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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 20.9 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 States20,936.663,544
2China14,722.710,500
3Japan5,064.940,113
4Germany3,806.145,724
5United Kingdom2,707.740,285
6India2,623.01,901
7France2,603.038,625
8Italy1,886.431,676
9Canada1,643.443,242
10South Korea1,630.531,489
11Russia1,483.510,295
12Brazil1,444.76,797
13Australia1,330.951,812
14Spain1,281.227,057
15Mexico1,076.28,347
16Indonesia1,058.43,870
17Netherlands912.252,304
18Switzerland748.086,602
19Turkey720.18,538
20Saudi Arabia700.120,110
21Poland594.215,656
22Sweden537.651,926
23Belgium515.344,594
24Thailand501.87,189
25Venezuela482.416,056
26Nigeria432.32,097
27Austria429.048,105
28United Arab Emirates421.143,103
29Ireland418.683,813
30Israel402.043,611
31Argentina383.18,442
32Egypt363.13,548
33Norway362.067,294
34Philippines361.53,299
35Denmark355.260,909
36Hong Kong346.646,324
37Singapore340.059,798
38Malaysia336.710,402
39Bangladesh324.21,969
40South Africa301.95,091
41Colombia271.35,333
42Finland271.249,041
43Vietnam271.22,786
44Pakistan263.71,194
45Chile252.913,232
46Romania248.712,896
47Czechia243.522,762
48Portugal231.322,440
49New Zealand212.541,792
50Peru202.06,127

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 12th place at once. China, with 10,500 USD per inhabitant, only reaches 79th place. And right at the top are now Monaco (190,513 $), Liechtenstein (180,367 $), and the Bermudas width 117,098 $ per inhabitant. Canada moves from 9th to 28th place.

Gross domestic product or gross national 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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