largest-economies-in-the-world

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.CountryNominal GDP
(millions of USD)
World74,583,642
1U.S18,561,934
European Union16,739,022
2China11,391,619
3Japan4,730,300
4Germany3,494,898
5UK2,649,893
6France2,488,284
7India2,250,987
8Italy1,852,499
9Brazil1,769,601
10Canada1,532,343
11South Korea1,404,383
12Russia1,267,754
13Australia1,256,640
14Spain1,252,163
15Mexico1,063,606
16Indonesia940,953
17Netherlands769,930
18Turkey735,716
19Switzerland662,483
20Saudi Arabia637,785
21Sweden557,938
22Poland516,128
23Norway511,252
24Belgium506,560
25Taiwan489,213
26Argentina488,213
27Austria415,366
28United Arab Emirates396,235
29Thailand387,156
30Colombia381,822
31Venezuela373,978
32Iran366,259
33South Africa350,779
34Denmark330,958
35Malaysia312,433
36Singapore295,744
37Israel291,500
38Nigeria286,470
39Chile276,975
40Hong Kong, China273,658
41Philippines272,018
42Egypt271,427
43Finland256,922
44Greece241,796
45Pakistan238,737
46Iraq229,327
47Kazakhstan220,347
48Portugal219,972
49Ireland217,884
50Peru206,542
51Algeria206,095
52Taste202,561
53Czech Republic198,312
54Romania189,659
55Kuwait185,319
56New Zealand181,330
57Ukraine176,235
58Vietnam170,565
59Bangladesh141,275
60Hungary132,426
61Angola121,704
62Morocco105,101
63Slovakia95,805
64Ecuador94,144
65Oman80,571
66Azerbaijan73,537
67Belarus71,710
68Sudan70,127
69Libya67,622
70Sri Lanka65,833
71Cuba62,705
72Dominican Republic60,765
73Luxembourg59,838
74Croatia58,058
75Uzbekistan56,476
76Myanmar56,408
77Uruguay56,345
78Guatemala54,383
79Bulgaria53,046
80Costa Rica49,621
81Ethiopia48,145
82Lithuania47,560
83Tunisia47,439
84Slovenia46,851
85Kenya45,082
86Lebanon44,318
87Ghana44,223
88Serbia42,525
89Turkmenistan40,569
90Panama40,329
91Yemen39,152
92Jordan33,860
93Tanzania32,536
94Bahrain32,215
95Latvia30,953
96Democratic Republic of Congo30,639
97Bolivia29,802
98Paraguay28,333
99Ivory Coast28,288
100Cameroon27,957
101Trinidad and Tobago27,703
102The Savior24,512
103Estonia24,484
104Uganda23,053
105Zambia22,416
106Cyprus21,827
107Afghanistan20,735
108Nepal19,341
109Gabon19,228
110Honduras18,813
111Bosnia and Herzegovina17,828
112Brunei16,214
113Georgia16,162
114Papua New Guinea15,973
115Cambodia15,659
116Equatorial Guinea15,574
117Mozambique15,329
118Senegal15,154
119Botswana14,837
120Iceland14,656
121Jamaica14,288
122Republic of Congo13,781
123South Sudan13,734
124Chad13,411
125Zimbabwe12,951
126Albania12,850
127Namibia12,318
128Burkina Faso12,247
129Mauricio11,930
130Mongolia11,516
131Nicaragua11,272
132Madagascar11,210
133Mali11,070
134Armenia10,547
135Macedonia10,238
136Laos10,002
137malt9,545
138Tajikistan8,497
139Haiti8,458
140Bahamas8,367
141Benin8,310
142Moldova7,935
143Rwanda7,431
144Niger7,359
145Kyrgyzstan7,225
146Kosovo6,827
147Monaco6,581
148Guinea6,282
149East Timor6,147
150Surinam5,057
151Sierra Leone4,788
152Montenegro4,377
153Togo4,360
154Barbados4,284
155Mauritania4,187
156Fiji4,037
157Palestine4,016
158Malawi3,814
159Andorra3,712
160Swaziland3,620
161Eritrea3,444
162Guyana2,970
163Burundi2,723
164Lesotho2,276
165Maldives2,276
166Bhutan1,985
167Liberia1,933
168Cape Verde1,920
169San Marino1,802
170Belize1,604
171Central African Republic1,538
172Djibouti1,457
173Seychelles1,398
174St. Lucia1,317
175Old and bearded1,212
176Solomon Islands1,097
177Gambia850
178Guinea-Bissau845
179Vanuatu821
180Pomegranate814
181Saint Kitts and Nevis767
182St. Vincent and the Grenadines720
183Samoa705
184Comoros652
185Dominica498
186Tonga477
187Micronesia333
188Sao Tome and Principe308
189Palau246
190Marshall Islands175
191Kiribati172
192Tuvalu38
193Syrian / 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.