The GDP calculates currencies by using a selection of goods that are traded internationally, and it is used to measure a country’s economic growth. Most countries in the world experience fluctuations in their GDPs due to various economic cycles and long-term economic growth. It is worth noting that the positions of the Top 10 Largest Economies in World 2024, determined by GDP, tend to remain relatively stable despite these fluctuations. However, there have been a few significant changes in the World Economy Ranking over the past 20 years. You can find the list of the World Economy Ranking for 2024 in this post, which will provide you with helpful information.
World Economy Ranking 2024
According to the World Economy Ranking 2024, the most recent compilation of countries with the highest GDP stands at $105 trillion. The United States holds the top spot globally in terms of nominal GDP, while China follows closely behind with the second-largest GDP, growing at a faster pace than the US. India, the United Kingdom, France, Germany, and Japan are the leading contributors to the global economy. Analyzing GDP data for all countries from 2020 to 2026 reveals that the global GDP increased from $103.86 trillion in 2022 to $112.6 trillion in 2024.
World Economy Ranking Expand Countries
These countries are projected to hold the highest rankings in terms of GDP by 2024. The United Nations predicts that India’s GDP will expand by 5.8% this year, significantly surpassing the average worldwide growth rate of 1.9%. The finance, healthcare, technology, and manufacturing sectors all make substantial contributions to the United States’ GDP due to its highly diverse economy.
World Economy Ranking List 2024 Key Points
Title | World Economy Ranking List 2024 |
Institution | International Monetary Fund |
Made by | IMF |
World Economy Ranking List 2024 | Check Below |
Year | 2024 |
World Economy 2024 | $105 Trillion |
Type of Article | Finance |
Official website | imf.org |
World Economy Surpassing Rank
The global economy is a complex and interconnected system, with various countries contributing different types of income, economic activity, and roles. To assess the strength of a country’s economy, one can examine its Gross Domestic Product (GDP), which measures the total value of goods and services produced within its borders during a specific period. According to the most recent World GDP Ranking 2024 by the World Bank, the United States of America is projected to have the largest economy in the world in 2021, with a GDP surpassing $23 trillion.
World Economy Ranking 2024 List Latest Updated
Please refer to this section to view the World Economy Ranking 2024 List.
- America – US$ 25.035 trillion
- China – US$ 18.321 trillion
- Japan – US$ 4.301 trillion
- Germany – US$ 4.031 trillion
- India – US$ 3.469 trillion
- UK – US$ 3.199 trillion
- France – US$ 2.778 trillion
- Canada – US$ 2.2 trillion
- Russia – US$ 2.113 trillion
- Italy – US $ 1.99 trillion
Largest Economies in World 2024 Globally
In 2024, the United States of America boasts the largest economies globally, with a staggering value of $23.3 trillion. The US has managed to retain this position due to its diverse economy, which has been bolstered by multinational corporations such as Apple, Microsoft, and Amazon. The robustness of the US economy can be attributed to its well-established infrastructure, reliable banking system, and highly skilled workforce. Even in the face of the COVID-19 pandemic, the US economy has proven its resilience and adaptability, solidifying its status as the strongest in the world.
Top 10 Largest Economies in World 2024 Point By Point
2. What is the rank of India in economy 2024?
Country group | Developing/Emerging Lower-middle income economy Newly industrialized country |
Statistics | |
---|---|
Population | 1,417,173,173 (2nd; 2022 est.) |
GDP | $3.732 trillion (nominal; 2024 est.) $13.119 trillion (PPP; 2024 est.) |
GDP rank | 5th (nominal; 2024) 3rd (PPP; 2024) |
3. What is the top 5 economy in the world?
4. What is the world rank of India GDP?
5. Who is the No 1 GDP country?
6. In which field India is No 1 in world?
7. Which sector is growing fast in India?
The solar energy sector is one of the fastest-growing sectors in the Indian economy. India is the world’s fourth-largest solar energy producer. The wind energy sector is rapidly expanding in India, making our nation the fifth-largest wind energy producer in the world.
8. What rank is India in military?
A. In terms of military strength, India is ranked 4th out of 145 countries. Q. According to Global Firepower Index 2024 which country has the best military strength?
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