Top Heavy: Countries by Share of the Global Economy
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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.

🔮🔮🔮
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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Markets

The Top Google Searches Related to Investing in 2022

What was on investors’ minds in 2022? Discover the top Google searches and how the dominant trends played out in portfolios.

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Trend lines showing when the top Google searches related to investing reached peak popularity over the course of 2022.
The following content is sponsored by New York Life Investments

The Top Google Searches Related to Investing in 2022

It was a turbulent year for the markets in 2022, with geopolitical conflict, rising prices, and the labor market playing key roles. Which stories captured investors’ attention the most? 

This infographic from New York Life Investments outlines the top Google searches related to investing in 2022, and offers a closer look at some of the trends.

Top Google Searches: Year in Review

We picked some of the top economic and investing stories that saw peak search interest in the U.S. each month, according to Google Trends.

Month of Peak InterestSearch Term
JanuaryGreat Resignation
FebruaryRussian Stock Market
MarchOil Price
April Housing Bubble
MayValue Investing
JuneBitcoin
JulyRecession
AugustInflation
SeptemberUS Dollar
OctoberOPEC
NovemberLayoffs
DecemberInterest Rate Forecast

Data based on exact searches in the U.S. from December 26, 2021 to December 18, 2022.

Let’s look at each quarter in more detail, to see how these top Google searches were related to activity in the economy and investors’ portfolios.

Q1 2022

The start of the year was marked by U.S. workers quitting their jobs in record numbers, and the effects of the Russia-Ukraine war. For instance, the price of crude oil skyrocketed after the war caused supply uncertainties. Early March’s peak of $125 per barrel was a 13-year high.

DateClosing Price of WTI Crude Oil
(USD/Barrel)
January 2, 2022$76
March 3, 2022$125
December 29, 2022$80

While crude oil lost nearly all its gains by year-end, the energy sector in general performed well. In fact, the S&P 500 Energy Index gained 57% over the year compared to the S&P 500’s 19% loss.

Q2 2022

The second quarter of 2022 saw abnormal house price growth, renewed interest in value investing, and a bitcoin crash. In particular, value investing performed much better than growth investing over the course of the year.

IndexPrice Return in 2022
S&P 500 Value Index-7.4%
S&P 500 Growth Index-30.1%

Value stocks have typically outperformed during periods of rising rates, and 2022 was no exception.

Q3 2022

The third quarter was defined by worries about a recession and inflation, along with interest in the rising U.S. dollar. In fact, the U.S. dollar gained against nearly every major currency.

Currency USD Appreciation Against Currency
(Dec 31 2020-Sep 30 2022)
Japanese Yen40.1%
Chinese Yuan9.2%
Euro25.1%
Canadian Dollar7.2%
British Pound22.0%
Australian Dollar18.1%

Higher interest rates made the U.S. dollar more attractive to investors, since it meant they would get a higher return on their fixed income investments.

Q4 2022

The end of the year was dominated by OPEC cutting oil production, high layoffs in the tech sector, and curiosity about the future of interest rates. The Federal Reserve’s December 2022 economic projections offer clues about the trajectory of the policy rate.

 202320242025Longer Run
Minimum Projection4.9%3.1%2.4%2.3%
Median Projection5.1%4.1%3.1%2.5%
Maximum Projection5.6%5.6%5.6%3.3%

The Federal Reserve expects interest rates to peak in 2023, with rates to remain elevated above pre-pandemic levels for the foreseeable future.

The Top Google Searches to Come

After a year of volatility across asset classes, economic uncertainty remains. Which themes will become investors’ top Google searches in 2023?

Find out how New York Life Investments can help you make sense of market trends.

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