USA

Source: ru.wikipedia.org

The United States has maintained the status of a leading global economy since 1871. In 2019, in nominal terms, its volume amounted to $ 21.44 trillion. $ 22.32 trillion forecast for 2020.

Is this country often called an economic superpower because it is almost? from the global economy, it is distinguished by the development of infrastructure, technology, and an abundance of natural resources. And this despite the fact that 80% of the country’s gross domestic product comes from the service sector.

When assessed on the basis of purchasing power parity, the United States is inferior to the first line in the People’s Republic of China and lags behind by $ 6 billion. According to the Navy, the gap will widen, and by 2024 the United States will have $ 25.79 trillion, and the PRC – $ 39.81 trillion.

2. China

• Nominal GDP: $ 14.14 trillion
• PPP GDP: $ 27.31 trillion

The most powerful economies in the world can not do without China. Over the past few decades, China has achieved exponential growth, breaking the barriers of centralized closed trade. Now it is a production and export center, sometimes called the “factory of the world”.

In 1980, China was in the TOP-20 on the seventh line with $ 305.35 billion of GDP. The United States then had $ 2.86 trillion. Thanks to the reforms launched in 1978, China actually began to increase 10% of GDP each year. Recently, these rates have slowed, although they remain very high..

The World Bank, referring to the jump in China’s economic growth in 2017, refers to the cyclical recovery of world trade. In 2018, the organization predicted growth of 6.6%, and was right. In 2019, growth was 6.1%. Gradually, by 2023, according to experts, it will decrease to 5.6%.

Due to the large population, China is not among the leaders in per capita GDP – $ 19,500 (74th in the world).

3. Japan

• Nominal GDP: $ 5.15 trillion
• PPP-based GDP: $ 5.75 trillion

The financial crisis of 2008 shook the Land of the Rising Sun, as it was accompanied by weak domestic demand and huge public debt. In addition, after overcoming the peak, a strong earthquake struck the economy and social sphere. But by 2020, the Japanese economy surpassed the nominal GDP mark of $ 5 trillion. Forecast by 2021 – $ 5.59 trillion.

The Japanese economy will receive an additional incentive for the 2020 Olympics, which always attracts investment to the host country. Bank of Japan tight monetary policy also contributes to strengthening.

In 2019, per capita GDP was $ 45,550 – the thirty-first indicator in the world.

4. Germany

• Nominal GDP: $ 3.86 trillion
• PPP GDP: $ 4.44 trillion

Germany has not only the largest, but also the strongest economy in Europe. It is the fourth in the world in terms of nominal GDP. GDP at purchasing power parity is $ 4.44 trillion, while per capita GDP is $ 53 570 (20th place). In 1980, German economic volume amounted to $ 850 billion, which was enough for third place in the ranking.

Germany was heavily dependent on the export of capital goods, and this intensified the impact of the 2008 crisis. In 2016 and 2017, the economy grew by 2.2% and 2.5%. In 2018 and 2019 – by 1.5% and 0.5%. Forecast for 2020 – 1.2%.

Germany contributes to maintaining economic strength launch of Industry 4.0. This is a strategic initiative to create a leading market and provider of advanced manufacturing solutions for the whole world..

5. India

• Nominal GDP: $ 2.94 trillion
• PPP GDP: $ 11.33 trillion

India is the state with the fastest growing economy in the world, although it has slowed down in recent years. In 2019, she took the fifth place in the ranking from the UK. However, the per capita GDP of this country is far from the leading position – $ 8? 380.

In 1980, the Indian economy was only $ 189 billion (13th place). In 2018, the economy grew by 6.8%, in 2019 – by 6.1%. For 2020, the Navy predicts an increase of 7%.

Postcolonial India was initially a purely agrarian state, but has seriously increased production and services over the past decades. Today, services make up 60% of the economy and provide 28% of the workforce..

Industry is the second most important segment and is actively stimulated through government initiatives. The agricultural sector occupies about 17%, but this is still a lot compared to Western countries.

The economic advantages of India now are low dependence on exports, high demographics and the growth of the middle class. That is why India is rightfully included in the most powerful economies in the world..

6. UK

• Nominal GDP: $ 2.74 trillion
• PPP GDP: $ 3.13 trillion

The United Kingdom ranks sixth in nominal GDP, and ninth in GDP based on PPP. Per capita is $ 46,830, which puts the country on the 30th step in the world. In 2019, nominal GDP reached 2.74 trillion, $ 3.02 trillion is expected by 2023.

From 1992 to 2008, the British economy observed upward trends in each quarter. However, since April 2008, a decline in production volumes has been recorded over five quarters. The economy during this time shrank by 6%, and it took five years to return to the pre-recession level.

Three quarters of GDP in the UK economy is contributed by the service sector. The second most important segment is agriculture. Although only 2% of workers are employed, 60% of UK food needs are produced domestically..

7. France

• Nominal GDP: $ 2.71 trillion
• PPP GDP: $ 3.06 trillion

France is the most visited country in the world, having the third largest economy in Europe. It provides a high standard of living with a GDP per capita of $ 47,220.

In recent years, economic growth has slowed, and under pressure from rising unemployment, the government has had to develop a reset plan. In 2014-2016, the World Bank recorded an unemployment rate of 10%. By the end of 2019, this figure dropped to 8.5%.

In addition to tourism, which is an important part of the economic system, France is one of the leading agricultural producers. It accounts for about a third of EU agricultural land.

The country ranks sixth in the world in terms of agricultural production and is second only to the United States in its exports. The manufacturing industry is dominated by chemical industry, automotive and weapons. All this helps France to be among the most powerful economies in the world..

8. Italy

• Nominal GDP: $ 1.99 trillion
• PPP-based GDP: $ 2.44 trillion

Despite the status of a significant member of the European Union, Italy is experiencing problems: unemployment is still about 10% (among young people – 28.6%), political and economic chaos is evident in the republic. In addition, there is public debt in the region of 144% of GDP.

But there is a resource for recovery, given the stable export and investment in the business. In 2016 and 2017, growth was recorded by 1.1% and 1.7%, in 2018 – by 0.9%. In 2019, GDP has not changed. For 2020, the IMF predicts + 0.5%.

9. Brazil

• Nominal GDP: $ 1.85 trillion
• PPP-based GDP: $ 3.46 trillion

Brazil is the largest state in terms of area and population in South America. Internal political uncertainty, corruption problems and the end of the so-called commodity supercycle weakened the investment and business environment in the country, but it seems that the situation is improving.

In 2006-2010, Brazil gained an average of 4.5%, in 2011-2013 – 2.8%. In 2014, growth was 0.5%. After a rollback of 3.3% in 2016, there was again a growing trend: + 1.1% in 2017 and 2018, + 0.9% in 2019.

10. Canada

• Nominal GDP: $ 1.73 trillion
• PPP-based GDP: $ 1.9 trillion

Canada has shifted Russia from tenth place in the ranking in 2015 and still holds its position. In 2019, nominal GDP reached $ 1.73 trillion, and growth is expected to reach $ 2.12 trillion by 2023.

Despite the importance of the service segment, 68% of exports are industrial products. Canada pays much attention to industry as a key factor in future economic growth.

In 2017, the kingdom recorded an increase of 3%, in 2018 – by 1.9%, in 2019 – by 1.5%. Forecast for 2020 – an increase of 1.8%.

11. Russia

• Nominal GDP: $ 1.64 trillion
• PPP-based GDP: $ 4.35 trillion

Russia is also one of the most powerful economies in the world. Our country is the largest state, but only the eleventh in nominal GDP. When considering PPP-based GDP, the sixth.

The 1990s became a difficult period for the economy of a country that inherited a devastated industry and agriculture.

In the zero, an increase of 7% was recorded, but this was due to the raw material boom. Energy dependence affected Russia badly during the crisis times of 2008-2009 and 2014.

2016 ended with an economic growth of 0.2%. In 2017, the country achieved growth of 1.6%, in 2018 – by 2.3%, in 2019 – by 1.1%. The Navy suggests that by 2020, Russia’s nominal GDP will grow by 1.9%.

12. South Korea

• Nominal GDP: $ 1.63 trillion
• PPP-based GDP: $ 2.32 trillion

South Korea is known for such conglomerates as Hyundai and Samsung, but not only through their efforts the republic penetrated the most powerful economies in the world and approached the TOP-10. Over the past decades, the country has made incredible progress, becoming one of the global leaders in high technology.

In the 1960s, South Korea was one of the poorest countries in terms of GDP per capita, and now it is at 32nd position in the world for this indicator ($ 44,740). Already in 2004, industrialization and international trade introduced it into the Trillion Club. South Korea’s economy grew 2% in 2019.

Now she is one of the world’s leading exporters. Even in the country, tremendous conditions have been created for investing from abroad and doing business.

13. Spain

• Nominal GDP: $ 1.4 trillion
• PPP-based GDP: $ 1.94 trillion

The economy of Spain is consistently taking 5th place in terms of volume in Europe and is faster than the Italian one, returning to the pre-crisis level of 2008. In the sectoral structure, 2/3 are occupied by services, 12% – industry, 2.3% – agriculture. One of the locomotives of the economy is tourism. Spain’s attendance is growing every year from 2009 to 2019.

Active growth is hampered by weaknesses in the sectors of information technology, electronics, and engineering communications.

In 2017, real GDP growth amounted to 3%, in 2018 – 2.6%, in 2019 – 2.2%. IMF forecast for 2020 – an increase of 1.8%.

14. Australia

• Nominal GDP: $ 1.38 trillion
• PPP GDP: $ 1.36 trillion

Australia has the largest economies in the Pacific and the ninth capitalization securities exchange in the world. It has been steadily increasing GDP since 2009.

In 2013, the country was the 12th in the world in terms of GDP, and by 2018 it was overtaken by South Korea and Spain. But in the same 2018, Australia was the country with the largest median wealth per adult..

In 2017, GDP growth amounted to 2.4%, in 2018 – 2.7%, in 2019 – 1.7%. 2.3% forecast for 2020.

At the beginning of 2020, catastrophic forest fires hit the country. It is not yet possible to fully assess the damage, but this will definitely become one of the obstacles to GDP growth..

15. Mexico

• Nominal GDP: $ 1.27 trillion
• PPP-based GDP: $ 2.63 trillion

In 2001, Mexico was the eighth country in the world in nominal GDP. By 2004 – dropped out of the top ten, and by 2009 – settled in 15th place.

The oil industry plays an important role in the economy of this country. Therefore, in 2015-2016, under the influence of unfavorable dynamics of oil prices, Mexico’s nominal GDP decreased by 18.8%. This was followed by growth, and the country almost “won back” what it lost.

According to the IMF, in 2017-2018, Mexico’s GDP grew by 2-2.1%, in 2019 – by 0.4%. Forecasted at 1.3% for 2020.

Read: Top 20 countries that live richer than others

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