World Economy Ranking 2024: Top 10 World Economy In World List

World Economy Ranking 2024:

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The global economy is quiet dynamic, with countries having changes in their Gross Domestic Product (GDP) due to many economic cycles and long-term growth trends. Despite these changes, the top positions in the World Economy Ranking 2024, determined by GDP, remains relatively stable. But, there have been notable shifts in rankings over the past two decades.

Here is the list of the top 10 largest economies in the world in 2024 based on GDP:

  1. United States: Maintains its position as the largest economy with a nominal GDP of $23.3 trillion. Its diverse economy, driven by multinational firms and strong infrastructure, contributes to its strength, even during the COVID-19 pandemic.
  2. China: Ranks as the second-largest economy with a nominal GDP of $14.14 trillion and a PPP of $27.31 trillion. China’s economic growth rate continues to be robust.
  3. Japan: Holds the third-largest economy position with a GDP of $5.15 trillion and a PPP of $5.75 trillion.
  4. Germany: Ranks fourth with a GDP of $4.0 trillion and a per capita income of $46,560.
  5. India: Expected to become the world’s fifth-largest economy with a GDP projected to reach $3.5 trillion in 2022. India’s economy is anticipated to grow by 6.1% in the fiscal year 2024–2025.
  6. United Kingdom: With a GDP of $2.83 trillion, the UK is the sixth-largest economy globally.
  7. France: Ranks seventh with a nominal GDP of $2.71 trillion and a per capita GDP of $42,877.56.
  8. Italy: Holds the eighth position with a nominal GDP of $1.99 trillion and a per capita GDP of $34,260.34.
  9. Brazil: The largest economy in Latin America, with a GDP of $1.85 trillion, ranking tenth globally.
  10. Canada: With a GDP of $1.73 trillion, Canada ranks as the 10th largest economy. It is projected to reach a GDP of $2.13 trillion by 2024.

It’s important to note that the rankings may change slightly depending on the source and the specific methodology used to calculate GDP. Additionally, the strength of a nation’s economy is affected by factors beyond GDP, including income distribution, economic activity, and international trade relationships.

The United States of America will be able to maintain its position as the largest economy in the world in 2024, with a GDP exceeding $23 trillion. But, other countries such as China, India, and Brazil are experiencing rapid economic growth and may see changes in their rankings over time.

Understanding the World Economy Ranking 2024 can provide insights into global economic trends and opportunities for international cooperation and trade.

Based on the World Economy Ranking 2024 and the latest GDP data, here are some important points:

  1. Total Global GDP: The total GDP of all countries combined together to $105 trillion according to the latest data.
  2. United States: The US holds the top position globally in terms of nominal GDP. Its economy is diverse, with huge contributions from sectors such as finance, healthcare, technology, and manufacturing.
  3. China: China has the second-largest GDP in the world and is growing at a faster rate than the US. Its rapid economic growth has made it a major player in the global economy.
  4. Top Contributors to the World Economy: India, the United Kingdom, France, Germany, and Japan are among the top five contributors to the world economy. These countries play important roles in shaping global economic trends.
  5. Global GDP Growth: From 2020 to 2026, the global GDP increased from $103.86 trillion in 2022 to $112.6 trillion in 2023, showing overall economic growth on a global scale.
  6. India’s GDP Growth: As per UN, India’s GDP is expected to expand by 5.8% in the current year, which is significantly higher than the average global growth rate of 1.9%. This highlights India’s strong economic performance and potential for further growth.
  7. Key Economic Sectors: Many sectors such as finance, healthcare, technology, and manufacturing play important roles in contributing to the GDP of countries like the United States. Diversification in these sectors helps bolster economic stability and growth.

World Economy Ranking List 2024

Title World Economy Ranking List 2024
Institution International Monetary Fund
Made byIMF
World Economy Ranking List 2024Check Below
Year2024
World Economy 2024$105 Trillion
Official website imf.org

World Economy Ranking 2024 List

Check the World Economy Ranking 2024 List in this section.

  • 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