Published by Jul 4, 2024
In 2024, the United States had the largest economy in the world, with a gross domestic product of just under 29 trillion U.S. dollars. China had the second largest economy, at around 18.5 trillion U.S. dollars. Recent adjustments in the list have seen Germany's economy overtake Japan's to become the third-largest in the world in 2023, while Brazil's economy moved ahead of Italy's in 2024.
Global gross domestic product
Global gross domestic product amounts to almost 110 trillion U.S. dollars, with the United States making up more than one quarter of this figure alone. The 12 largest economies in the world includes all Group of Seven (G7) economies, as well as the four largest BRICS economies. The U.S. has consistently had the world's largest economy since the interwar period, and while previous reports estimated it would be overtaken by China in the 2020s, more recent projections estimate the U.S. economy will remain the largest by a considerable margin going into the 2030s.
The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.
The 20 countries with the largest gross domestic product (GDP) in 2024 (in billion U.S. dollars)
| Characteristic | 2023 | 2024 |
|---|---|---|
| United States | 27,357.83 | 28,781.08 |
| China | 17,662.04 | 18,532.63 |
| Germany | 4,457.37 | 4,591.1 |
| Japan | 4,212.94 | 4,110.45 |
| India | 3,572.08 | 3,937.01 |
| United Kingdom | 3,344.74 | 3,495.26 |
| France | 3,031.78 | 3,130.01 |
| Brazil | 2,173.67 | 2,331.39 |
| Italy | 2,255.5 | 2,328.03 |
| Canada | 2,140.09 | 2,242.18 |
| Russia | 1,997.03 | 2,056.84 |
| Mexico | 1,788.9 | 2,017.03 |
| Australia | 1,741.88 | 1,790.35 |
| South Korea | 1,712.79 | 1,760.95 |
| Spain | 1,581.15 | 1,647.11 |
| Indonesia | 1,371.17 | 1,475.69 |
| Netherlands | 1,117.1 | 1,142.51 |
| Turkey | 1,108.45 | 1,113.56 |
| Saudi Arabia | 1,067.58 | 1,106.02 |
| Switzerland | 885.14 | 938.46 |
Loading statistic...
Embed this statistic (FAQ)
 - Shopify)