Please note that the world’s largest economies are ranked by nominal GDP, or GDP at current prices. In this article, we will cover the world’s largest economies by nominal GDP (GDP at current prices). This data is based on the World Economic Outlook report released by the International Monetary Fund (IMF). Argentina rounds out the top 25 global economies, according to the IMF’s October 2025 release. While more than half of Argentina’s GDP comes from the services sector, the country also has a strong base in agriculture, manufacturing, extraction, and construction.
Gross domestic product or gross national product?
- Many major U.S. manufacturers have integrated supply chains with counterparts or operations in Mexico.
- Some of their leading exports include aircraft (including helicopters and spacecraft), cars, and pharmaceutical products.
- As China has progressively opened its economy over the past four decades, economic development and living standards have greatly improved.
- Still, Italy’s economic situation varies considerably by region, with the north being, in general, more industrial and wealthier.
- However, the country used to rank higher, maintaining the second spot till 2009, before being dethroned by China.
Like France, tourism is a big factor in its GDP, as well as high net exports of consumer goods. Key sectors in the German economy include automobiles, chemicals and telecommunications, as well as service industries such as tourism and healthcare. Germany has the third-largest economy in the world and the largest economy in Europe.
- With the world’s largest population of approximately 1.43 billion, India has a huge domestic market, which provides a large consumer base for businesses.
- Canada’s fortunes as the ninth-largest economy in the world are thickly entwined with those of its southern neighbor, the United States.
- The UK has remained among the top 10 largest economies for over 40 years.
- Additionally, these nations play a major role in international trade, finance, and innovation.
- These countries consistently rank among the largest economies globally by nominal GDP.
- In this article, we will cover the world’s largest economies by nominal GDP (GDP at current prices).
Top 20 countries by GDP
These are projections by the IMF (International Monetary Fund) for the year 2025, as ranked by nominal GDP. With a GDP of 29.18 trillion dollars, the USA is by far the world’s largest economy in this ranking for 2024. It is followed by China in second place with a GDP of 18.74 trillion dollars. Canada is also quite far ahead in the international comparison and occupies the ninth place in this ranking. GDP is determined by summing up consumption (expenditure by consumers), government expenditure, investment (expenditure by businesses), and net exports (the difference between exports and imports). GDP is the total values of Goods and services produced in country within specific periods.
How Did We Measure Economies?
Further down the list, Indonesia vaulted forward from the 27th largest economy in 2000 to the 17th as of October 2025. Throughout most of the world, GDPs fluctuate with the phases of different economic cycles, against a backdrop of longer-term economic growth over time. However, despite these ups and downs, the top economies Green hydrogen stocks as measured by GDP don’t budge easily from the positions they hold. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator.
The US population of approximately 342 million people plays a key role in its economic growth and development. Additionally, the US is home to diverse industries, a flexible labor market, and lots of international companies, making it the world’s strongest economy. Japan ranks among the top largest economies by GDP due to its strong manufacturing base, particularly in electronics and automobiles. It is a global leader in industries like electronics, automotive, and robotics.
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Here’s a look at the top 10 countries with the highest GDP rankings, according to the International Monetary Fund. Mriganka Chakraborty is a content writer with 7 years of rich experience in creative, academic, and research-based writing. Mriganka’s expertise lies in crafting innovative, engaging and compelling articles that effectively communicate the desired message to the target audience. At Jagranjosh, he is involved in English content creation for the General Knowledge category.
Top 20 largest economies in the world in 2025: GDP rankings and key insights
The top 10 economies in the world are ranked on their nominal GDP or GDP current prices, as per the reports released by the IMF (International Monetary Fund). These rankings are based on the total value of goods and services produced within each country’s borders in a given year. The countries on this list have various populations, politics, trade agreements, and demographics, all of which play a factor in how their economies and, therefore, GDP perform.
Gross domestic product measures the total output of a nation and is used as a gauge of the health of an economy and its size. Countries consistently measure GDP growth as a way to determine how the economy is performing and what actions need to be taken to create steady growth. The Alpine nation of Switzerland is the 21st-largest economy in the world. Heavy industry, including iron and steel production, machinery manufacturing, shipbuilding, and coal mining, is an important part of Poland’s economy. With this progress, however, South Korea also now faces some of the same challenges that many other advanced economies are dealing with, including slower growth and an aging workforce.
The country has a diverse range of leading exports from minerals and fuels to textile and garments. While India’s major trades occur with many prominent partners like the US and China, the nation also remains a prominent trading partner of GCC countries, including the UAE and Saudi Arabia. Spain’s economy suffered severely during the Great Recession, with unemployment soaring above 25% and a rising national debt despite attempts at fiscal austerity. It is calculated by adding up the value of consumption, investment, government spending, and net exports (exports minus imports).
Brazil’s diversified economy runs the gamut from heavy industries, such as aircraft and automotive production, to mineral and energy resource extraction. It also has a large agricultural sector that makes it a major exporter of coffee and soybeans. India, as the world’s fifth-largest economy, is another country on the rise, but also one facing significant challenges, both social and environmental. While the Indian government has taken steps to encourage foreign investment and domestic development, much of the population still struggles with basic necessities. Although Canada has a significant economy and has remained in the top 10 for many years, the country has never made it to the top five ranks of highest GDPs, as per IMF data.
The main drivers of the Indian economy are the services, manufacturing, and agriculture sectors. India is growing at 6.8% annually and has been declared the fastest-growing economy in emerging markets by the International Monetary Fund (IMF). China entered the top five list for largest economies in 2005, and has since been climbing the ranks. Following 2010, the country has been reigning the number two spot, trailing behind the US.
Other honorable mentions include pharmaceutical products, electronic equipment, and automotive vehicle parts. Some of the top American partners in trading include Canada, Mexico, China, Japan, and the United Kingdom. Indonesia’s economy is the largest economy in Southeast Asia and is based largely on commodity export industries. Major exports include coal and petroleum products, in addition to agricultural commodities suitable for industrial use, such as rubber and palm oil.
