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Top Heavy: Countries by Share of the Global Economy

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countries by share of the global economy in 2022

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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:

RankCountryGDP (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
#118West 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🇺🇦 UkraineData 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:

CountryGDP (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.

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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.

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Ranked: The World’s 50 Top Countries by GDP, by Sector Breakdown

This graphic shows GDP by country, broken down into three main sectors: services, industry, and agriculture.

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Visualized: The Three Pillars of GDP, by Country

Over the last several decades, the service sector has fueled the economic activity of the world’s largest countries. Driving this trend has been changes in consumption, the easing of trade barriers, and rapid advancements in tech.

We can see this in the gross domestic product (GDP) breakdown of each country, which gets divided into three broad sectors: services, industry, and agriculture.

The above graphic from Pranav Gavali shows GDP by country, and how each sector contributes to an economy’s output, with data from the World Bank.

Drivers of GDP, by Country

As the most important and fastest growing component of GDP, services make up almost 60% of GDP in the world’s 50 largest countries. Following this is the industrial sector which includes the production of raw goods.

Below, we show how each sector contributes to GDP by country as of 2021:

CountryServices
(% GDP)
Industry
(% GDP)
Agriculture
(% GDP)
Other
(% GDP)
GDP (T)
🇺🇸 U.S.77.617.91.03.6$22.9
🇨🇳 China53.539.37.20.0$16.9
🇯🇵 Japan69.928.81.00.4$5.1
🇩🇪 Germany62.926.70.99.5$4.2
🇬🇧 UK71.617.30.710.4$3.1
🇫🇷 France70.316.71.611.4$2.9
🇮🇳 India47.926.117.38.7$2.9
🇮🇹 Italy65.022.71.910.4$2.1
🇨🇦 Canada*67.724.11.76.6$2.0
🇰🇷 South Korea57.032.41.88.8$1.8
🇧🇷 Brazil57.820.27.514.6$1.6
🇦🇺 Australia65.725.52.36.5$1.6
🇷🇺 Russia54.131.83.910.3$1.6
🇪🇸 Spain67.420.42.69.6$1.4
🇲🇽 Mexico59.230.83.96.1$1.3
🇮🇩 Indonesia42.839.813.34.1$1.2
🇮🇷 Iran47.338.012.42.3$1.1
🇳🇱 Netherlands69.417.91.511.2$1.0
🇨🇭 Switzerland71.924.60.62.8$0.8
🇹🇷 Turkiye52.831.15.510.6$0.8
🇹🇼 Taiwan60.638.01.50.0$0.8
🇸🇦 Saudi Arabia46.544.72.76.1$0.8
🇵🇱 Poland56.927.92.213.0$0.7
🇧🇪 Belgium68.819.60.710.9$0.6
🇸🇪 Sweden65.022.51.311.3$0.6
🇮🇱 Israel72.417.21.39.1$0.5
🇦🇷 Argentina52.523.67.116.8$0.5
🇦🇹 Austria62.425.81.210.5$0.5
🇳🇬 Nigeria43.831.423.41.4$0.5
🇹🇭 Thailand56.335.08.70.0$0.5
🇮🇪 Ireland55.437.81.05.8$0.5
🇭🇰 Hong Kong89.76.00.14.3$0.4
🇩🇰 Denmark66.719.30.913.1$0.4
🇸🇬 Singapore70.324.40.05.3$0.4
🇿🇦 South Africa63.024.52.510.0$0.4
🇵🇭 Philippines61.028.910.10.0$0.4
🇪🇬 Egypt52.531.211.44.9$0.4
🇧🇩 Bangladesh51.333.311.63.7$0.4
🇳🇴 Norway51.836.31.710.2$0.4
🇻🇳 Vietnam41.237.512.68.8$0.4
🇲🇾 Malaysia51.637.89.61.1$0.4
🇦🇪 U.A.E.51.647.50.90.0$0.4
🇵🇰 Pakistan52.118.822.76.4$0.3
🇵🇹 Portugal64.719.62.213.5$0.3
🇫🇮 Finland60.324.12.313.4$0.3
🇨🇴 Colombia58.024.97.69.5$0.3
🇷🇴 Romania59.126.74.59.6$0.3
🇨🇿 Czechia58.830.31.89.1$0.3
🇨🇱 Chile54.431.33.610.6$0.3
🇳🇿 New
Zealand*
65.620.45.78.4$0.2

Industrial sector includes construction. Agriculture sector includes forestry and fishing. *Data as of 2019.

In the U.S., services make up nearly 78% of GDP. Apart from Hong Kong, it comprises the highest share of GDP across the world’s largest economies. Roughly 80% of American jobs in the private sector are in services, spanning from healthcare and entertainment to finance and logistics.

Like America, a growing share of China’s GDP is from services, contributing to almost 54% of total economic output, up from 44% in 2010. This can be attributed to rising incomes and higher productivity in the sector as the economy has grown and matured, among other factors.

In a departure from the top 10 biggest countries globally, agriculture continues to drive a large portion of India’s GDP. India is the world’s second largest producer of wheat and rice, with agriculture accounting for 44% of the country’s employment.

While the services sector has grown in India, it makes up a greater share in other emerging economies such as Brazil (58%), Mexico (59%), and the Philippines (61%).

Growth Dynamics

Services-led growth has risen faster than manufacturing across many developing nations, underpinned by productivity growth.

This structural shift is seen across economies. In many countries in Africa, for instance, jobs have increasingly moved from agriculture to services and trade, where it now accounts for 42% of jobs.

These growth patterns are supported by rising incomes in developing economies, while innovation in tech is lowering barriers to enabling service growth. As the industrial sector makes up a lower share of trade and economic activity, the service sector is projected to make up 77% of global GDP by 2035.

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