The GDP of a country determines its economy rank globally which alters every year. The following are the current largest economies in the world.
1. The United States
The economy of the US is the largest one that makes 20% output in the world. The GDP accounted for the US is 80% in the area of the service sector and expected GDP growth in 2020 is 1.7%.
2. China
The economy of China has grown a lot over the last few years. The manufacturing zone of China has the largest share in the country’s GDP. Even the tertiary sector is growing currently.
3. Japan
The GDP value of the Japanese economy in USD is 5.2 trillion in the year 2019. Reports say that it will grow by 1.1% in the coming times.
4. Germany
Germany’s GDP growth rate was 1.6% between the years 1999 and 2008. The area of Germany’s capital goods export segment is drawing a lot. 1.8% is the rate at which the country is growing yearly.
5. UK
From the year 1999 to 2008, the GDP of the United Kingdom developed at moderate rate of 2.8%. In 2009, GDP fell by 5.2% and immediately expanded by 1.7% in 2010. It is expected to keep rising at a growth rate of 1.5% annually.
6. India
It is anticipated that India will soon replace UK and be in top 5 countries of the highest GDP growth rate. Currently, India is the country whose GDP is one of the fastest-growing ones at rate of 7.4%.
7. France
70% of the GDP is drawn from the service sector of France as it is the world’s leader of the railway sector, aerospace and automotive. The rate of GDP is now expected to increase by 1.7%.
8. Italy
The GDP of Italy is growing at a steady speed even after facing a lot of crises in the area of the economy. Its growth rate is increasing annually by 1.3%.
9. Brazil
Due to the high demand for Brazilian products, the GDP rose to 3.4% in the years 1999 and 2008 but fell in 2009 by 0.3%. The country had the highest GDP in 2010 which was 7.5%.
10. Canada
Canada is growing steadily and is expected to have its GDP rise by 1.4 annually.
