GDP, orGross Domestic Product, is thetotal monetary value of all goods and services produced and soldwithin a country during a specific time period, typically one year.
Below is a Chart and list of countries’ GDP, ranked according to the economic activity of each country. The United States has the world’s largest economy, measured by nominal GDP, followed by China, the second largest, with annual growth consistently outpacing that of the United States. It may take only a few more years for China to claim the top position. However, it faces significant challenges such as an aging population, environmental degradation, and the impact of the Wuhan virus. Other major contributors to global GDP include Japan, Germany, the United Kingdom, India, and France.
Chart: GDP by Country 2024 (nominal) – IMF estimates for 2022-2028.