Markets

Top Heavy: Countries by Share of the Global Economy

Published

1 year ago

December 29, 2022

Avery Koop

countries by share of the global economy in 2022

Can I share this graphic?
Yes. Visualizations are free to share and post in their original form across the web—even for publishers. Please link back to this page and attribute Visual Capitalist.

When do I need a license?
Licenses are required for some commercial uses, translations, or layout modifications. You can even whitelabel our visualizations. Explore your options.

Interested in this piece?
Click here to license this visualization.

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.

ℹ️ 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
#193	🇺🇦 Ukraine	Data not available
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.

Where does this data come from?

Source: IMF (International Monetary Fund)

Data note: Due to conflict and other issues, some countries are not included in this data set (e.g. Ukraine, Syria, Afghanistan). Major sources for GDP data differ widely on the size of Iran’s economy. It’s worth noting that this data from IMF ranks Iran’s GDP much higher than World Bank or the UN.

Related Topics:GDP GDP growth china gdp global gdp world gdp u.s. gdp germany gdp

Up Next

U.S. Inflation: How Much Have Prices Increased?

Don't Miss

Ranked: The 100 Biggest Public Companies in the World

Click for Comments

Economy

Economic Growth Forecasts for G7 and BRICS Countries in 2024

The IMF has released its economic growth forecasts for 2024. How do the G7 and BRICS countries compare?

Published

4 hours ago

April 24, 2024

Niccolo Conte

Faded horizontal bar chart visualization of G7 and BRICS countries' real GDP growth forecasts for 2024.

G7 & BRICS Real GDP Growth Forecasts for 2024

The International Monetary Fund’s (IMF) has released its real gross domestic product (GDP) growth forecasts for 2024, and while global growth is projected to stay steady at 3.2%, various major nations are seeing declining forecasts.

This chart visualizes the 2024 real GDP growth forecasts using data from the IMF’s 2024 World Economic Outlook for G7 and BRICS member nations along with Saudi Arabia, which is still considering an invitation to join the bloc.

Get the Key Insights of the IMF’s World Economic Outlook

Want a visual breakdown of the insights from the IMF’s 2024 World Economic Outlook report?

This visual is part of a special dispatch of the key takeaways exclusively for VC+ members.

Get the full dispatch of charts by signing up to VC+.

Mixed Economic Growth Prospects for Major Nations in 2024

Economic growth projections by the IMF for major nations are mixed, with the majority of G7 and BRICS countries forecasted to have slower growth in 2024 compared to 2023.

Only three BRICS-invited or member countries, Saudi Arabia, the UAE, and South Africa, have higher projected real GDP growth rates in 2024 than last year.

Group	Country	Real GDP Growth (2023)	Real GDP Growth (2024P)
G7	🇺🇸 U.S.	2.5%	2.7%
G7	🇨🇦 Canada	1.1%	1.2%
G7	🇯🇵 Japan	1.9%	0.9%
G7	🇫🇷 France	0.9%	0.7%
G7	🇮🇹 Italy	0.9%	0.7%
G7	🇬🇧 UK	0.1%	0.5%
G7	🇩🇪 Germany	-0.3%	0.2%
BRICS	🇮🇳 India	7.8%	6.8%
BRICS	🇨🇳 China	5.2%	4.6%
BRICS	🇦🇪 UAE	3.4%	3.5%
BRICS	🇮🇷 Iran	4.7%	3.3%
BRICS	🇷🇺 Russia	3.6%	3.2%
BRICS	🇪🇬 Egypt	3.8%	3.0%
BRICS-invited	🇸🇦 Saudi Arabia	-0.8%	2.6%
BRICS	🇧🇷 Brazil	2.9%	2.2%
BRICS	🇿🇦 South Africa	0.6%	0.9%
BRICS	🇪🇹 Ethiopia	7.2%	6.2%
	🌍 World	3.2%	3.2%

China and India are forecasted to maintain relatively high growth rates in 2024 at 4.6% and 6.8% respectively, but compared to the previous year, China is growing 0.6 percentage points slower while India is an entire percentage point slower.

On the other hand, four G7 nations are set to grow faster than last year, which includes Germany making its comeback from its negative real GDP growth of -0.3% in 2023.

Faster Growth for BRICS than G7 Nations

Despite mostly lower growth forecasts in 2024 compared to 2023, BRICS nations still have a significantly higher average growth forecast at 3.6% compared to the G7 average of 1%.

While the G7 countries’ combined GDP is around $15 trillion greater than the BRICS nations, with continued higher growth rates and the potential to add more members, BRICS looks likely to overtake the G7 in economic size within two decades.

BRICS Expansion Stutters Before October 2024 Summit

BRICS’ recent expansion has stuttered slightly, as Argentina’s newly-elected president Javier Milei declined its invitation and Saudi Arabia clarified that the country is still considering its invitation and has not joined BRICS yet.

Even with these initial growing pains, South Africa’s Foreign Minister Naledi Pandor told reporters in February that 34 different countries have submitted applications to join the growing BRICS bloc.

Any changes to the group are likely to be announced leading up to or at the 2024 BRICS summit which takes place October 22-24 in Kazan, Russia.