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Top Heavy: Countries by Share of the Global Economy

Countries by Share of the Global Economy

As 2022 comes to a close we can recap many historic milestones of the year, like the Earth’s population hitting 8 billion and the global economy surpassing $100 trillion.

In this chart, we visualize the world’s GDP using data from the IMF, showcasing the biggest economies and the share of global economic activity that they make up.

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 GDP Heavyweights

The global economy can be thought of as a pie, with the size of each slice representing the share of global GDP contributed by each country. Currently, the largest slices of the pie are held by the United States, China, Japan, Germany, and India, which together account for more than half of global GDP.

Here’s a look at every country’s share of the world’s $101.6 trillion economy:

Rank Country GDP (Billions, USD)
#1 United States $25,035.2
#2 China $18,321.2
#3 Japan $4,300.6
#4 Germany $4,031.1
#5 India $3,468.6
#6 United Kingdom $3,198.5
#7 France $2,778.1
#8 Canada $2,200.4
#9 Russia $2,133.1
#10 Italy $1,997.0
#11 Iran $1,973.7
#12 Brazil $1,894.7
#13 South Korea $1,734.2
#14 Australia $1,724.8
#15 Mexico $1,424.5
#16 Spain $1,389.9
#17 Indonesia $1,289.4
#18 Saudi Arabia $1,010.6
#19 Netherlands $990.6
#20 Turkey $853.5
#21 Taiwan $828.7
#22 Switzerland $807.4
#23 Poland $716.3
#24 Argentina $630.7
#25 Sweden $603.9
#26 Belgium $589.5
#27 Thailand $534.8
#28 Israel $527.2
#29 Ireland $519.8
#30 Norway $504.7
#31 Nigeria $504.2
#32 United Arab Emirates $503.9
#33 Egypt $469.1
#34 Austria $468.0
#35 Bangladesh $460.8
#36 Malaysia $434.1
#37 Singapore $423.6
#38 Vietnam $413.8
#39 South Africa $411.5
#40 Philippines $401.7
#41 Denmark $386.7
#42 Pakistan $376.5
#43 Hong Kong SAR $368.4
#44 Colombia $342.9
#45 Chile $310.9
#46 Romania $299.9
#47 Czech Republic $295.6
#48 Iraq $282.9
#49 Finland $281.4
#50 Portugal $255.9
#51 New Zealand $242.7
#52 Peru $239.3
#53 Kazakhstan $224.3
#54 Greece $222.0
#55 Qatar $221.4
#56 Algeria $187.2
#57 Hungary $184.7
#58 Kuwait $183.6
#59 Morocco $142.9
#60 Angola $124.8
#61 Puerto Rico $118.7
#62 Ecuador $115.5
#63 Kenya $114.9
#64 Slovakia $112.4
#65 Dominican Republic $112.4
#66 Ethiopia $111.2
#67 Oman $109.0
#68 Guatemala $91.3
#69  Bulgaria $85.0
#70 Luxembourg $82.2
#71 Venezuela $82.1
#72 Belarus $79.7
#73 Uzbekistan $79.1
#74 Tanzania $76.6
#75 Ghana $76.0
#76 Turkmenistan $74.4
#77 Sri Lanka $73.7
#78 Uruguay $71.2
#79 Panama $71.1
#80 Azerbaijan $70.1
#81 Croatia $69.4
#82 Côte d'Ivoire $68.6
#83 Costa Rica $68.5
#84 Lithuania $68.0
#85 Democratic Republic of the Congo $63.9
#86 Serbia $62.7
#87 Slovenia $62.2
#88 Myanmar $59.5
#89 Uganda $48.4
#90 Jordan $48.1
#91 Tunisia $46.3
#92 Cameroon $44.2
#93 Bahrain $43.5
#94 Bolivia $43.4
#95 Sudan $42.8
#96 Paraguay $41.9
#97 Libya $40.8
#98 Latvia $40.6
#99 Estonia $39.1
#100 Nepal $39.0
#101 Zimbabwe $38.3
#102 El Salvador $32.0
#103 Papua New Guinea $31.4
#104 Honduras $30.6
#105 Trinidad and Tobago $29.3
#106 Cambodia $28.3
#107 Iceland $27.7
#108 Yemen $27.6
#109 Senegal $27.5
#110 Zambia $27.0
#111 Cyprus $26.7
#112 Georgia $25.2
#113 Bosnia and Herzegovina $23.7
#114 Macao SAR $23.4
#115 Gabon $22.2
#116 Haiti $20.2
#117 Guinea $19.7
#118 West Bank and Gaza $18.8
#119 Brunei $18.5
#120 Mali $18.4
#121 Burkina Faso $18.3
#122 Albania $18.3
#123 Botswana $18.0
#124 Mozambique $17.9
#125 Armenia $17.7
#126 Benin $17.5
#127 Malta $17.2
#128 Equatorial Guinea $16.9
#129 Laos $16.3
#130 Jamaica $16.1
#131 Mongolia $15.7
#132 Nicaragua $15.7
#133 Madagascar $15.1
#134 Guyana $14.8
#135 Niger $14.6
#136 Republic of Congo $14.5
#137 North Macedonia $14.1
#138 Moldova $14.0
#139 Chad $12.9
#140 The Bahamas $12.7
#141 Namibia $12.5
#142 Rwanda $12.1
#143 Malawi $11.6
#144 Mauritius $11.5
#145 Mauritania $10.1
#146 Tajikistan $10.0
#147 Kyrgyzstan $9.8
#148 Kosovo $9.2
#149 Somalia $8.4
#150 Togo $8.4
#151 Montenegro $6.1
#152 Maldives $5.9
#153 Barbados $5.8
#154 Fiji $4.9
#155 South Sudan $4.8
#156 Eswatini $4.7
#157 Sierra Leone $4.1
#158 Liberia $3.9
#159 Djibouti $3.7
#160 Burundi $3.7
#161 Aruba $3.5
#162 Andorra $3.3
#163 Suriname $3.0
#164 Bhutan $2.7
#165 Belize $2.7
#166 Lesotho $2.5
#167 Central African Republic $2.5
#168 Timor-Leste $2.4
#169 Eritrea $2.4
#170 The Gambia $2.1
#171 Cabo Verde $2.1
#172 Seychelles $2.0
#173 St. Lucia $2.0
#174 Antigua and Barbuda $1.7
#175 Guinea-Bissau $1.6
#176 San Marino $1.6
#177 Solomon Islands $1.6
#178 Comoros $1.2
#179 Grenada $1.2
#180 St. Kitts and Nevis $1.1
#181 Vanuatu $1.0
#182 St. Vincent and the Grenadines $1.0
#183 Samoa $0.83
#184 Dominica $0.60
#185 São Tomé and Príncipe $0.51
#186 Tonga $0.50
#187 Micronesia $0.43
#188 Marshall Islands $0.27
#189 Palau $0.23
#190 Kiribati $0.21
#191 Nauru $0.13
#192 Tuvalu $0.06
Total World GDP $101,559.3

Just five countries make up more than half of the world’s entire GDP in 2022: the U.S., China, Japan, India, and Germany. Interestingly, India replaced the UK this year as a top five economy.

Adding on another five countries (the top 10) makes up 66% of the global economy, and the top 25 countries comprise 84% of global GDP.

The World’s Smallest Economies

The rest of the world — the remaining 167 nations — make up 16% of global GDP. Many of the smallest economies are islands located in Oceania.

Here’s a look at the 20 smallest economies in the world:

Country GDP (Billions, USD)
Tuvalu $0.06
Nauru $0.13
Kiribati $0.21
Palau $0.23
Marshall Islands $0.27
Micronesia $0.43
Tonga $0.50
São Tomé and Príncipe $0.51
Dominica $0.60
Samoa $0.83
St. Vincent and the Grenadines $0.95
Vanuatu $0.98
St. Kitts and Nevis $1.12
Grenada $1.19
Comoros $1.24
Solomon Islands $1.60
San Marino $1.62
Guinea-Bissau $1.62
Antigua and Barbuda $1.69
St. Lucia $1.97

Tuvalu has the smallest GDP of any country at just $64 million. Tuvalu is one of a dozen nations with a GDP of less than one billion dollars.

The Global Economy in 2023

Heading into 2023, there is much economic uncertainty. Many experts are anticipating a brief recession, although opinions differ on the definition of “brief”.

Some experts believe that China will buck the trend of economic downturn. If this prediction comes true, the country could own an even larger slice of the global GDP pie in the near future.

Speaking of predictions, we’re creating the ultimate cheatsheet for 2023.
See what hundreds of experts are predicting for 2023 with our Global Forecast Series.

The post Top Heavy: Countries by Share of the Global Economy appeared first on Visual Capitalist.

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Global Forecast Series