Top 100 Richest Countries by GDP

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The 20 economies leading the top 100 richest countries showcased in this article generated about two-thirds (66.4 percent) of the world’s overall Gross Domestic Product (GDP).

The latest global GDP metric was US$198.208 trillion at October 2023 That dollar statistic results from a 96.5 percent advance from $100.861 trillion in 2012.

<p>From 2022 to 2023, the world’s overall GDP increased by 5.8 percent compared to $187.257 trillion during 2022.

GDP measures the total economic activity in a specific country, including both products and services, regardless if the actual profits technically belong to a firm’s parent country which happens to be in another country. Significant as a measure for a nation’s prosperity, GDP aspires to quantify the total productivity for each nation’s economy.

GDP is also known as a coincident economic indicator according to The Economist, given that it benchmarks the reference point for the overall state-of-the-economy cycle.

<p>The figures in this report were calculated using a Purchasing Power Parity (PPP) basis as of October 2023, according to the International Monetary Fund’s calculations. PPP adjusts for country-specific prices paid for goods and services.

Our sortable table entitled World’s 100 Wealthiest Economies by GDP Rank is presented further down in this study. This analysis, however, starts by focusing in on the top 20 GDP leaders.

Top 20 Richest Countries by GDP Scores

The following 20 economies generated the highest amount of economic wealth in terms of GDP on a Purchasing Power Parity basis.

1. China: US$32.898 trillion (up 10.2% from 2022)

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2. United States: $26.950 trillion (up 9.2%)

3. India: $13.120 trillion (up 14.8%)

4. Japan: $6.495 trillion (up 8.1%)

5. Germany: $5.538 trillion (up 8.9%)

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6. Russia: $5.056 trillion (up 4.8%)

7. Indonesia: $4.393 trillion (up 12.7%)

8. Brazil: $4.101 trillion (up 10.1%)

9. United Kingdom: $3.872 trillion (up 11.4%)

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10. France: $3.869 trillion (up 9.7%)

11. Türkiye: $3.614 trillion (up 12.9%)

12. Mexico: $3.278 trillion (up 11.2%)

13. Italy: $3.193 trillion (up 11%)

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14. South Korea: $2.924 trillion (up 9.8%)

15. Spain: $2.413 trillion (up 13.2%)

16. Canada: $2.379 trillion (up 10.7%)

17. Saudi Arabia: $2.247 trillion (up 16.4%)

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18. Egypt: $1.809 trillion (up 14.1%)

19. Iran: $1.726 trillion (up 11%)

20. Australia: $1.719 trillion (up 11%)

Fourteen of the world’s richest economies posted double-digit gains in their GDP scores from 2022 to 2023.

<p>The leading GDP gainers were Saudi Arabia (up 16.4% from 2022), India (up 14.8%), Egypt (up 14.1%), Spain (up 13.2%), Türkiye (up 12.9%), Indonesia (up 12.7%), United Kingdom (up 11.4%), Mexico (up 11.2%), Iran (up 11%), Italy (up 11%), Australia (also up 11%), Canada (up 10.7%), mainland China (up 10.2%), then Brazil (up 10.1%).

The slowest year-over-year growth among the 20 biggest GDP economies belongs to the United States of America (up 9.2% from 2022), Germany (up 8.9%), Japan (up 8.1%) and Russia (up 4.8%).

World’s 100 Wealthiest Economies by GDP Rank

Use the pre-sorted list below to search by country name, 2023 GDP amount and percentage change since 2022.

1. China: US$32,897,929,000,000 (up 10.2% from 2022)
2. United States: $26,949,643,000,000 (up 9.2%)
3. India: $13,119,622,000,000 (up 14.8%)
4. Japan: $6,495,214,000,000 (up 8.1%)
5. Germany: $5,537,992,000,000 (up 8.9%)
6. Russia: $5,056,479,000,000 (up 4.8%)
7. Indonesia: $4,393,370,000,000 (up 12.7%)
8. Brazil: $4,101,022,000,000 (up 10.1%)
9. United Kingdom: $3,871,790,000,000 (up 11.4%)
10. France: $3,868,619,000,000 (up 9.7%)
11. Türkiye: $3,613,540,000,000 (up 12.9%)
12. Mexico: $3,277,601,000,000 (up 11.2%)
13. Italy: $3,193,180,000,000 (up 11%)
14. South Korea: $2,924,189,000,000 (up 9.8%)
15. Spain: $2,413,066,000,000 (up 13.2%)
16. Canada: $2,378,973,000,000 (up 10.7%)
17. Saudi Arabia: $2,246,535,000,000 (up 16.4%)
18. Egypt: $1,809,425,000,000 (up 14.1%)
19. Iran: $1,725,874,000,000 (up 11%)
20. Australia: $1,719,262,000,000 (up 11%)
21. Poland: $1,712,629,000,000 (up 12.5%)
22. Taiwan: $1,685,358,000,000 (up 9.5%)
23. Thailand: $1,578,452,000,000 (up 9.8%)
24. Pakistan: $1,568,427,000,000 (up 13.5%)
25. Bangladesh: $1,476,870,000,000 (up 14%)
26. Vietnam: $1,434,211,000,000 (up 15.6%)
27. Nigeria: $1,365,903,000,000 (up 10.5%)
28. Netherlands: $1,297,024,000,000 (up 11.6%)
29. Philippines: $1,278,624,000,000 (up 15.1%)
30. Argentina: $1,239,515,000,000 (up 12.3%)
31. Malaysia: $1,225,927,000,000 (up 16.3%)
32. Colombia: $1,016,124,000,000 (up 14.8%)
33. South Africa: $997,444,000,000 (up 9%)
34. United Arab Emirates: $895,166,000,000 (up 15.4%)
35. Switzerland: $788,335,000,000 (up 9.9%)
36. Romania: $780,797,000,000 (up 12.1%)
37. Belgium: $769,682,000,000 (up 10.5%)
38. Singapore: $753,273,000,000 (up 10.9%)
39. Ireland: $722,929,000,000 (up 17.1%)
40. Sweden: $715,995,000,000 (up 10%)
41. Kazakhstan: $654,050,000,000 (up 10.5%)
42. Algeria: $628,990,000,000 (up 10.4%)
43. Austria: $626,458,000,000 (up 12.2%)
44. Chile: $597,520,000,000 (up 9.6%)
45. Hong Kong: $548,999,000,000 (up 3.3%)
46. Peru: $548,465,000,000 (up 9.9%)
47. Czech Republic: $539,318,000,000 (up 9.5%)
48. Israel: $537,140,000,000 (up 13.9%)
49. Iraq: $508,973,000,000 (up 14.5%)
50. Ukraine: $474,773,000,000 (down -24.1%)
51. Portugal: $465,131,000,000 (up 14.2%)
52. Norway: $452,964,000,000 (up 10.5%)
53. Denmark: $441,754,000,000 (up 9.9%)
54. Hungary: $421,683,000,000 (up 11.9%)
55. Greece: $416,969,000,000 (up 13.3%)
56. Ethiopia: $393,297,000,000 (up 13.8%)
57. Morocco: $385,337,000,000 (up 8.4%)
58. Uzbekistan: $371,646,000,000 (up 13.1%)
59. Kenya: $338,964,000,000 (up 12.2%)
60. Finland: $335,760,000,000 (up 8.7%)
61. Qatar: $328,134,000,000 (up 12.2%)
62. Sri Lanka: $319,523,000,000 (down -1.4%)
63. New Zealand: $279,183,000,000 (up 9.8%)
64. Myanmar: $277,767,000,000 (up 9.1%)
65. Dominican Republic: $273,703,000,000 (up 12.2%)
66. Angola: $260,323,000,000 (up 10.3%)
67. Kuwait: $256,593,000,000 (up 16.5%)
68. Ecuador: $242,579,000,000 (up 10.2%)
69. Slovak Republic: $229,584,000,000 (up 8.8%)
70. Tanzania: $227,725,000,000 (up 12%)
71. Ghana: $227,189,000,000 (up 10.3%)
72. Belarus: $221,186,000,000 (up 3.1%)
73. Bulgaria: $216,499,000,000 (up 10.6%)
74. Venezuela: $211,926,000,000 (up 15.6%)
75. Ivory Coast: $202,647,000,000 (up 14.2%)
76. Guatemala: $201,365,000,000 (up 11.4%)
77. Oman: $200,295,000,000 (up 11.6%)
78. Azerbaijan: $192,146,000,000 (up 11.9%)
79. Panama: $190,306,000,000 (up 18.6%)
80. Serbia: $173,075,000,000 (up 9.4%)
81. Sudan: $172,651,000,000 (up 4.3%)
82. Libya: $166,887,000,000 (down -3.3%)
83. Croatia: $164,672,000,000 (up 13.7%)
84. Tunisia: $162,097,000,000 (up 9.7%)
85. Republic Congo: $150,883,000,000 (up 16.5%)
86. Nepal: $150,800,000,000 (up 13%)
87. Uganda: $145,157,000,000 (up 13.9%)
88. Costa Rica: $141,527,000,000 (up 11.6%)
89. Lithuania: $137,328,000,000 (up 9%)
90. Cameroon: $133,335,000,000 (up 11%)
91. Jordan: $132,092,000,000 (up 9.7%)
92. Puerto Rico: $132,052,000,000 (up 9.1%)
93. Turkmenistan: $126,132,000,000 (up 8.7%)
94. Bolivia: $125,428,000,000 (up 10.7%)
95. Paraguay: $117,349,000,000 (up 7.1%)
96. Slovenia: $108,683,000,000 (up 9.6%)
97. Uruguay: $103,372,000,000 (up 12.3%)
98. Cambodia: $98,319,000,000 (up 12.6%)
99. Bahrain: $95,973,000,000 (up 12.2%)
100. Luxembourg: $94,152,000,000 (up 8.5%)

The fastest year-over-year changes were generated by Panama (GDP up 18.6% from 2022), Ireland (up 17.1%), Kuwait (up 16.5%), Democratic Republic of the Congo (also up 16.5%), Saudi Arabia (up 16.4%), Malaysia (up 16.3%), Vietnam (up 15.6%), Venezuela (also up 15.6%), United Arab Emirates (up 15.4%) and the Philippines (up 15.1%).

GDP Cycles: Boom Versus Bust

<p>According to The Economist, two consecutive quarters of falling GDP technically marks a recession. Other economists define a recession as a year-over-year fall in GDP.

Based on an annual drop in GDP, three economies among the 100 richest countries experienced a recessionary period from 2022 to 2023. The recession-hit economies in the latest annual period were Ukraine (down by -24.1% compared to 2022), Libya (down -3.3%) and Sri Lanka (down -1.4%).

Let’s think beyond the cold economic theory box. There is another type of recession known as a “growth recession” even though GDP is expanding. This is when a nation’s annual GDP growth fails to attain its long-term productive potential. For example, financial analysts point to Japan’s yearly GDP persistently dropping below 3 percent prior to 2022.

Focusing on the most recent metrics, four out of the 100 richest countries improved their GDP scores by less than 5 percent. The four slowest gainers were Belarus (up 3.1% from 2022), Hong Kong (up 3.3%), Sudan (up 4.3%) and Russia (up 4.8%).

GDP Exclusions

Note that GDP does not include every possible transaction that an individual economy generates.

<p>Listed below are examples of items specifically excluded from GDP.

• Transfer payments including government-provided social security and pensions;
• Barter transactions such as exchanging a power drill for a case of beer;
• Second-hand or used products notably automobiles produced in a prior year; and
• Unfinished intermediate goods such as a piece of metal sold before its final sale as a finished component of a dishwasher.

 

See also Top 100 Poorest Countries by GDP, Top 100 Poorest Countries by GDP per Capita, Latest Richest Countries Ranked by GDP per Capita, Exchange Rates for Top 25 Richest Countries, Central Bank Interest Rates and Wealthiest Continents per Person by Country 

Research Reference Materials:
Central Intelligence Agency, The World Factbook Country Comparison: GDP (Purchasing Power Parity). Accessed on November 4, 2023

International Monetary Fund, World Economic Outlook Databases. Accessed on November 4, 2023

<p>Investopedia, What Is Purchasing Power Parity?. Accessed on November 4, 2023

The Economist, Guide to Economic Indicators: Making Sense of Economics (7th Edition). Accessed on November 4, 2023

Trading Economics, Economic Indicators by Category. Accessed on November 4, 2023

World Bank, GDP, PPP (current international $). Accessed on November 4, 2023