Visualizing the $94 Trillion World Economy in One Chart
Visualizing the $94 Trillion World Economy in One Chart
Just four countries—the U.S., China, Japan, and Germany—make up over half of the world’s economic output by gross domestic product (GDP) in nominal terms. In fact, the GDP of the U.S. alone is greater than the combined GDP of 170 countries.
How do the different economies of the world compare? In this visualization we look at GDP by country in 2021, using data and estimates from the International Monetary Fund (IMF).
An Overview of GDP
GDP serves as a broad indicator for a country’s economic output. It measures the total market value of final goods and services produced in a country in a specific timeframe, such as a quarter or year. In addition, GDP also takes into consideration the output of services provided by the government, such as money spent on defense, healthcare, or education.
Generally speaking, when GDP is increasing in a country, it is a sign of greater economic activity that benefits workers and businesses (while the reverse is true for a decline).
The World Economy: Top 50 Countries
Who are the biggest contributors to the global economy? Here is the ranking of the 50 largest countries by GDP in 2021:
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|
Rank |
Country |
GDP ($T) |
% of Global GDP |
|
1 |
U.S. |
$22.9 |
24.4% |
|
2 |
China |
$16.9 |
17.9% |
|
3 |
Japan |
$5.1 |
5.4% |
|
4 |
Germany |
$4.2 |
4.5% |
|
5 |
UK |
$3.1 |
3.3% |
|
6 |
India |
$2.9 |
3.1% |
|
7 |
France |
$2.9 |
3.1% |
|
8 |
Italy |
$2.1 |
2.3% |
|
|
|
