If you have followed the trends of global economies, you will find out that the majority of the countries that made the list have been in the list for decades and seem to be unshaken by the current realities.
In this article, we are going to take a thorough look at the top 10 global economies and also consider their GDP (gross domestic product). The economies that you will find in this list are considered to be the movers and shakers of trade in the world at large.
1. United States of America
Since 1871, the United States has been the No. 1 largest economy, and with the current realities, they just might retain this position for some more years to come. America’s economy before the Coronavirus was around $20.58 trillion dollars.
America’s economy is almost a quarter of the entire world economy. This is probably why they are referred to as the economic superpower.
China is known for its manufacturing capacity and it has taken them up in the strongest economy ranking. It is obvious that China keeps on climbing up the ladder of strong economies. In 1980, China was just 7th on the list and has gradually, over the years, worked their way up to the second position.
So many people say that China would assume the status of the U.S. in no time, especially now that the coronavirus has crippled lots of economies and sent others into debt.
It should not be news that Japan is sitting next to China on this list. Japan ranks third with a nominal GDP of $5.5 trillion. The country has had her ups and downs just like the majority of the countries you would find on the list, and they’ve all somehow managed to turn things all around.
With a nominal GDP of $3.86 billion dollars, Germany is Europe’s largest economy currently. Germany’s major source of income is its capital exports, and as can be seen, it is quite all they need.
A lot of people wouldn’t see this one coming, especially if you’re reading through this list for the first time. Believe it or not, India stands above the United Kingdom with a GDP of $2.94 trillion dollars
6. United Kingdom
The U.K. has a total GDP of $2.83 trillion dollars. Their economy is driven almost solely by their services sector. This sector contributes almost 75 percent of its entire GDP.
France is known majorly for agriculture and partly for tourism. The country is the most visited in the world and they have a GDP of $2.71 trillion.
Another European country that has been on the list for over 2 decades. Italy boasts of a GDP of $1.99 trillion and is known to be almost totally dependent on exports.
Brazil has a GDP of $1.85 trillion and is the most populous nation in Latin America.
Canada has a GDP of $1.73 trillion dollars.
It is noteworthy that these stats can change in no time, as you can clearly see that most of these countries are only a few billions away from one another.