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World Economy Ranking

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Last Updated: 02 November 2020

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General | Latest Info

For the fifth year in a row, China was the world's largest economy in 2019. It contributed 22. 5 trillion, or 17. 3 %, of the world's 130. 1 trillion in gross domestic product, according to estimates by the World Bank. It uses so-call international dollars to make better comparisons among countries. The US was second, with 20. 5 trillion, or 15. 8 % share. The European Union was in third place, contributing 19. 9 trillion, or 15. 3 %, of World GDP. Three combined, represent 48 % of the world economy. No other economy is even close to the top three. The fourth-largest in 2019 was India, generating 9. 2 trillion and Japan was fifth at 5. 2 trillion. Germany, largest economy in the EU, added 4. 5 trillion. China has been the world's largest economy since 2015, when it took top spot from the EU. Still, China's growth rate has slow to single digits as its leaders attempt to head off an asset bubble through reform. So it's unlikely that the Chinese yuan will replace the dollar as the world's reserve currency anytime soon. The dollar is buoyed by the power of the US economy. GDP has four components: output by households, government, business investment, as well as net exports. PPP takes into account the cost of living by reflecting how much currency of one country needs to be converted to another to ensure that the first currency can buy the same amount of goods and services as second country. That reason Economist's Big Mac Index shows what a Big Mac costs in 48 countries.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Nominal GDP vs. PPP GDP

All figures are in U.S. dollars unless otherwise stated.

Mining CompanyCompany StagePrimary Metal ProducedMarket Cap. Oct 31, 2019Market Cap. July 29, 2020Bull Market Performance (Nov. 1, 2019-July 29, 2020)Bear Market Performance (Jan 02 - Dec 31, 2018)
Banyan GoldExploration/ DevelopmentGold$6M$40M500%-44%
Renforth ResourcesExplorationGold$8M$10M11%-10%
Auryn ResourcesExplorationGold, Copper$181M$330M60%-39%
Wesdome Gold Mines Ltd.ProductionGold$1,104M$1,885M68%110%
Monarch GoldExploration/ DevelopmentGold$57M$148M139%-23%
Red Pine ExplorationExplorationGold$13M$22M29%-55%
Revival Gold Inc.Exploration/ DevelopmentGold$27M$74M113%5%
Erdene Resource DevelopmentExploration/ DevelopmentGold$36M$111M222%-56%
Endeavor Mining Corp.ProductionGold$2,622M$5,874M54%-13%
Yamana Gold IncProductionGold$4,572M$8,279M87%-22%

Earlier this month, we showed you the world's 86 trillion economy broken down by country, using nominal GDP calculations. While this is one useful way to view the global economic picture, it is not the only way. Today visualization, which comes to US from howmuch. Net, is similar in that it also uses Voronoi diagram to display the composition of the world economy by GDP. However, by adjusting data for Purchasing Power PARITY, it produces a very different view of how global productivity breaks down. Purchasing Power PARITY, or PPP, is an economic theory that can be applied to adjust the prices of goods in give market. In essence, instead of using current market rates for prices, PPP tries to more accurately account for differences in cost of living between countries-especially in places where labor and goods are far cheaper. When applied to GDP measurements, PPP can help provide a more accurate picture of actual productivity. For example, taxi ride in Bolivia may be far cheaper than one in New York City, even though it is the same service provided over the same distance. Applying PPP to GDP figures can help correct for these types of differences. After adjusting for PPP, how does the composition of the global economy change from nominal numbers? Below are the 15 largest economies by GDP, as well as how their rankings changed from the previous chart, which uses nominal data. Using GDP, world economy is worth 136. 5 trillion in current International US dollars. With PPP, you can see Indonesia jump up ranking by nine spots to become 7 ranked economy. Likewise, Turkey and India both climb ranking by six and four spots respectively. China also switched With US, to become the world's largest economy. On the flipside, it is often more developed economies with strong currencies that see a drop in their rankings. After adjusting for PPP, United States, Japan, Germany, France, Italy, South Korea, Spain, and UK all slipped from their previous positions. For more on GDP, see projections for the world's largest 10 economies in 2030 that we published earlier this year.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

Table

RankCountryGDP (2018, PPP)Share of World TotalChange (vs. nominal rank)
1China$25.4 trillion18.6%+1
2United States$20.5 trillion15.0%-1
3India$10.5 trillion7.7%+4
4Japan$5.5 trillion4.0%-1
5Germany$4.5 trillion3.3%-1
6Russia$4.0 trillion2.9%+5
7Indonesia$3.5 trillion2.6%+9
8Brazil$3.4 trillion2.5%+1
9United Kingdom$3.1 trillion2.3%-4
10France$3.1 trillion2.3%-4
11Italy$2.5 trillion1.9%-3
12Mexico$2.5 trillion1.9%+3
13Turkey$2.4 trillion1.7%+6
14Korea, Rep.$2.1 trillion1.5%-2
15Spain$1.9 trillion1.4%-1

Table2

Investment MethodBenefitsLimitations
Direct physical investmentPurest form of exposure Intrinsic value of a commodity and physical possessionHigh transaction costs (buying, shipping, transport) Costs of physical storage limit the quantity and returns
Commodity futuresCommodity investment without the need for storage Diversification benefits and inflation hedgeComplex and frequent transactions Risk of contangowhen futures contracts are more expensive than the underlying commodity
Commodity-related equitiesExposure to prices without storage or transaction limitations Opportunity to benefit from commodity prices and company performanceReturns depend on the companys valuation Companies may mitigate risk by producing multiple commoditiesreducing leverage to prices

Table3

CompanyCompany StagePrimary Metal ProducedMarket Cap. Oct 31, 2019Market Cap. July 29, 2020Bull Market Performance (Nov. 1, 2019-July 29, 2020)Bear Market Performance (Jan 02 - Dec 31, 2018)
Silvercrest MetalsExplorationSilver$694M$1,449M78%117%
Pan American SilverProductionSilver$2,973M$10,550M125%1%
Golden MineralsExplorationSilver$30M$80M80%-42%
Americas Gold and SilverProductionSilver$335M$482M10%-56%
Dolly Varden Silver Corp.ExplorationSilver$28M$74M152%-32%
Endeavour SilverProductionSilver, Gold$458M$837M72%-10%
* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Nominal GDP Rankings by Country

Here are 2019 rankings by nominal GDP, shown in current US dollars. These don't take into account PPP, and by this measure, US is the world's biggest economy: US: 21. 4 trillion EU: 15. 6 trillion China: 14. 3 trillion Japan: 5. 1 trillion Germany: 3. 8 trillion India: 2. 9 trillion UK: 2. 8 trillion France: 2. 7 trillion Italy: 2. 0 trillion Brazil: 1. 84 trillion instead of PPP, These calculations use the official exchange rate. Unlike the PPP, official exchange rate doesn't account for changes in rate over time. It also doesn't compensate for government manipulation of exchange rates. PPP takes these variances into account, giving a more realistic picture.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

2. China

Since China began to open up and reform its economy in 1978, GDP growth has averaged almost 10 percent a year, and more than 850 million people have been lifted out of poverty. Today, China is an upper-middle-income country and the world's second largest economy. But its per capita income is still only about a quarter of that of high-income countries, and about 373 million Chinese are living below the upper-middle-income poverty line of US 5. 50 day. China also lags in labor productivity and human capital. Income inequality has improved over the last decade but remains relatively high. China's high growth based on resource-intensive manufacturing, exports, and low-pay labor has largely reached its limits and has led to economic, social, and environmental imbalances. Reducing these imbalances requires shifts in the structure of the economy from low-end manufacturing to higher-end manufacturing and services, and from investment to consumption. Over the past few years, growth has moderated in the face of structural constraints, including declining labor force growth, diminishing returns to investment, and slowing productivity. The challenge going forward is to find New Drivers of Growth while addressing the social and environmental legacies of China's previous development path. China's rapid economic growth exceeds the pace of institutional development, and there are important institutional and reform gaps that China needs to address to ensure a high-quality and sustainable growth path. The role of the State needs to evolve and focus on providing stable market expectations and a clear and fair business environment, as well as strengthening the regulatory system and the rule of law to further support the market system. Give its size, China is central to important regional and global development issues. China is the largest emitter of greenhouse gases, and its air and water pollution affects other countries. Global environmental problems cannot be solved without Chinese engagement. Moreover, maintaining economic growth at reasonable levels has important spillovers for the growth of the rest of the world economy. Many of the complex development challenges that China faces are relevant to other countries, including transitioning to a new growth model, rapid aging, building cost-effective health System, and promoting lower-carbon energy path. China is growing influence on other developing economies through trade, investment, and ideas. China's most immediate challenge is related to the economic, social and public health impacts of the COVID-19 pandemic. The COVID-19 outbreak has led to unprecedented economic shock in China and the global economy. China's economy has started to rebound from the COVID-19 induced shock, but recovery remains uneven. While supply side constraints have largely ease, domestic demand and especially private consumption remain weak, reflecting lingering behavioral impacts of pandemic, labor dislocation and slower growth in household incomes. The situation calls for macroeconomic policy mix aimed at rebuilding confidence and augmenting domestic demand in the short term while supporting medium-term rebalancing to a greener and more inclusive economy.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

3. Japan

87 trillion GDP Growth: 1. 71 % GDP per Capita: 38 214 Share of World GDP: 6. 02 % Japan's four main islands-Honshu, Hokkaido, Shikoku, and Kyushu-constitute nearly 98 % of its land area. It has the world's 3 largest economy by nominal GDP and the 4 largest economy by purchasing power parity. Rank as one of most innovative countries in the world, Japan is the world's largest electronic goods producer and the 3 largest automobile manufacturer. Country generally has surplus in annual trade and international investment. The country's workforce is highly qualified and skilled, proving to be instrumental in organizational growth.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

4. Germany

Germany is not just Europe's largest economy but also the strongest. On a global scale, it is the fourth-largest economy in terms of nominal GDP, with 4 trillion GDP. Size of its GDP in terms of purchasing power parity is 4. 44 trillion, while its GDP per Capita is 46 560. Germany was the third-largest economy in nominal terms in 1980, with a GDP of 850. 47 billion. The nation has been dependent upon capital goods exports, which suffered setback post-2008 financial crisis. The Economy grew by 2. 2 % and 2. 5 % in 2016 and 2017, respectively. However, IMF says this slip to 1. 5 % and 0. 5 % in 2018 and 2019, respectively. To bolster its manufacturing strength in the current global scenario, Germany has launched Industrie 4. 0its strategic initiative to establish the country as lead market and provider of advanced manufacturing solutions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

5. India

65 trillion GDP Growth: 6. 68 % GDP per Capita: 1 980 Share of World GDP: 3. 28 % Republic of India is a federal democracy that consists of 29 states and 7 union territories. It is the largest democracy and 6 largest economy in the world. India has thriving manufacturing, technology, and service sectors. Since 2014, rate of foreign direct investment inflows to India has grown steadily as some key policy changes were incorporated by the government to facilitate this growth. Some strategic steps have been taken to stimulate the Indian business environment, including reforms to remove bottlenecks in key business areas, reducing minimum capital requirement, and simplifying the process of obtaining necessary licenses.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

8. Italy

With nominal GDP of 2. 07 trillion, Italy is the world's eighth-largest economy. Its economy is expected to expand to 2. 26 trillion by 2023. In terms of GDP, its economy is worth 2. 40 trillion and it has a per capita GDP of 34 260. 34. Italy—a prominent member of the eurozone—has been facing deep political and economic chaos. Its unemployment rate continues to be in double-digits, while its public debt remains sticky at around 132 % of GDP. On positive side, exports and business investment are driving economic recovery. Economy clock 0. 9 % and 1. 5 % in 2016 and 2017, respectively. It is projected to edge down to 1. 2 % in 2018 and 1. 0 % in 2019.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

9. Brazil

Brazil is the largest economy in South America and ranks ninth largest in the world by GDP, which measures At 1. 93 trillion nominally and 9160 per capita. 2 Until 2010, economic growth was strong, but in the last few years there have been causes for concern over the country's economic future. Problems have include conviction of the former president in 2016, and sanctions against some of its leading companies. The Brazils economy is still expected to see growth of 2. 3 % in 2019 and 2. 5 % in 2020. 3 As far as governmental debt go, country is nearing 100 % with a figure of 90. 2 %. 4 service sector is responsible for 58. 5 % of Brazil's GDP Contribution, while industry accounts for 32. 1 %.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Sources

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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