World Economy Ranking 2024- Get the Most recent data about World Economy Ranking, Biggest Economy Nations in 2024, Top 10 world biggest Economy. India’s long history explains why it is one of the world’s top five economies today. Learn about the Indian economy’s rise from tenth to fifth place in this account.
World Economy Ranking 2024
If you want comprehensive information about the World Economy Ranking. We will learn about the World GDP Ranking in this article. India’s 5.8% annual growth rate makes it the world’s fastest-growing major economy this year, according to the United Nations, while the rest of the world’s growth rate is only 1.9 percent.
2024 Discussion on Ranking of World Economy
The World Economy Ranking of India for the year 2024 is the topic of this discussion. India has recently surpassed the United Kingdom to become the fifth largest economy in the world. India’s economy is now larger than that of China, Germany, the United States, and Japan.
World Economy Ranking 2024 Details
| Post Title | World Economy Ranking 2024 |
| Category | Trending |
| Organization | International Monetary Fund |
| Released by | IMF |
| Year | 2024 |
| World Economy 2024 | $105 Trillion |
| Official website | imf.org |
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World Economy History
The history of the world economy is a vast and complex subject that encompasses the economic development of different regions and periods. From the agrarian societies of ancient civilizations to the industrial revolution in Europe and North America, to the rise of globalization and free trade in the modern era, the world economy has undergone significant transformations over time. Understanding this history can help us gain insights into current economic issues and challenges facing nations and individuals around the globe.
World Top 10 Richest Countries
The World Economy Ranking following is a list of the ten richest countries in the world (World Economy Ranking 2024 Top 10 countries) based on data from the International Monetary Fund and Visual Capitalist for October 2022.
World Economy Ranking 2024 List
- America, US$ 25.035 trillion
- China, US$ 18.321 trillion
- Japan, US$ 4.301 trillion
- Germany, US$ 4.031 trillion
- India, US$ 3.469 trillion
- UK, US$ 3.199 trillion
- France, US$ 2.778 trillion
- Canada, US$ 2.2 trillion
- Russia, US$ 2.113 trillion
- Italy, US $ 1.99 trillion
World Largest Economy Countries
The world economy ranking for 2024 is eagerly awaited by many countries. The largest economies in 2024 are projected to be the United States, China, Japan, Germany, and India. India has come a long way from being ranked tenth to now being considered one of the top five economies globally.
Indian economy’s growth Challenges
The Indian economy’s growth over recent years can be attributed to several factors such as increased foreign investment, government initiatives, and a growing middle class. Despite facing challenges like inflation and unemployment, India’s economic growth trajectory looks promising and is expected to continue its upward trend in the coming years.
World Economy Countries GDP Ranking 2024
World Economy Ranking India Recently Changes
World Top 10 Economy Countries List
- America, US$ 25.035 trillion
- China, US$ 18.321 trillion
- Japan, US$ 4.301 trillion
- Germany, US$ 4.031 trillion
- India, US$ 3.469 trillion
- UK, US$ 3.199 trillion
- France, US$ 2.778 trillion
- Canada, US$ 2.2 trillion
- Russia, US$ 2.113 trillion
- Italy, US $ 1.99 trillion
World Economy Trillion GDP 2024 Ranking
According to the International Monetary Fund (IMF), the World Economy Ranking 2024 is expected to surpass a Gross Domestic Product (GDP) of $105 trillion by the end of this year.
Global Economy Calculations
This estimate is based on calculations from the previous year’s world economy. As the global economy continues to grow and evolve, it’s important for businesses and individuals to stay informed about these trends and prepare accordingly.
Grow Thing Factors GDP
This growth in GDP can be influenced by several factors, including government policies, technological advancements, and international trade agreements. Keeping track of these economic indicators can help inform decision-making processes and ensure long-term success.
World Economy Country Wise Ranking Via IMF
The International Monetary Fund states that the world’s three largest economies, in terms of nominal GDP, are the United States, China, and Japan. India is expected to have a growth rate of 6.1% for the financial year 2024.
India’s ranking in world GDP for 2024
(India’s ranking in world GDP for 2024), which is slightly lower than other global economies but higher than the global average. In 2024, India will account for approximately 15% of global economic growth.
World Economy Ranking 2024 Top 10
The World Economy Ranking 2024 top 10 below and also These countries are expected to have the largest economies in the world in terms of GDP (Gross Domestic Product) according to projections made by various international organizations. However, it’s important to note that economic rankings can change over time due to various factors such as political instability or global events.
The United States
it has a nominal GDP of $21.44 trillion and ranks first among the world’s largest economies and second in the world for the estimated value of natural resources.
China
China is the world’s second largest economy with a nominal GDP of $14.14 trillion and a GDP (PPP) of $27.31 trillion.
Japan
Japan is the world’s third largest economy with a GDP of $5.15 trillion and a GDP (PPP) of $5.75 trillion
Germany
has a GDP of $4.0 trillion and a per capita GDP of $46,560, Germany is the fourth largest economy in the world.
India
The Indian economy is projected to emerge as the world’s fifth largest economy with a GDP of $3.5 trillion in 2022.
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United Kingdom
The United Kingdom, with a GDP of $2.83 trillion, is the sixth largest economy in the world. The UK is expected to become the seventh largest economy by 2024.
France
With a nominal GDP of $2.71 trillion and a per capita GDP of $42,877.56, France is the third-largest economy in Europe and the seventh largest in the world.
Italy
With a nominal GDP of $1.99 trillion, Italy is the eighth largest economy in the world. Italy has an economy of $2.40 trillion and a per capita GDP of $34,260.34.
Brazil
Brazil is the ninth largest economy in the world and the largest and most populous country in Latin America with a nominal GDP of $1.85 trillion.
Canada
With a GDP of $1.73 trillion and a GDP per capita of $46,260.71, Canada is the tenth largest economy in the world. Canada’s GDP is expected to grow to $2.13 trillion by 2024.
World Economy GDP Rank & Country
| Rank & Country | GDP (USD billion) | GDP Per Capita (USD thousand) |
|---|---|---|
| #1 United States Of America (U.S.A) | 26,854 | 80.03 |
| #2 China | 19,374 | 13.72 |
| #3 Japan | 4,410 | 35.39 |
| #4 Germany | 4,309 | 51.38 |
| #5 India | 3,750 | 2.6 |
| #6 United Kingdom (U.K.) | 3,159 | 46.31 |
| #7 France | 2,924 | 44.41 |
| #8 Italy | 2,170 | 36.81 |
| #9 Canada | 2,090 | 52.72 |
| #10 Brazil | 2,080 | 9.67 |
World Economy GDP Next Countries
| Rank & Country | GDP (USD billion) |
|---|---|
| #11 Russia | 2,060 |
| #12 South Korea | 1,720 |
| #13 Australia | 1,710 |
| #14 Mexico | 1,660 |
| #15 Spain | 1,490 |
| #16 Indonesia | 1,390 |
| #17 Netherlands | 1,080 |
| #18 Saudi Arabia | 1,060 |
| #19 Turkiye | 1,030 |
| #20 Switzerland | 869.6 |
Main Source of Economy in Asia
China is the largest economy in Asia, with a nominal GDP of over $19,374 billion as of 2024. Japan and India closely follow China in the GDP rankings within the continent. While China’s economy has seen steady growth over the years, Japan’s economy has struggled with long-term deflation and low growth rates. Meanwhile, India’s economy has shown promising signs of growth in recent years, driven by various economic reforms and policies. Despite these differences, all three countries play vital roles in shaping the economic landscape of Asia and the world.
Very Poor Countries According to World Economy
- Burundi – $308
- Sierra Leone – $472
- Malawi – $483
- The Central African Republic – $516
- Madagascar – $540
- Somalia – $562
- South Sudan – $570
- Niger – $574
- Mozambique – $579
- Eritrea – $700
World Economy Ranking 2024 in Trillion
Gross Domestic Product (World GDP 2024 Ranking) will have reached 105 trillion dollars by the end of this year, according to the World Economy Ranking 2024. This Gross domestic product is determined based on earlier year World Economy by the Global Money related Asset (IMF).
World Economy Ranking 2024 IMF
As measured by nominal GDP, the United States, China, and Japan are the three largest economies in the world, according to the International Monetary Fund. According to the World Economy Ranking 2024 India, India’s growth rate for the fiscal year 2024-24 is anticipated to be 6.1%, which is higher than the global average but slightly lower than that of the rest of the world’s economies. India will contribute approximately 15% to global growth in 2024.
World Economy Ranking 2024 Top 30
- United States of America
- China
- Japan
- Germany
- India
- United Kingdom
- France
- Italy
- Canada
- Brazil
- Russia
- South Korea
- Australia
- Mexico
- Spain
- Indonesia
- Netherland
- Saudi Arabia19. Turkey
- Switzerland
- Taiwan
- Poland
- Argentina
- Belgium
- Sweden
- Ireland
- Thailand
- Norway
- Israel
- Singapore
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GDP OF World Economy Country Wise
United States Diverse Economy & Important sectors
The United States has maintained its position as the world’s leading economy and wealthiest nation for more than six decades, from 2024. The country’s diverse economy is driven by important sectors such as services, manufacturing, finance, and technology.
Vast OF US by Innovation and Entrepreneurship
A vast consumer market, a culture of innovation and entrepreneurship, robust infrastructure, and favorable business conditions, the United States continues to be an attractive destination for businesses worldwide. The country’s resilience in the face of economic challenges and its ability to adapt to changing global trends have contributed significantly to its continued success.
Japan’s Economy Growth Factors
Japan’s economy is renowned for its advanced technology, strong manufacturing industry, and thriving service sector. The country excels in several sectors, including automotive, electronics, machinery, and finance. Japan is also known for its exceptional work ethic and pioneering technological advancements. Its exports are of superior quality and garner recognition worldwide.
Japan’s Government’s Support in Economy Growth
The country’s economy has been able to thrive due to the government’s support of innovation and its commitment to improving infrastructure. Additionally, Japan places a strong emphasis on education and research, resulting in a highly skilled workforce that is sought after by companies around the world.
Germany Main Economy Factors
The German economy is widely recognized for its emphasis on exports and precision engineering, particularly in the automotive, chemical, and pharmaceutical sectors. This success is rooted in a highly skilled labor force, strong research and development programs, and a dedication to fostering innovation.
Germany International Trade Affect on World Economy
Additionally, Germany has a well-developed infrastructure that facilitates international trade, making it an attractive destination for foreign investors. The country’s commitment to sustainability and renewable energy is also reflected in its economic policies, with initiatives aimed at reducing carbon emissions and promoting eco-friendly practices. Overall, the German economy’s focus on quality, efficiency, and innovation continues to drive growth and competitiveness in global markets.
l
China Economic Growth & Development
Over the past few decades, China has experienced a significant rise in its economic growth and development. From being the fourth-largest economy in 1960, it has now secured the second rank in the world economy in 2024. This remarkable achievement can largely be attributed to China’s focus on manufacturing, exports, and investment. China boasts of having an extensive workforce, which is backed by a robust government infrastructure and an expeditiously expanding consumer market.
China Success Reason in International Market
This favorable ecosystem, China has been successful in attracting foreign investment and generating employment opportunities for its citizens. Moreover, China’s economic progress is also driven by its technological advancements and innovations. The country has made significant strides in areas such as artificial intelligence (AI), robotics, and biotechnology. These developments are expected to further fuel China’s economic growth and enhance its competitiveness on a global scale.
Impressive Accomplishments Of China
However, despite its impressive accomplishments in recent years, China still faces several challenges such as income inequality, environmental concerns, and geopolitical tensions with other nations. Nevertheless, with its strong leadership and strategic vision for the future, China is well-positioned to tackle these challenges and continue on its path of economic prosperity.
World Economy Ranking 2024 FAQ’S
Is India 3rd largest economy?
With 3.7 trillion, India is currently the fifth largest economy after the US (26.8 trillion), China (19.3), Japan (4.4), and Germany (4.3). The economic growth in the US, Germany, and Japan has slowed down, with projections ranging from 1 to 1.4 per cent for 2024.
What is the world GDP ranking of India in 2024?
India occupies the fifth position on the list of the World GDP Ranking 2024. The United States of America, China, Japan, Germany, and other prominent nations, be prominently represented on this GDP Ranking list.
In 2024, how big is the global economy?
The World’s GDP is 112.6 trillion in 2024 as against 103.86 trillion as on 2024, list shows historical, present and future values for all the countries from 2020 to 2026.
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