List of Countries by GDP (nominal)
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List of Countries by GDP Nominal

Largest economies by nominal GDP in 2017[1]

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year.[2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.[3] Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.[4]

Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP.[5] On the whole, PPP per capita figures are less spread than nominal GDP per capita figures.[6]

The United States is the world's largest economy with a GDP of approximately $19.39 trillion, notably due to high average incomes, a large population,[7] capital investment, moderate unemployment,[8] high consumer spending,[9] a relatively young population,[10] and technological innovation.[11]Tuvalu is the world's smallest national economy, with a GDP of about $32 million, because of its very small population, a lack of natural resources, reliance on foreign aid, negligible capital investment, demographic problems, and low average incomes.[12]

Although the rankings of national economies have changed considerably over time, the United States has maintained its top position since the Gilded Age, a time period in which its economy saw rapid expansion, surpassing the British Empire and Qing dynasty in aggregate output.[13][14] Since China's transition to a market-based economy through privatisation and deregulation,[15][16] the country has seen its ranking increase from ninth in 1978 to second to only the United States in 2016 as economic growth accelerated and its share of global nominal GDP surged from 2% in 1980 to 15% in 2016.[14][1] India has also experienced a similar economic boom since the implementation of economic liberalisation in the early 1990s.[17] When supranational entities are included, the European Union is the second largest economy in the world. It was the largest from 2004, when ten countries joined the union,[18] to 2014, after which it was surpassed by the United States.[19]

The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF definitive data for the past year and estimates for the current year are published twice a year in April and October. Several economies which are not considered to be countries (the world, the European Union, and some dependent territories) are included in the lists because they appear in the sources as distinct economies. These economies are italicized and not ranked in the charts, but are listed where applicable.

Lists

Per the International Monetary Fund (2017)[1] Per the World Bank (2017)[20] Per the United Nations (2016)[21][22]
Rank Country GDP
(US$MM)
   World[19] 79,865,481
1  United States 19,390,600
2  China[n 1] 12,014,610
3  Japan 4,872,135
4  Germany 3,684,816
5  United Kingdom 2,624,529
6  India 2,611,012
7  France 2,583,560
8  Brazil 2,054,969
9  Italy 1,937,894
10  Canada 1,652,412
11  South Korea 1,538,030
12  Russia[n 2] 1,527,469
13  Australia 1,379,548
14  Spain 1,313,951
15  Mexico 1,149,236
16  Indonesia 1,015,411
17  Turkey 849,480
18  Netherlands 825,745
19  Saudi Arabia 683,827
20   Switzerland 678,575
21  Argentina 637,717
22  Taiwan 579,302
23  Sweden 538,575
24  Poland 524,886
25  Belgium 494,733
26  Thailand 455,378
27  Iran 431,920
28  Austria 416,845
29  Norway 396,457
30  United Arab Emirates 377,435
31  Nigeria 376,284
32  Israel 350,609
33  South Africa 349,299
34  Hong Kong 341,659
35  Ireland 333,994
36  Denmark 324,484
37  Singapore 323,902
38  Malaysia 314,497
39  Philippines 313,419
40  Colombia 309,197
41  Pakistan 303,993
42  Chile 277,042
43  Bangladesh 261,374
44  Finland 253,244
45  Egypt 237,073
46  Vietnam 220,408
47  Portugal 218,064
48  Peru 215,224
49  Czech Republic 213,189
50  Romania 211,315
51  Venezuela 210,085
52  New Zealand 201,485
53  Greece 200,690
54  Iraq 197,699
55  Algeria 178,287
56  Qatar 166,326
57  Kazakhstan 160,839
58  Hungary 152,284
59  Angola 124,209
60  Kuwait 120,351
61  Morocco 109,824
62  Ukraine 109,321
63  Ecuador 102,311
64  Puerto Rico 98,805
65  Slovakia 95,938
66  Sri Lanka 87,591
67  Ethiopia 80,874
68  Kenya 79,511
--  Syria[n 3] 77,460/Na
69  Guatemala 75,661
70  Dominican Republic 75,018
71  Oman 74,274
72  Myanmar 66,537
73  Luxembourg 62,393
74  Uruguay 58,415
75  Panama 61,838
76  Costa Rica 58,056
77  Sudan 58,239
78  Bulgaria 56,943
79  Croatia 54,516
80  Belarus 54,436
81  Tanzania 51,725
82  Lebanon 51,457
83  Macau 49,802
84  Slovenia 48,868
85  Uzbekistan 47,883
86  Lithuania 47,263
87  Ghana 47,032
88  Serbia 41,471
89  Democratic Republic of the Congo 41,441
90  Azerbaijan 40,670
91  Jordan 40,487
92  Côte d'Ivoire 40,360
93  Tunisia 40,275
94  Turkmenistan 37,926
95  Bolivia 37,122
96  Bahrain 34,895
97  Cameroon 34,006
98  Libya 31,331
99  Latvia 30,319
100  Paraguay 29,619
101  El Salvador 28,023
102  Uganda 26,349
103  Estonia 25,973
104  Zambia 25,504
105    Nepal 24,472
106  Iceland 23,909
107  Papua New Guinea 23,617
108  Honduras 22,975
109  Cambodia 22,252
110  Cyprus 21,310
111  Afghanistan 20,889
112  Trinidad and Tobago 20,300
113  Bosnia and Herzegovina 17,457
114  Laos 17,152
115  Zimbabwe 17,105
116  Botswana 16,725
117  Yemen 16,511
118  Senegal 16,057
119  Georgia 15,230
120  Mali 14,998
121  Gabon 14,467
122  Jamaica 14,290
123  Nicaragua 13,692
124  Burkina Faso 13,187
125  Albania 13,001
126  Namibia 12,558
127  Mozambique 12,345
128  Mauritius 12,273
129  Malta 12,011
130  Brunei 11,963
131  Macedonia 11,416
132  Armenia 11,037
133  Mongolia 10,869
134  Madagascar 10,557
135  Equatorial Guinea 10,069
136  Chad 9,740
137  Benin 9,410
138  Guinea 9,183
139  Bahamas 9,127
140  Rwanda 8,918
141  Kosovo 8,883
142  Haiti 8,360
143  Moldova 7,945
144  Niger 7,892
145  Republic of Congo 7,799
146  Tajikistan 7,234
147  Kyrgyzstan 7,061
148  Malawi 6,261
149  Eritrea 6,050
150  Fiji 5,054
151  Mauritania 4,985
152  Barbados 4,821
153  Togo 4,797
154  Maldives 4,520
155  Montenegro 4,405
156  Swaziland 4,030
157  Sierra Leone 3,897
158  Suriname 3,665
159  Guyana 3,591
160  Burundi 3,393
161  South Sudan 2,870
162  Lesotho 2,721
163  Timor-Leste 2,716
164  Bhutan 2,321
165  Liberia 2,140
166  Djibouti 2,082
167  Central African Republic 1,992
168  Belize 1,819
169  Cape Verde 1,728
170  St. Lucia 1,717
171  San Marino 1,592
172  Antigua and Barbuda 1,535
173  Seychelles 1,479
174  Guinea-Bissau 1,295
175  Solomon Islands 1,273
176  Grenada 1,111
177  The Gambia 1,038
178  St. Kitts and Nevis 939
179  Samoa 844
180  Vanuatu 837
181  St. Vincent and the Grenadines 815
182  Comoros 659
183  Dominica 608
184  Tonga 437
185  São Tomé and Príncipe 372
186  Federated States of Micronesia 329
187  Palau 321
188  Marshall Islands 199
189  Kiribati 186
190  Tuvalu 40
Rank Country GDP
(US$MM)
   World 80,683,787
1  United States 19,390,604
--  European Union[23] 17,277,698
2  China[n 4] 12,237,700
3  Japan 4,872,137
4  Germany 3,677,439
5  United Kingdom 2,622,434
6  India 2,597,491
7  France 2,582,501
8  Brazil 2,055,506
9  Italy 1,934,798
10  Canada 1,653,043
11  Russia[n 2] 1,577,524
12  South Korea 1,530,751
13  Australia 1,323,421
14  Spain 1,311,320
15  Mexico 1,149,919
16  Indonesia 1,015,539
17  Turkey 851,102
18  Netherlands 826,200
19  Saudi Arabia 683,827
20   Switzerland 678,887
21  Argentina 637,590
22  Sweden 538,040
23  Poland 524,510
24  Belgium 492,681
25  Thailand 455,221
26  Iran 439,514
27  Austria 416,596
28  Norway 398,832
29  United Arab Emirates 382,575
30  Nigeria 375,771
31  Israel 350,851
32  South Africa 349,419
33  Hong Kong 341,449
34  Ireland 333,731
35  Denmark 324,872
36  Singapore 323,907
37  Malaysia 314,500
38  Philippines 313,595
39  Colombia 309,191
40  Pakistan 304,952
41  Chile 277,076
42  Finland 251,885
43  Bangladesh 249,724
44  Egypt 235,369
45  Vietnam 223,864
46  Portugal 217,571
47  Czech Republic 215,726
48  Romania 211,803
49  Peru 211,389
50  New Zealand 205,853
51  Greece 200,288
52  Iraq 197,716
53  Algeria 170,371
54  Qatar 167,605
55  Kazakhstan 159,407
56  Hungary 139,135
57  Angola 124,209
58  Kuwait 120,126
59  Sudan 117,488
60  Ukraine 112,154
61  Morocco[n 5] 109,139
62  Ecuador 103,057
63  Slovak Republic 95,769
64  Sri Lanka 87,175
65  Ethiopia 80,561
66  Dominican Republic 75,932
67  Guatemala 75,620
68  Kenya 74,938
69  Oman 72,643
70  Myanmar 69,322
71  Luxembourg 62,404
72  Panama 61,838
73  Costa Rica 57,057
74  Bulgaria 56,832
75  Uruguay 56,157
76  Croatia 54,849
77  Belarus 54,442
78  Tanzania[n 6] 52,090
79  Lebanon 51,844
80  Libya 50,984
81  Macau 50,361
82  Slovenia 48,770
83  Uzbekistan 48,718
84  Ghana 47,330
85  Lithuania 47,168
86  Turkmenistan 42,355
87  Serbia 41,432
88  Azerbaijan 40,748
89  Cote d'Ivoire 40,389
90  Tunisia 40,257
91  Jordan 40,068
92  Bolivia 37,509
93  Democratic Republic of the Congo 37,241
94  Bahrain 35,307
95  Cameroon 34,799
96  Latvia 30,264
97  Paraguay 29,735
98  Estonia 25,921
99  Uganda 25,891
100  Zambia 25,809
101  El Salvador 24,805
102    Nepal 24,472
103  Iceland 23,909
104  Honduras 22,979
105  Cambodia 22,158
106  Trinidad and Tobago 22,105
107  Cyprus[n 7] 21,652
108  Papua New Guinea 21,089
109  Afghanistan 20,815
110  Bosnia and Herzegovina 18,169
111  Zimbabwe 17,846
112  Botswana 17,407
113  Laos 16,853
114  Senegal 16,375
115  Mali 15,288
116  Georgia[n 8] 15,159
117  Jamaica 14,768
118  Gabon 14,623
119  West Bank and Gaza 14,498
120  Nicaragua 13,814
121  Mauritius 13,338
122  Namibia 13,245
123  Albania 13,039
124  Burkina Faso 12,873
125  Malta 12,538
126  Equatorial Guinea 12,487
127  Mozambique 12,334
128  The Bahamas 12,162
129  Brunei Darussalam 12,128
130  Armenia 11,537
131  Madagascar 11,500
132  Mongolia 11,488
133  Macedonia 11,338
134  Guinea 10,491
135  Chad 9,981
136  Benin 9,274
137  Rwanda 9,137
138  Republic of the Congo 8,723
139  Haiti 8,408
140  Moldova[n 9] 8,128
141  Niger 8,120
142  Kyrgyzstan 7,565
143  Somalia 7,369
144  Tajikistan 7,146
145  Kosovo 7,129
146  Malawi 6,303
147  Fiji 5,061
148  Mauritania 5,025
149  Togo 4,813
150  Barbados 4,797
151  Montenegro 4,774
152  Maldives 4,597
153  Swaziland 4,409
154  Sierra Leone 3,774
155  Guyana 3,676
156  Burundi 3,478
157  Suriname 3,324
158  Andorra 3,013
159  Timor-Leste 2,955
160  Lesotho 2,639
161  Bhutan 2,512
162  Liberia 2,158
163  Central African Republic 1,949
164  Djibouti 1,845
165  Belize 1,838
166  Cabo Verde 1,754
167  Saint Lucia 1,712
168  San Marino 1,659
169  Antigua and Barbuda 1,532
170  Seychelles 1,486
171  Guinea-Bissau 1,347
172  Solomon Islands 1,303
173  Grenada 1,119
174  The Gambia 1,015
175  Saint Kitts and Nevis 946
176  Vanuatu 863
177  Samoa 857
178  Saint Vincent and the Grenadines 790
179  Comoros 649
180  Dominica 563
181  Tonga 426
182  Sao Tome and Principe 391
183  Federated States of Micronesia 336
184  Palau 292
185  Marshall Islands 199
186  Kiribati 196
187  Nauru 114
188  Tuvalu 40
Rank Country GDP
(US$MM)
   World[24] 75,648,448
1  United States 18,624,475
2  China[n 4] 11,218,281
3  Japan 4,936,211
4  Germany 3,477,796
5  United Kingdom 2,647,898
6  France 2,465,453
7  India 2,259,642
8  Italy 1,858,913
9  Brazil 1,795,925
10  Canada 1,529,760
11  South Korea 1,411,245
12  Australia 1,304,463
13  Russia[n 2] 1,246,015
14  Spain 1,237,255
15  Mexico 1,076,914
16  Indonesia 932,259
17  Turkey 863,711
18  Netherlands 777,227
19   Switzerland 668,851
20  Saudi Arabia 639,617
21  Argentina 545,866
22  Sweden 514,475
23  Poland 471,402
24  Belgium 467,955
25  Iran 425,402
26  Thailand 407,026
27  Nigeria 404,649
28  Austria 390,799
29  Norway 371,068
30  United Arab Emirates 399,451
31  Colombia 377,740
32  South Africa 349,819
33  Denmark 346,119
34  Malaysia 326,933
35  Singapore 307,872
36  Israel 305,673
37  Venezuela 291,376
38  Philippines 290,896
39  Egypt 282,242
40  Hong Kong 274,027
41  Finland 272,217
42  Chile 258,062
43  Pakistan 251,255
44  Ireland 250,814
45  Greece 235,574
46  Portugal 230,117
47  Iraq 225,422
48  Kazakhstan 216,036
49  Algeria 213,518
50  Qatar 211,817
51  Czech Republic 205,270
52  Peru 201,809
53  Romania 199,045
54  New Zealand 198,652
55  Vietnam 186,205
56  Bangladesh 173,062
57  Kuwait 163,637
58  Angola 146,676
59  Hungary 138,347
60  Ukraine 131,806
61  Morocco 110,009
62  Puerto Rico 103,676
63  Ecuador 100,917
64  Slovakia 100,249
65  Cuba 89,689
66  Sudan 81,894
67  Oman 81,797
68  Belarus 76,139
69  Azerbaijan 75,193
70  Sri Lanka 74,941
71  Myanmar 66,478
72  Luxembourg 64,874
73  Dominican Republic 63,969
74  Uzbekistan 63,030
75  Kenya 60,936
76  Guatemala 58,827
77  Uruguay 57,471
78  Croatia 57,137
79  Bulgaria 56,718
80  Macau 55,502
81  Ethiopia 53,638
82  Lebanon 49,631
83  Costa Rica 49,553
84  Slovenia 49,491
85  Panama 49,166
86  Lithuania 48,392
87  Tanzania 48,030
88  Turkmenistan 47,932
89  Tunisia 47,423
90  Serbia 43,866
91  Libya 41,319
92  Ghana 37,177
93  Yemen 37,131
94  Democratic Republic of the Congo 35,909
95  Jordan 35,827
96  Côte d'Ivoire 34,254
97  Bahrain 33,850
98  Bolivia 32,996
99  Cameroon 32,051
100  Latvia 31,286
101  Paraguay 30,985
102  Trinidad and Tobago 28,069
103  Uganda 27,465
104  Zambia 26,963
105  Estonia 26,485
106  El Salvador 25,164
107  Cyprus 23,077
108  Afghanistan 21,122
109  Honduras 19,497
110    Nepal 19,489
111  Bosnia and Herzegovina 18,491
112  Gabon 17,412
113  North Korea 17,396
114  Brunei 17,104
115  Mozambique 17,081
116  Iceland 17,036
117  Cambodia 16,778
118  Equatorial Guinea 16,731
119  Papua New Guinea 16,576
120  Georgia 16,530
121  Botswana 15,813
122  Senegal 15,658
123  Zimbabwe 14,719
124  Congo, Republic of the 14,077
125  Jamaica 13,927
126  Namibia 13,429
127  Albania 13,413
128  Chad 12,791
129  State of Palestine 12,766
130  Burkina Faso 12,756
131  Mauritius 12,616
132  Mongolia 12,067
133  Mali 11,979
134  Nicaragua 11,806
135  Laos 11,749
136  Macedonia 11,319
137  South Sudan 11,007
138  Armenia 10,889
139  Madagascar 10,674
140  Malta 10,536
141  New Caledonia 10,234
142  Benin 9,575
143  Tajikistan 9,242
144  Haiti 8,599
145  The Bahamas 8,510
146  Niger 8,169
147  Moldova 7,944
148  Rwanda 7,903
149  Kyrgyzstan 7,404
150  Kosovo 7,387
151  Monaco 7,060
152  Guinea 6,579
153  Liechtenstein 5,855
154  Malawi 5,720
155  French Polynesia 5,623
156  Bermuda 5,601
157  Suriname 5,210
158  Mauritania 5,092
159  Timor-Leste 4,970
160  Sierra Leone 4,893
161  Montenegro 4,588
162  Togo 4,576
163  Fiji 4,532
164  Swaziland 4,482
165  Barbados 4,353
166  Eritrea 3,858
167  Cayman Islands 3,480
168  Andorra 3,278
169  Curaçao 3,159
170  Guyana 3,086
171  Maldives 3,032
172  Burundi 2,869
173  Aruba 2,664
174  Greenland 2,441
175  Liberia 2,122
176  Lesotho 2,081
177  Bhutan 1,965
178  Cape Verde 1,855
179  San Marino 1,845
180  Central African Republic 1,838
181  Belize 1,699
182  Djibouti 1,589
183  Seychelles 1,511
184  Saint Lucia 1,406
185  Somalia 1,375
186  Zanzibar 1,289
187  Antigua and Barbuda 1,248
188  Guinea-Bissau 1,209
189  Solomon Islands 1,103
190  Sint Maarten 1,059
191  British Virgin Islands 902
192  Grenada 884
193  Saint Kitts and Nevis 852
194  The Gambia 851
195  Samoa 824
196  Vanuatu 812
197  Turks and Caicos Islands 797
198  Saint Vincent and the Grenadines 729
199  Comoros 648
200  Dominica 533
201  Tonga 435
202  São Tomé and Príncipe 337
203  Federated States of Micronesia 308
204  Cook Islands 311
205  Anguilla 311
206  Palau 234
207  Marshall Islands 209
208  Nauru 182
209  Kiribati 180
210  Montserrat 63
211  Tuvalu 38

See also

Notes

  1. ^ Figures exclude Taiwan, and special administrative regions of Hong Kong and Macau.
  2. ^ a b c Figures exclude Republic of Crimea and Sevastopol.
  3. ^ Data for Syria's 2014 GDP is from the September 2011 WEO Database, the latest available from the IMF.
  4. ^ a b Figures exclude special administrative regions of Hong Kong and Macau.
  5. ^ Includes Western Sahara.
  6. ^ Covers mainland Tanzania only.
  7. ^ Data are for the area controlled by the Government of the Republic of Cyprus.
  8. ^ Excludes Abkhazia and South Ossetia.
  9. ^ Excludes data for Transnistria.

References

  1. ^ a b c "World Economic Outlook Database". International Monetary Fund. 17 April 2018. 
  2. ^ "What is GDP and why is it so important?". Investopedia. IAC/InterActiveCorp. 26 February 2009. Retrieved 2016. 
  3. ^ Moffatt, Mike. "A Beginner's Guide to Purchasing Power Parity Theory". About.com. IAC/InterActiveCorp. Retrieved 2014. 
  4. ^ Ito, Takatoshi; Isard, Peter; Symansky, Steven (January 1999). "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia" (PDF). Changes in Exchange Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues. National Bureau of Economic Research. Retrieved 2016. 
  5. ^ Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development. International Monetary Fund. Retrieved 2014. 
  6. ^ Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy's All". Finance & Development. International Monetary Fund. Retrieved 2014. 
  7. ^ Vo, Lam Thuy (30 May 2012). "The World's Richest Countries and Biggest Economies, In 2 Graphics". Planet Money. National Public Radio. Retrieved 2014. 
  8. ^ Burgen, Emily et. al. (5 April 2012). "An Elusive Relation Between Unemployment and GDP Growth: Okun's Law". Economic Trends. Federal Reserve Bank of Cleveland. Retrieved 2016. 
  9. ^ Vitez, Osmond. "The Importance of Consumer Spending". Houston Chronicle. Hearst Corporation. Retrieved 2014. 
  10. ^ Koesterich, Russ (16 May 2014). "America The Youthful? Yes, On a Relative Basis". BlackRock. Retrieved 2014. 
  11. ^ Landefeld, J. Steven (11 February 2008). "The Multi-Factor Productivity Residual" (PDF). Measuring Innovation's Role in GDP & Productivity Growth. Bureau of Economic Analysis. Retrieved 2014. 
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  13. ^ Matthews, Chris (5 October 2014). "5 Most Powerful Economic Empires of All Time". Fortune. Time, Inc. Retrieved 2016. 
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