Top 25 Economies in the World

The United States, China, Germany, Japan, and India are among the world's largest economies in terms of GDP. GDP is an estimate of the total worth of completed goods and services produced inside a country's borders over a given time period, often one year. GDP is widely used to evaluate the size of a country's economy and its impact on the world economy.

1. United States

Nominal GDP: $28.78 trillion
PPP GDP: $28.78 trillion
GDP Growth: 2.7%
Per Capita GDP: $85,370
The largest economy in the world is dominated by the service sector. Open economy with high levels of foreign direct investment. Faces economic inequality, rising healthcare costs, and infrastructure challenges.

2.China

Nominal GDP: $18.53 trillion
PPP GDP: $35.29 trillion
GDP Growth: 4.6%
Per Capita GDP: $13,140
China has the world's second-biggest nominal GDP in current dollars and the largest in terms of purchasing power parity. Its economy has grown at a record rate during the previous two decades, prompting some experts to predict that China would eventually replace the United States as the world's largest economy.

3. Germany

Nominal GDP: $4.59 trillion
PPP GDP: $5.69 trillion
GDP Growth: 0.2%
Per Capita GDP: $54,290
Europe’s largest economy. Strong in manufacturing and exports, faces demographic challenges and high immigration strain.

4.Japan

Nominal GDP: $4.11 trillion
PPP GDP: $6.72 trillion
GDP Growth: 0.9%
Per Capita GDP: $33,140
Advanced technological economy with major exports. Dependent on energy imports, faces aging population issues.

5. India

Nominal GDP: $3.94 trillion
PPP GDP: $14.59 trillion
GDP Growth: 6.8%
Per Capita GDP: $2,730
A mixed economy with strong service and agricultural sectors. Challenges include corruption, poverty, and regulatory issues. India's economy is the fifth largest in the world. Due to its vast population, India has the lowest per-capita GDP on the list.

India's economy combines traditional village farming and handicrafts with thriving contemporary industries and automated agriculture. India is a major supplier of technical services and corporate outsourcing, and the service industry accounts for a significant portion of its economic output.

6. United Kingdom

Nominal GDP: $3.5 trillion
PPP GDP: $4.03 trillion
GDP Growth: 0.5%
Per Capita GDP: $51,070
 Large service sector, impacted by Brexit. Ongoing trade negotiations with the EU.

The United Kingdom's economy is powered by a substantial service industry, particularly in finance, insurance, and business services. The country's extensive commercial ties with continental Europe has been greatly affected by the resolution of Brexit following the 2016 decision to leave the European Union (EU). The United Kingdom is no longer formally a member of the European Union as of January 31, 2020, although difficult negotiations over trade relations between the two continue.

7. France

Nominal GDP: $3.13 trillion
PPP GDP: $3.99 trillion
GDP Growth: 0.7%
Per Capita GDP: $47,360
A mixed economy with government involvement in key sectors. High public debt and unemployment are challenges.

8. Brazil

Nominal GDP: $2.33 trillion
PPP GDP: $4.27 trillion
GDP Growth: 2.2%
Per Capita GDP: $11,350
Diversified economy, major agricultural exporter. Recovering from recession and corruption scandals.

9. Italy

Nominal GDP: $2.33 trillion
PPP GDP: $3.35 trillion
GDP Growth: 0.7%
Per Capita GDP: $39,580
Regional economic disparity, high public debt, and inefficient systems hinder growth.

10. Canada

Nominal GDP: $2.24 trillion
PPP GDP: $2.47 trillion
GDP Growth: 1.2%
Per Capita GDP: $54,870

Canada is the world's tenth-largest economy. Canada has a well-developed energy extraction industry and the world's third-largest proven oil reserves. Canada also boasts excellent industrial and service industries, which are primarily concentrated in urban regions along the United States border.Strong energy sector, close trade ties with the US.

11. Russia

Nominal GDP: $2.06 trillion
PPP GDP: $5.47 trillion
GDP Growth: 3.2%
Per Capita GDP: $14,390
Key Points: Major oil and gas exporters, impacted by sanctions due to the Ukraine conflict.

Russia has shifted toward a more market-based economy in the 30 years following the demise of the Soviet Union, although government ownership and intervention in business remains ubiquitous. Russia's economy is very sensitive to global commodity price fluctuations, as it is a major exporter of oil and gas, as well as other minerals and metals.

12. Mexico

Nominal GDP: $2.02 trillion
PPP GDP: $3.43 trillion
GDP Growth: 2.4%
Per Capita GDP: $15,250
The manufacturing economy has a strong export sector. Challenges include violence and corruption from the drug trade.

13. Australia

Nominal GDP: $1.79 trillion
PPP GDP: $1.79 trillion
GDP Growth: 1.5%
Per Capita GDP: $66,590
 Export-driven economy with significant natural resources. Vulnerable to global commodity price fluctuations.

14. South Korea

Nominal GDP: $1.76 trillion
PPP GDP: $3.06 trillion
GDP Growth: 2.3%
Per Capita GDP: $34,160
Key Points: Advanced industrial economy with a strong export sector. Challenges include the aging population.

15. Spain

Nominal GDP: $1.65 trillion
PPP GDP: $2.52 trillion
GDP Growth: 1.9%
Per Capita GDP: $34,050
Recovered from the Great Recession, faces political instability.

16. Indonesia

Nominal GDP: $1.48 trillion
PPP GDP: $4.72 trillion
GDP Growth: 5%
Per Capita GDP: $5,270
Key Points: Largest economy in Southeast Asia, major commodity exporter. Faces infrastructure and corruption challenges.

17. Netherlands

Nominal GDP: $1.14 trillion
PPP GDP: $1.33 trillion
GDP Growth: 0.6%
Per Capita GDP: $63,750
Key Points: Major commercial hub, second-largest agricultural exporter.

The Netherlands is a significant commercial transportation center that also produces some industrial goods and extracts and processes petroleum. It has a highly developed agriculture sector and ranks as the world's second-largest agricultural exporter. The Netherlands has a large financial services sector that engages in asset pooling and is sponsored by the Dutch Ministry of Finance.

18. Turkey

Nominal GDP: $1.11 trillion
PPP GDP: $3.83 trillion
GDP Growth: 3.1%
Per Capita GDP: $12,760
Key Points: Large industrial and service sectors, political and financial instability.

19. Saudi Arabia

Nominal GDP: $1.11 trillion
PPP GDP: $2.35 trillion
GDP Growth: 2.6%
Per Capita GDP: $33,040
Key Points: World’s largest oil exporter, diversifying economy.

The Saudi economy is primarily reliant on oil, and it is the world's largest exporter. The Saudi government owns and operates the majority of the country's major industries through its oil company, Aramco; however, as global environmental concerns drive increased interest in developing non-fossil fuel energy sources, the Saudis are looking to diversify their economy by encouraging more private investment in healthcare and other service industries.

20. Switzerland

Nominal GDP: $938.46 billion
PPP GDP: $816.46 billion
GDP Growth: 1.3%
Per Capita GDP: $105,670
Key Points: Strong financial services and high-tech manufacturing sectors.

21. Poland

Nominal GDP: $844.62 billion
PPP GDP: $1.8 trillion
GDP Growth: 3.1%
Per Capita GDP: $23,010
Key Points: Heavy industry, business-friendly climate, aging population.

22. Taiwan

Nominal GDP: $802.96 billion
PPP GDP: $1.79 trillion
GDP Growth: 3.1%
Per Capita GDP: $34,430
Key Points: Technologically advanced, major chip manufacturer.

23. Belgium

Nominal GDP: $655.19 billion
PPP GDP: $803.17 billion
GDP Growth: 1.2%
Per Capita GDP: $55,540
Key Points: Diversified economy, trade, and transport hub.

24. Sweden

Nominal GDP: $623.05 billion
PPP GDP: $736.4 billion
GDP Growth: 0.2%
Per Capita GDP: $58,530
Key Points: High standard of living, export-driven manufacturing.

25. Argentina

Nominal GDP:  in Current U.S. Dollars: $604.26 billion
PPP Adjusted GDP:  in Current International Dollars: $1.24 trillion
GDP Growth: -2.8%
Nominal GDP: Per Capita in Current U.S. Dollars: $12,810

Argentina is the 25th-largest economy in the world. Argentina's primary contributor to GDP is the industrial sector, followed by services and then agriculture. Its industries include food processing, motor vehicles, consumer durables, textiles, chemicals, printing, metallurgy, and steel.