Top 10 Largest Economies In The World 2021

Last modified date

10 largest economies in the world 2021 Germany

The United States is the world’s largest economy with a GDP of approximately $22.68 trillion. GDP is used to estimate the size of a country’s economy. GDP is generally measured using the spending method. The country’s economy fluctuates. With the help of this article, you will be able to know the top 10 largest economies in the world 2021 and countries by gdp.


10. Economy of South Korea – $1.71 trillion

countries by gdp South Korea

The economy of South Korea is a highly developed mixed economy. It is dominated by a family owned group known as Chabol. Also, it is tenth economy in the world by nominal GDP and the 14th largest by purchasing power parity PPP.

South Korea is a member of the OECD and the G-20. Additionally, It’s included in the group of Next XI countries with the potential to play a major role in the global economy by the middle of the 21st century.

Moreover, South Korea was the eighth largest exporter and eighth largest importer in the world. The Bank of Korea and the Korea Development Institute periodically release key economic indicators and economic trends of South Korea’s economy.

  • GDP (nominal) – $1.71 trillion (2021)
  • GDP per capita – $34,865
  • Growth – 3.2%
  • GDP (PPP) – $2.2 trillion (14th)


09. Economy of Canada – $1.8 trillion

countries by gdp Canada

The Canadian economy is a highly developed mixed economy. Also, it ranks ninth among the top 10 economies in the world by nominal GDP and the 15th largest by PPP in the world. Like other developed nations, the country’s economy dominates the service industry which employs about three quarters of Canada’s people. 

Canada has the third largest petroleum reserves in the world and is the fourth largest exporter of petroleum. It is also the fourth largest exporter of natural gas. Canada is considered an energy superpower due to its abundant natural resources and a small population of 37 million inhabitants relative to its land area.

In addition, the Toronto Stock Exchange is the eighth largest stock exchange in the world by market capitalisation. It lists more than 1,500 companies, with a market capitalisation of over US$3 trillion.

  • GDP (nominal) – $1.8 trillion (2021)
  • GDP per capita – $49,222
  • Growth – 5.2%
  • GDP (PPP) – $1.9 trillion (15th)

08. Economy of Italy – $2.1 trillion

countries by gdp Italy

Italy’s economy is the third largest national economy in the European Union. Also, it ranks eight among the top 10 economies in the world by nominal GDP and net wealth and the 12th largest by purchasing power parity PPP. 

Additionally, Italy is a founding member of the European Union, the Eurozone, the OECD, the G7 and the G20. It is the world’s tenth largest exporter with $632 billion exported in 2019. It has close trade relations with other European Union countries. With these he handles about 59% of his total business.

Moreover, Italy owns the world’s third-largest gold reserves, and is the third-largest net contributor to the budget of the European Union. Furthermore, the advanced country’s personal wealth is the largest in the world.

  • GDP (nominal) – $2.1 trillion (2021)
  • GDP per capita – $34,997
  • Growth – 5.2%
  • GDP (PPP) – $2.6 trillion (12th)


07. Economy of France – $2.9 trillion

countries by gdp France Ladefense

France’s economy is highly developed and free-market-oriented. It ranks seventh among the top 10 economies in the world 2021 by nominal GDP and the ninth largest by purchasing power parity PPP. Also, it is the third largest economy in Europe by May 2021, after the economies of Germany and the United Kingdom. 

Moreover, France has a diversified economy, which dominates the services sector.  While the industrial sector accounts for 19.5% of the GDP and the rest of the primary sector is 1.7%. According to the IMF, in 2020, France was the 20th country in the world with a per capita GDP of $ 39,257.

  • GDP (nominal) – $2.9 trillion (2021)
  • GDP per capita – $44,995
  • Growth – 6.0%
  • GDP (PPP) – $3.2 trillion (9th)

06. Economy of United Kingdom – $3.12 trillion

largest economies in the world 2021 UK
Image Credit: QuintusPetillius/Wikimedia

The United Kingdom economy is a highly developed social market and market-oriented economy. Also, it is the six largest economies in the world 2021 by nominal GDP and the ninth largest by purchasing power parity PPP. The Economy of the UK has the twenty first largest per capita GDP. It is making 3.3% of world GDP.

Moreover, the UK is one of the most global economies. This includes England, Scotland, Wales and Northern Ireland. In 2019, the UK was the world’s fifth largest exporter and fifth largest importer. In 2020, the UK’s trade with 27 EU member states accounted for 49% of the country’s exports and 52% of its imports.

  • GDP (nominal) – $3.12 trillion (2021)
  • GDP per capita – $46,344
  • Growth – 6.5%
  • GDP (PPP) – $3.17 trillion (9th)

Related Articles

Top 10 Largest Oil Reserves In The World

The 10 Richest Countries In The World 2021

Top 10 Biggest Companies In The World 2021


05. Economy of India – $3.15 trillion

largest economies in the world 2021 India

India’s economy is known as a middle income developing market economy. Also, it ranks fifth among the top 10 economies in the world 2021 by nominal GDP and the third largest by purchasing power parity PPP. According to the International Monetary Fund (IMF), on a per capita income basis, India ranks 139nd from GDP (nominal) and 122th from GDP purchasing power parity PPP in 2021.

In addition, since the beginning of the 21st century, annual average GDP growth has increased from 6% to 7% from 2014 to 2018. India was the fastest growing major economy in the world, overtaking China. Historically, India was the largest economy in the world from the first century to the 19th century.

  • Countries by GDP – $3.15 trillion (2021)
  • GDP per capita – $2,265
  • Growth – 0.4%
  • GDP (PPP) – $10.9 trillion (3rd)

04. Economy of Germany – $4.3 trillion

10 largest economies in the world 2021 Germany

Germany’s economy is a highly developed social market economy. It has the largest national economy in Europe. Also, it is the fourth largest economies in the world 2021 by nominal GDP and the fifth largest by purchasing power parity PPP. 

Moreover, according to the International Monetary Fund (IMF) in 2017, the country accounted for 28% of the euro area economy. Germany is a founding member of the European Union and the Eurozone. Also, it is one of the largest exporters globally with goods and services worth $ 1810.93 billion exported in 2019.

  • Countries by GDP – $4.3 trillion (2021)
  • GDP per capita – $51,860
  • Growth – 4.2%
  • GDP (PPP) – $4.7 trillion (5th)


03. Economy of Japan – $5.38 trillion

10 largest economies in the world 2021 Japan

Japan’s economy is a highly developed free market economy. Also, it is the third largest economies in the world 2021 by nominal GDP and the fourth largest by purchasing power parity PPP. The Economy of Japan is the world’s second largest developed economy. 

Moreover, Japan is the world’s third largest automobile manufacturing country. It ranks first in the world in the Economic Complexity Index. And It is also the world’s third largest consumer market. Japan is a member of the G7 and G20. According to the International Monetary Fund, the country’s per capita gross domestic product (PPP) is $ 44,585.

  • Countries by GDP – $5.38 trillion (2021)
  • GDP per capita – $42,928
  • Growth – 2.3%
  • GDP (PPP) – $5.59 trillion (4th)

02. Economy of China – $16.64 trillion

largest economies in the world 2021 China

The economy of the People’s Republic of China is a market-oriented economy. Incorporates economic planning through industrial policies and strategic five-year plans. Also, it is the second largest economy in the world by nominal GDP and net wealth and the largest by purchasing power parity PPP. China has the world’s fifty six per capita gross domestic product nominal and the seventy per capita gross domestic product PPP in 2021.

In addition, an official forecast states that China will become the world’s largest economy by 2028 at nominal GDP. Historically, China was one of the world’s largest economic powers for 1 to two millennia until the 19th century.

  • Countries by GDP – $16.64 trillion (2021)
  • GDP per capita – $11,819
  • Growth – 8.4%
  • GDP purchasing power parity (PPP) – $26.66 trillion (1st)


01. Economy of the United States – $22.68 trillion

largest economies in the world 2021 USA

The United States economy is a highly developed mixed economy. It is the largest economy in the world by nominal GDP and net wealth and the second largest by purchasing power parity PPP. The US  has the world’s fifth-highest per capita gross domestic product (nominal) and the seventh highest per capita gross domestic product PPP in 2021. 

Moreover, the United States has the most technically powerful economy in the world and its companies are technically at the forefront or close. Advances, particularly artificial intelligence, computers, pharmaceuticals, and medical, aerospace, and military equipment. 

The US dollar is the most commonly used currency in international transactions and is the world’s largest reserve currency. The largest US trading partners are China, Canada, Mexico, India, Japan, Germany, South Korea, United Kingdom, France and Taiwan. Also, America is the world’s largest importer and the second largest exporter.

  • Countries by GDP – $22.68 trillion (2021)
  • GDP per capita – $68,309
  • Growth – 7.5%
  • GDP (PPP) – $22.68 trillion (2nd)

Share

10 Responses

  1. 1 2

Leave a Reply

Your email address will not be published. Required fields are marked *

Post comment