A country’s economy has many facets, but one of the most important ones is its gross domestic product, or GDP. An economy’s GDP denotes the total market value of all final goods and services produced within its borders over a given period of time, usually a year. Although many other factors contribute to determining an economy’s success, the size and strength of the GDP does play an important role in measuring overall economic strength. To learn more about this topic, continue reading here.
1) United States
The United States is one of the world’s largest economies and is a leader in both manufacturing and service industries. It has an advanced, diversified economy that is powerfully competitive across all sectors. The U.S. ranks as one of the safest and most desirable places in which to live and work; it provides outstanding education opportunities, manages huge amounts of patents, produces most of the world’s goods, has enormous natural resources, and often tops lists for quality of life (particularly health care). The U.S.
2) China
China has seen its economy grow exponentially in recent years, and this growth is expected to continue. A large part of China’s economic success has to do with its ability to produce goods at a low cost, which helps them sell well on world markets. China is also making an effort to move away from exports and towards increasing domestic consumption, which will boost their economy even more. As one of the largest countries in the world, it’s no wonder that China has such a strong economy.
3) Japan
Japan is one of the most economically stable countries in the world. Japan has a GDP (PPP) of $4.2 trillion, which makes it one of the world’s largest economies. The country exports more than $1 trillion worth of goods and services to other countries every year, and imports an additional $1 trillion worth.
4) Germany
Germany is one of the largest and most productive economies in Europe. The country, which has been a member of the European Union since 1993, exports more goods than any other EU country. Germany’s economic strength can be attributed to its sophisticated manufacturing sector, a skilled labor force, and high levels of research and development expenditure.
5) United Kingdom
The United Kingdom is a wealthy country. It is ninth in nominal GDP per capita and tenth in GDP per capita (PPP). The UK has an affluent and diversified economy with strong international trade links, it is one of the world’s most industrialised countries. Its main exports are goods such as machinery, vehicles, chemicals and food products. The UK also has a successful service sector that is worth more than its industrial sector; this sector includes financial services, transport, education, retail and public administration.
6) France
France is a country with one of the strongest economies in the world, which makes it an attractive place to do business. The country’s economic output is second in Europe only to Germany and more than 20% larger than that of its nearest rival, Italy. France has an unemployment rate of 9.7%.
7) India
- India is a country with over 1 billion people, which makes it one of the most populated countries in the world.
- The economy of India has been growing at a steady rate and contributes to nearly 20% of world GDP.
- The Indian Rupee is considered one of the strongest currencies in Asia and among emerging market countries in general.
8) Italy
Italy is a wealthy, diverse country with a long history of artistic and scientific achievement. It’s home to some of the world’s most iconic artworks including Michelangelo’s David, Leonardo da Vinci’s Mona Lisa, and Caravaggio’s The Calling of Saint Matthew. Italy also has a thriving fashion industry with over 2500 brands and designers producing apparel for both women and men. Italy is also known for its food culture which includes traditional dishes such as pizza, pasta, gelato and more.
9) Brazil
Brazil is the largest country in South America and has one of the world’s fastest-growing economies. The country is one of the top producers of coffee, sugar, soybeans, and corn. Brazil also exports a lot of other raw materials like iron ore, copper, petroleum products, and gold. It has a thriving service sector that provides jobs for more than half its population.
10) Canada
Canada has a strong economy thanks to its many natural resources, including oil and natural gas. The U.S., Canada’s largest trading partner, buys three-quarters of all exports from this country. Canada is also a major exporter of wheat, canola oil, uranium, potash and lumber. Manufacturing is one of the fastest growing sectors in this country’s economy with automobiles making up a significant portion of that industry.