The United States will enter the next decade with a soaring economy and the highest GDP in the world, representing over 20% of total global economic output. As per World Bank estimates, the nominal world GDP in 2017 was $80,683.79 billion. Despite facing challenges over the past few decades, such as the Iraq war, domestic terrorism and devastating natural disasters, the US still has the largest economy in the world. Japan. 5. Largest Economies in the World. France: $2.7 trillion. China: $14.3 trillion. Only 16 economies had a GDP higher than $1 trillion, with the US by far the biggest economy at more than $21 trillion – making up just under a quarter of the global total of almost $88 trillion. China. 1. This chart from Howmuch.net is based on World Bank data for Gross Domestic Product (GDP) for 2019. 2 In fact, the United States has been the biggest economy since the late 19 th century. The third table is a tabulation of the CIA World Factbook GDP (PPP) data update of 2017. Top 10 Economies in the World by GDP. Germany: $3.8 trillion. It has a nominal GDP of $21.48 trillion and a GDP per capita of more than $65,000. China Is Now the World’s Largest Economy. Its nominal GDP is forecast to exceed $21 trillion in 2019 alone, keeping it about $2 trillion ahead of China. U.S.: $21.4 trillion. Germany. Brazil: $1.84 trillion. 3. In 2018, the nominal world GDP was $84,835.46 billion in 2018, and it’s projected to be $88,081.13 billion in 2019. EU: $15.6 trillion. United States of America. The country offers a very high standard of living for its people, represented by the GDP per capita of $82,950.28, which is only behind Luxembourg. In 2018, the growth rate for the world GDP was 3.6%. 2. The size of the state’s economy is expected to reach $22.32 trillion by end of 2020. 4. This country is backed by technology, natural resources in abundance, and advanced infrastructure. China has now displaced the U.S. to become the largest economy in the world. We Shouldn’t Be Shocked. The world economy consists of 193 economies, with the United States being the largest. By 2030, India is expected to overtake the U.S. as the second-largest economy on the planet. U.K: $2.8 trillion. The United States is the world's largest economy with a GDP of approximately $20.513 trillion, notably due to high average incomes, a large population, capital investment, low unemployment, high consumer spending, a relatively young population, and technological innovation. Switzerland constitutes the twentieth-largest and one of the fastest-growing economies in the world with a nominal GDP of $703.75 billion as well as the world’s most stable market economy. India. India: $2.9 trillion. Since 1871, the U.S is the first largest economy of the world. Japan: $5.1 trillion. Italy: $2.0 trillion. Data are in millions of international dollars; they were compiled by the World Bank. The data for GDP at purchasing power parity has also been rebased using the new International Comparison Program price surveys and extrapolated to 2007.
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