GDP serves as a broad indicator for a country’s economic output. It measures the total market value of final goods and services produced in a country in a specific timeframe, such as a quarter or year. In addition, GDP also takes into consideration the output of services provided by the government, such as money spent on defense, healthcare, or education. Generally speaking, when GDP is increasing in a country, it is a sign of greater economic activity that benefits workers and businesses (while the reverse is true for a decline).
Here are the top 20 largest economies in the world.
Rank | Country | GDP |
1. | United States | $22.9 trillion |
2. | China | $16.9 trillion |
3. | Japan | $5.1 trillion |
4. | Germany | $4.2 trillion |
5. | United Kingdom | $3.1 trillion |
6. | India | $2.9 trillion |
7. | France | $2.9 trillion |
8. | Italy | $2.1 trillion |
9. | Canada | $2.0 trillion |
10. | South Korea | $1.8 trillion |
11. | Russia | $1.6 trillion |
12. | Brazil | $1.6 trillion |
13. | Australia | $1.6 trillion |
14. | Spain | $1.4 trillion |
15. | Mexico | $1.3 trillion |
16. | Indonesia | $1.2 trillion |
17. | Iran | $1.1 trillion |
18. | Netherlands | $1.0 trillion |
19. | Saudi Arabia | $0.8 trillion |
20. | Switzerland | $0.8 trillion |
| Turkey | $0.8 trillion |
| Taiwan | $0.8 trillion |
