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World Economy Ranking 2024: Top 10 Countries In World List

World Economy Ranking

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

Check the List of Top 10 Largest Economies in World 2024 in this section below.

  • United states: It is the largest economy in the world and has the second-highest value of natural resources with a nominal GDP of $21.44 trillion.
  • China: China is the second-largest economy in the world, with a nominal GDP of $14.14 trillion and a PPP of $27.31 trillion.
  • Japan: With a $5.15 trillion GDP and $5.75 trillion PPP, Japan has the third-largest economy in the world.
  • Germany: The fourth-largest economy is Germany, with a GDP of $4.0 trillion and a per capita income of $46,560.
  • India: India’s GDP is expected to reach $3.5 trillion in 2022, making it the world’s fifth-largest economy.
  • United Kingdom: With a $2.83 trillion GDP, the UK ranks sixth worldwide. By 2024, the UK’s economy may be the sixth largest.
  • France: France is the seventh-largest economy in the world, ranking third in Europe, with a per capita GDP of $42,877.56 and a nominal GDP of $2.71 trillion.
  • Italy: the tenth largest economy in Italy, with a nominal GDP of $1.99 trillion. Italy’s economy is worth $2.40 trillion and its GDP is $34,260.34 per person.
  • Brazil:  Brazil is the largest and most populated country in Latin America and has the tenth-highest GDP in the world ($1.85 trillion).
  • Canada: With a $1.73 trillion GDP and a $46,260.71 per capita income, Canada has the 10-th largest economy in the world. The Canadian GDP is anticipated to reach $2.13 trillion by 2024.

World Economy Ranking 2024 By International Monetary Fund states

The International Monetary Fund states that the three largest economies in the world by nominal GDP are the United States, China, and Japan, as per the World Economy Ranking 2024 IMF. In the fiscal year 2024–2025, India’s GDP is projected to increase by 6.1%, which is slower than global growth but still above average, according to the World GDP Ranking 2024 India. It is anticipated that India will contribute around 15% of global growth in 2024.

World Economy Ranking FAQ’S

1. Which country has the strongest economy in the world 2024?

Maintaining its position from 1960 to 2024, the United States of America is still the richest nation in the world, boasting a diversified economy, strong infrastructure, and welcoming business environment. China maintains its position in second place with a GDP to reach $19.4 trillion in 2024

2. What is the rank of India in economy 2024?

5th Economy of India
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?

The U.S., China, Japan, Germany, and India are some of the top economies in the world, based on gross domestic product (GDP). GDP is an estimate of the total value of finished goods and services produced within a country’s borders during a specified period, usually a year.

4. What is the world rank of India GDP?

fifth largest
GDP or “Gross Domestic Product” refers to the monetary value of all goods and services produced in a nation during a given year. A higher GDP indicates that the country is financially strong and growing at a stable rate. According to the World GDP Ranking 2024 list, India is the fifth largest economy in the world.

5. Who is the No 1 GDP country?

The United States is the largest economy in the world with a GDP of 26,854 billion dollars. China and Japan occupy the second and third spots respectively. Here are the ten biggest economies in the world as of 2024. The biggest economy in the world is the United States with a GDP of 26,854 billion dollars.

6. In which field India is No 1 in world?

India is the world’s largest producer of milk, pulses and jute, and ranks as the second largest producer of rice, wheat, sugarcane, groundnut, vegetables, fruit and cotton.

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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