15.1 C
Delhi

Exclusive: The Top 10 Largest Economies in the World

GDP measures the yearly market value of a country’s output of final goods and services and is hence a strong proxy for its economic health. The actual gross domestic product is useful for comparing economies and placing countries in order. The value of a country’s currency can have a significant impact on the final tally.

Here is the latest list of the top 10 economies in the world:

1. United States

download 27 2 Exclusive: The Top 10 Largest Economies in the World

According to estimates, the US GDP is $20.94 trillion. The US services industry is significantly more technologically advanced and well-developed. About 80% of the overall output is attributable to this feature. As a result, the largest organizations and firms that provide services in the industries of technology, retail, finance, and healthcare play a significant role in the international arena.

2. China

2 65 Exclusive: The Top 10 Largest Economies in the World

Over the past few decades, the Chinese economy has experienced astounding expansion. This fact has aided the nation in achieving the highly desired second place in the list of the top 10 economies in the globe. In 2020, China had a GDP of $14.72 trillion.

- Advertisement -TechnoSports-Ad

3. Japan

4 61 Exclusive: The Top 10 Largest Economies in the World

Japan’s economy, which is estimated at around $5.05 trillion in terms of real GDP, currently holds the third position. From the 1960s to the 1980s, Japan experienced rapid economic growth. However, since the 1990s, Japan’s economy has not been particularly robust.

4. Germany

5 25 Exclusive: The Top 10 Largest Economies in the World

Germany is fourth among the world’s top five economies with a GDP of $3.84 trillion. Germany’s economy recovered with a 4.0% expansion a decade ago after a temporary decline in 2009. The nation continued to perform well in the years that followed.

5. United Kingdom

3 67 Exclusive: The Top 10 Largest Economies in the World

Between 1999 and 2008, the UK’s GDP grew by 2.8% year on average. Due to a decrease in private spending and a slowdown in fixed investments brought on by the BREXIT uncertainty, growth is most likely to slow down. The UK will remain among the top 10 economies in the world, with a GDP of $2.76 trillion.

- Advertisement -TechnoSports-Ad

6. India

lead 1 194016 16x9 1 Exclusive: The Top 10 Largest Economies in the World

With a GDP of $2.66 trillion, India has surpassed France as the sixth-largest economy in the world. Additionally, among the major economies, the Indian economy is now expanding at the quickest rate in the globe.

7. France

7 7 Exclusive: The Top 10 Largest Economies in the World

The estimated GDP for France is $2.63 trillion. Currently, the service sector accounts for more than 70% of the country’s GDP. Additionally, France dominates the automotive, railroad, and aerospace industries on a global scale.

8. Italy

8 6 Exclusive: The Top 10 Largest Economies in the World

Italy, the third-largest economy in the European Union, has a very sophisticated market. The nation is renowned for its powerful and creative corporate economic sector as well as its hardworking and aggressive agricultural sector. Italy is the eighth-largest economy in the world according to estimates of its GDP, which is $1.88 trillion.

9. Canada

9 6 Exclusive: The Top 10 Largest Economies in the World

Canada is the ninth-largest economy on the planet, with a GDP estimated at $1.64 trillion. Canada continues to rank ninth among the biggest economies in the world, only one spot above South Korea.

10. South Korea

1 Exclusive: The Top 10 Largest Economies in the World

South Korea is the fourth-largest economy in Asia and has a highly developed mixed economy. After the Great Recession, the nation is still one of the developed nations with the fastest growth rates in the world. The South Korean economy, with a value of $1.63 trillion, is ranked tenth based on the GDP prediction.

FAQ

  1. Which country has the largest economy in the world?

    The US has the largest economy in the world

  2. How do economic crises or recessions affect the largest economies?

    Economic crises or recessions can have profound effects on the largest economies, leading to declines in GDP, increased unemployment, reduced consumer spending, and disruptions in financial markets. Governments and central banks often implement various measures to mitigate the impacts of economic downturns and support recovery efforts.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TechnoSports-Ad

Popular

TechnoSports-Ad

Related Stories

More from author

OLED iPad Pro Models: Anticipated Launch with Significant Price Increase Next Month

Apple is poised to introduce the iPad Pro featuring OLED screens next month, bringing a host of new features and enhancements. However, with these...

AMD’s Future in AI: MI400 AI GPU Anticipated for 2025, Refresh of MI300 in the Works

AMD is expected to introduce a version of its MI300 AI accelerator, which will include HBM3E memory, sometime this year. They also have plans...

Best Smart TVs to buy under 20000 INR in 2024

Are you, in search of a TV with all the bells and whistles without burning a hole in your pocket? You're in luck! Here...

Best Ways to Download Instagram Reels as of February 25

Best Ways to Download Instagram Reels in 2024: A Complete Guide Do you enjoy watching Instagram Reels? There are times when you find a reel...