Global economy

TOP 5 largest economies in the world

Posted on June 5, 2014 | in World Economy | by
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China was recognized as the world’s second-largest economy after the United States.

1. USA – GDP $17.5 trillion

The USA has secured its status as the world’s most powerful economy, a position it is predicted to hold for the next decade.

For at least almost a century now, the United States has consistently ranked as the biggest national economy in the world.

It is also one of the wealthiest nations in the world, with a well-developed infrastructure system, high productivity, and plenty of natural resources. A third of the world’s millionaires and 40 percent of the billionaires around the world consider the United States of America as their home.

 

2. China – GDP $10.0 trillion

Over the last 30 years, China has rapidly shifted from a centrally planned economic system to a market-oriented model—and in the process becoming an important player in world economy. It is now regarded as the fastest-growing economy as well as the largest exporter in the world. Last year, it became the second biggest economy in the world next to the United States of America.

If current trends continue, some experts argue that China can become the largest economy in the world until 2030.

 

3. Japan – GDP $ 4.8 trillion

Japan is one of the most technologically advanced economies in the world with its major contributions in the electronic and industrial sectors.

Japan is predicted to remain the world’s third largest economy in 2022.

 

4. Germany – GDP $3.9 trillion

Germany regarded as Europe’s largest national economy and it is considered as having the fourth biggest economy in 2013, according to the World Economic Outlook and IMF.

However, it is anticipated to slip back to 6th place by 2022 as Asian countries make a bigger impact on the world economy.

 

5. France – GDP $2.9 trillion

One of Europe’s economic powers, France has the largest economy in the Europe next to Germany and the fifth biggest economy in the world according to 2013 estimates.

France has more than 30 of the world’s 500 biggest companies and is regarded as the most important headquarter locations for many of the Fortune Global 500 companies.

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