Introduction:
The gross domestic product (GDP) represents the total estimated value of goods and services produced by a country during a period. This calculation is based on nominal GDP Countries, also referred to as GDP in value or GDP at current prices.
When comparing economic activity among nations, GDP becomes the most reliable gauge. In this article, we have discussed the top 10 GDP countries in 2023. In this article, you will get information about the country’s nominal GDP and GDP (PPP) and many more.
GDP Countries (Image Source – VisualCapitalist.com)
List Of Top 10 GDP Countries:
Table of Contents
United States:
From 1960 until 2023, the USA maintains its position as the world’s largest economy by persistently holding onto the top spot. The USA economy is very diverse, supported by significant industries in the service, industrial, financial, and technological fields. The Top GDP Countries in 2023 have a large consumer market, encourage creativity and entrepreneurship, has a robust infrastructure, and enjoy favorable business climates.
- Population: 332.4 million
- Number of States: 50
- Capital: Washington, D.C.
- Economical Center: New York City
- Highest Valued Company: Apple
China:
China’s economic development has experienced a significant rise. It went from the fourth position in 1960 to securing the second spot by 2023. The pillars driving this growth are the manufacturing sector, exports, and investment. China takes pride in its abundant workforce, strong governmental support, Top and best GDP Countries in 2023 technological advancements, and an expanding consumer market.
- Population: 1.444 billion
- Number of States: 23
- Capital: Beijing
- Economical Center: Shanghai
- Highest Valued Company: Tencent
Japan:
The significant economy of Japan is characterized by its advanced manufacturing, technology, and service sectors. The automobile, electronic, manufacturing, and finance industries are prominent sectors. Additionally, Japan is admired for its persistent commitment to excellence, technical innovations, and remarkable GDP Countries in 2023 exports of the highest caliber.
- Population: 125.5 million
- Number of States: 47
- Capital: Tokyo
- Economical Center: Tokyo
- Highest Valued Company: Toyota
Germany:
Germany’s economy is renowned for its precision in various industries, including engineering, automotive, chemical, and pharmaceutical. A key aspect of this economic prowess lies in its strong emphasis on exports. Germany benefits from Best GDP Countries in 2023 from a highly skilled workforce, robust research and development programs, and a steadfast commitment to fostering innovation.
- Population: 83.2 million
- Number of States: 16
- Capital: Berlin
- Economical Center: Frankfurt
- Highest Valued Company: SAP
India:
The diverse and quickly expanding Indian economy is supported by important industries including information technology, services, agriculture, and manufacturing. The country makes use of its sizable domestic market, young, Popular GDP Countries in 2023 technologically savvy workforce, and growing middle class.
- Population: 1.412 billion
- Number of States: 28
- Capital: New Delhi
- Economical Center: Mumbai
- Highest Valued Company: Reliance Industries
United Kingdom:
The service, manufacturing, financial, and creative industries all play a role in the UK economy. London serves as a major financial hub, luring in international capital. The UK’s trade alliances and globalization also have a Most Popular Top 10 GDP Countries in 2023 impact on the country’s economic growth.
- Population: 67.2 million
- Number of States: 4
- Capital: London
- Economical Center: London
- Highest Valued Company: HSBC
France:
In 2023, France’s projected GDP is set to reach $2,920 billion USD. The French economy boasts diversity, encompassing sectors like aerospace, tourism, luxury products, and agriculture. Moreover, France is renowned for its robust GDP Countries social welfare system, advanced infrastructure, and substantial investments in research and development.
- Population: 65.2 million
- Number of States: 13
- Capital: Paris
- Economical Center: Paris
- Highest Valued Company: TotalEnergies
Canada:
Oil, gas, minerals, and lumber play a vital role in fueling the Canadian economy. Moreover, Canada boasts of a thriving service sector alongside its well-developed industrial sector. Furthermore, the nation displays an unwavering commitment Top most GDP Countries in 2023 to foster innovation and technological advancements.
- Population: 38.0 million
- Number of States: 10
- Capital: Ottawa
- Economical Center: Toronto
- Highest Valued Company: Royal Bank of Canada
Italy:
Italy, as the third-largest economy in the EU. It is internationally recognized for its strong and diligent agricultural industry, which consistently Top and Popular GDP Countries in 2023 demonstrating competitiveness. Additionally, Italy’s corporate sector holds significant influence and showcases remarkable innovation.
- Population: 60.4 million
- Number of States: 20
- Capital: Rome
- Economical Center: Milan
- Highest Valued Company: Eni
Brazil:
Brazil’s economy encompasses diverse sectors such as agriculture, mining, manufacturing, and services. Noteworthy is its Top GDP Countries significant global role in agricultural exports and production. The growth of Brazil’s economy is due to various factors.
- Population: 212.6 million
- Number of States: 26
- Capital: Brasília
- Economical Center: São Paulo
- Highest Valued Company: Petrobras
Top 10 GDP Countries in 2023:
| Rank | Country | Nominal GDP (USD) | GDP (PPP) (USD) |
| 1 | United States | 25.3 trillion | 25.3 trillion |
| 2 | China | 19.9 trillion | 31.2 trillion |
| 3 | Japan | 5.1 trillion | 5.1 trillion |
| 4 | Germany | 4.2 trillion | 4.7 trillion |
| 5 | India | 3.7 trillion | 13.0 trillion |
| 6 | United Kingdom | 2.9 trillion | 3.3 trillion |
| 7 | France | 2.8 trillion | 3.1 trillion |
| 8 | Canada | 2.2 trillion | 2.7 trillion |
| 9 | Italy | 2.1 trillion | 2.6 trillion |
| 10 | Brazil | 1.8 trillion | 2.4 trillion |
Top Countries Ranking as Per GDP:
| Rank | Country | 2023 (Billions) | 2024 | 2025 | 2026 | 2027 | 2028 |
| 1 | United States | 26,854.599 | 27,741.123 | 28,765.960 | 29,902.871 | 31,091.594 | 32,349.658 |
| 2 | China | 19,373.586 | 20,881.368 | 22,407.691 | 24,035.813 | 25,722.406 | 27,492.803 |
| 3 | Japan | 4,409.738 | 4,526.480 | 4,731.496 | 4,923.430 | 5,077.123 | 5,344.032 |
| 4 | Germany | 4,308.854 | 4,446.466 | 4,635.160 | 4,822.110 | 4,947.322 | 5,044.443 |
| 5 | India | 3,736.882 | 4,062.154 | 4,403.354 | 4,765.545 | 5,153.012 | 5,575.474 |
| 6 | United Kingdom | 3,158.938 | 3,375.217 | 3,573.614 | 3,792.705 | 4,015.519 | 4,245.423 |
| 7 | France | 2,923.489 | 3,018.894 | 3,133.395 | 3,232.744 | 3,321.712 | 3,390.900 |
| 8 | Russia | 2,062.649 | 2,118.252 | 2,159.054 | 2,206.010 | 2,234.733 | 2,266.255 |
| 9 | Canada | 2,089.674 | 2,178.816 | 2,280.955 | 2,385.395 | 2,492.361 | 2,605.184 |
| 10 | Italy | 2,169.745 | 2,217.748 | 2,285.284 | 2,347.432 | 2,406.849 | 2,450.426 |
| 11 | Brazil | 2,081.235 | 2,210.617 | 2,321.850 | 2,449.002 | 2,587.519 | 2,758.832 |
| 12 | Australia | 1,707.548 | 1,720.118 | 1,787.454 | 1,854.393 | 1,929.678 | 2,005.403 |
| 13 | South Korea | 1,721.909 | 1,792.727 | 1,870.628 | 1,949.776 | 2,033.334 | 2,123.030 |
| 14 | Mexico | 1,663.164 | 1,732.946 | 1,796.644 | 1,860.419 | 1,928.854 | 2,003.179 |
| 15 | Spain | 1,492.432 | 1,560.052 | 1,617.657 | 1,668.550 | 1,716.114 | 1,753.505 |
| 16 | Indonesia | 1,391.778 | 1,508.547 | 1,631.609 | 1,760.505 | 1,898.989 | 2,048.504 |
| 17 | Saudi Arabia | 1,061.902 | 1,082.076 | 1,120.109 | 1,161.992 | 1,207.509 | 1,256.783 |
| 18 | Netherlands | 1,080.880 | 1,135.120 | 1,175.499 | 1,214.303 | 1,251.471 | 1,284.130 |
| 19 | Turkey | 1,029.303 | 1,087.052 | 1,146.192 | 1,209.774 | 1,272.781 | 1,334.701 |
| 20 | Switzerland | 869.601 | 915.849 | 954.403 | 1,005.767 | 1,048.669 | 1,106.478 |
Top 10 Poorest Countries:
| Country | Population | Capital | Most Valuable Company | Economical Center |
| Burundi | 11.8 million | Gitega | NMB Bank | Bujumbura |
| Sierra Leone | 7.6 million | Freetown | Sierra Leone Commercial Bank | Freetown |
| Malawi | 19.4 million | Lilongwe | Standard Bank Malawi | Blantyre |
| Central African Republic | 4.8 million | Bangui | Banque Commerciale Centrafricaine | Bangui |
| Madagascar | 28.2 million | Antananarivo | Air Madagascar | Antananarivo |
| Somalia | 15.9 million | Mogadishu | Dahabshiil | Mogadishu |
| South Sudan | 11.2 million | Juba | South Sudan National Petroleum Corporation | Juba |
| Niger | 23.2 million | Niamey | Banque Internationale du Niger | Niamey |
| Mozambique | 31.2 million | Maputo | Millenium BIM | Maputo |
| Eritrea | 3.5 million | Asmara | Commercial Bank of Eritrea | Asmara |
FAQs about Top 10 GDP Countries in 2023:
Which country will have the highest GDP in 2023?
The United States upholds its status as the major global economy and richest country, steadfastly preserving its pinnacle position from 1960 to 2023. Its economy boasts remarkable diversity, propelled by important sectors, including services, manufacturing, finance, and technology.
What will GDP growth be in 2023?
Under our baseline forecast, growth will slow down slightly less than projected, from 3.5 percent last year to 3 percent this year, a 0.2 percentage point upward revision for 2023. The slowdown is especially concentrated in advanced economies, where growth will fall from 2.7 percent last year to 1.5 percent this year.
Which country has the lowest GDP in the world 2023?
The country with the lowest GDP in the world is Nauru, with a value of $133.2 million. Palau, Marshall Islands, Federated States of Micronesia, and São Tomé and Príncipe are some other countries with low GDPs.
What is the rank of India’s economy in the world in 2023?
For the entire fiscal 2022-23, the growth rate came in at 7.2 percent underscoring the country’s economic resilience amid geopolitical conflicts and global headwinds. “India’s GDP has reached $3.75 trillion in 2023, from around $2 trillion in 2014; moving from 10th largest to 5th largest economy in the world.
Which state has the highest GDP in India?
India’s state with the highest GDP is Maharashtra. In 2022–2023, its Gross State Domestic Product (GSDP) will be $28,18,55,457. The state is a significant center for business, trade, and industry and is home to Mumbai, the financial center of India.
What is the GDP target of India in 2023?
Fitch raises India’s GDP forecast to 6.3% for the current fiscal year. Fitch Ratings has revised India’s economic growth forecast for the fiscal year 2023-24 to 6.3 percent, up from the earlier estimation.
Which is the fastest-growing major economy in 2023?
The IMF now expects India to grow 6.1% in 2023 and 6.3% in 2024. China forecasts remain unchanged at 5.2% this year and 4.5% next year. Japan is seen growing 1.4% this year and 1% next year.
What will be the GDP of India in 2023 in percentage?
The Indian economy expanded 6.1% year-on-year in Q1 2023, higher than an upwardly revised 4.5% in Q4 2022 and well above market forecasts of 5%. The expansion was mainly boosted by private consumption, services exports and manufacturing amid easing input cost pressures.
What is the poorest country in the world 2023?
In the world, the poorest countries are mostly located in Africa and Asia, with Burundi being the poorest country followed by Somalia, Mozambique, Central African Republic, and Madagascar.
Is India is a rich country?
Even though India’s GDP is 3 trillion but still India is not in the line of World’s Richest Country. Because India has a huge population. Friends, the government of our country also has to spend money for every citizen of the country.
Conclusion:
According to the latest data, the Top 10 GDP Countries and having the strongest economy are the United States, China, Japan, Germany, India, the United Kingdom, France, Italy, Brazil, and Canada. These nations exert significant global influence due to their economic power. Ranking in twelfth place is South Korea with its robust economy closely followed by Spain, Australia, and Mexico. Notably positioned as the eleventh-largest in terms of GDP is Russia.
