Highest Gdp In The World- Our focus in this piece of writing is on Countries with Highest GDP in the World. Some country’s economy is doing well than the other which has caused a varying gap in their marketplace. The only way to know how a country’s economy is healthy is through their Gross Domestic Product (GDP) that refers to the monetary measure of the market value of final goods and services rendered over some time, often annually. Therefore, we’ll be focusing on the Top 10 Countries with the Highest GDP in the World and all the information you need t know.
In our quest to bring you most informative information and updates, here are our researched questions that we notice most readers are always inquisitive to know, if your question is among any of these, then be rest assured we will be writing on them here in this article, all we have requested of you is to follow us step by step as we bring you the most informative data on the Top 10 Highest Gdp In The World 2020.
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So, let us take a roll on this quickly.
TOP 10 COUNTRIES WITH HIGHEST GDP IN THE WORLD 2020- ALL YOU NEED TO KNOW
Before diving into in-depth discussion, the Country with the Highest GDP in the World below is a highlight of the countries that made a list.
- United States
- United Kingdom
- Canada[better-ads type='banner' banner='1920' ]
The ranking of Countries with Highest GDP in the World enlisted in this article is based on the ranking of the United Nation (UN) figures.
- #1. United States
- GDP: $ 18,624,475 trillion
- GDP per Capita: $65,058
The United State of America dubbed as the world’s superpower comes first on our list of Country with Highest GDP in the World. The United States has since 1871 occupied this position but are displaced by China when it comes to Purchasing power. The United’s State sits comfortably on this spot with a $7.4 trillion gap from China. The country is known for its high economic activities that are comprised of services-oriented companies in fields such as technology, financial services, healthcare, and retail. Besides, the United States houses large companies which play a major role on the global stage, with more than a fifth of those companies enlisted on the Fortune Global 500.
- #2. China
- GDP: $ 11,218,281 trillion
- GDP per Capita: $ 10,946
China is known to be a close rival and competitor to the United States in terms of the manufacturing and exportation of services and products. Their competition also goes further as China is ranked second on our list of countries with Highest GDP in the World. The Asian giant also the most populous country in the world displaced the United States topping the world base on Purchasing Parity Power (PPP). China is known for it is high and is presently the world’s manufacturing center or world factory been host to large and gigantic manufacturing companies. The country not only exports products but services as well making it have a global presence.
- #3. Japan
- GDP: $ 4,936,212 trillion
- GDP per Capita: $ $42,271
The economy of Japan is a highly developed and market-oriented economy, and with a GDP of $4.9 trillion, Japan comes third on our list of Countries with the highest GDP in the World and is expected reach $ 5 trillion soonest. The country is home to several notable companies known worldwide such as Toyota, Sony, Fujifilm, and Panasonic. The country major economic activities cut across transportation, exportation, and importation of products and services; manufacturing is another important aspect of Japan's strongest economic activities. However, the country has few natural resources. The country’s agricultural sector is thriving with Japan's main agricultural product include rice.
- #4. Germany
- GDP: $ 3,477,796 trillion
- GDP per Capita: $53,577
Germany is referred to as both the largest and the strongest economy in Europe but occupies the fourth spot on our list of Country with Highest GDP in the World. German has a mixed economy which allows a free market economy in consumer goods and business services making it a highly developed social market economy. Presently, Germany remains the European Union’s most politically, and economically powerful member nation was having previously in 2017 accounted for 28% of the eurozone economy according to the International Monetary Fund (IMF). The country’s major economic activities in the manufacturing industries which includes the automotive, chemicals, coal, metals (iron and steel), electrical equipment, ships, machine tools, high precision equipment, optics, pharmaceuticals, textiles, and plastic goods.
- #5. India
- GDP: $ 2,259,642 trillion
- GDP per Capita: $2,305
The Indian economy is gradually on the rise displacing the United Kingdom to occupy the fifth spot. Indian is improving on every one of its economic activities which are characterized by manufacturing industries, agriculture, medicine, technology, and mining making India the fastest growing major economy in the world. even though the high population of the country is dragging the nation down, it still manages to find itself among the top five Countries with Highest GDP in the world, talking about the first half if the list. The country has indeed been active economically having achieved over 4,750 technology start-ups making it the third largest startup base in the world with.
- #6. France
- GDP: $ 2,465,454 trillion
- GDP per Capita: $46,732
Making a list is another European Country dubbed the most visited country in the world. France is our next destination with a GDP of $ 2.4 trillion it occupies the sixth spot on our list. France is also the third largest economy in Europe, and it offers a high living standard. France economic activities do not rely only on the Tourism sector but on manufacturing industry (dominated by the chemical, automotive and armament industry) and the agriculture which the country is a leading producer of agricultural products, accounting for almost one-third of all agricultural land within the European zone. Also, France is the world’s second-largest agricultural exporter and the sixth-largest agricultural producer, after the United States.
- #7. United Kingdom
- GDP: $ 2,647,899 trillion
- GDP per Capita: $45,141
The United Kingdom made up of economies of England, Scotland, Wales, and Northern Ireland. The economy has a strong services sector, which makes up 78% of the UK’s GDP. The pharmaceutical industry has been on the rise. The most important economies in the UK include aircraft, electric power equipment, machine tools, shipbuilding, chemicals, food processing, clothing, and other consumer goods. London is Europe's largest city in terms of GDP and 2016, and it surpassed New York as the world’s leading financial center.
- #8. Italy
- GDP: $ 1,858,913 trillion
- GDP per Capita: $38,190
Italy is the fourth largest economy in the Eurozone but occupies the eight spot on our list of Country with Highest GDP in the world with $1.8 trillion. Italy plays among the driving force of the European Union. Its major trading partners are Germany and France are it's trading partners, while the European Union is its largest trading block. Italy is among the largest producers of wine in the world implying that it has a thriving agricultural sector. The country is also benefiting from the automobile industry which is also a major industry in the country with big automobile companies such as Fiat, Chrysler, Ducati, and Piaggio among its top automobile companies.
- #9. Brazil
- GDP: $ 1,795,926 trillion
- GDP per Capita: $10,626
As far as the South American is a concern, Brazil is the largest and most populous nation in that continent. With a GDP of $1.7 trillion, Brazil is the ninth Country with the Highest GDP in the World. Textile and shoe industry, cement factories, lumber, iron ore, and tin industries are the country’s major industries including high agriculture activity, which responsible for about 6% of the country’s total GDP. Nonetheless, the services and industry sectors still account for most of the country’s GDP.
- #10. Canada
- GDP: $ 1,529,760 trillion
- GDP per Capita: $51,195
Last but not least, the world’s 10th Country with the Highest GDP is Canada, with an official GDP of $1.5 trillion. Canada has strong industrial companies in various areas such as transportation equipment, food products, chemicals, wood and paper products as well as fishing. However, the services sector accounts for about 70.2% of the country’s GDP, seconded by an industry that contributes 28.1% and then the agriculture sector contributes 1.7%. Canada has experienced a huge increase in GDP over the last 50 years.
Conclusion On Top 10 Countries With Highest Gdp In The World 2020- All You Need To Know
I believe you are now acquainted with the Top 10 Countries with Highest GDP in the 10 World. Know that several factors influence a country’s GDP of including the per capita income, the number of goods a country produces and exports, including the wealth of a nation among other factors. There might be an offset by the time this article will be reviewed as some countries particularly Russia and Singapore may likely find themselves on the list next
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