TOP 5 Ranking the Richest Countries in the world? (सूची में भारत का स्थान क्या है?)
This list is based on the IMF's World Economic Outlook Database, October 2019.
1.United states
U.S. Nominal GDP: $21.44 trillion - U.S. GDP (PPP): $21.44 trillion
The U.S. has retained its position of being the world's largest economy since 1871. The size of the U.S. economy was at $20.58 trillion in 2018 in nominal terms and is expected to reach $22.32 trillion in 2020. The U.S. is often called as an economic superpower and that's because the economy contributes almost a quarter of the global economy,by their advanced infrastructure, technology, and an abundance of natural resources.
When the economies are assessed in terms of purchasing power parity, the U.S. loses its top spot to its close competitor China.
The U.S. has retained its position of being the world's largest economy since 1871. The size of the U.S. economy was at $20.58 trillion in 2018 in nominal terms and is expected to reach $22.32 trillion in 2020. The U.S. is often called as an economic superpower and that's because the economy contributes almost a quarter of the global economy,by their advanced infrastructure, technology, and an abundance of natural resources.
When the economies are assessed in terms of purchasing power parity, the U.S. loses its top spot to its close competitor China.
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| Trading economies |
China Nominal GDP: $14.14 trillion - China GDP (PPP): $27.31 trillion
China has experienced exponential growth over the past few decades, breaking the barriers of a centrally-planned closed economy to evolve into a manufacturing and exporting hub of the world. China is often referred to as the "world's factory," because of its huge manufacturing and export base. In terms of GDP in PPP, China is the largest economy, with a GDP (PPP) of $25.27 trillion. By 2023, China's GDP (PPP) would be $36.99 trillion. China's huge population brings down its GDP per capita to $10,100 (seventieth position).
Nominal GDP: $5.15 trillion- Japan GDP (PPP): $5.75 trillion
Japan is the third-largest economy in the world, with its GDP crossing the $5 trillion mark in 2019. The financial crisis of 2008 rocked the Japanese economy and it's been a challenging time for its economy since then. The global crisis triggered a recession, followed by weak domestic demand and huge public debt. When the economy was beginning to recover, it suffered a massive earthquake that hit the country socially and economically. While the economy has broken the deflationary spiral, economic growth remains muted.
Japan is the third-largest economy in the world, with its GDP crossing the $5 trillion mark in 2019. The financial crisis of 2008 rocked the Japanese economy and it's been a challenging time for its economy since then. The global crisis triggered a recession, followed by weak domestic demand and huge public debt. When the economy was beginning to recover, it suffered a massive earthquake that hit the country socially and economically. While the economy has broken the deflationary spiral, economic growth remains muted.
Germany Nominal GDP: $3.86 trillion - Germany GDP (PPP): $4.44 trillion
Germany is not just Europe's largest economy but also the strongest. On the global scale, it is the fourth-largest economy in terms of nominal GDP, with a $4 trillion GDP. The size of its GDP in terms of purchasing power parity is $4.44 trillion, while its GDP per capita is $46,560 (18th place). Germany was the third-largest economy in nominal terms in 1980, with a GDP of $850.47 billion.
To strenthen its manufacturing power in the current global scenario, Germany has launched Industrie 4.0—its strategic initiative to establish the country as a lead market and provider of advanced manufacturing solutions.
Germany is not just Europe's largest economy but also the strongest. On the global scale, it is the fourth-largest economy in terms of nominal GDP, with a $4 trillion GDP. The size of its GDP in terms of purchasing power parity is $4.44 trillion, while its GDP per capita is $46,560 (18th place). Germany was the third-largest economy in nominal terms in 1980, with a GDP of $850.47 billion.
To strenthen its manufacturing power in the current global scenario, Germany has launched Industrie 4.0—its strategic initiative to establish the country as a lead market and provider of advanced manufacturing solutions.
5.India
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| Business insider india |
India Nominal GDP: $2.94 trillion-India GDP (PPP): $10.51 trillion
India is the fastest-growing trillion-dollar economy in the world and the fifth-largest overall, with a nominal GDP of $2.94 trillion. India has become the fifth-largest economy in 2019, overtaking the United Kingdom and France. The country ranks third when GDP is compared in terms of purchasing power parity at $11.33 trillion. When it comes to calculating GDP per capita, India's high population drags its nominal GDP per capita down to $2,170. The Indian economy was just $189.438 billion in 1980, ranking 13th on the list globally. According to IMF, India's growth rate is expected to rise from 7.3% in 2018 to 7.5% in 2019 as drags from the currency exchange initiative and the introduction of the goods and services tax fade.
Make in India like initiative taken by the India's govt. to push manufacturing sector. Although the contribution of its agricultural sector has declined to around 17%, it still is way higher in comparison to the western nations. The economy's strength lies in a limited dependence on exports, high saving rates, favorable demographics, and a rising middle class.
So,Here the top 5 ranking of Richest countries in the world ends.
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