Top 10 economies in the world
How is the economy of a country calculated?
The size of a nation's overall economy is typically measured by its GDP (gross domestic product), which is the value of all final goods and services produced within a country in a given year.
GDP can be calculated by adding up all of the money spent by consumers, business, and government in a given period.
List of top 10 largest economies of the world by GDP.
1. United States:- GDP $21.428 trillion
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United States economy is highly developed and mixed. It is the world's largest economy by nominal GDP and net wealth. The U.S. has the most technologically powerful economy in the world and its firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment. Economy of the united states- GDP $21.428 trillion.
2. China:- GDP $14.140 trillion
Today, China is an upper-middle-income country and the world's second largest economy. The China economy has transitioned from a centrally-planned system to a more market-oriented economy since 1978, which as of 2019 ranked as the second largest in the world by nominal GDP and as of 2017 the largest in the world by purchasing power parity. Economy of china GDP $14.140 trillion. china economy growth rate averaging 6% over 30 years.
3. Japan:- GDP $5.154 trillion
The Japan economy is a highly developed free-market economy. Economy of japan is the third-largest in the world by nominal GDP and the fourth-largest by purchasing power parity. and is the world's second largest developed economy. Japan is a member of the G7. Japan bubble economy
The Japanese asset price bubble ( baburu keiki, "bubble economy") was an economic bubble in Japan from 1986 to 1991 in which real estate and stock market prices were greatly inflated. In early 1992, this price bubble burst and Japan's economy stagnated.
4. Germany:- GDP $3.863 trillion
The Germany economy is a highly developed social market economy. Economy of germany has the largest national economy in Europe, the fourth-largest by nominal GDP in the world, and fifth by GDP. In 2017, the country accounted for 28% of the euro area economy according to the IMF. Germany economy- GDP $3.863 trillion.
5. India:- GDP $3.202 trillion
The economy of India is characterised as a developing market economy. India economy is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity. According to the IMF, on a per capita income basis, India ranked 139th by GDP and 118th by GDP in 2018.
6. United Kingdom:- GDP $2.744 trillion
The economy of the United Kingdom is a highly developed social market and market-orientated economy. United kingdom economy is the sixth-largest national economy in the world measured by nominal gross domestic product, ninth-largest by purchasing power parity, and twenty second-largest by GDP per capita, comprising 3.3% of world GDP.
7. France:- GDP $2.707 trillion
The economy of France is highly developed and free-market-oriented. France economy is the world's 7th largest economy by 2019 nominal figures and the 10th largest economy by PPP figures. It is the 2nd largest economy in the European Union after Germany. France has a diversified economy.
8. Italy:- GDP $2.014 trillion
The economy of Italy is the 3rd-largest national economy in the European Union, the 8th-largest by nominal GDP in the world, and the 12th-largest by GDP. Italy has a major advanced economy and is a founding member of the European Union, the Eurozone, the OECD, the G7 and the G20. Italy economy - GDP $2.014 trillion
9. Brazil:- GDP $1.847 trillion
Brazil has a developing free-market economy that is the ninth largest in the world by nominal Gross Domestic Product and eighth largest by purchasing power parity in 2019. According to International Monetary Fund, Brazils economy 2019 nominal GDP was R$6.826 trillion or US$1.868 trillion.
which type of economy exists in brazil?
Brazil has a developing free-market economy.
10. Canada:- GDP $1.741 trillion
The economy of Canada is a highly developed market economy. Canada economy is the 10th largest GDP by nominal and 16th largest GDP by PPP in the world. As with other developed nations, the country's economy is dominated by the service industry which employs about three quarters of Canadians.
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