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INFOGRAPHIC VisualCapitalist: Top Heavy: Countries by Share of the Global Economy 
Countries by Share of the Global Economy Original article: https://www.visualcapitalist.com/countries-by-share-of-global-economy/ Peter Burgess COMMENTARY Peter Burgess | ||
Top Heavy: Countries by Share of the Global Economy
By Avery Koop
Published on December 29, 2022
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.
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.
ℹ️ Gross Domestic Product (GDP) is a broad indicator of the economic activity within a country. It measures the total value of economic output—goods and services—produced within a given time frame by both the private and public sectors.
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 every country’s share of the world’s $101.6 trillion economy:
Search:
Rank Country GDP (Billions, USD)
#1 🇺🇸 United States $25,035.2
#2 🇨🇳 China $18,321.2
#3 🇯🇵 Japan $4,300.6
#4 🇩🇪 Germany $4,031.1
#5 🇮🇳 India $3,468.6
#6 🇬🇧 United Kingdom $3,198.5
#7 🇫🇷 France $2,778.1
#8 🇨🇦 Canada $2,200.4
#9 🇷🇺 Russia $2,133.1
#10 🇮🇹 Italy $1,997.0
Total World GDP $101,559.3
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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 20 smallest economies in the world:
Country GDP (Billions, USD)
🇹🇻 Tuvalu $0.06
🇳🇷 Nauru $0.13
🇰🇮 Kiribati $0.21
🇵🇼 Palau $0.23
🇲🇭 Marshall Islands $0.27
🇫🇲 Micronesia $0.43
🇹🇴 Tonga $0.50
🇸🇹 São Tomé and Príncipe $0.51
🇩🇲 Dominica $0.60
🇼🇸 Samoa $0.83
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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.
🔮🔮🔮
Speaking of predictions, we’re creating the ultimate cheatsheet for 2023.
See what hundreds of experts are predicting for 2023 with our Global Forecast Series.
Where does this data come from?
Source: IMF (International Monetary Fund)
Data note: Due to conflict and other issues, some countries are not included in this data set (e.g. Ukraine, Syria, Afghanistan). Major sources for GDP data differ widely on the size of Iran’s economy. It’s worth noting that this data from IMF ranks Iran’s GDP much higher than World Bank or the UN.
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