What are the largest economies in the world?

Each country's share of global GDP can be visualized as a piece of a pie

by Sead Dedovic
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What are the largest economies in the world?

The year 2023 brought a lot on the economic scene, as well as in other aspects. A global economy of more than 100 trillion dollars and 8 billion people are two of these things.
A graph produced by Visual Capital uses IMF data to show the world's largest economies and their share of global economic activity.

Economic activity within a country is measured by its gross domestic product (GDP). Data describes it as the total economic output - goods and services - produced by the private and public sectors in a given time period. Each country's share of global GDP can be visualized as a piece of a pie.

Global GDP is led by the United States, China, Japan, Germany and India, which together account for more than half of its value.

In terms of global GDP, here are the 10 countries with the highest share:

1. US BPD: $25K
2. China BPD: $18K 3.

Japan BPD: $4.3K 4. German BPD: $4.0K 5. India BPD: $3.6K 6. UK BPD: $3.1K 7. France BPD: $2.7K 8. Canada BPD: $2.2K 9. Russia BPD: $2.1K 10. Italy BPD: $1.9K As of 2022, only five countries account for more than half of the global GDP: the USA, China, Japan, India, and Germany.

There has been a surprising change in the top five countries this year with India replacing Great Britain. As the top 10 countries are added, the group of 10 now represents 66 percent of the global economy, and the top 25 countries represent 84 percent.

167 countries make up the rest of the world, which accounts for 16 percent of global GDP. Islands in Oceania have some of the smallest economies. Having a GDP of only 64 million dollars, Tuvalu is the country with the smallest GDP in the world.

There are only ten countries in the world with a GDP under one billion dollars. The year 2023 brought a major economic crisis and problems for citizens around the world. The war in Ukraine, and COVID have made huge changes on the big stage. However, the forecasts are that in the next few years things could get better.

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