Largest economies in the world

In this article we can find a list with all the countries of the world ordered according to their nominal GDP . The first country on the list and therefore the country with the greatest economic power in the world is the United States. In second place would be the European Union if it were a country.

The GDP (Gross Domestic Product) is the economic indicator that measures the total output of goods and services a country, so it is often used to measure the wealth of a country.

Furthermore, it is one of the best indicators to see if a country is growing economically or is stagnant and destroying employment. If from one year to the next it produces more, it is having economic growth. This is measured by the rate of change in GDP .

The following is the 2016 ranking of countries by estimated GDP (according to the IMF ):

Country with Highest GDP

Pos.	Country	Nominal GDP (millions of USD)
	World	74,583,642
1	U.S	18,561,934
	European Union	16,739,022
2	China	11,391,619
3	Japan	4,730,300
4	Germany	3,494,898
5	UK	2,649,893
6	France	2,488,284
7	India	2,250,987
8	Italy	1,852,499
9	Brazil	1,769,601
10	Canada	1,532,343
11	South Korea	1,404,383
12	Russia	1,267,754
13	Australia	1,256,640
14	Spain	1,252,163
15	Mexico	1,063,606
16	Indonesia	940,953
17	Netherlands	769,930
18	Turkey	735,716
19	Switzerland	662,483
20	Saudi Arabia	637,785
21	Sweden	557,938
22	Poland	516,128
23	Norway	511,252
24	Belgium	506,560
25	Taiwan	489,213
26	Argentina	488,213
27	Austria	415,366
28	United Arab Emirates	396,235
29	Thailand	387,156
30	Colombia	381,822
31	Venezuela	373,978
32	Iran	366,259
33	South Africa	350,779
34	Denmark	330,958
35	Malaysia	312,433
36	Singapore	295,744
37	Israel	291,500
38	Nigeria	286,470
39	Chile	276,975
40	Hong Kong, China	273,658
41	Philippines	272,018
42	Egypt	271,427
43	Finland	256,922
44	Greece	241,796
45	Pakistan	238,737
46	Iraq	229,327
47	Kazakhstan	220,347
48	Portugal	219,972
49	Ireland	217,884
50	Peru	206,542
51	Algeria	206,095
52	Taste	202,561
53	Czech Republic	198,312
54	Romania	189,659
55	Kuwait	185,319
56	New Zealand	181,330
57	Ukraine	176,235
58	Vietnam	170,565
59	Bangladesh	141,275
60	Hungary	132,426
61	Angola	121,704
62	Morocco	105,101
63	Slovakia	95,805
64	Ecuador	94,144
65	Oman	80,571
66	Azerbaijan	73,537
67	Belarus	71,710
68	Sudan	70,127
69	Libya	67,622
70	Sri Lanka	65,833
71	Cuba	62,705
72	Dominican Republic	60,765
73	Luxembourg	59,838
74	Croatia	58,058
75	Uzbekistan	56,476
76	Myanmar	56,408
77	Uruguay	56,345
78	Guatemala	54,383
79	Bulgaria	53,046
80	Costa Rica	49,621
81	Ethiopia	48,145
82	Lithuania	47,560
83	Tunisia	47,439
84	Slovenia	46,851
85	Kenya	45,082
86	Lebanon	44,318
87	Ghana	44,223
88	Serbia	42,525
89	Turkmenistan	40,569
90	Panama	40,329
91	Yemen	39,152
92	Jordan	33,860
93	Tanzania	32,536
94	Bahrain	32,215
95	Latvia	30,953
96	Democratic Republic of Congo	30,639
97	Bolivia	29,802
98	Paraguay	28,333
99	Ivory Coast	28,288
100	Cameroon	27,957
101	Trinidad and Tobago	27,703
102	The Savior	24,512
103	Estonia	24,484
104	Uganda	23,053
105	Zambia	22,416
106	Cyprus	21,827
107	Afghanistan	20,735
108	Nepal	19,341
109	Gabon	19,228
110	Honduras	18,813
111	Bosnia and Herzegovina	17,828
112	Brunei	16,214
113	Georgia	16,162
114	Papua New Guinea	15,973
115	Cambodia	15,659
116	Equatorial Guinea	15,574
117	Mozambique	15,329
118	Senegal	15,154
119	Botswana	14,837
120	Iceland	14,656
121	Jamaica	14,288
122	Republic of Congo	13,781
123	South Sudan	13,734
124	Chad	13,411
125	Zimbabwe	12,951
126	Albania	12,850
127	Namibia	12,318
128	Burkina Faso	12,247
129	Mauricio	11,930
130	Mongolia	11,516
131	Nicaragua	11,272
132	Madagascar	11,210
133	Mali	11,070
134	Armenia	10,547
135	Macedonia	10,238
136	Laos	10,002
137	malt	9,545
138	Tajikistan	8,497
139	Haiti	8,458
140	Bahamas	8,367
141	Benin	8,310
142	Moldova	7,935
143	Rwanda	7,431
144	Niger	7,359
145	Kyrgyzstan	7,225
146	Kosovo	6,827
147	Monaco	6,581
148	Guinea	6,282
149	East Timor	6,147
150	Surinam	5,057
151	Sierra Leone	4,788
152	Montenegro	4,377
153	Togo	4,360
154	Barbados	4,284
155	Mauritania	4,187
156	Fiji	4,037
157	Palestine	4,016
158	Malawi	3,814
159	Andorra	3,712
160	Swaziland	3,620
161	Eritrea	3,444
162	Guyana	2,970
163	Burundi	2,723
164	Lesotho	2,276
165	Maldives	2,276
166	Bhutan	1,985
167	Liberia	1,933
168	Cape Verde	1,920
169	San Marino	1,802
170	Belize	1,604
171	Central African Republic	1,538
172	Djibouti	1,457
173	Seychelles	1,398
174	St. Lucia	1,317
175	Old and bearded	1,212
176	Solomon Islands	1,097
177	Gambia	850
178	Guinea-Bissau	845
179	Vanuatu	821
180	Pomegranate	814
181	Saint Kitts and Nevis	767
182	St. Vincent and the Grenadines	720
183	Samoa	705
184	Comoros	652
185	Dominica	498
186	Tonga	477
187	Micronesia	333
188	Sao Tome and Principe	308
189	Palau	246
190	Marshall Islands	175
191	Kiribati	172
192	Tuvalu	38
193	Syria	n / a

Richest country in the World

Although the fact that a country has money does not imply that it is managed correctly or directed to the well-being of its citizens, the economic capacity of a country is an important element in allowing the creation, maintenance and management of different goods.

The services and infrastructures that each country enjoys or could enjoy is created after an arduous process of research and development. Multiple investigations have been carried out in order to assess which countries have the highest quality of life, taking into account, among other aspects, economic capacity.

In relation to this last aspect, the 25 richest countries in the world will be presented below.

Wealth, what is it?

The term wealth refers to a concept that can be very broad. When we talk about the level of wealth of a person or country, we can be referring to a lot of things.

Its culture, language, spirituality, ability to bond with others, acceptance and tolerance, level of well-being and happiness… However, in everyday language when we talk about the level of wealth of a country we refer to the economic sphere, the abundance of money, assets and possessions.

At the time of comparing the level of wealth of different countries, groups or individuals at stake, in addition to the above, the choice of the scale to be used to make such a comparison. And it is that the level of economic wealth can be valued in aspects such as the total amount of capital available in each element being compared, taking into account their capacity, population and size when making such a comparison or comparing the standard of living of their populations.

Below we present first the list of the twenty-five richest countries in the world according to nominal GDP, and then a second list with GDP per capita.

Best Economy in the World

Regarding total amounts of wealth (that is, the amount of Gross Domestic Product or nominal GDP), regardless of how it is distributed, the size and population of the country and the level of well-being of the population, the International Monetary Fund reflects that during 2016 the 25 richest countries have been as follows (values ​​registered in USD or US dollars).

1. United States

   Considered the greatest power in the world, the United States has a GDP of $ 18,561,934 million.

   However, it is also true that this is a country of great inequalities. In inland areas, such as Detroit, poverty wreaks havoc.

2. China

   Also known as the sleeping tiger due to its enormous economic potential, China is in second position with a GDP of $ 11,391,619 million.

3. Japan

   The country of the rising sun is in third position in terms of wealth according to GDP, with approximately 4,730.3 billion dollars.

4. Germany

   One of the main economic engines of Europe, Germany has a GDP of 3,494,898 million dollars, which has earned it the fourth position in the ranking.

5. United Kingdom

   The United Kingdom is in fifth position with 2,649,893 million dollars. On the other hand, this situation may change with the exit from the European Union.

6. France

   The French country has a gross domestic product of 2,499,284 million dollars, being the sixth richest country in the world in this regard.

7. India

   One of the powers with the highest rate of economic growth, India’s GDP has reached $ 2,250,987 million during 2016, being the seventh richest power today. Elements that play against its economic growth are environmental crises and armed confrontations with Pakistan and with guerrillas.

8. Italy

   Despite the effects of the crisis, Italy is in eighth position in terms of level of wealth according to GDP, with around 1,852,499 million dollars. It must be taken into account that this country presents a pronounced inequality between the north and the south, being the first richest region.

9. Brazil

   This beautiful country is in ninth position in terms of wealth, with a GDP of 1,769,601 million dollars. But there are also areas totally isolated from public services that are considered minimal, and large pockets of poverty in both slums and favelas.

10. Canada

    A GDP of 1,532,343 million dollars is what has earned Canada the tenth position on this list. In addition, it has excellent public services.

11. South Korea

    Despite its complicated situation with respect to North Korea, South Korea was during 2016 the eleventh richest country in the world according to the International Monetary Fund, with 1,404,383 million dollars. As negative points we must point out the extreme competitiveness that exists in their business culture, which leads many people to suicide.

12. Russia

    Another of the great superpowers, Russia is in twelfth position with a GDP of 1,267,754 million dollars. However, wealth is concentrated in some large cities, especially Moscow.

13. Australia

    During 2016 Australia has placed in thirteenth position in terms of GDP, with 1,256,640 million dollars in its coffers.

14. Spain

    Despite the effects of the economic crisis and the political imbalance, our country is in fourteenth position at the GDP level, with around 1,252,163 million dollars.

15. Mexico

    The Mexican country is in fifteenth position with a GDP of 1,063,606 million dollars.

16. Indonesia

    Indonesia, with 940,953 million dollars in GDP, is in sixteenth position.

17. Netherlands

    The Netherlands has a GDP of $ 769.93 billion, making it the 17th richest country according to the International Monetary Fund.

18. Turkey

    With 735,716 million dollars, Turkey was the eighteenth richest country in 2016-

19. Switzerland

    Switzerland has a GDP of 662,483 million dollars, which amounts to number nineteen in terms of the amount of money in circulation.

20. Saudi Arabia

    Saudi Arabia records a GDP of 637,785 million dollars in 2016, which is the twentieth position in the ranking.

21. Argentina

    The twenty-first position in relation to the twenty-five richest countries is for Argentina, with a GDP of 541,748 million dollars.

22. Taiwan

    Taiwan is ranked twenty-second, with a GDP of $ 519,149 million.

23. Sweden

    A GDP of $ 517.44 billion is what has made Sweden the 23rd richest country in the world during 2016.

24. Belgium

    Belgium is the twenty-fourth richest country in the world, with a GDP of $ 470,179 million.

25. Poland

    The twenty-fifth position is taken by the Polish country, with a GDP of $ 467.35 billion.

Largest economy in the World

As we have said, the wealth and well-being of a country can be calculated in multiple ways.

The previous list reflected the twenty-five richest countries based on nominal GDP, that is, the amount of money the country owns without taking other factors into account. The amount of raw money that the country has is important, but if only that factor is taken into account, the information obtained is biased and limited, not knowing the real capacity of the general population.

To solve this problem, we can apply the GDP per capita, that is, the relationship between GDP and the number of inhabitants that allows us to make an average of what a citizen receives per year of the gross domestic product, which allows us to have a better idea of ​​the level life of the general population. Let’s see below the 25 countries with the highest GDP per capita.

1. Qatar

   Qatar is the country with the highest per capita income, with $ 137,162 a year per citizen.

2. Luxembourg

   Luxembourg is the European country with the highest per capita income, being the second in the world, with an amount of $ 97,639 per year.

3. Singapore

   With a GDP per capita of $ 83,066 a year, Singapore ranks third. This city-state located in southern Malaysia bases its economy on exports, oil and as a financial center.

4. Brunei

   The state of Brunei, on the island of Borneo, is the fourth country with the highest per capita income in the world, with $ 79,890 a year.

5. Kuwait

   The fifth position in this ranking of the countries with the highest GDP per capita is for Kuwait, with an approximate amount of $ 70,686 per year.

6. Norway

   At $ 67,166 a year, Norway’s per capita GDP makes Norway the sixth richest per capita.

7. United Arab Emirates

   The United Arab Emirates has a GDP per capita that places it in seventh place, with $ 66,347 per year per inhabitant.

8. San Marino

   The Serene Republic of San Marino, located within Italy, is another of the regions with the highest per capita income in the world, with $ 60,887 a year.

9. Switzerland

   Switzerland is one of the countries that, having one of the highest GDP in the world, also has the best distributed, with a GDP per capita of $ 58,149 per year.

10. Hong Kong

    Hong Kong is in tenth position as one of the countries with the highest per capita income in the world, with an amount of $ 55,097 per year.

11. United States

    The power with the highest GDP worldwide is one of those that also have the highest GDP per capita, this being $ 54,370 per year.

12. Saudi Arabia

    The per capita income of Saudi Arabia is $ 52,311 a year, being the eleventh largest power worldwide.

13. Ireland

    Ireland has a GDP per capita of $ 51,284 per year, being another of the countries with the highest wealth parity.

14. Bahrain

    The Kingdom of Bahrain, on the Persian Gulf coast, ranks fourteenth on this list with a per capita income of $ 49,020 a year.

15. Netherlands

    The Netherlands, and specifically the Netherlands, is another of the countries that coincide in having one of the highest nominal GDP while having the highest GDP per capita, with $ 47,960 a year in this second aspect.

16. Austria

    With a GDP per capita of $ 46,550 a year, Austria is another of the countries with the highest wealth parity, ranking 16th.

17. Australia

    With a GDP that placed it last year in thirteenth position among the richest countries in the world, Australia is ranked seventeenth in terms of the distribution of such wealth, with a GDP per capita of $ 46,550 per year.

18. Sweden

    This country is also one of the countries with the highest wealth, the best distributed, with a GDP per capita of $ 46,219 a year.

19. Germany

    Europe’s economic engine is ranked nineteenth in per capita income, at $ 46,216 a year.

20. Taiwan

    Taiwan’s gross domestic product at purchasing power parity values ​​is $ 46,036 annually, putting this region in 20th place.

21. Canada

    With a GDP per capita of $ 45,723 per year, Canada is in twenty-first position.

22. Denmark

    Denmark is another of the countries with the highest per capita income in the world, with $ 45,451 a year.

23. Iceland

    Iceland has a GDP per capita of 45,269, making it the twenty-third country with the highest level of wealth in the population.

24. Belgium

    Belgian citizens have a GDP per capita of $ 43,800 per year.

25. France

    In twenty – fifth place, France has a per capita income of US $ 41,018 per year.