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.
This article was written by Avery Koop and originally published by Visual Capitalist.
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.
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 the top countries’ share of the world’s $101.6 trillion economy:
Rank | Country | GDP (Billions, USD) |
---|---|---|
#1 | $25,035.2 | |
#2 | $18,321.2 | |
#3 | $4,300.6 | |
#4 | $4,031.1 | |
#5 | $3,468.6 | |
#6 | $3,198.5 | |
#7 | $2,778.1 | |
#8 | $2,200.4 | |
#9 | $2,133.1 | |
#10 | $1,997.0 | |
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 10 smallest economies in the world:
Country | GDP (Billions, USD) |
---|---|
$0.06 | |
$0.13 | |
$0.21 | |
$0.23 | |
$0.27 | |
$0.43 | |
$0.50 | |
$0.51 | |
$0.60 | |
$0.83 |
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.
Two US astronauts arrived Thursday at the Kennedy Space Center in Florida, ahead of their… Read More
JUST IN TIME AS LOS ANGELES RECEIVED MORE RAIN THAN SEATTLE THIS YEAR WHO: GreatWay Roofing,… Read More
AI rapidly transforms industries by optimizing processes, enhancing data analytics and creating smarter, more efficient… Read More
On March 11, 2024, the Indian government announced that it had successfully tested an Agni-V ballistic missile… Read More
Most NFL general managers (GMs) are optimistic and displaying overconfidence today as they prepare for… Read More
Cocoa hyperinflation is insane. The latest data from the futures market shows that cocoa prices in New… Read More
This website uses cookies.