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The world’s top ten economies contribute significantly to global GDP and have a strong influence on international trade and economic policies. In this article, we will introduce the 10 largest economies in the world based on GDP.
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The largest economy in the world is the United States with a GDP of $26,854 billion. The United States has topped the list since the 20th century. However, in the coming years, China is expected to overtake the United States as the world’s largest economy.
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largest economy in the world [Updated 2024]
Here are the world’s largest economies according to the latest data released by the International Monetary Fund as of November 4, 2024.
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| rank | nation | GDP (USD) |
| 1 | United States (US) | $29.17 trillion |
| 2 | China | $18.27 trillion |
| 3 | Germany | $4.71 trillion |
| 4 | Japan | $4.07 trillion |
| 5 | India | $3.89 trillion |
| 6 | United Kingdom (UK) | $3.59 trillion |
| 7 | France | $3.17 trillion |
| 8 | Italy | $2.38 trillion |
| 9 | Canada | $2.21 trillion |
| 10 | Brazil | $2.19 trillion |
Source: International Monetary Fund
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Top 10 economies in the world (2024)
1. United States
The United States is the world’s largest economy. Its gross domestic product (GDP) currently stands at a staggering $29.17 trillion. The per capita income in the United States is $86,600.
2. China
China is the world’s second largest economy, with a GDP of US$18.27 trillion. China’s per capita income is US$12,970.
3. Germany
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Germany is the world’s third largest economy, with a GDP of $4.71 trillion. The per capita income is US$55,520.
4. Japan
Japan is the fourth largest economy in the world, with a GDP of US$4.07 trillion. Per capita income is US$32,860.
5. India
Recently, India surpassed the UK to become the fifth largest economy in the world. Its GDP is US$3.89 trillion and its per capita income is US$2,700.
6. United Kingdom
The UK is the sixth largest economy in the world, with a GDP of US$3.59 billion. The UK’s per capita income is $52,420.
7. France
The seventh largest economy in the world, with a GDP of US$3.17 trillion and a per capita income of US$48,010.
8. Italy
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The eighth largest economy in the world is Italy, with a GDP of $2.38 trillion. Its per capita income is US$40,290.
9. Canada
Although Canada is a small country with a small population, it is the ninth largest economy in the world. GDP is US$2.21 trillion, and per capita income is US$53,830.
10.Brazil
The world’s tenth largest economy is Brazil, with a GDP of $2.19 trillion. Brazil’s per capita income is $10,300.
The above 10 countries are all trillion-dollar economies. As of November 2024, there will be a global economy of $18 trillion.
How do the countries on this list rank?
According to information provided by the International Monetary Fund (IMF), the world’s ten largest economies are ranked by gross domestic product. These rankings are based on the total value of goods and services produced within each country’s borders in a given year.
GDP is a key indicator of a country’s economic strength and can greatly influence global markets and policies.
What is GDP? How is it calculated?
GDP, or Gross Domestic Product, is a measure of the total value of all goods and services produced within a country during a specific period, usually a fiscal year.
It is calculated by adding the values of consumption, investment, government spending and net exports (exports minus imports). This calculation provides an overall picture of a country’s economic activity and helps economists and policymakers analyze economic growth and development.
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