The US population of approximately 342 million people plays a key role in its economic growth and development. Additionally, the US is home to diverse industries, a flexible labor market, and lots of international companies, making it the world’s strongest economy. Japan ranks among the top largest economies by GDP due to its strong manufacturing base, particularly in electronics and automobiles. It is a global leader in industries like electronics, automotive, and robotics.
Countries began to recover in 2021 from massive GDP drops in 2020 due to the COVID-19 pandemic, which had a major impact on economies around the world. Overall, countries have continued to experience growth, with global GDP rising to $117.17 trillion as of October 2025. There have been some big movers within the list in the last 20-plus years. China was in 6th place in 2000 but has been sitting in second place since 2010.
Least Racist Countries
- The Alpine nation of Switzerland is the 21st-largest economy in the world.
- Japan’s most popular trading partners include the US, China, Australia, Thailand, and South Korea.
- The country plays a major role in the global economy and trade by being one of the biggest exporters and having strong business ties with many countries around the world.
- Argentina’s top exports are soybean products, corn, cereals, beef, auto parts, crude petroleum, oils, and fuels.
- However, inefficient legal and regulatory structures and an aging population are challenges for Poland’s ongoing growth in the future.
Some of the key exports for Italy include machinery, pharmaceuticals, cars, gold, and food (with Italian olive oil being a popular product). Italy mainly trades with France, Germany, Spain, Switzerland and the US. The ranking of the world’s largest economies is based on the IMF World Economic Outlook, October 2025 edition.
Please note that the world’s largest economies are ranked by nominal GDP, or GDP at current prices. 11 sectors of the stock market In this article, we will cover the world’s largest economies by nominal GDP (GDP at current prices). This data is based on the World Economic Outlook report released by the International Monetary Fund (IMF). Argentina rounds out the top 25 global economies, according to the IMF’s October 2025 release. While more than half of Argentina’s GDP comes from the services sector, the country also has a strong base in agriculture, manufacturing, extraction, and construction.
Canada- Current GDP: $2.23 trillion
The top 10 economies in the world are ranked on their nominal GDP or GDP current prices, as per the reports released by the IMF (International Monetary Fund). These rankings are based on the total value of goods and services produced within each country’s borders in a given year. The countries on this list have various populations, politics, trade agreements, and demographics, all of which play a factor in how their economies and, therefore, GDP perform.
Here’s a look at the top 10 countries with the highest GDP rankings, according to the International Monetary Fund. Mriganka Chakraborty is a content writer with 7 years of rich experience in creative, academic, and research-based writing. Mriganka’s expertise lies in crafting innovative, engaging and compelling articles that effectively communicate the desired message to the target audience. At Jagranjosh, he is involved in English content creation for the General Knowledge category.
- In the case of gross national product (GNP), on the other hand, all income is deducted against that which has subsequently flowed abroad.
- It has a highly developed agricultural sector and is one of the largest agricultural exporters in the world.
- Overall, countries have continued to experience growth, with global GDP rising to $117.17 trillion as of October 2025.
- Coupled with an industrial policy that encourages domestic manufacturing, this has made China the world’s number one exporter.
Biggest economies in 2024 by gross domestic product
The main drivers of the Indian economy are the services, manufacturing, and agriculture sectors. India is growing at 6.8% annually and has been declared the fastest-growing economy in emerging markets by the International Monetary Fund (IMF). China entered the top five list for largest economies in 2005, and has since been climbing the ranks. Following 2010, the country has been reigning the number two spot, trailing behind the US.
The country has a diverse range of leading exports from minerals and fuels to textile and garments. While India’s major trades occur with many prominent partners like the US and China, the nation also remains a prominent trading partner of GCC countries, including the UAE and Saudi Arabia. Spain’s economy suffered severely during the Great Recession, with unemployment soaring above 25% and a rising national debt despite attempts at fiscal austerity. It is calculated by adding up the value of consumption, investment, government spending, and net exports (exports minus imports).
China
Other honorable mentions include pharmaceutical products, electronic equipment, and automotive vehicle parts. Some of the top American partners in trading include Canada, Mexico, China, Japan, and the United Kingdom. Indonesia’s economy is the largest economy in Southeast Asia and is based largely on commodity export industries. Major exports include coal and petroleum products, in addition to agricultural commodities suitable for industrial use, such as rubber and palm oil.
These are projections by the IMF (International Monetary Fund) for the year 2025, as ranked by nominal GDP. With a GDP of 29.18 trillion dollars, the USA is by far the world’s largest economy in this ranking for 2024. It is followed by China in second place with a GDP of 18.74 trillion dollars. Canada is also quite far ahead in the international comparison and occupies the ninth place in this ranking. GDP is determined by summing up consumption (expenditure by consumers), government expenditure, investment (expenditure by businesses), and net exports (the difference between exports and imports). GDP is the total values of Goods and services produced in country within specific periods.
GDP, or gross domestic product, is a measure of the total value of all goods and services produced within a country’s borders in a specific time period, typically a financial year. Poland’s healthy banking sector and sound macroeconomic policies allowed it to be the only EU country to avoid recession in the aftermath of the 2008 financial crisis. However, inefficient legal and regulatory structures and an aging population are challenges for Poland’s ongoing growth in the future. Russia has moved toward a more market-based economy over the 30 years since the collapse of the Soviet Union, but government ownership of and intervention in business is still common. As a leading exporter of oil and gas, as well as other minerals and metals, Russia’s economy is highly sensitive to swings in world commodity prices.
Millionaire Growth Around the World (2013–
Gross domestic product measures the total output of a nation and is used as a gauge of the health of an economy and its size. Countries consistently measure GDP growth as a way to determine how the economy is performing and what actions need to be taken to create steady growth. The Alpine nation of Switzerland is the 21st-largest economy in the world. Heavy industry, including iron and steel production, machinery manufacturing, shipbuilding, and coal mining, is an important part of Poland’s economy. With this progress, however, South Korea also now faces some of the same challenges that many other advanced economies are dealing with, including slower growth and an aging workforce.