To learn more about cookies, click here. Figures are based on official exchange rates, not on the purchasing power parity (PPP) methodology. Live data and insights on Coronavirus outbreak around the world, including detailed statistics for the US, Italy, EU, and China. The nominal GDP for the United States is $21.44 trillion. When China first joined the WTO 20 years ago, they were between Brazil and Italy. Disclaimer: Millions of Americans remain unemployed due to shutdowns and cutbacks. Italy is the second-largest exporter in the European Union, behind Germany, and has a significant trade surplus from exporting machinery, vehicles, food, clothing, luxury goods, and more. The rest of the world’s economic powerhouses have comparatively much smaller economies, including Japan ($5.08T), Germany ($3.84T) and India ($2.88T). This is an alphabetical list of countries by past and projected gross domestic product … China represented 1.618% of the world's economy in 1987 (lowest point), rising to 11.47% in 2012 (highest point). International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. Several factors contribute to the U.S.’s powerful economy. Brazil represented 3.34% of the world's economy in 2011 (highest point), and had its lowest world economy share... Canada. The data on GDP by country from the World Bank presented on this page covers the period for the last half of the century. This list of countries by largest historical GDP shows how the membership and rankings of the world's ten largest economies has changed. Find Out, Online tool for visualization and analysis. As such, the nominal GDP is typically used to measure and compare the size of national economies. GDP is the single most commonly referenced figure to cover the entirety of a national economy and its trajectory in a single statistic. PPP GDP stays relatively stable from year to year and isn’t significantly impacted by shifts in the exchange rate. ^ Milanovic 2006, p. 460, 468: In conclusion, the fact that the average incomes in the most developed agricultural economies like Augustan Rome and Basil's Byzantium were about twice or less than the subsistence minimum might indicate that the pre-industrial societies were unlikely to ever exceed that ceiling. It accounted for 17.2% of the world's economy in 1870. The United Kingdom, which has a $2.83 trillion GDP, is the sixth-largest economy in the world. GDP definition, 2019 Estimates and Global GDP Live Clock, List of Countries in the world by GDP, Historical GDP by year, GDP per capita, GDP growth. The world GDP is the added total of the gross national income for every country in the world. We went to a McDonalds where a young, hot White blonde took my order. [16], The United States represented 28.69% of the world's economy in 1960 (highest point), and was at its lowest point at 21.42% in 2011. For example, PPP may compare the cost of a car in France to the cost of a car in Japan (after using the exchange rate to convert yen to Euros, or vice versa) to analyze the difference in GDP and cost of living between these nations. Probably overstated, but China is not small. [1][2], The following list contains the various countries' projected GDP (nominal) from 2020 to 2025. Brazil represented 3.34% of the world's economy in 2011 (highest point), and had its lowest world economy share at 1.55% in 1969. Luxembourg? Canada’s GDP is expected to rise to $2.13 trillion by 2023. World Bank statistics of the ten largest economies by GDP (PPP), Angus Maddison statistics of the ten largest economies by GDP (PPP). In terms of GDP purchasing power parity, the UK is in the ninth spot with a GDP (PPP) of The UK is ranked 23rd for GDP per capita which is $42,558. These measures have helped India accelerate economic growth. Brazil is also the largest and most populous nation in Latin America. Just barely bigger than New Jersey at 10,760 sq.mi. Gross national income takes a country’s GDP, adds the value of income from imports, and subtracts the value of money from exports. Over 2,000 Years of Economic History in One Chart All major powers compared by GDP from the year 1 AD. India made up 16% of the world's economy in 1820 and 25% in the 1500s .[13].