GDP: $26,954 billion
Annual GDP Growth Rate: 1.6%
Source: Forbes
The United States has maintained its position as the world's leading economy and richest country for over 60 years from 1960 to 2023. Its economy is diverse, with strong sectors in services, manufacturing, finance, and technology. The US has a large consumer market, a supportive environment for innovation and entrepreneurship, a robust infrastructure, and favourable business conditions.
2. China
Source: Earth.Org
GDP: $17,786 billion
Annual GDP Growth Rate: 5.2%
Source: Forbes
China has experienced rapid economic growth since 1960, moving from the fourth-largest economy in the world to the second-largest in 2023. The Chinese economy is heavily reliant on manufacturing, exports, and investment. It has a large workforce, strong government support, advanced infrastructure, and a rapidly growing consumer market.
3. Germany
Source: TimeOut
GDP: $4,430 billion
Annual GDP Growth Rate: -0.1%
Source: Forbes
Germany's export-oriented economy is world-famous for its precision engineering, automotive, chemical, and pharmaceutical industries. It benefits from a skilled workforce, strong research and development, and a strong commitment to innovation.
4. Japan
Source: The Guardian
GDP: $4,231 billion
Annual GDP Growth Rate: 1.3%
Source: Forbes
Japan's renowned economy is known for its cutting-edge technology, world-class manufacturing, and thriving service sector. Key industries include automobiles, electronics, machinery, and finance. Additionally, Japan is respected for its dedicated workforce, innovative technological breakthroughs, and high-quality exports.
5. India
Source: Travel Triangle
GDP: $3,730 billion
Annual GDP Growth Rate: 5.9%
Source: Forbes
India is the world's fifth-largest economy in 2023, with a diverse and rapidly growing economy driven by key sectors such as IT, services, agriculture, and manufacturing. The country capitalizes on its large domestic market, young and tech-savvy workforce, and growing middle class.
6. United Kingdom
Source: The Telegraph
GDP: $3,332 billion
Annual GDP Growth Rate: -0.3%
Source: Forbes
The UK economy is a mix of services, manufacturing, finance, and creative industries. London is a global financial centre that attracts foreign investment. The UK's economic growth is also influenced by its trade agreements and globalisation.
7. France
Source: World Atlas
GDP: $3,052 billion
Annual GDP Growth Rate: 0.7%
Source: Forbes
France's economy is diverse, with strengths in aerospace, tourism, luxury goods, and agriculture. It is also known for its strong social safety net, well-maintained infrastructure, and significant investment in research and development.
8. Italy
Source: State Department
GDP: $2,190 billion
Annual GDP Growth Rate: 0.7%
Source: Forbes
Italy is known for its third-largest European Union economy, which thrives on a sophisticated market, innovative businesses, and a robust agricultural sector. This makes the country 8th on the list with the highest GDPs.
9. Brazil
Source: Time Doctor
GDP: $2,132 billion
Annual GDP Growth Rate: 0.9%
Source: Forbes
The Brazilian economic landscape carries various major sectors, including agriculture, mining, manufacturing, and services. Notably, Brazil stands out as a significant global centre that supports agricultural production and exports. The growth of Brazil's economy is influenced by factors such as commodity prices, domestic consumption, and advancements in infrastructure.
10. Canada
Source: Hotels.com
GDP: $2,122 billion
Annual GDP Growth Rate: 1.5%
Source: Forbes
The Canadian economy’s foundation is majorly dependent on the available natural resources in the region. These resources include abundant oil, gas, minerals, and timber. Additionally, the country features a flourishing services sector, a robust manufacturing industry, and a strong commitment to promoting innovation and technological progress.
