Evaluating the Size of Economy and Ranking
The top 10 countries of the world by their economy size are ranked on the basis of their Gross Domestic Product(GDP). IMF (International Monetary Fund) releases the data about countries and their economic statistics like GDP, Per Capita Income and Growth rate.
GDP is calculated by valuing goods and services produced within a nation in a year. It is a key indicator of a country’s economic strength and can influence global markets and global economic policies.
Top 10 World’s Largest Economies by Nominal GDP in 2024
As of 2023, the United States maintains its position as the world’s largest economy, with a Gross Domestic Product (GDP) of approximately $26.954 trillion. Following the United States, China holds the second spot with a GDP of about $17.786 trillion.
In this article, we will learn about the current ranking of the world’s top 10 biggest economies in 2024 in detail, their GDP and per capita income, and how the list of these highest-ranking countries is prepared.
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