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List of countries by GDP (nominal)

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Largest economies by nominal GDP in 2021[1]
Countries by nominal GDP in 2019[n 1]
  >$20 trillion
  $10–$20 trillion
  $5–$10 trillion
  $1–$5 trillion
  $750 billion–$1 trillion
  $500–$750 billion
  $250–$500 billion
  $100–$250 billion
  $50–$100 billion
  $25–$50 billion
  $5–$25 billion
  <$5 billion

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year.[2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.[3] Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.[4]

Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, does not take into account the differences of quality of goods and services among countries, and it also requires more estimation than nominal GDP.[5] On the whole, PPP per capita figures are less spread than nominal GDP per capita figures.[6]

Although the rankings of national economies have changed considerably over time, the United States has maintained its top position since the Gilded Age, a time period in which its economy saw rapid expansion, surpassing the British Empire and Qing dynasty in aggregate output.[7][8] Since China's transition to a market-based economy through controlled privatisation and deregulation,[9][10] the country has seen its ranking increase from ninth, in 1978, to second, in 2016. Economic growth accelerated and its share of global nominal GDP surged from 2% in 1980 to 15% in 2016.[8][1] Among others, India has also experienced an economic boom since the implementation of economic liberalisation in the early 1990s.[11]

The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF definitive data for the past year and estimates for the current year are published twice a year in April and October. Non-sovereign entities (the world, continents, and some dependent territories) and states with limited international recognition (such as Kosovo, the State of Palestine and Taiwan) are included in the list where they appear in the sources.

Table

The table is initially ranked by the average of the available estimates for each country or territory, and can be reranked by either of the sources.

GDP (US$ million) by country
Country or territory Region IMF[1] UN[12] World Bank[13]
Estimate Year Estimate Year Estimate Year
 United States (more) Americas 22,675,271 2021 21,433,226 2020 20,936,600 2020
 China (more) Asia 16,642,318 [n 2]2021 14,342,933 [n 3]2020 14,722,731 2020
 Japan (more) Asia 5,378,136 2021 5,082,465 2020 5,064,873 2019
 Germany (more) Europe 4,319,286 2021 3,861,123 2020 3,806,060 2020
 United Kingdom (more) Europe 3,124,650 2021 2,826,441 2020 2,707,744 2020
 India (more) Asia 3,049,704 2021 2,891,582 2020 2,622,984 2020
 France (more) Europe 2,938,271 2021 2,715,518 2020 2,603,004 2020
 Italy (more) Europe 2,106,287 2021 2,003,576 2020 1,886,445 2020
 Canada (more) Americas 1,883,487 2021 1,741,496 2020 1,643,408 2020
 South Korea (more) Asia 1,806,707 2021 1,646,539 2020 1,630,525 2020
 Russia (more) Europe 1,710,734 2021 1,692,930 2020 1,483,498 2020
 Brazil (more) Americas 1,491,772 2021 1,847,795 2020 1,444,733 2020
 Australia (more) Oceania 1,617,543 2021 1,380,207 2020 1,330,901 2020
 Spain (more) Europe 1,461,552 2021 1,393,490 2020 1,281,199 2020
 Mexico (more) Americas 1,192,480 2021 1,256,440 2020 1,076,163 2020
 Indonesia (more) Asia 1,158,783 2021 1,119,190 2020 1,058,424 2020
 Netherlands (more) Europe 1,012,598 2021 907,050 2020 912,242 2020
 Switzerland (more) Europe 824,734 2021 731,425 2020 747,969 2020
 Saudi Arabia (more) Asia 804,921 2021 792,966 2020 700,118 2020
 Turkey (more) Asia 794,530 2021 761,425 2020 720,101 2020
 Taiwan (more) Asia 759,104 [n 4]2021 669,034 2020 574,905 2017
 Poland (more) Europe 642,121 2021 595,862 2020 594,165 2020
 Sweden (more) Europe 625,948 2021 530,883 2020 537,610 2020
 Belgium (more) Europe 578,996 2021 533,097 2020 515,333 2020
 Thailand (more) Asia 538,735 2021 542,016 2020 501,795 2020
 Iran (more) Asia 682,859 2021 603,779 2020 491,718 2020
 Nigeria (more) Africa 514,049 2021 474,516 2020 432,294 2020
 Austria (more) Europe 481,796 2021 445,075 2020 428,965 2020
 Ireland (more) Europe 476,663 2021 398,590 2020 418,622 2020
 Argentina (more) Americas 418,150 2021 449,663 2020 383,067 2020
 United Arab Emirates (more) Asia 401,513 2021 421,142 2020 421,142 2019
 Israel (more) Asia 446,708 2021 395,098 2020 401,954 2020
 Norway (more) Europe 444,519 2021 403,336 2020 362,009 2020
 Philippines (more) Asia 402,638 2021 359,354 2020 361,489 2020
 Denmark (more) Europe 392,570 2021 350,104 2020 355,184 2020
 Malaysia (more) Asia 387,093 2021 364,684 2020 336,664 2020
 Singapore (more) Asia 374,394 2021 372,073 2020 339,998 2020
 Hong Kong (more) Asia 368,633 [n 5]2021 365,710 2020 346,586 2020
 Egypt (more) Africa 394,284 2021 317,359 2020 363,069 2020
 Bangladesh (more) Asia 352,908 [14] 2021 317,465 2020 324,239 2020
 South Africa (more) Africa 329,529 2021 351,430 2020 301,924 2020
 Vietnam (more) Asia 354,868 2021 261,921 2020 271,158 2020
 Chile (more) Americas 307,938 2021 282,318 2020 252,940 2020
 Finland (more) Europe 300,484 2021 269,296 2020 271,234 2020
 Colombia (more) Americas 295,610 2021 323,802 2020 271,347 2020
 Pakistan (more) Asia 286,340 2021 263,000 2020 263,687 2020
 Romania (more) Europe 289,130 2021 250,075 2020 248,716 2020
 Czech Republic (more) Europe 276,109 2021 250,680 2020 243,530 2020
 Portugal (more) Europe 257,391 2021 238,785 2020 231,256 2020
 New Zealand (more) Oceania 243,332 2021 206,936 2020 212,482 2020
 Venezuela (more) Americas 42,530 2021 134,960 2020 482,359 2014
 Peru (more) Americas 225,918 2021 226,850 2020 202,014 2020
 Greece (more) Europe 209,857 2021 205,326 2020 189,410 2020
 Iraq (more) Asia 190,733 2021 225,232 2020 167,224 2020
 Kazakhstan (more) Asia 187,836 2021 181,667 2020 169,835 2020
 Qatar (more) Asia 166,031 2021 183,466 2020 146,374 2020
 Hungary (more) Europe 176,543 2021 163,469 2020 155,013 2020
 Ukraine (more) Europe 164,593 [n 6]2021 153,781 [n 6]2020 155,582 2020
 Algeria (more) Africa 151,459 2021 171,157 2020 145,164 2020
 Kuwait (more) Asia 126,930 2021 134,623 2020 136,197 2019
 Morocco (more) Africa 124,003 2021 119,700 [n 7]2020 112,871 2020
 Slovakia (more) Europe 117,664 2021 105,079 2020 104,574 2020
 Cuba (more) Americas N/A 105,354 2018 103,131 2019
 Puerto Rico (more) Americas 100,684 2021 104,988 2020 103,138 2020
 Ecuador (more) Americas 100,595 2021 107,435 2020 98,808 2020
 Kenya (more) Africa 106,041 2021 95,501 2020 98,843 2020
 Ethiopia (more) Africa 93,966 2021 92,750 2020 107,645 2020
 Sri Lanka (more) Asia 84,532 2021 84,008 2020 80,707 2020
 Dominican Republic (more) Americas 83,917 2021 88,941 2020 78,845 2020
 Guatemala (more) Americas 81,402 2021 76,710 2020 77,605 2020
 Myanmar (more) Asia 76,195 2021 76,784 2020 76,186 2020
 Oman (more) Asia 74,115 2021 76,331 2020 76,332 2019
 Luxembourg (more) Europe 84,077 2021 71,104 2020 73,264 2020
 Bulgaria (more) Europe 77,782 2021 67,925 2020 69,105 2020
 Angola (more) Africa 66,493 2021 85,000 2020 62,307 2020
 Ghana (more) Africa 74,260 2021 66,999 2020 72,354 2020
 Panama (more) Americas 59,377 2021 66,787 2020 52,938 2020
 Tanzania (more) Africa 65,919 2021 61,136 [n 8]2020 62,410 2020
 Ivory Coast (more) Africa 70,991 2021 58,539 2020 61,349 2020
 Costa Rica (more) Americas 61,178 2021 61,773 2020 61,521 2020
 Belarus (more) Europe 60,725 2021 63,080 2020 60,258 2020
 Croatia (more) Europe 65,217 2021 60,415 2020 55,967 2020
 Uzbekistan (more) Asia 61,203 2021 57,921 2020 57,707 2020
 Lithuania (more) Europe 62,198 2021 54,627 2020 55,887 2020
 Slovenia (more) Europe 59,132 2021 54,174 2020 52,880 2020
 Uruguay (more) Americas 55,459 2021 56,045 2020 53,629 2020
 Serbia (more) Europe 60,435 2021 51,475 2020 52,960 2020
 DR Congo (more) Africa 55,088 2021 47,319 2020 49,869 2020
 Macau (more) Asia 39,449 [n 9]2021 53,859 2020 55,154 2019
 Turkmenistan (more) Asia 54,218 2021 48,276 2018 45,231 2019
 Azerbaijan (more) Asia 49,914 2021 48,047 2020 42,607 2020
 Jordan (more) Asia 44,979 2021 44,502 2020 43,698 2020
 Lebanon (more) Asia 19,126 2020 56,409 2020 33,383 2020
 Bolivia (more) Americas 43,110 2021 40,895 2020 36,689 2020
 Cameroon (more) Africa 44,893 2021 38,861 2020 39,802 2020
 Tunisia (more) Africa 44,265 2021 38,797 2020 39,236 2020
 Syria (more) Asia 60,043 2010 20,379 2020 40,405 2007
 Bahrain (more) Asia 37,503 2021 38,574 2020 38,475 2019
 Paraguay (more) Americas 37,836 2021 38,086 2020 35,304 2020
 Uganda (more) Africa 41,271 2021 32,609 2020 37,372 2020
 Libya (more) Africa 24,267 2021 32,600 2020 25,418 2020
 Latvia (more) Europe 37,720 2021 34,102 2020 33,505 2020
 Sudan (more) Africa 35,827 2021 34,895 2020 26,111 2020
 Estonia (more) Europe 35,187 2021 31,471 2020 31,030 2020
 Nepal (more) Asia 36,084 2021 30,714 2020 33,657 2020
 Cambodia (more) Asia 27,239 2021 27,097 2020 25,291 2020
 El Salvador (more) Americas 26,277 2021 27,022 2020 24,639 2020
 Honduras (more) Americas 26,161 2021 25,095 2020 23,828 2020
 Cyprus (more) Asia 26,479 2021 24,565 [n 10]2020 23,804 2020
 Senegal (more) Africa 27,927 2021 23,664 2020 24,911 2020
 Papua New Guinea (more) Oceania 24,536 2021 24,969 2020 23,592 2020
 Yemen (more) Asia 25,095 2021 24,935 2020 23,486 2018
 Iceland (more) Europe 24,155 2021 24,188 2020 21,715 2020
 Trinidad and Tobago (more) Americas 22,161 2021 23,208 2020 21,530 2020
 Zimbabwe (more) Africa 26,085 2021 21,440 2020 16,769 2020
 Zambia (more) Africa 18,955 2021 23,085 2020 19,320 2020
 Bosnia and Herzegovina (more) Europe 21,953 2021 20,164 2020 19,788 2020
 Laos (more) Asia 20,440 2021 18,822 2020 19,136 2020
 Afghanistan (more) Asia 19,938 2021 17,876 2020 19,807 2020
 Botswana (more) Africa 18,726 2021 18,340 2020 15,782 2020
 Mali (more) Africa 19,912 2021 17,432 2020 17,394 2020
 Gabon (more) Africa 18,362 2021 16,887 2020 15,593 2020
 Georgia (more) Asia 16,163 2021 17,742 2020 15,892 [n 11]2020
 Burkina Faso (more) Africa 18,853 2021 15,990 2020 17,369 2020
 North Korea (more) Asia N/A 16,331 2020 N/A
 Palestine (more) Asia 16,481 [n 12]2021 17,058 [n 12]2020 15,561 2020
 Albania (more) Europe 17,138 2021 15,278 2020 14,800 2020
 Jamaica (more) Americas 14,600 2021 15,830 2020 13,812 2020
 Malta (more) Europe 16,476 2021 14,863 2020 14,647 2020
 Benin (more) Africa 17,327 2021 14,403 2020 15,652 2020
 Haiti (more) Americas 22,431 2021 8,051 2020 13,418 2020
 Mozambique (more) Africa 13,957 2021 15,296 2020 14,021 2020
 Madagascar (more) Africa 14,746 2021 14,104 2020 13,721 2020
 Brunei (more) Asia 15,278 2021 13,469 2020 12,016 2020
 Mongolia (more) Asia 14,233 2021 13,852 2020 13,137 2020
 Niger (more) Africa 15,899 2021 12,927 2020 13,678 2020
 Guinea (more) Africa 16,339 2021 12,354 2020 15,681 2020
 Mauritius (more) Africa 12,212 2021 14,180 2020 10,914 2020
 Armenia (more) Asia 12,251 2021 13,672 2020 12,645 2020
 North Macedonia (more) Europe 13,821 2021 12,694 2020 12,267 2020
 Bahamas (more) Americas 11,706 2021 13,578 2020 11,250 2020
 Nicaragua (more) Americas 12,283 2021 12,520 2020 12,621 2020
 Congo (more) Africa 12,022 2021 12,397 2020 10,885 2020
 Namibia (more) Africa 11,381 2021 12,366 2020 10,700 2020
 Moldova (more) Europe 11,998 [n 13]2021 11,955 [n 13]2020 11,914 2020
 Chad (more) Africa 12,531 2021 11,271 2020 10,093 2020
 Equatorial Guinea (more) Africa 11,726 2021 11,024 2020 10,022 2020
 Rwanda (more) Africa 10,633 2021 10,355 2020 10,334 2020
 New Caledonia (more) Oceania N/A 9,879 2020 2,682 2000
 Malawi (more) Africa 9,268 2021 8,099 2020 11,962 2020
 Kosovo (more) Europe 8,810 2021 7,952 2020 7,611 2020
 Mauritania (more) Africa 9,239 2021 7,593 2020 7,779 2020
 Kyrgyzstan (more) Asia 7,470 2021 8,454 2020 7,736 2020
 Tajikistan (more) Asia 7,825 2021 8,333 2020 8,194 2020
 Bermuda (more) Americas N/A 7,361 2020 7,484 2019
 Monaco (more) Europe N/A 7,423 2020 7,424 2019
 Togo (more) Africa 8,627 2021 7,270 2020 7,575 2020
 Liechtenstein (more) Europe N/A 6,797 2020 6,839 2018
 French Polynesia (more) Oceania N/A 6,023 2020 3,448 2000
 Guyana (more) Americas 7,255 2021 5,173 2020 5,471 2020
 Cayman Islands (more) Americas N/A 6,020 2020 5,936 2019
 Montenegro (more) Europe 5,651 2021 5,542 2020 4,779 2020
 Maldives (more) Asia 4,536 2021 5,642 2020 4,030 2020
 Fiji (more) Oceania 4,586 2021 5,504 2020 4,376 2020
 Barbados (more) Americas 4,628 2021 5,209 2020 4,366 2020
 South Sudan (more) Africa 4,461 2021 4,959 2020 11,998 2015
 Eswatini (more) Africa 4,226 2021 4,594 2020 3,962 2020
 Sierra Leone (more) Africa 4,420 2021 4,121 2020 3,865 2020
 Somalia (more) Africa 5,367 2021 1,626 2020 4,918 2020
 Djibouti (more) Africa 3,663 2021 3,166 2020 3,384 2020
 Suriname (more) Americas 2,465 2021 3,697 2020 3,808 2020
 Andorra (more) Europe N/A 3,154 2020 3,155 2019
 Curaçao (more) Americas N/A 3,101 2020 3,102 2019
 Burundi (more) Africa 3,244 2021 3,002 2020 3,258 2020
 Greenland (more) Americas N/A 3,023 2020 3,052 2018
 Liberia (more) Africa 3,370 2021 2,582 2020 2,950 2020
 Aruba (more) Americas 2,582 2021 3,293 2020 3,202 2018
 Bhutan (more) Asia 2,480 2021 2,564 2020 2,409 2020
 Lesotho (more) Africa 2,458 2021 2,460 2020 1,845 2020
 Central African Republic (more) Africa 2,718 2021 2,220 2020 2,303 2020
 Eritrea (more) Africa 2,250 2021 1,981 2020 2,065 2011
 Saint Lucia (more) Americas 1,787 2021 2,122 2020 1,703 2020
 Cape Verde (more) Africa 2,003 2021 1,981 2020 1,704 2020
 East Timor (more) Asia 1,726 2021 2,017 2020 1,821 2020
 Gambia (more) Africa 2,078 2021 1,822 2020 1,902 2020
 Belize (more) Americas 1,700 2021 1,906 2020 1,764 2020
 Zanzibar Africa N/A 1,805 2020 N/A
 San Marino (more) Europe 1,688 2021 1,602 2018 1,616 2019
 Antigua and Barbuda (more) Americas 1,376 2021 1,661 2020 1,415 2020
 Solomon Islands (more) Oceania 1,644 2021 1,302 2020 1,551 2020
 Seychelles (more) Africa 948 2021 1,698 2020 1,125 2020
 Guinea-Bissau (more) Africa 1,647 2021 1,322 2020 1,432 2020
 British Virgin Islands (more) Americas N/A 1,296 2020 N/A
 Comoros (more) Africa 1,309 2021 1,165 2020 1,220 2020
 Turks and Caicos Islands Americas N/A 1,197 2020 925 2020
 Grenada (more) Americas 1,041 2021 1,211 2020 1,089 2020
 Sint Maarten (more) Americas N/A 1,009 2020 1,185 2018
 Saint Kitts and Nevis (more) Americas 831 2021 1,050 2020 927 2020
 Vanuatu (more) Oceania 912 2021 906 2020 855 2020
 Saint Vincent and the Grenadines (more) Americas 798 2021 825 2020 810 2020
 Samoa (more) Oceania 752 2021 844 2020 807 2020
 Dominica (more) Americas 523 2021 582 2020 470 2020
 Tonga (more) Oceania 508 2021 508 2020 512 2019
 São Tomé and Príncipe (more) Africa 485 2021 421 2020 473 2020
 Micronesia (more) Oceania 401 2021 414 2018 408 2019
 Cook Islands (more) Oceania N/A 379 2020 N/A
 Anguilla (more) Americas N/A 379 2020 N/A
 Palau (more) Oceania 229 2021 280 2020 268 2019
 Marshall Islands (more) Oceania 234 2021 237 2018 239 2019
 Kiribati (more) Oceania 231 2021 194 2020 200 2020
 Nauru (more) Oceania 133 2021 132 2020 118 2019
 Montserrat (more) Americas N/A 67 2020 N/A
 Tuvalu (more) Oceania 57 2021 47 2020 49 2020

See also

Notes

  1. ^ Based on IMF data. If no data is available for a country from the IMF, then data from the United Nations is used.
  2. ^ Figures exclude Taiwan, and special administrative regions of Hong Kong and Macau.
  3. ^ Figures exclude special administrative regions of Hong Kong and Macau.
  4. ^ The name used in IMF's report is "Taiwan Province of China".
  5. ^ The name used in IMF's report is "Hong Kong SAR".
  6. ^ a b Figures exclude Republic of Crimea and Sevastopol.
  7. ^ Includes Western Sahara.
  8. ^ Covers mainland Tanzania only.
  9. ^ The name used in IMF's report is "Macao SAR".
  10. ^ Data are for the area controlled by the Government of the Republic of Cyprus.
  11. ^ Excludes Abkhazia and South Ossetia.
  12. ^ a b The name used in IMF's an the World Bank's report is "West Bank and Gaza".
  13. ^ a b Excludes data for Transnistria.

References

  1. ^ a b c "World Economic Outlook Database, April 2021". IMF.org. International Monetary Fund. April 2021. Retrieved 8 May 2021.
  2. ^ "What is GDP and why is it so important?". Investopedia. IAC/InterActiveCorp. 26 February 2009. Retrieved 23 May 2016.
  3. ^ Moffatt, Mike. "A Beginner's Guide to Purchasing Power Parity Theory". About.com. IAC/InterActiveCorp. Retrieved 31 May 2014.
  4. ^ Ito, Takatoshi; Isard, Peter; Symansky, Steven (January 1999). "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia" (PDF). Changes in Exchange Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues. National Bureau of Economic Research. Retrieved 23 May 2016.
  5. ^ Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development. International Monetary Fund. Retrieved 30 May 2014.
  6. ^ Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy's All". Finance & Development. International Monetary Fund. Retrieved 31 May 2014.
  7. ^ Matthews, Chris (5 October 2014). "5 Most Powerful Economic Empires of All Time". Fortune. Time, Inc. Retrieved 23 May 2016.
  8. ^ a b Kroeber, Arthur R. (2016). China's Economy: What Everyone Needs to Know. New York, United States: Oxford University Press. ISBN 9780190239053.
  9. ^ Kau, Michael Ying-mao (30 September 1993). China in the Era of Deng Xiaoping: A Decade of Reform. Studies on Contemporary China. Taylor & Francis. ISBN 9781563242786. Retrieved 23 May 2016.
  10. ^ Hu, Zuliu; Khan, Mohsin S. (April 1997). "Why Is China Growing So Fast?" (PDF). Economic Issues. International Monetary Fund. Retrieved 26 May 2016.
  11. ^ Rodrik, Dani; et al. (March 2004). "From "Hindu Growth" to Productivity Surge: The Mystery of the Indian Growth Transition" (PDF). National Bureau of Economic Research. Retrieved 23 March 2016.
  12. ^ "United Nations Statistics Division - National Accounts". unstats.un.org.
  13. ^ "GDP (current US$) | Data". data.worldbank.org. Retrieved 2 July 2021.
  14. ^ "Report for Selected Countries and Subjects".