1,149,919
16   Indonesia 1,015,539
17   Turkey 851,102
18   Netherlands 826,200
19   Saudi Arabia 683,827
20    Switzerland 678,887
21   Argentina 637,590
22   Sweden 538,040
23   Poland 524,510
24   Belgium 492,681
25   Thailand 455,221
26   Iran 439,514
27   Austria 416,596
28   Norway 398,832
29   United Arab Emirates 382,575
30   Nigeria 375,771
31   Israel 350,851
32   South Africa 349,419
33   Hong Kong 341,449
34   Ireland 333,731
35   Denmark 324,872
36   Singapore 323,907
37   Malaysia 314,500
38   Philippines 313,595
39   Colombia 309,191
40   Pakistan 304,952
41   Chile 277,076
42   Finland 251,885
43   Bangladesh 249,724
44   Egypt 235,369
45   Vietnam 223,864
46   Portugal 217,571
47   Czech Republic 215,726
48   Romania 211,803
49   Peru 211,389
50   New Zealand 205,853
51   Greece 200,288
52   Iraq 197,716
53   Algeria 170,371
54   Qatar 167,605
55   Kazakhstan 159,407
56   Hungary 139,135
57   Angola 124,209
58   Kuwait 120,126
59   Sudan 117,488
60   Ukraine 112,154
61   Morocco[n 5] 109,139
62   Ecuador 103,057
63   Slovak Republic 95,769
64   Sri Lanka 87,175
65   Ethiopia 80,561
66   Dominican Republic 75,932
67   Guatemala 75,620
68   Kenya 74,938
69   Oman 72,643
70   Myanmar 69,322
71   Luxembourg 62,404
72   Panama 61,838
73   Costa Rica 57,057
74   Bulgaria 56,832
75   Uruguay 56,157
76   Croatia 54,849
77   Belarus 54,442
78   Tanzania[n 6] 52,090
79   Lebanon 51,844
80   Libya 50,984
81   Macau 50,361
82   Slovenia 48,770
83   Uzbekistan 48,718
84   Ghana 47,330
85   Lithuania 47,168
86   Turkmenistan 42,355
87   Serbia 41,432
88   Azerbaijan 40,748
89   Cote d'Ivoire 40,389
90   Tunisia 40,257
91   Jordan 40,068
92   Bolivia 37,509
93   Democratic Republic of the Congo 37,241
94   Bahrain 35,307
95   Cameroon 34,799
96   Latvia 30,264
97   Paraguay 29,735
98   Estonia 25,921
99   Uganda 25,891
100   Zambia 25,809
101   El Salvador 24,805
102     Nepal 24,472
103   Iceland 23,909
104   Honduras 22,979
105   Cambodia 22,158
106   Trinidad and Tobago 22,105
107   Cyprus[n 7] 21,652
108   Papua New Guinea 21,089
109   Afghanistan 20,815
110   Bosnia and Herzegovina 18,169
111   Zimbabwe 17,846
112   Botswana 17,407
113   Laos 16,853
114   Senegal 16,375
115   Mali 15,288
116   Georgia[n 8] 15,159
117   Jamaica 14,768
118   Gabon 14,623
119   West Bank and Gaza 14,498
120   Nicaragua 13,814
121   Mauritius 13,338
122   Namibia 13,245
123   Albania 13,039
124   Burkina Faso 12,873
125   Malta 12,538
126   Equatorial Guinea 12,487
127   Mozambique 12,334
128   The Bahamas 12,162
129   Brunei 12,128
130   Armenia 11,537
131   Madagascar 11,500
132   Mongolia 11,488
133   Macedonia 11,338
134   Guinea 10,491
135   Chad 9,981
136   Benin 9,274
137   Rwanda 9,137
138   Republic of the Congo 8,723
139   Haiti 8,408
140   Moldova[n 9] 8,128
141   Niger 8,120
142   Kyrgyzstan 7,565
143   Somalia 7,369
144   Tajikistan 7,146
145   Kosovo 7,129
146   Malawi 6,303
147   Fiji 5,061
148   Mauritania 5,025
149   Togo 4,813
150   Barbados 4,797
151   Montenegro 4,774
152   Maldives 4,597
153   Swaziland 4,409
154   Sierra Leone 3,774
155   Guyana 3,676
156   Burundi 3,478
157   Suriname 3,324
158   Andorra 3,013
159   Timor-Leste 2,955
160   Lesotho 2,639
161   Bhutan 2,512
162   Liberia 2,158
163   Central African Republic 1,949
164   Djibouti 1,845
165   Belize 1,838
166   Cabo Verde 1,754
167   Saint Lucia 1,712
168   San Marino 1,659
169   Antigua and Barbuda 1,532
170   Seychelles 1,486
171   Guinea-Bissau 1,347
172   Solomon Islands 1,303
173   Grenada 1,119
174   The Gambia 1,015
175   Saint Kitts and Nevis 946
176   Vanuatu 863
177   Samoa 857
178   Saint Vincent and the Grenadines 790
179   Comoros 649
180   Dominica 563
181   Tonga 426
182   Sao Tome and Principe 391
183   Federated States of Micronesia 336
184   Palau 292
185   Marshall Islands 199
186   Kiribati 196
187   Nauru 114
188   Tuvalu 40
Rank Country GDP
(US$million)
   World[25] 75,648,448
1   United States 18,624,475
2   China[n 4] 11,218,281
3   Japan 4,936,211
4   Germany 3,477,796
5   United Kingdom 2,647,898
6   France 2,465,453
7   India 2,259,642
8   Italy 1,858,913
9   Brazil 1,795,925
10   Canada 1,529,760
11   South Korea 1,411,245
12   Australia 1,304,463
13   Russia[n 2] 1,246,015
14   Spain 1,237,255
15   Mexico 1,076,914
16   Indonesia 932,259
17   Turkey 863,711
18   Netherlands 777,227
19    Switzerland 668,851
20   Saudi Arabia 639,617
21   Argentina 545,866
22   Sweden 514,475
23   Poland 471,402
24   Belgium 467,955
25   Iran 425,402
26   Thailand 407,026
27   Nigeria 404,649
28   Austria 390,799
29   Norway 371,068
30   United Arab Emirates 399,451
31   Colombia 377,740
32   South Africa 349,819
33   Denmark 346,119
34   Malaysia 326,933
35   Singapore 307,872
36   Israel 305,673
37   Venezuela 291,376
38   Philippines 290,896
39   Egypt 282,242
40   Hong Kong 274,027
41   Finland 272,217
42   Chile 258,062
43   Pakistan 251,255
44   Ireland 250,814
45   Greece 235,574
46   Portugal 230,117
47   Iraq 225,422
48   Kazakhstan 216,036
49   Algeria 213,518
50   Qatar 211,817
51   Czech Republic 205,270
52   Peru 201,809
53   Romania 199,045
54   New Zealand 198,652
55   Vietnam 186,205
56   Bangladesh 173,062
57   Kuwait 163,637
58   Angola 146,676
59   Hungary 138,347
60   Ukraine 131,806
61   Morocco 110,009
62   Puerto Rico 103,676
63   Ecuador 100,917
64   Slovakia 100,249
65   Cuba 89,689
66   Sudan 81,894
67   Oman 81,797
68   Belarus 76,139
69   Azerbaijan 75,193
70   Sri Lanka 74,941
71   Myanmar 66,478
72   Luxembourg 64,874
73   Dominican Republic 63,969
74   Uzbekistan 63,030
75   Kenya 60,936
76   Guatemala 58,827
77   Uruguay 57,471
78   Croatia 57,137
79   Bulgaria 56,718
80   Macau 55,502
81   Ethiopia 53,638
82   Lebanon 49,631
83   Costa Rica 49,553
84   Slovenia 49,491
85   Panama 49,166
86   Lithuania 48,392
87   Tanzania 48,030
88   Turkmenistan 47,932
89   Tunisia 47,423
90   Serbia 43,866
91   Libya 41,319
92   Ghana 37,177
93   Yemen 37,131
94   Democratic Republic of the Congo 35,909
95   Jordan 35,827
96   Côte d'Ivoire 34,254
97   Bahrain 33,850
98   Bolivia 32,996
99   Cameroon 32,051
100   Latvia 31,286
101   Paraguay 30,985
102   Trinidad and Tobago 28,069
103   Uganda 27,465
104   Zambia 26,963
105   Estonia 26,485
106   El Salvador 25,164
107   Cyprus 23,077
108   Afghanistan 21,122
109   Honduras 19,497
110     Nepal 19,489
111   Bosnia and Herzegovina 18,491
112   Gabon 17,412
113   North Korea 17,396
114   Brunei 17,104
115   Mozambique 17,081
116   Iceland 17,036
117   Cambodia 16,778
118   Equatorial Guinea 16,731
119   Papua New Guinea 16,576
120   Georgia 16,530
121   Botswana 15,813
122   Senegal 15,658
123   Zimbabwe 14,719
124   Congo, Republic of the 14,077
125   Jamaica 13,927
126   Namibia 13,429
127   Albania 13,413
128   Chad 12,791
129   State of Palestine 12,766
130   Burkina Faso 12,756
131   Mauritius 12,616
132   Mongolia 12,067
133   Mali 11,979
134   Nicaragua 11,806
135   Laos 11,749
136   Macedonia 11,319
137   South Sudan 11,007
138   Armenia 10,889
139   Madagascar 10,674
140   Malta 10,536
141   New Caledonia 10,234
142   Benin 9,575
143   Tajikistan 9,242
144   Haiti 8,599
145   The Bahamas 8,510
146   Niger 8,169
147   Moldova 7,944
148   Rwanda 7,903
149   Kyrgyzstan 7,404
150   Kosovo 7,387
151   Monaco 7,060
152   Guinea 6,579
153   Liechtenstein 5,855
154   Malawi 5,720
155   French Polynesia 5,623
156   Bermuda 5,601
157   Suriname 5,210
158   Mauritania 5,092
159   Timor-Leste 4,970
160   Sierra Leone 4,893
161   Montenegro 4,588
162   Togo 4,576
163   Fiji 4,532
164   Swaziland 4,482
165   Barbados 4,353
166   Eritrea 3,858
167   Cayman Islands 3,480
168   Andorra 3,278
169   Curaçao 3,159
170   Guyana 3,086
171   Maldives 3,032
172   Burundi 2,869
173   Aruba 2,664
174   Greenland 2,441
175   Liberia 2,122
176   Lesotho 2,081
177   Bhutan 1,965
178   Cape Verde 1,855
179   San Marino 1,845
180   Central African Republic 1,838
181   Belize 1,699
182   Djibouti 1,589
183   Seychelles 1,511
184   Saint Lucia 1,406
185   Somalia 1,375
186   Zanzibar 1,289
187   Antigua and Barbuda 1,248
188   Guinea-Bissau 1,209
189   Solomon Islands 1,103
190   Sint Maarten 1,059
191   British Virgin Islands 902
192   Grenada 884
193   Saint Kitts and Nevis 852
194   The Gambia 851
195   Samoa 824
196   Vanuatu 812
197   Turks and Caicos Islands 797
198   Saint Vincent and the Grenadines 729
199   Comoros 648
200   Dominica 533
201   Tonga 435
202   São Tomé and Príncipe 337
203   Federated States of Micronesia 308
204   Cook Islands 311
205   Anguilla 311
206   Palau 234
207   Marshall Islands 209
208   Nauru 182
209   Kiribati 180
210   Montserrat 63
211   Tuvalu 38

See also

Notes

  1. ^ Figures exclude Taiwan, and special administrative regions of Hong Kong and Macau.
  2. ^ a b c Figures exclude Republic of Crimea and Sevastopol.
  3. ^ Data for Syria's 2014 GDP is from the September 2011 WEO Database, the latest available from the IMF.
  4. ^ a b Figures exclude special administrative regions of Hong Kong and Macau.
  5. ^ Includes Western Sahara.
  6. ^ Covers mainland Tanzania only.
  7. ^ Data are for the area controlled by the Government of the Republic of Cyprus.
  8. ^ Excludes Abkhazia and South Ossetia.
  9. ^ Excludes data for Transnistria.

References

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  3. ^ Moffatt, Mike. "A Beginner's Guide to Purchasing Power Parity Theory". About.com. IAC/InterActiveCorp. Retrieved 31 May 2014.
  4. ^ Ito, Takatoshi; Isard, Peter; Symansky, Steven (January 1999). "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia" (PDF). Changes in Exchange Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues. National Bureau of Economic Research. Retrieved 23 May 2016.
  5. ^ Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development. International Monetary Fund. Retrieved 30 May 2014.
  6. ^ Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy's All". Finance & Development. International Monetary Fund. Retrieved 31 May 2014.
  7. ^ Vo, Lam Thuy (30 May 2012). "The World's Richest Countries and Biggest Economies, In 2 Graphics". Planet Money. National Public Radio. Retrieved 4 June 2014.
  8. ^ Burgen, Emily et. al. (5 April 2012). "An Elusive Relation Between Unemployment and GDP Growth: Okun's Law". Economic Trends. Federal Reserve Bank of Cleveland. Retrieved 3 June 2016.
  9. ^ Vitez, Osmond. "The Importance of Consumer Spending". Houston Chronicle. Hearst Corporation. Retrieved 4 June 2014.
  10. ^ Koesterich, Russ (16 May 2014). "America The Youthful? Yes, On a Relative Basis". BlackRock. Retrieved 4 June 2014.
  11. ^ Landefeld, J. Steven (11 February 2008). "The Multi-Factor Productivity Residual" (PDF). Measuring Innovation’s Role in GDP & Productivity Growth. Bureau of Economic Analysis. Retrieved 4 June 2014.
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