Based on GDP statistics, the countries with the biggest economies worldwide in 2024 are the United States of America, China, Japan, Germany, India, United Kingdom, France, Italy, Brazil and Canada. One important indicator of the size of a country's economy is its GDP. The traditional technique of estimating a nation's GDP is the expenditure method, in which the amount is calculated by adding up the costs of new investments, new consumer items, government spending, and the value of exports.
These Ten Economies are Among the Most Powerful Economies in the World, in which Infrastructure Develops at a Rate That is up to 5 Times Faster than that of other Countries.
Among These 10 Economies, Some are Developed and Some are Developing. Recently, India has Overtaken United and Secured Fifth Place.
The purpose of this article is to provide light on the ten biggest economies in the world in 2024, ranked by GDP.
The purpose of this article is to provide light on the ten biggest economies in the world in 2024, ranked by GDP.
NOTE - This Data Last Update On 7 Feb.2024.
Which five nations in the world have the highest GDPs? In 2024, the US, China, Japan, Germany, and India will be in their respective places.
Let's now examine the top ten richest/largest economies in the world in 2024, according to IMF statistics as of February 07, 2024:
RANK COUNTRY GDP (USD) Billion
1 - United State of America (USA). ( No 1 Economies )
2 - China ( No 2nd Economies )
4 - Japan ( No 4th Economies )
5 - INDIA ( No 5th Economies )
7 - France ( No 7th Economies )
8 - Italy ( No 8th Economies )
For the first time since 1945, two administrations in the 1980s were headed by non-Christian Democrats: a socialist and a republican; the Christian Democrats continued to lead the majority government, nonetheless. After joining the G7 in the 1970s, Italy's economy rebounded and it grew to become the most industrialized nation in the world. Nonetheless, Italy's national debt surged, surpassing 100% of its GDP.
Top 10 World Economies by GDP 2024.
Which five nations in the world have the highest GDPs? In 2024, the US, China, Japan, Germany, and India will be in their respective places.
Let's now examine the top ten richest/largest economies in the world in 2024, according to IMF statistics as of February 07, 2024:
RANK COUNTRY GDP (USD) Billion
1. U. S. A. 27974 $
2. CHINA 18566 $
3. GERMANY 4730 $
4. JAPAN 4291 $
5. INDIA 4112 $
6. UNITED KINGDOM 3592 $
7. FRANCE 3182 $
8. ITALY 2280 $
9. BRAZIL 2272 $
10. CANADA 2242 $
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* GDP - 27974 Billion Doller
* Yearly Growth Rate of GDP - 1.5% per Year.
* Per Capita GDP - 83.06K Doller
The United States continues to be the largest economy in the world and the richest nation, maintaining its dominant position from 1960 to 2023. Its economy, which is driven by significant industries including manufacturing, services, finance, and technology, has an impressive diversification. The US has a sizable consumer market, encourages creativity and entrepreneurship, has a strong infrastructure, and offers favorable business environment.
American corporations, such as Apple, Microsoft, Nvidia, Amazon, Google, Meta Platform, Berkshire Hathaway, Eli Lilly, Tesla, Broadcom, and others, are a major factor in the country's economy being the best in the world.
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* GDP - 18566 Billion Doller
* Yearly Growth Rate of GDP - 4.2% per Year
* Per Capita GDP - 13.16K Doller
China's economic growth has accelerated, as seen by its rise from the fourth position in 1960 to the second position in 2023. The three main pillars of the Chinese economy are manufacturing, exports, and investment. It is pleased to have a large staff, strong support from the government, modern infrastructure, and a rapidly growing consumer base.
Chinese government focuses most on inventing new infrastructure. Chinese fashion focuses most on inventing new infrastructure. The Chinese government promotes small scale industries so that per capita income can increase. Due to which a clear effect is visible in the growth of GDP. China's GDP is significantly influenced by Chinese businesses such as Oppo, Vivo, Fosun, Midea, SAIC, Haier, and so on. Through international imports and exports, these businesses bring in money for China.
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3 - Germany ( No 3rd Economies )
* GDP - 4730 Billion Doller
* Yearly Growth Rate of GDP - 0.9%
* Per Capita GDP - 56.04K Doller
The automotive, chemical, pharmaceutical, and precision engineering sectors of Germany's export-driven economy are globally recognized. It gains by having a highly trained workforce, robust R&D, and a strong dedication to innovation.
It benefits from having a skilled workforce, strong R&D programs, and a strong commitment to innovation promotion.
German businesses including Robert Bosch, Mercedes-Benz, Deutsche, DHL, Audi, BASF, and Daimler are significant contributors to the country's GDP.
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* GDP - 4291 Billion Doller
* Yearly Growth Rate of GDP - 1.0%
* Per Capita GDP - 34.55K Doller
Japan's economy is noteworthy due to its advanced technology, manufacturing capabilities, and service sector. Leading industries include the automotive, electrical, mechanical, and finance sectors. In addition, Japan is known for its remarkable exports of high-quality goods, innovative technical breakthroughs, and steadfast work ethic.
Technological innovation is highly valued in Japan, where it has propelled the country to global leadership. The Japanese government provides its enterprises with full assistance when they innovate new technologies. A significant portion of Japan's GDP is contributed by Japanese businesses such as Honda, Maruti Suzuki, Panasonic, Sony, Yamaha, Toyota, and Mitsubishi.
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* GDP - 4112 Billion Doller
* Yearly Growth Rate of GDP - 6.3%
* Per Capita GDP - 2.85K Doller
In terms of GDP, India is placed fifth in the world in 2024. India's economy, which is driven by important industries including manufacturing, services, information technology, and agriculture, is diverse and expanding quickly. The country makes use of its sizable domestic market, a young, tech-savvy labor population, and a growing middle class.
These are the most popular sectors in India, and the government of that country actively supports them with low-interest loans and subsidies. India's economy has surpassed the UK to become the fifth biggest in the world thanks to the government's efforts.
India's GDP has grown thanks to the efforts of Indian businesses including Bharti Airtel, Hindustan Unilever (HUL), ITC, Infosys, LIC India, HDFC Bank, ICICI Bank, Infosys, Reliance Industries, and TATA Consultancy Services (TCS). has had a significant impact.
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6 - United Kingdom ( No 6th Economies )
* GDP - 3592 Billion Doller
* Yearly Growth Rate of GDP - 0.6%
* Per Capita GDP - 52.43K Doller
The manufacturing, financial, creative, and service sectors make up the United Kingdom's economy. London serves as a global financial hub that attracts international capital. Globalization and the United Kingdom's trade arrangements also influence the country's economic growth.
Companies in the UK including Shell, BP, HSBC Holdings, SCO, Unilever, and others have had a significant impact on the country's economy. These corporations have expanded their operations around the globe, producing a substantial amount of money for the United Kingdom.
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* GDP - 3182 Billion Doller
* Yearly Growth Rate of GDP - 1.3%
* Per Capita GDP - 48.22K Doller
In 2023, the GDP of France is projected to be worth 2,920 billion US dollars. France's economy is characterized by diversification, with a focus on high-end goods, tourism, aerospace, and agriculture. France is known for its extensive investment in R&D, sophisticated infrastructure, and strong social welfare system.
Multinational French corporations, such as BNP Paribas, Dior, AXA, LVMH, Schneider Electric, ENGIE, Sanofi, VINCI, Crédit Agricole, etc., contribute significantly to France's GDP growth. These multinational corporations export imports all over the world, which undoubtedly affects France's GDP development.
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* GDP - 2280 Billion Doller
* Yearly Growth Rate of GDP - 0.7%
* Per Capita GDP - 38.93K Doller
Italy, the third-biggest economy in the EU, has a highly developed market. The country is renowned for its hardworking and fiercely competitive agriculture sector as well as its powerful and innovative business sector.
The Years of Lead, which the nation endured from the late 1960s to the early 1980s, were marked by massive social unrest, terrorist atrocities, and economic crises—especially following the 1973 oil crisis.
For the first time since 1945, two administrations in the 1980s were headed by non-Christian Democrats: a socialist and a republican; the Christian Democrats continued to lead the majority government, nonetheless. After joining the G7 in the 1970s, Italy's economy rebounded and it grew to become the most industrialized nation in the world. Nonetheless, Italy's national debt surged, surpassing 100% of its GDP.
Like India, Italy is an agricultural nation. For the benefit of its farmers, the Italian government encourages the development of contemporary agricultural equipment.
The leading corporations in Italy that generate GDP growth include Ferrari 1RACE, Enel 2ENEL.MI, Intesa Sanpaolo 3ISP.MI, UniCredit 4UCG.MI, ENI, Generali, and so forth.
9 - Brazil ( No 9th Economies )
The leading corporations in Italy that generate GDP growth include Ferrari 1RACE, Enel 2ENEL.MI, Intesa Sanpaolo 3ISP.MI, UniCredit 4UCG.MI, ENI, Generali, and so forth.
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* GDP - 2272 Billion Doller
* Yearly Growth Rate of GDP - 1.5%
* Per Capita GDP - 11.03K Doller
Brazil's economy is diverse, with industries including mining, manufacturing, services, and agriculture. Interestingly, it is a well-known worldwide center for exporting and producing agricultural products. Brazil's economy is shaped by a number of variables, such as the price of commodities, domestic demand, and the development of infrastructure.
According to the IBGE, commerce and services, or the tertiary sector, accounted for 75.8% of the nation's GDP in 2018. Trade accounted for 13% of GDP, while the service sector accounted for 60%. Since it consists of complementary activities to other sectors, it covers a wide range of activities, including commerce, lodging and catering, transportation, communications, financial services, real estate activities and services provided to businesses, public administration (urban cleaning, sanitation, etc.), and other services like education, social and health services, research and development, sports activities, etc. Thirty percent of the nation's GDP comes from micro and small firms. For instance, among the commercial sector's operations, they account for 53% of the GDP.
Some of the biggest corporations in Brazil include Vibra Energia, RaÃzen, Vale, Caixa Econômica Federal, Banco do Brasil, Banco do Brasil, Petrobras, JBS S.A., and Banco Itaú Unibanco.
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10 - Canada ( No 10th Economies )
* GDP - 2242 Billion Doller
* Yearly Growth Rate of GDP - 1.6%
* Per Capita GDP - 55.53K Doller
Oil, gas, minerals, and lumber are just a few of the rich natural resources that are vital to Canada's economy. In addition, the country has a strong industrial sector, a booming services sector, and a strong commitment to promoting innovation and technical breakthroughs.
The Quebec Act of 1774, passed by Britain, gave Quebec autonomy over its laws and religion. Many Quebecers, in spite of this compromise, have long yearned for independence. Quebec chose to remain in Canada in ballots conducted in 1980 and 1995. However, the argument is still ongoing and the second vote was extremely close.
Since the 1500s, Canada has supplied the globe with salmon, furs, and other natural resources. It is currently a global leader in energy technology, telecommunications, and agricultural production. Canada exports goods mostly to the United States.
Since the 1500s, Canada has supplied the globe with salmon, furs, and other natural resources. It is currently a global leader in energy technology, telecommunications, and agricultural production. Canada exports goods mostly to the United States.
Enbridge, Royal Bank of Canada, Td Bank, Canadian Natural Resources Ltd., Suncor, BMO Bank of Montreal, CN, Cenovus Energy, George Weston, and other major corporations are among Canada's biggest businesses.
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