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Largest economies by gross domestic product

The world's largest economies

The economic strength of a country is determined by its gross domestic product (GDP). In other words, the amount of all income generated in the country from the sale of goods and services.

With a GDP of 21.0 trillion USD, the USA is by far the world's largest economy in this ranking for 2020. It is followed by China in 2nd place with a GDP of still 14,722.7 tn USD. Canada is also quite far ahead in the international comparison and could occupy the 9th place in this ranking.

The richest countries in the world
Average income in comparison
Map of countries by gross domestic product

Biggest economies in 2020 by gross domestic product


RankCountryGDP in billion $GDP in $ per capita
1United States20,953.063,593
2China14,722.710,435
3Japan5,057.840,193
4Germany3,846.446,208
5United Kingdom2,759.841,059
6India2,660.21,928
7France2,630.339,030
8Italy1,888.731,714
9Canada1,645.443,295
10South Korea1,637.931,631
11Russia1,483.510,295
12Brazil1,444.76,797
13Australia1,327.851,693
14Spain1,281.527,063
15Mexico1,073.98,329
16Indonesia1,058.43,870
17Netherlands913.952,397
18Switzerland752.287,097
19Turkey720.08,536
20Saudi Arabia700.120,110
21Poland596.615,721
22Sweden541.252,274
23Belgium521.945,159
24Thailand501.67,187
25Venezuela482.416,056
26Austria433.348,587
27Nigeria432.32,097
28Ireland425.985,268
29Israel407.144,169
30Argentina389.38,579
31Egypt365.33,569
32Norway362.267,330
33Philippines361.53,299
34United Arab Emirates358.936,285
35Denmark356.161,063
36Hong Kong346.646,324
37Singapore340.059,798
38Malaysia337.010,412
39South Africa335.45,656
40Bangladesh323.11,962
41Colombia271.45,335
42Vietnam271.22,786
43Finland269.648,745
44Pakistan262.61,189
45Chile252.913,232
46Romania248.712,896
47Czechia245.322,931
48Portugal228.522,176
49New Zealand210.741,441
50Iran203.52,422

Calculated differently: Economic strength per capita

Large countries with many inhabitants naturally also have high sales and a correspondingly a high gross domestic product. A large but not populous country like Canada, with its current population of 38.0 million, has little chance of matching the combined economic output of 329.5 million US-Americans or 1.4 billion Chinese. However, if you compare the economic output per capita, the picture is suddenly completely different. The USA slips from its top position to 11th place at once. China, with 10,435 USD per inhabitant, only reaches 80th place. And right at the top are now Liechtenstein (175,814 $), Principality of Monaco (173,688 $), and Luxembourg width 116,015 $ per inhabitant. Canada moves from 9th to 27th place.

Gross domestic product or gross national product?

Largest economies by gross domestic product The gross domestic product (GDP) is the sum of all revenues generated domestically within a year. It does not matter which nationality the respective person has. Thus, if a guest worker lives in a country, his or her economic performance is included in the GDP. On the other hand, GDP does not include services provided by nationals abroad.

In the case of gross national product (GNP), on the other hand, all income is deducted again that has subsequently flowed abroad. The services of guest workers are thus reallocated to the state in which the worker has his or her home country. In individual economic sectors, this is quite appropriate. However, if one evaluates the economic performance of a country, the country not only provides the workers, but also land, machines, innovations and sales markets. Last but not least, the income is usually also taxed there. Therefore, one takes the GDP.
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