Countries by GDP: The Top 25 Economies in the World

GDP Per Capita, in Current U.S. Dollars: This is nominal GDP divided by the number of people in a country. GDP per capita measures how much a country's economy ... TableofContents Expand TableofContents 1.UnitedStates 2.China 3.Japan 4.Germany 5.UnitedKingdom 6.India 7.France 8.Italy 9.Canada 10.SouthKorea 11.Russia 12.Brazil 13.Australia 14.Spain 15.Mexico 16.Indonesia 17.TheNetherlands 18.Switzerland 19.Turkey 20.SaudiArabia 21.Poland 22.Sweden 23.Belgium 24.Thailand 25.Austria Investopedia Economy Partof GuidetoEconomics PartOf GuidetoEconomics ExploreTheGuide Overview IntroductiontoEconomics Overview EconomyDefinition HistoryofEconomics IsEconomicsaScience? UnderstandingFinancevs.Economics Macroeconomics Microeconomics EconomicConceptsandTheories Overview FourEconomicConcepts LawofSupplyandDemand Demand-SideEconomics Supply-SideEconomics MarketEconomy CommandEconomy EconomicValue KeynesianEconomics SocialEconomics EconomicIndicators Overview EconomicIndicator Top10USEconomicIndicators GrossDomesticProduct(GDP) WhatIsGDPandWhyIsItSoImportant? ConsumerSpending RetailSales JobMarket RealWorldEconomies Overview TheTop25EconomiesintheWorld ExamplesofFreeMarketEconomies IstheUSaMarketEconomyoraMixedEconomy? PrimaryDriversoftheChineseEconomy JapanInc. HowIndiaMakesItsMoney EuropeanUnion(EU) TheGermanEconomicMiracle TheEconomyoftheUnitedKingdom HowtheNorthKoreanEconomyWorks Grossdomesticproduct(GDP)isanestimateofthetotalvalueoffinishedgoodsandservicesproducedinacountry’sbordersduringaspecifiedperiod,usuallyayear.GDPispopularlyusedtoestimatethesizeofacountry’seconomy.GDPismostcommonlymeasuredbyusingtheexpendituremethod,whichcalculatesGDPbyaddingupspendingonnewconsumergoods,newinvestmentspending,governmentspending,andthevalueofnetexports(exportsminusimports). Throughoutmostoftheworld,countries’GDPsfluctuatewiththephasesofdifferenteconomiccycles,againstabackdropoflonger-termeconomicgrowthovertime.However,it’sinterestingtoseethatdespitetheseupsanddowns,thetopeconomiesasmeasuredbyGDPdon’tbudgeeasilyfromthepositionsthattheyhold. Comparedtothetop25economiesin2000,ourresearchhasfoundthatonlytwocountriesinthetop25—ThailandandIndonesia—weren’ttherebefore.Thatsaid,therehavebeensomebigmoverswithinthelist.ChinaandIndiamovedupintosecondplaceandfifthplace,respectively,havingbeeninsixthplaceand13thplacein2000.Furtherdownthelist,Indonesia,oneofthetwoaforementionednewcomerstothelist,vaultedforwardfromthe27thlargesteconomyin2000to16thin2020,whileThailandleapedfrom32ndplaceallthewayto24th. While2020isthemostrecentannualdataavailableforthesecountries,theCOVID-19pandemichashadamajorimpactoneconomiesaroundtheworld.Becauseithasslashedenergyprices,crateredtourism,loweredtradevolumes,andshutteredstoresduetoquarantines,countrieshaveexperiencedrecord-breakingdeclinesinGDP.Althoughmanyeconomieshadbeguntorecoverinthethirdquarterof2020,thevastmajorityofthetop25countriesexperiencednegativeGDPgrowthfortheyear. ThisarticlementionsseveralpopularwaystomeasureGDP,allofwhicharedrawnfromtheWorldBankdatabase: NominalGDPinCurrentU.S.Dollars:ThisisthemostbasicandcommonwayofmeasuringandcomparingGDPamongcountries,usinglocalpricesandcurrenciesconvertedintoU.S.dollarsbyusingcurrencymarketexchangerates. Thisisthenumberthatwasusedtodeterminethecountries’rankingsinthetop25list. PurchasingPowerParity(PPP)AdjustedGDPinCurrentInternationalDollars:ThisisanalternativewayofcomparingnominalGDPamongcountries,adjustingcurrenciesbasedonwhatbasketofgoodstheycouldbuyinthosecountriesratherthancurrencyexchangerates.Thisisawaytoadjustforthedifferenceinthecostoflivingamongcountries. GDPGrowth:ThisistheannualpercentagegrowthrateofnominalGDPinlocalpricesandcurrencies,whichestimateshowfastacountry’seconomyisgrowing. GDPPerCapita,inCurrentU.S.Dollars:ThisisnominalGDPdividedbythenumberofpeopleinacountry.GDPpercapitameasureshowmuchacountry’seconomyproducesperperson,ratherthanintotal.Thiscanalsoactasaveryroughmeasureofincomeorstandardoflivingforindividualslivinginacountry. Throughoutthislistandarticle,thetermGDPreferstonominalGDPincurrentU.S.dollarsunlessotherwisespecified. TopTenCountriesbyNominalGDPatCurrentU.S.DollarExchangeRates Country NominalGDP(intrillions) PPPAdjustedGDP(intrillions) AnnualGrowth(%) GDPPerCapita(inthousands) UnitedStates $20.89 $20.89 -3.6% $63,413.5 China $14.72 $24.27 2.3% $10,434.8 Japan $5.06 $5.25 -4.6% $40,193.3 Germany $3.85 $4.52 -4.6% $46,208.4 UnitedKingdom $2.76 $3.08 -9.7% $41,124.5 India $2.66 $8.97 -7.3% $1,927.7 France $2.63 $3.15 -7.9% $39,030.4 Italy $1.89 $2.49 -8.9% $31,714.2 Canada $1.64 $1.83 -5.3% $43,258.2 SouthKorea $1.64 $2.24 -0.9% $31,631.5 1.UnitedStates 2020NominalGDPinCurrentU.S.Dollars:$20.89trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $20.89trillion2020GDPGrowth:-3.6%2020NominalGDPPerCapita inCurrentU.S.Dollars:$63,413.5 TheUnitedStates’economyisthelargestintheworldasmeasuredbynominalGDP.ThebiggestcontributortothatGDPistheeconomy’sservicesector,whichincludesfinance,realestate,insurance,professionalandbusinessservices,andhealthcare. TheUnitedStateshasarelativelyopeneconomy,facilitatingflexiblebusinessinvestmentandforeigndirectinvestmentinthecountry.Itistheworld’sdominantgeopoliticalpowerandisabletomaintainalargeexternalnationaldebtastheproduceroftheworld’sprimaryreservecurrency.TheU.S.economyisattheforefrontoftechnologyinmanyindustries,butitfacesrisingthreatsintheformofeconomicinequality,risinghealthcareandsocialsafetynetcosts,anddeterioratinginfrastructure. 2.China 2020NominalGDPinCurrentU.S.Dollars:$14.72trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $24.27trillion2020GDPGrowth:2.3%2020NominalGDPPerCapita inCurrentU.S.Dollars:$10,434.8 Chinahastheworld’ssecondlargestnominalGDPincurrentdollarsandthelargestintermsofPPP.WithannualgrowththatconsistentlyoutpacesthatoftheUnitedStates,ChinamaybeontracktobecomethelargesteconomyintheworldbynominalGDPintheyearstocome. AsChinahasprogressivelyopeneditseconomyoverthepastfourdecades,economicdevelopmentandlivingstandardshavegreatlyimproved.Asthegovernmenthasgraduallyphasedoutcollectivizedagricultureandindustry,allowedgreaterflexibilityformarketprices,andincreasedtheautonomyofbusinesses,foreignanddomestictradeandinvestmenthavetakenoff.Coupledwithanindustrialpolicythatencouragesdomesticmanufacturing,thishasmadeChinatheworld’snumberoneexporter.Despitetheseadvantages,Chinafacessomesignificantchallenges,suchasarapidlyagingpopulationandsevereenvironmentaldegradation. 3.Japan 2020NominalGDPinCurrentU.S.Dollars:$5.06trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $5.25trillion2020GDPGrowth:-4.6%2020NominalGDPPerCapita inCurrentU.S.Dollars:$40,193.3 Japanisthethirdlargesteconomyintheworld.ItsGDPcrossedthe$5trillionmarkin2019. Strongco-operationbetweengovernmentandindustryandadvancedtechnologicalknow-howhavebuiltJapan’smanufacturingandexport-orientedeconomy.ManymajorJapanesebusinessesareorganizedasnetworksofinterlinkedcompaniesknownaskeiretsu. AftertheLostDecadeofthe1990sandtheimpactoftheglobalGreatRecession,JapanhasseenanuptickingrowthinrecentyearsunderthepoliciesofformerPrimeMinisterShinzoAbe.However,Japanispoorinnaturalresourcesanddependentonenergyimports,especiallyafterthegeneralshutdownofitsnuclearpowerindustryfollowingthe2011Fukushimadisaster.Japanhasalsostruggledwitharapidlyagingpopulation. 4.Germany 2020NominalGDPinCurrentU.S.Dollars:$3.85trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $4.52trillion2020GDPGrowth:-4.6%2020NominalGDPPerCapita inCurrentU.S.Dollars:$46,208.4 FourthamongworldeconomiesisGermany,witha2020GDPof$3.85trillion.GermanyisalsoEurope’slargesteconomy. Germanyisatopexporterofvehicles,machinery,chemicals,andothermanufacturedgoodsandhasahighlyskilledworkforce.Germany,however,facessomedemographicchallengestoitseconomicgrowth.Itslowfertilityratemakesreplacingitsagingworkforcemoredifficult,anditshighlevelsofnetimmigrationstrainitssocialwelfaresystem. 5.UnitedKingdom 2020NominalGDPinCurrentU.S.Dollars:$2.76trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $3.08trillion2020GDPGrowth:-9.7%2020NominalGDPPerCapita inCurrentU.S.Dollars:$41,124.5 TheUnitedKingdomhasthefifthlargesteconomyintheworld.IthadaGDPof$2.83trillionin2019,down9.7%fromtheprioryear. TheU.K.economyisdrivenbyitslargeservicesector,particularlyinfinance,insurance,andbusinessservices.Thenation’sextensivetradingrelationshipwithcontinentalEuropehasbeengreatlycomplicatedbytheresolutionofBrexitsubsequenttothe2016votetoleavetheEuropeanUnion(EU).AsofJan.31,2020,theU.K.isofficiallynotamemberoftheEU,butcontentiousnegotiationsovertraderelationsbetweenthetwoareongoing. 6.India 2020NominalGDPinCurrentU.S.Dollars:$2.66trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $8.97trillion2020GDPGrowth:-7.3%2020NominalGDPPerCapita inCurrentU.S.Dollars:$1,927.7 Indiaisthesixthlargesteconomyintheworld,withaGDPof$2.66trillionin2020,morethan7%lowerthanin2019.Becauseofitslargepopulation,Indiahasthelowestper-capitaGDPonourlist. India’seconomyisamixtureoftraditionalvillagefarmingandhandicraftsalongsideboomingmodernindustryandmechanizedagriculture.Indiaisamajorexporteroftechnologyservicesandbusinessoutsourcing,andtheservicesectormakesupalargeshareofitseconomicoutput.LiberalizationofIndia’seconomysincethe1990shasboostedeconomicgrowth,butinflexiblebusinessregulation,widespreadcorruption,andpersistentpovertyposechallengestoongoingexpansion. 7.France 2020NominalGDPinCurrentU.S.Dollars:$2.63trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $3.15trillion2020GDPGrowth:-7.9%2020NominalGDPPerCapita inCurrentU.S.Dollars:$39,030.4 FrancehadaGDPof$2.63trillionin2020,rankingseventhintheworld.Tourismisanimportantindustry,andFrancereceivesthemostvisitorsofanycountryeachyear. Franceisamixedeconomythathasmanyprivateandsemiprivatebusinessesacrossadiverserangeofindustries.However,thereisstillheavygovernmentinvolvementincertainkeysectors,suchasdefenseandelectricalpowergeneration.TheFrenchgovernment’scommitmenttoeconomicinterventioninfavorofsocialequalityalsocreatessomechallengesfortheeconomy,suchasarigidlabormarketwithhighunemploymentandalargepublicdebtrelativetootheradvancedeconomies. 8.Italy 2020NominalGDPinCurrentU.S.Dollars:$1.89trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $2.49trillion2020GDPGrowth:-8.9%2020NominalGDPPerCapita inCurrentU.S.Dollars:$31,714.2 Theworld’seighthlargestGDPbelongstoItalyat$1.89trillionin2020,down8.9%from2019.Itisalsotheeurozone’sthirdlargesteconomy. Italy’seconomyandlevelofdevelopmentvarynotablybyregion,withamoredeveloped,industrialeconomyinthenorthandunderdevelopedsouthernregions.Italyfacespersistentlysluggisheconomicgrowthduetoaveryhighpublicdebt,aninefficientcourtsystem,aweakbankingsector,aninefficientlabormarketwithchronicallyhighyouthunemployment,andalargeundergroundeconomy. 9.Canada 2020NominalGDPinCurrentU.S.Dollars:$1.64trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $1.83trillion2020GDPGrowth:-5.3%2020NominalGDPPerCapita inCurrentU.S.Dollars:$43,258.2 Canadahad$1.64trillioninGDPin2020,makingittheworld’sninthlargesteconomy.Canadahasawell-developedenergyextractionsector,withtheworld’sthirdlargestprovenoilreserves.Canadaalsohasimpressivemanufacturingandservicesectors,basedmostlyinurbanareasneartheU.S.border. Canada’sfreetraderelationshipwiththeUnitedStatesmeansthatthree-quartersofCanadianexportsheadtotheU.S.marketeachyear.Canada’sclosetiestotheUnitedStatesmeanthatithasdevelopedlargelyinparalleltotheworld’slargesteconomy. 10.SouthKorea 2020NominalGDPinCurrentU.S.Dollars:$1.64trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $2.24trillion2020GDPGrowth:-0.9%2020NominalGDPPerCapita inCurrentU.S.Dollars:$31,631.5 Roundingoutthetop10economiesintheworldbyGDP,SouthKorea,withaGDPof$1.64trillionin2020,isthe10thlargestworldeconomy.SouthKorea’seconomyisa20thcenturysuccessstorythatistodayfirmlyestablishedasanadvanced,industrialeconomy.Knownforitsstrategyofexport-ledgrowthandthedominanceofitschaebols(largebusinessconglomerates),SouthKoreainrecentdecadeshasbuiltanetworkoffreetradeagreementscovering58countriesthataccountformorethanthree-quartersoftheworld’sGDP.Itisamajorproducerandexporterofelectronics,telecommunicationsequipment,andmotorvehicles. Withthisprogress,however,SouthKoreaalsonowfacessomeofthesamechallengesthatmanyotheradvancedeconomiesaredealingwith,includingslowergrowthandanagingworkforce. 11.Russia 2020NominalGDPinCurrentU.S.Dollars:$1.48trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $4.13trillion2020GDPGrowth:-3%2020NominalGDPPerCapita inCurrentU.S.Dollars:$10,126.7 Russiaistheworld’s11thlargesteconomy,withaGDPof$1.48trillionasof2020,3%lowerthanin2019. Russiahasmovedtowardamoremarket-basedeconomyoverthe30yearssincethecollapseoftheSovietUnion,butgovernmentownershipofandinterventioninbusinessisstillcommon.Asaleadingexporterofoilandgas,aswellasothermineralsandmetals,Russia’seconomyishighlysensitivetoswingsinworldcommodityprices. 12.Brazil 2020NominalGDPinCurrentU.S.Dollars:$1.44trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $3.15trillion2020GDPGrowth:-4.1%2020NominalGDPPerCapita inCurrentU.S.Dollars:$6,796.8 Brazilisthe12thlargesteconomyintheworldandthelargestinSouthAmerica,witha2020GDPof$1.44trillion.Brazil’sdiversifiedeconomyrunsthegamutfromheavyindustries,suchasaircraftandautomotiveproduction,tomineralandenergyresourceextraction.Italsohasalargeagriculturalsectorthatmakesitamajorexporterofcoffeeandsoybeans. Brazilemergedfromasevererecessionin2017andsufferedaseriesofhigh-levelcorruptionscandalsalongtheway.Inthewakeoftheseevents,Brazilinstitutedaseriesofmajoreconomicreformsintendedtoreininpublicspendinganddebt,investinenergyinfrastructure,lowerbarrierstoforeigninvestment,andimprovelabormarketconditions. 13.Australia 2020NominalGDPinCurrentU.S.:$1.33trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $1.34trillion2020GDPGrowth:-0%2020NominalGDPPerCapita inCurrentU.S.Dollars:$51,692.8 Australiaisthe13thlargesteconomyintheworld,withaGDPof$1.33trillionin2020. AustraliacombinesarelativelyopendomesticeconomywithanextensivenetworkoffreetradearrangementswithtradingpartnersallaroundtheAsia-PacificRim.ThisworkstotheadvantagesofAustralia’sabundantnaturalresourceandagriculturalexportindustries.However,ithasalsoleftAustraliavulnerabletoswingsinworldcommoditydemandandpricesinenergy(coalandnaturalgas),metals(ironoreandgold),andagriculturalproducts(beefandsheepproducts). 14.Spain 2020NominalGDPinCurrentU.S.Dollars:$1.28trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $1.81trillion2020GDPGrowth:-10.8%2020NominalGDPPerCapita inCurrentU.S.Dollars:$27,063.2 SpainhadaGDPof$1.28trillionin2020,makingitthe14thlargesteconomyintheworldbyGDP. Spain’seconomysufferedseverelyduringtheGreatRecession,withunemploymentsoaringabove25%andarisingnationaldebtdespiteattemptsatfiscalausterity.IthasrecoveredinrecentyearsasmoderatinginflationandlaborcostshaveencouragedforeigninvestmentandincreasedthecompetitivenessofSpain’sexports,includingmanufacturedmachineryandfoodstuffs.However,politicalinstabilityhashinderedthegovernment’sabilitytosustainfurthereconomicreforms. 15.Mexico 2020NominalGDPinCurrentU.S.Dollars:$1.07trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $2.42trillion2020GDPGrowth:-8.3%2020NominalGDPPerCapita inCurrentU.S.Dollars:$8,329.3 Mexico’sGDPwas$1.07trillionin2020,makingitthe15thlargesteconomyintheworld. Overthepastthreedecades,MexicohasemergedasamanufacturingeconomyunderaseriesoffreetradearrangementswiththeUnitedStates,Canada,and44othercountries.ManymajorU.S.manufacturershaveintegratedsupplychainswithcounterpartsoroperationsinMexico.Mexicosupportsavarietyofexports,includingconsumerelectronics,vehicles,andautoparts,aswellaspetroleumandagriculturalproducts. TheinternationaldrugtradeconstitutesanongoingchallengetoMexico’sdevelopment,contributingdirectlytoviolenceandcorruptioninthecountry.WeaklegalinstitutionshavemadeitdifficulttoregulateandintegratethelargeinformaleconomythatemploysmorethanhalfofMexico’sworkforce. 16.Indonesia 2020NominalGDPinCurrentU.S.Dollars:$1.06trillion2020PPPAdjustedGDPinCurrentInternationalDollars: $3.3trillion2020GDPGrowth:-2.1%2020NominalGDPPerCapita inCurrentU.S.Dollars:$3,869.6 Indonesiaistheworld’s16thlargesteconomy,withaGDPof$1.06trillionasof2020. Indonesia’seconomyisthelargesteconomyinSoutheastAsiaandisbasedlargelyoncommodityexportindustries.Majorexportsincludecoalandpetroleumproducts,inadditiontoagriculturalcommoditiessuitableforindustrialuse,suchasrubberandpalmoil.Indonesiahasaninstitutionalcaponitsnationalbudgetdeficit,at-2.7%ofGDP,whichhasledtoitsrelativelylowdebtburdenandinvestment-gradecreditrating.However,regionalinequality,lackofinfrastructure,andgovernmentalcorruptionremainproblemsforIndonesia’srisingeconomy. 17.TheNetherlands 2020NominalGDPinCurrentU.S.Dollars:$913.86billion2020PPPAdjustedGDPinCurrentInternationalDollars: $1.03trillion2020GDPGrowth:-3.8%2020NominalGDPPerCapita inCurrentU.S.Dollars:$52,397.1 TheNetherlandsstandsasthe17thlargesteconomyintheworld,witha2020GDPof$913.86billion. TheNetherlandsisamajorcommercialtransportationhub,withsomeindustrialmanufacturingaswellaspetroleumextractionandprocessing.Ithasahighlydevelopedagriculturalsectorandisthesecondlargestagriculturalexporterintheworld.TheNetherlandshasalargefinancialservicessector,withassetsfourtimesthesizeofDutchGDP. 18.Switzerland 2020NominalGDPinCurrentU.S.Dollars:$752.25billion2020PPPAdjustedGDPinCurrentInternationalDollars: $619.79billion2020GDPGrowth:-2.4%2020NominalGDPPerCapita inCurrentU.S.Dollars:$87,097 TheAlpinenationofSwitzerlandhadaGDPof$752.25billionin2020,makingitthe18thlargesteconomyintheworld. Switzerlandhasalargeservicesector,includingfinancialservices,andahigh-techmanufacturingsectorservedbyahighlyskilledlaborforce.High-qualitylegal,political,andeconomicinstitutionsandsolidphysicalinfrastructuresetthestageforaproductiveeconomywithoneofthehighestper-capitaGDPsintheworld. 19.Turkey 2020NominalGDPinCurrentU.S.Dollars:$719.95billion2020PPPAdjustedGDPinCurrentInternationalDollars: $2.37trillion2020GDPGrowth:1.8%2020NominalGDPPerCapita inCurrentU.S.Dollars:$8,536.4 Turkeyisthe19thlargesteconomyintheworld,withaGDPof$719.95billionin2020. Turkeyhasalargelyopeneconomy,withlargeindustrialandservicesectors.Majorindustriesincludeelectronics,petrochemicals,andautomotiveproduction.PoliticalturmoilandinvolvementinregionalarmedconflictshaveledtosomefinancialandcurrencymarketinstabilityanduncertaintyaboutTurkey’seconomicfutureinrecentyears. 20.SaudiArabia 2020NominalGDPinCurrentU.S.Dollars:$700.12billion2020PPPAdjustedGDPinCurrentInternationalDollars: $1.63trillion2020GDPGrowth:-4.1%2020NominalGDPPerCapita inCurrentU.S.Dollars:$20,110.3 SaudiArabiahadaGDPof$700.12billionin2020,the20thlargestintheworld. TheSaudieconomyisheavilybasedonoilandistheworld’slargestoilexporter.TheSaudigovernmentownsandoperatesmuchofthecountry’smajorindustrythroughitsoilcompany,Aramco.However,withglobalenvironmentalconcernsdrivingincreasinginterestindevelopingnonfossilfuelenergysources,theSaudisarelookingtodiversifytheireconomybyencouragingmoreprivateinvestmentinhealthcareandotherserviceindustries.TheSaudigovernmenthasalsobeguntoatleastpartiallyprivatizeAramco,launchinganinitialpublicoffering(IPO)forthecompanyinlate2019. 21.Poland 2020NominalGDPinCurrentU.S.Dollars:$596.62billion2020PPPAdjustedGDPinCurrentInternationalDollars: $1.3trillion2020GDPGrowth:-2.5%2020NominalGDPPerCapita inCurrentU.S.Dollars:$15,721 Polandisthe21stlargesteconomyintheworld,witha2020GDPof$596.62billion.Heavyindustry,includingironandsteelproduction,machinerymanufacturing,shipbuilding,andcoalmining,isanimportantpartofPoland’seconomy. Poland’sbusiness-friendlyclimateandsoundmacroeconomicpoliciesallowedittobetheonlyEUcountrytoavoidrecessionintheaftermathofthe2008financialcrisis.However,inefficientlegalandregulatorystructuresandanagingpopulationarechallengesforPoland’songoinggrowthinthefuture. 22.Sweden 2020NominalGDPinCurrentU.S.Dollars:$541.22billion2020PPPAdjustedGDPinCurrentInternationalDollars: $568.71billion2020GDPGrowth:-2.9%2020NominalGDPPerCapita inCurrentU.S.Dollars:$52,274.4 Sweden,witha2020GDPof$541.22billion,isthe22ndlargesteconomyintheworld.Swedenisacompetitiveeconomy,withahighstandardoflivingandamixoffreeenterprisealongsideageneroussocialwelfarestate.Sweden’smanufacturingeconomyreliesheavilyonforeignexports,includingmachinery,motorvehicles,andtelecommunications. Swedenhastakeninalargenumberofnewimmigrantsandthusfacesashort-tomedium-termchallengewithintegratingthemintoSwedishsocietyanditslabormarket. 23.Belgium 2020NominalGDPinCurrentU.S.Dollars:$521.86billion2020PPPAdjustedGDPinCurrentInternationalDollars: $608.15billion2020GDPGrowth:-5.7%2020NominalGDPPerCapita inCurrentU.S.Dollars:$45,159.3 Belgium’s2020GDPwas$521.86billion,makingitthe23rdlargestworldeconomy.Belgiumisatradeandtransporthubthathasadiversifiedeconomywithamixofservices,manufacturing,andhigh-techindustry. BecauseofitsdeepintegrationwiththerestoftheEuropeaneconomy,Belgiumishighlysensitivetoswingsintheoveralleconomicperformanceofitsneighbors.BelgiumfacesahighpublicdebtburdenrelativetoitsGDP,whichcanconstituteanobstacletogrowth. 24.Thailand 2020NominalGDPinCurrentU.S.Dollars:$501.64billion2020PPPAdjustedGDPinCurrentInternationalDollars: $1.27trillion2020GDPGrowth:-6.1%2020NominalGDPPerCapita inCurrentU.S.Dollars:$7,186.9 Thailandisthe24thlargesteconomyintheworld,witha$501.64billionGDPin2020. TheThaieconomyenjoysrelativelyhigh-qualityinfrastructure,inadditiontopro-free-enterpriseandpro-investmentpolicies.Thailandishighlydependentonexports,whichaccountforabouttwo-thirdsofitsGDP.Itsmainexportsincludeelectronics,agriculturalproducts,motorvehiclesandparts,andfoodproducts.Thailandalsohasasubstantialinternationaltourismindustry.Itsagriculturalsectormakesupapproximately10%ofitseconomybutemploysabout30%ofitsworkers. 25.Austria 2020NominalGDPinCurrentU.S.Dollars:$433.26billion2020PPPAdjustedGDPinCurrentInternationalDollars: $496.23billion2020GDPGrowth:-6.7%2020NominalGDPPerCapita inCurrentU.S.Dollars:$48,586.8 LastbutcertainlynotleastisAustria,whose2020GDPwas$521.86billion,makingitthe25thlargestworldeconomy. 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CentralIntelligenceAgency,TheWorldFactbook.“Germany.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—UnitedKingdom.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—UnitedKingdom.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—UnitedKingdom.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—UnitedKingdom.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“UnitedKingdom.”AccessedDec.22,2021. BBCNews.“Brexit:WhatYouNeedtoKnowAbouttheU.K.LeavingtheE.U.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—India.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—India.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—India.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—India.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“India.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—France.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—France.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—France.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—France.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“France.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Italy.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—Italy.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—Italy.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Italy.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Italy.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Canada.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—Canada.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—Canada.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Canada.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Canada.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Korea,Rep.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—Korea,Rep.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—Korea,Rep.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Korea,Rep.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Korea,South.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—RussianFederation.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—RussianFederation.”AccessedDec.22,2021. 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TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Indonesia.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—Indonesia.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—Indonesia.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Indonesia.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Indonesia.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Netherlands.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—Netherlands.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—Netherlands.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Netherlands.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Netherlands.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Switzerland.”AccessedDec.22,2021. 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TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Sweden.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Sweden.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Belgium.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—Belgium.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—Belgium.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Belgium.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Belgium.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Thailand.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—Thailand.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—Thailand.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Thailand.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Thailand.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP(CurrentUS$)—Austria.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDP,PPP(CurrentInternational$)—Austria.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPGrowth(Annual%)—Austria.”AccessedDec.22,2021. TheWorldBank,WorldBankOpenData.“GDPPerCapita(CurrentUS$)—Austria.”AccessedDec.22,2021. CentralIntelligenceAgency,TheWorldFactbook.“Austria.”AccessedDec.22,2021. CompareAccounts AdvertiserDisclosure × TheoffersthatappearinthistablearefrompartnershipsfromwhichInvestopediareceivescompensation.Thiscompensationmayimpacthowandwherelistingsappear.Investopediadoesnotincludealloffersavailableinthemarketplace. 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InternationalMarkets HowRussiaMakesItsMoney PartnerLinks RelatedTerms GrossDomesticProduct(GDP)Definition Grossdomesticproduct(GDP)isthemonetaryvalueofallfinishedgoodsandservicesmadewithinacountryduringaspecificperiod. more PerCapitaGDPDefinition PercapitaGDPisametricthatbreaksdownacountry'sGDPperpersonandiscalculatedbydividingtheGDPofacountrybyitspopulation. more CelticTigerDefinition CelticTigerreferstothecountryofIrelandduringitseconomicboomyearsbetween1995andaround2007. more TigerEconomy AtigereconomyisanicknamegiventoseveralboomingeconomiesinSoutheastAsia.Itcanalsorefertooutperformingeconomiesinotherregions. more FourAsianTigersDefinition TheFourAsianTigersdefinethehigh-growtheconomiesofHongKong,Singapore,SouthKorea,andTaiwan. more AdvancedEconomiesDefinition Advancedeconomiesaredevelopedcountrieswithhighpercapitaincome,diversifiedindustry,andmodernfinancialinstitutions. more