When it comes to the leading national economies of the world, the players in the top ten are usually the same, although their number on the list may vary slightly from year to year.

We compiled a ranking of world economies 2019, a table of GDP measured in US dollars. GDP data was obtained from the lists of the World Bank (WB) and the International Monetary Fund (IMF).

We also prepared a ranking of the richest countries in 2019, calculated at the purchasing power parity of GDP (PPP).

10 countries with the strongest economies 2019

10. Canada

The ranking of world economies opens the 10th largest economy, ahead of Russia, which takes only 12th place in the list of the best economies in the world according to the IMF and WB. In the period from 1999 to 2008, the Canadian economy "took off", and GDP grew annually by an average of 2.9%.

Thanks to close economic ties with the United States, in the crisis year of 2009, Canada's economy suffered little, down 2.7% from 2008. And in the period from 2010 to 2013, there was an increase in GDP by an average of 1.4% per year.

FocusEconomics experts expect Canada’s GDP to be 1.8 trillion. dollars with a growth rate of 2% in 2019.

9. Brazil

After significant growth in 2007 and 2008, Brazil's developed economy shrank by 0.3% in 2009, as demand for export of goods from the country decreased, and the flow of foreign loans decreased significantly.

However, already in 2010, Brazil showed an enviable rate of economic growth - 7.5%. It was the highest growth rate in 25 years. Then, growth slowed, partly due to rising inflation, to 2.1% annually from 2011 to 2013. Due to various corruption scandals, tough credit conditions and political unrest, the Brazilian economy is no longer growing as fast as before. But still held in the top ten best economies in the world.

According to FocusEconomics experts, in 2019, the Brazilian economy will grow by 2.3%, and the nominal GDP will be $ 2 trillion.

8. Italy

A country with a good economy is currently suffering from political instability, economic stagnation and a lack of structural reforms. Before the global economic crisis of 2008-2009, she was already working “at idle”. And the crisis period turned out to be very painful for her, bringing down the economy by 5.5% - the strongest drop in Italian GDP in recent decades.

However, in recent years, things in the Italian economy are gradually recovering. She remains saddled with numerous structural issues, including:

• Stagnation of labor productivity;
• high tax rates;
• a large amount of non-performing loans in the banking sector;
• and high public debt.

FocusEconomics experts believe that the nominal GDP in 2019 will amount to 2.1 trillion. dollars, increasing by 1.3% annually.

7. France

Solar France generates about one fifth of the euro area's gross domestic product in the amount of 2.9 trillion. dollars. Currently, the main engine of the country's economy is the service sector, it accounts for more than 70% of GDP.

France is one of the world leaders in the automotive, aerospace and railway industries, as well as in the production of cosmetics and luxury goods.

The financial crisis of 2008-2009, the French economy suffered relatively painlessly. In part, it was protected by a small dependence on foreign trade and stable indicators of private consumption. However, high unemployment continues to cause growing concern among French politicians.

According to the FocusEconomics forecast, French GDP will grow by 1.7% in 2019 and 1.6% in 2020.

6. India

In the period from 2003 to 2007 in India there was a high rate of economic growth - about 9% per year. However, in 2008 it ceased. The reason is the same as in other countries, the global economic crisis.

In the following years, the positive shifts in the Indian economy were hindered by the falling rupee and the slow growth of industry. Investors began to quickly withdraw money from the country. Due to the growth of the stock market and the reduction of the current account deficit, India is among the top five countries in terms of GDP.

By 2020, India's economy is expected to catch up with Britain and become the fifth largest economy in the world with a nominal GDP of $ 2.9 trillion.

5. UK

10 years before the Great Recession (World Economic Crisis), from 1999 to 2008, the gross domestic product of Great Britain grew by an average of 2.8% per year. As a result of over-investment in the housing market and the strong dependence of consumers on loans, financial and credit crises hit the English economy.

In 2009, the GDP of one of the most competitive countries in the world fell by 5.2%, mainly due to a sharp drop in private investment in fixed assets.

Since then, England's GDP growth has bounced back, but Brexit uncertainty still threatens the economy.

Economists believe that the UK will remain on the list of the 5 richest economies in the world until at least 2020, and its GDP growth is estimated at 1.5% in 2019.

4. Germany

In the ten years before the Great Recession, German GDP grew at an average of 1.6% per year. However, in 2009, one of the most successful economies in the world collapsed immediately by 5.2%. This was due to the country's dependence on the export of goods.

In 2010, the German economy bounced back and showed growth of 4.0%. The next three years were overshadowed by the ongoing crisis in the Eurozone, but the German government still managed to keep the country in fourth place in the ranking of world economies. In 2019, its GDP, theoretically, will grow by 1.8%.

3. Japan

The three countries with the strongest economies are opened by the country of sakura and samurai. According to economic forecasts, the volume of nominal GDP in Japan in 2019 will reach 5.2 trillion dollars.

Until the 1990s, Japan was the equivalent of modern China, rapidly developing in the 1960s, 70s, and 80s. However, during the 1990s, also referred to as the “lost decade,” the growth of the Japanese economy slowed significantly, mainly due to the explosion of the “price bubble” on assets in the country.

Thanks to the efforts of the Japanese authorities at the end of 2005, the country ahead of the US and EU economies in terms of economic growth. In 2019, its growth rate is expected to be 1.1%.

2. China

In 1978, when China launched its economic reform program, the country ranked ninth in terms of nominal gross domestic product with $ 214 billion. 35 years passed and China rose to second place in the list of the largest world economies. Its nominal GDP reaches 9.2 trillion dollars.

Previously, most of the GDP was in the secondary sector (including industry and construction). However, in recent years, China's modernization has pushed the tertiary sector (service sector) to development, and in 2013 it became the largest category of GDP with a share of 46.3%, while the secondary sector still accounts for significant 45.0% of the total production of the country.

The Chinese economy is projected to grow 6.3% in 2019. And by 2030, it will become the largest economy in the world.

1. USA

The most powerful and largest economy in the world according to the IMF and the WB in the United States of America.

Despite internal problems, along with a rapidly changing global landscape, the US economy is still the largest in the world. And it is projected that the country's nominal GDP will exceed $ 21 trillion in 2019. The US economy accounts for about 20% of total world production, and this is still more than in China.

The world's leading economy is characterized by a technologically advanced services sector, which accounts for about 80% of jobs. The US economy is dominated by service-oriented companies, and their number is highest in areas such as technology, financial services, healthcare and retail.

Large US corporations also play an important role on the world stage, with more than a fifth of Fortune Global 500 companies located in the United States. According to FocusEconomics forecasts, the US economy will grow by 2.5% in 2019 and 1.7% in 2020.

World GDP list 2019, table

The 2019 GDP rating of countries is based on forecasted data of the International Monetary Fund and FocusEconomics in billion $.

Watch the video: Top 10 Economies of Europe 2019 by Nominal GDP (November 2024).