What is GDP and How is it Calculated?
Gross domestic product (GDP) measures the total market value of all commodities and services produced during a specified period. It is an indicator of economic health, often adjusted for inflation to depict national wealth accurately.
The United States has the world’s largest economy with a nominal GDP of over $26 trillion, followed by China with a growing emphasis on manufacturing and investment, India, another top 10 economy, and expanding middle classes with significant consumption bases.
United States, China, Japan, Germany, India, United Kingdom, France, Italy, Canada, and Brazil are the ten largest economies by GDP. These nations are major economic powerhouses that play an integral role in global trade and commerce; their economies benefit from strong global connections, talented workforces, and cutting-edge technologies, and they all share exemplary work ethics that have set global standards for the quality of their products and services.
World Economy Ranking 2023
Rank & Country GDP (USD billion) GDP Per Capita (USD thousand)
#1 United States Of America (U.S.A) 26,954 80.41
#2 China 17,786 12.54
#3 Japan 4,231 33.95
#4 Germany 4,430 52.82
#5 India 3,730 2.61
#6 United Kingdom (U.K.) 3,332 48.91
#7 France 3,052 46.32
#8 Italy 2,190 37.15
#9 Brazil 2,132 10.41
#10 Canada 2,122 53.25