Some Canadian exports include crude petroleum, coal, gold, and wood and lumber goods. Germany is a top exporter of vehicles, machinery, chemicals, and other manufactured goods and has a highly skilled workforce. However, the country faces some demographic challenges to its economic growth.
As with most complex phenomena — and it’s hard to find phenomena more complex than an entire country’s economy — there’s no simple, easy way to measure economic activity. For this article, we looked at what’s called nominal GDP, which is probably the simplest overall. Still, Italy’s economic situation varies considerably by region, with the north being, in general, more industrial and wealthier. Meanwhile, the more rural south is where many of the biggest tourist draws exist, as well as much of the rich agricultural land. The largest economy in Asia is China, with a nominal GDP of over $18,270 billion in 2025.
The success of the US economy can largely be attributed to sectors like real estate, finance, construction, and healthcare. In terms of trading, petroleum and oil have been the top exports for the states for almost two decades now. Other honorable mentions include pharmaceutical products, electronic equipment, and automotive vehicle parts. Some of the top American partners in trading include Canada, Mexico, China, Japan, and the United Kingdom.
Brazil
Its low fertility rate makes replacing its aging workforce more difficult, and its high levels of net immigration strain its social welfare system. As China has progressively opened its economy over the past four decades, economic development and living standards have greatly improved. India, as the world’s fifth-largest economy, is another country on the rise, but also one facing significant challenges, both social and environmental. While the Indian government has taken steps to encourage foreign investment and domestic development, much of the population still struggles with basic necessities. There has been some rebound recently, with renewed economic growth in the export industries for which Japan became so well known. Like many other modern societies, Japan has an aging population, posing some challenges to continued growth.
Where Are Millionaires Growing Most in the World?
It was just outside the top 10 in 2000, but its current standing in the global economy owes a lot to a combination of state-guided privatization and massive investment in infrastructure and industry. That said, growth will slow to around 1.5% going forward according to our panelists’ estimates, amid a weak business environment and a declining population. As of 2025, the UAE has a GDP of $548.6 billion, placing it amongst the top 30 largest economies worldwide. This is expected to continue growing exponentially with IMF predictions indicating a GDP of $736.81 billion by 2030. Russia is the largest country by area and also the ninth-largest economy.
- With a GDP of 29.18 trillion dollars, the USA is by far the world’s largest economy in this ranking for 2024.
- The economy is export-oriented, and has persistently registered trade and current account surpluses in recent years.
- In recent years economic activity has been buoyed by strong demand in key trading partner the U.S., as well as by a rapid rise in the population—from 2019 to 2024 the population rose around 10%, above the historical trend.
- The United States has held the spot for the highest ranking GDP since the 1980s.
- Brazil is the largest economy in South America and the world’s 8th largest economy.
Over the past three decades, Mexico has emerged as a manufacturing economy under a series of free trade agreements with the United States, Canada, and 50 other countries. Many major U.S. manufacturers have integrated supply chains with counterparts or operations in Mexico. Mexico supports a variety of exports, including consumer electronics, vehicles, and auto parts, as well as petroleum and agricultural products. Spain’s economy suffered severely during the Great Recession, with unemployment soaring above 25% and a rising national debt despite attempts at fiscal austerity. Though the economy is currently receiving a sizable boost from the disbursement of EU recovery funds, annual GDP growth is unlikely to top 1% this year or in the years that follow. Though services is the main economic sector, Germany also has a strong industrial base; the manufacturing sector is around twice as big as that of other G7 economies as a share of GDP.
Which Is the Fastest Growing Economy in the World?
The UK is the sixth-largest economy in the world, with a GDP of $3.958 trillion. The U.S. has the highest national debt of any country, with $32.9 trillion as of Oct. 15, 2025. Throughout this list and article, the term GDP refers to nominal GDP in current U.S. dollars reported by the International Monetary Fund (IMF) for 2025. Note that all of the economies on this list are measured in the U.S. dollar, which is the reserve currency of the world. The actual bank notes are produced by the Bureau of Engraving and Printing, then issues to Federal Reserve Banks around the country.
Argentina rounds out the top 25 global economies, according to the IMF’s October 2025 release. While more than half of Argentina’s GDP comes from the services sector, the country also has a strong base in agriculture, manufacturing, extraction, and construction. Over half of GDP comes from the services sector with a third coming from industry. The primary industries in Ireland are pharmaceuticals, chemicals, computer hardware and software, food products, beverages and brewing, and medical devices. Belgium is a trade and transport hub that has a diversified economy with a mix of service, manufacturing, and high-tech industries. Belgium faces a high public debt burden relative to its GDP, which can constitute an obstacle to growth.
- Japan’s most popular trading partners include the US, China, Australia, Thailand, and South Korea.
- GDP is most commonly measured by using the expenditure method, which calculates GDP by adding up spending on new consumer goods, new investment spending, government spending, and the value of net exports.
- Further down the list, Indonesia vaulted forward from the 27th largest economy in 2000 to the 17th as of October 2025.
- Ireland’s biggest exports are vaccines, packaged medicine, nitrogen compounds, integrated circuits, and scented mixtures.
China has the world’s second-largest nominal GDP in current dollars and the largest in terms of PPP. Its economy has seen historic growth in the last two decades, trading automation causing some economists to speculate that China may overtake the U.S. as the world’s largest economy in the future. The United States has a relatively open economy, facilitating flexible business investment and foreign direct investment in the country. It is the world’s dominant geopolitical power and can maintain a large external national debt as the producer of the world’s primary reserve currency. France, with the seventh-largest economy in the world, is also the biggest tourist destination in the world, so it’s no surprise that tourism is a major contributor to its GDP.
Richest Countries in Africa by GDP (2025 Rankings)
Brazilian exports largely revolve around food goods like soybeans, poultry meat, and raw sugar. Some of Brazil’s key trading partners are the US, Argentina, China, and the Netherlands. The top 10 economies in the world are ranked on their nominal GDP or GDP current prices, as per the reports released by the IMF (International Monetary Fund).
The Mittelstand—a dense web of medium-sized industrial enterprises—forms the backbone of this. The country benefits from a skilled workforce, prudent fiscal management and a favorable geographical position at the heart of Europe. Gross domestic product (GDP) is a key economic indicator used to assess a country’s economic growth. It represents the total monetary value of all final goods and services produced within a country’s borders. A higher GDP generally signifies a healthy and growing economy, while a lower GDP indicates economic challenges or weaknesses. South Korea’s economy is a 20th-century success story that is today firmly established as an advanced, industrial economy.
With the world’s largest population of approximately 1.43 billion, India has a huge domestic market, which provides a large consumer base for businesses. The main drivers of the Indian economy are the services, manufacturing, and agriculture sectors. India is growing at 6.8% annually and has been declared the fastest-growing economy in emerging markets by the International Monetary Fund (IMF). The Saudi economy is heavily based on oil, as the country is the world’s largest oil exporter. The UK economy is predominantly service-oriented, with insurance, finance and real estate as key contributors—particularly through the City of London, a major global financial hub.
Moreover, since Brexit, Paris has increased its status as a financial center; the European Banking Authority relocated to Paris, and the capital has created thousands of new financial-service jobs. India’s economy has a number of strengths, including a fast-growing and entrepreneurial population, a highly educated English-speaking workforce, a vast domestic market and political stability. That said, infrastructure gaps—particularly in rural areas—are a roadblock. Additionally, regulatory challenges and bureaucratic hurdles pose difficulties for businesses, and the country is still not able to guarantee quality universal education.
Biggest Economies in the World
The US population of approximately 342 million people plays a key role in its economic growth and development. Additionally, the US is home to diverse industries, a flexible labor market, and lots of international companies, making it the world’s strongest economy. It has transformed from an agricultural nation to a major industrial powerhouse and has grown from being the “world’s factory” to a leader in technology and innovation. Over the past few decades, rapid industrialization and economic reforms have propelled China to become the second-largest economy in the world. China is a key member of BRICS and actively participates in groups like the Shanghai Cooperation Organization (SCO).
The countries on this list have various populations, politics, trade agreements, and demographics, all of which play a factor in how their economies and, therefore, GDP perform. As countries take measures to reduce corruption, open their markets, and take advantage of their natural resources and new technologies, they can see their GDP grow. Russia has moved toward a more market-based economy over the 30 years since the collapse of the Soviet Union, but government ownership of and intervention in business is still common. As a leading exporter of oil and gas, as well as other minerals and metals, Russia’s economy is highly sensitive to swings in world commodity prices.
Other key sectors include creative industries, defense, higher education, motor vehicles and pharmaceuticals. A flexible labor market and well-performing education system are key strengths. India’s GDP is growing fast, having more than doubled in size over the last decade. Unlike many other Asian economies, India does not have a huge manufacturing sector, notwithstanding the government’s recent Make In India initiative.
As a result of its actions, the country was hit by many sanctions and other economic punishments, which greatly hurt its economy. France’s tourism industry is one of the largest in the world and since 1997, has received the most most visitors of any country each year. Rapid growth and modernization in the urban centers has seen uneven benefits to the society as a whole, even as the country’s elite strives to compete with other advanced economies. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world. Here’s a look at the top 10 countries with the highest GDP rankings, according to the International Monetary Fund.
