Edition: International | Greek

Home » Business

The world’s 10 biggest economies in 2017

The economy of the United States is the largest in the world. At $18 trillion, it represents a quarter share of the global economy (24.3%), according to the latest World Bank figures

By: EBR - Posted: Friday, March 17, 2017

text size [–] [+]
The Asian bloc clearly has a larger share than anywhere else, representing just over a third (33.84%) of global GDP. That’s compared to North America, which represents just over a quarter, at 27.95%.
The Asian bloc clearly has a larger share than anywhere else, representing just over a third (33.84%) of global GDP. That’s compared to North America, which represents just over a quarter, at 27.95%.

MORE ON Business

by Alex Gray*

China follows, with $11 trillion, or 14.8% of the world economy. Japan is in third place with an economy of $4.4 trillion, which represents almost 6% of the world economy.

European countries take the next three places on the list: Germany in fourth position, with a $3.3 trillion economy; the United Kingdom in fifth with $2.9 trillion; and France in sixth with $2.4 trillion.

India is in seventh place with $2 trillion, and Italy in eighth with an economy of over $1.8 trillion.

Ninth place goes to Brazil, with an almost $1.8 trillion economy.

And in 10th is Canada, with an economy of over $1.5 trillion.

The economy of the United States is larger than the combined economies of numbers three to 10 on the list.

Fastest-growing economy

The US may not dominate for much longer, however.

Although China trails the US by $7 trillion, it’s catching up. China’s economy grew by 6.7% in 2016, compared with America’s 1.6%, according to the IMF.

China has also overtaken India as the fastest-growing large economy. The IMF’s World Economic Outlook estimated China’s economy grew at 6.7% in 2016, compared with India’s 6.6%.

Brazil’s economy has contracted in the last year by 3.5%, the only one in the top 10 to do so.

The chart above shows the world’s 40 biggest economies individually, but grouped by colour into continents.

The Asian bloc clearly has a larger share than anywhere else, representing just over a third (33.84%) of global GDP. That’s compared to North America, which represents just over a quarter, at 27.95%.

Europe comes third with just over one-fifth of global GDP (21.37%).

Together, these three blocs generate more than four-fifths (83.16%) of the world’s total output.

The biggest economies in 2050

A new study by PricewaterhouseCooper says that China will be in first place by 2050, because emerging economies will continue to grow faster than advanced ones.

India will rank second, the US will be third, and fourth place is expected to go to Indonesia.

The UK could be down to 10th place by 2050, while France could be out of the top 10 and Italy out of the top 20 as they are overtaken by faster-growing emerging economies such as Mexico, Turkey and Vietnam.

The report also says that the world economy could more than double in size by 2050, far outstripping population growth, due to technology-driven productivity.

*Formative Content
*First published in www.weforum.org

Europe

Social Democrats sign up to new Merkel-led German government

Germany’s Social Democrats (SPD) decisively backed another coalition with Chancellor Angela Merkel’s conservatives on Sunday (4 March), clearing the way for a new government in Europe’s largest economy after months of political uncertainty

Business

These are the most popular business schools with employers

Higher education group QS has released its annual guide to the best universities in the world, including breakdowns for the leading institutions by subject

Editor’s Column

Macron’s trick and Merkel’s weakness

By: N. Peter Kramer

The French president Emmanuel Macron has lost his popularity. France is striking again. Macron profiled himself as the leader of a revolution against "a caste of privileged top officials of the French state."

MARKET INDICES


Live World Indices are Powered by Forexpros - The Leading Financial Portal.

Magazine

View 1/2018 2018 Digital edition

Current Issue

1/2018 2018

View past issues
Subscribe
Advertise
Digital edition

All contents © Copyright EMG Strategic Consulting Ltd. 1997-2018. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron