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The $100 Trillion Global Economy in One Chart

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Visualizing the $100 Trillion Global Economy in One Chart

Surpassing the $100 trillion mark is a new milestone for global economic output.

We’ve covered this topic in the past when the world’s GDP was $88 trillion (2020) and then $94 trillion (2021), and now according to the latest projections, the IMF expects the global economy to reach nearly $104 trillion in nominal value by the end of 2022.

Although growth keeps trending upwards, the recovery that was expected in the post-pandemic period is looking strained. Because of recent conflicts, supply chain bottlenecks, and subsequent inflation, global economic projections are getting revised downwards.

Global annual GDP growth for 2022 was initially projected to be 4.4% as of January, but this has since been adjusted to 3.6%.

Note: This data from the IMF represents the most recent nominal projections for end of year as of April 2022.

Gross Domestic Product (GDP) is a broad indicator of the economic activity within a country. It measures the total value of economic output—goods and services—produced within a given time frame by both the private and public sectors.

The Top 50 Countries

The United States is still the economic leader worldwide, with a GDP of $25.3 trillion—making up nearly one quarter of the global economy. China follows close behind at $19.9 trillion. Here’s a look at the top 50 countries in terms of GDP:

Rank Country GDP (current prices, USD)
#1 United States $25.3 trillion
#2 China $19.9 trillion
#3 Japan $4.9 trillion
#4 Germany $4.3 trillion
#5 United Kingdom $3.4 trillion
#6 India $3.3 trillion
#7 France $2.9 trillion
#8 Canada $2.2 trillion
#9 Italy $2.1 trillion
#10 Brazil $1.8 trillion
#11 Russia $1.8 trillion
#12 South Korea $1.8 trillion
#13 Australia $1.7 trillion
#14 Iran $1.7 trillion
#15 Spain $1.4 trillion
#16 Mexico $1.3 trillion
#17 Indonesia $1.3 trillion
#18 Saudi Arabia $1.0 trillion
#19 Netherlands $1.0 trillion
#20 Switzerland $842 billion
#21 Taiwan $841 billion
#22 Poland $700 billion
#23 Turkey $692 billion
#24 Sweden $621 billion
#25 Belgium $610 billion
#26 Argentina $564 billion
#27 Norway $542 billion
#28 Thailand $522 billion
#29 Israel $521 billion
#30 Ireland $516 billion
#31 Nigeria $511 billion
#32 United Arab Emirates $501 billion
#33 Austria $480 billion
#34 Malaysia $439 billion
#35 Egypt $436 billion
#36 South Africa $426 billion
#37 Singapore $424 billion
#38 Philippines $412 billion
#39 Vietnam $409 billion
#40 Denmark $399 billion
#41 Bangladesh $397 billion
#42 Hong Kong SAR $369 billion
#43 Colombia $351 billion
#44 Chile $318 billion
#45 Finland $298 billion
#46 Iraq $297 billion
#47 Czechia $296 billion
#48 Romania $287 billion
#49 New Zealand $257 billion
#50 Portugal $252 billion

The frontrunner in Europe is Germany at $4.3 trillion, with the UK coming in second place. One significant change since the last reported figures is that Brazil now cracks the top 10, having surpassed South Korea. Russia falls just outside, in 11th place, with a GDP of $1.8 trillion.

While China’s GDP growth has slowed in recent years, projections still indicate that the country will overtake the U.S. by 2030, dethroning the world’s economic leader.

One region also expected to experience growth in the near future is the Middle East and North Africa, thanks to higher oil prices—Iraq and Saudi Arabia in particular are leading this charge. Regional GDP growth in the area is expected to be around 5% in 2022.

The Bottom 50 Countries

Some of the world’s smallest economies were hit particularly hard by the pandemic, and have subsequently been the most affected by the inflation and food supply shortages resulting from the war in Ukraine.

Here’s a look at the countries worldwide with the lowest GDP in 2022:

Rank Country GDP (current prices, USD)
#191 Tuvalu $66 million
#190 Nauru $134 million
#189 Kiribati $216 million
#188 Palau $244 million
#187 Marshall Islands $267 million
#186 Micronesia $427 million
#185 São Tomé and Príncipe $1 billion
#184 Tonga $1 billion
#183 Dominica $1 billion
#182 Samoa $1 billion
#181 Saint Vincent and the Grenadines $1 billion
#180 Vanuatu $1 billion
#179 Saint Kitts and Nevis $1 billion
#178 Grenada $1 billion
#177 Comoros $1 billion
#176 Antigua and Barbuda $2 billion
#175 Guinea-Bissau $2 billion
#174 Solomon Islands $2 billion
#173 San Marino $2 billion
#172 Seychelles $2 billion
#171 Timor-Leste $2 billion
#170 Belize $2 billion
#169 Cabo Verde $2 billion
#168 Saint Lucia $2 billion
#167 The Gambia $2 billion
#166 Lesotho $3 billion
#165 Eritrea $3 billion
#164 Central African Republic $3 billion
#163 Bhutan $3 billion
#162 Suriname $3 billion
#161 Aruba $3 billion
#160 Andorra $3 billion
#159 Burundi $3 billion
#158 Liberia $4 billion
#157 Djibouti $4 billion
#156 Sierra Leone $4 billion
#155 Eswatini $5 billion
#154 Fiji $5 billion
#153 Maldives $6 billion
#152 Barbados $6 billion
#151 South Sudan $6 billion
#150 Montenegro $6 billion
#149 Tajikistan $8 billion
#148 Somalia $8 billion
#147 Togo $9 billion
#146 Kyrgyzstan $9 billion
#145 Mauritania $9 billion
#144 Kosovo $10 billion
#143 Mauritius $11 billion
#142 Malawi $12 billion

The smallest economy in the world measured in the IMF rankings is Tuvalu at $66 million. Most of the bottom 50 are considered low- to middle-income and emerging/developing countries. According to the World Bank, in developing countries, the level of per capita income in 2022 will be about 5% below the pre-pandemic trends.

Some countries are actually projected to experience negative GDP growth this year, particularly emerging and developing economies in Europe.

For example, Russia is expected to experience a GDP growth rate of -8.5% in 2022, though it still remains to be seen how the cost of war and increasingly harsh global sanctions impact the country’s economic prospects.

Inflation, Stagflation, Recession – How Bad is it?

While global economic growth has already been revised downwards, it’s possible the situation could be even more serious. Organizations like the World Bank say that risks of stagflation are rising. Stagflation, which hasn’t occurred since the 1970s, is defined as an economy that’s experiencing rising inflation combined with a stagnant economic output.

Currently, global consumer inflation is currently pegged at 7%. Daily goods are becoming increasingly difficult to purchase and interest rates are on the rise as central banks worldwide try to control the situation. As recent events in Sri Lanka demonstrate, low-income countries are particularly at risk to economic volatility.

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