This very awesome visualization uses the latest 2017 GDP numbers from the World Bank, released on September 21, 2018 to see how large the economy is for major countries around the world. It’s helpful as it groups the countries by region, allowing us to see not just the largest countries by GDP but to understand how regions effect the global economy.
Looking at the top ten countries overall, India’s economy surpassed France to become the 6th biggest in the world while the UK was the only economy to shrink among the top ten, perhaps its part of the BREXIT fall out. The U.S. is still the biggest while China is continuing to rise as a global economic power, accounting for 15.4% of the world’s GDP, up from 14.84%. last year.
Top 10 Biggest World Economies by GDP
1. United States – $19.39 trillion
2. China – $12.24 trillion
3. Japan – $4.87 trillion
4. Germany – $3.67 trillion
5. UK – $2.62 trillion
6. India – $2.60 trillion
7. France – $2.58 trillion
8. Brazil – $2.05 trillion
9. Italy – $1.93 trillion
10. Canada – $1.65 trillion
So what does this all mean, well it means the the combined GDP of the top four countries in the world (U.S., China, Japan and Germany) is greater than the entire rest of the world. The most obvious conclusion is that the North America, Europe and Asia drive the global economy while the global south barely makes a dent. Things are changing but the world has a long way to go in order to equalize economic power.