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Hi friends, I am Sindhu. Today I am sharing important General Knowledge topic, Top 20 Biggest Economies in the World, based on GDP. This list contains projected GDP's of 20 Countries/Economies in current prices (U.S. dollars) of year 2017. Happy Reading :)
What is GDP ?
GDP (Gross Domestic Product) is the total market value of all final goods and services produced in a country in a given year. In Nominal method, market exchange rates are used for conversion. To make meaningful comparison, PPP is used to compare economies and incomes of people by adjusting for differences in prices in different countries.
GDP (Gross Domestic Product) is the total market value of all final goods and services produced in a country in a given year. In Nominal method, market exchange rates are used for conversion. To make meaningful comparison, PPP is used to compare economies and incomes of people by adjusting for differences in prices in different countries.
Top 20 Countries / Economies in the World (as per Nominal GDP)
Rank
|
Country / Economy
|
GDP (in billions of $)
|
1
|
United States
|
19,417.144
|
2
|
China
|
11,795.297
|
3
|
Japan
|
4,841.221
|
4
|
Germany
|
3,423.287
|
5
|
United Kingdom
|
2,496.757
|
6
|
India
|
2,454.458
|
7
|
France
|
2,420.440
|
8
|
Brazil
|
2,140.940
|
9
|
Italy
|
1,807.425
|
10
|
Canada
|
1,600.265
|
11
|
Russia
|
1,560.706
|
12
|
Korea
|
1,498.074
|
13
|
Australia
|
1,359.723
|
14
|
Spain
|
1,232.440
|
15
|
Indonesia
|
1,020.515
|
16
|
Mexico
|
987.303
|
17
|
Turkey
|
793.698
|
18
|
Netherlands
|
762.694
|
19
|
Saudi Arabia
|
707.379
|
20
|
Switzerland
|
659.368
|
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