Gross Domestic Product (GDP) Comparison
This is a comparison of GDP between random countries. This is not intended to be a comprehensive list but more of a comparison of a few countries. The data is according to nominal GDP standards rather than PPP.
The top 10 Nominal GDP Rankings by Country
According to the International Monetary Fund, these are the highest ranking countries in the world in nominal GDP:
United States (GDP: 21.44 trillion)
China (GDP: 14.1 trillion)
Japan: (GDP: 5.15 trillion)
Germany: (GDP: 3.86 trillion)
India: (GDP: 2.93 trillion)
United Kingdom: (GDP: 2.74 trillion)
France: (GDP: 2.78 trillion)
Italy: (GDP: 1.9 trillion)
Brazil: (GDP: 1.84 trillion)
Canada: (GDP: 1.73 trillion)
To compare GDPs around the world, currencies must be converted so that they’re consistent across all countries. There are two main systems of common currency conversion: nominal and PPP. These two approaches to GDP estimation have separate strengths and are generally used for different reasons.
Nominal GDP is useful for large-scope GDP comparison, either for a country or region, or on an international scale. The nominal GDP of an area is determined using up-to-date market prices and shifts according to inflation. By incorporating an area’s inflation rate in the GDP calculation, nominal GDP can indicate when prices rise in an economy. The rate of price increases in an economy are also factored into nominal GDP.
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Source:
https://en.wikipedia.org/wiki/List_of...)
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