World GDP Ranking 2024 serves as a key metric for assessing the magnitude of a nation’s economy. This ranking provides insights into the relative economic strength and performance of countries on a global scale.
India’s Position in World GDP Ranking 2024 Top 100
India is the world’s fifth-largest economy, behind the US, China, Japan, Germany, and other economic giants, according to the most recent World GDP Ranking 2024 top 100. India’s considerable economic strength and expanding global influence are reflected in this list.
India exhibits great economic prosperity as evidenced by its GDP Per Capita, which shows significant output per person of India GDP rank. With a 2.85% annual growth rate in per capita income projected for 2024, India has significantly raised the standard of living for its people. India’s GDP per capita ranking has increased dramatically over the last ten years, demonstrating the country’s persistent attempts at economic growth and development.
India’s GDP Growth Rate Trends:
India GDP rank in the past ten years has demonstrated both its durability and its capacity for additional growth. India has maintained an impressive development rate in spite of obstacles like the COVID-19 pandemic and the global financial crisis. India’s economy has shown strong success in the face of numerous economic changes, with an estimated annual growth rate of 6.8% in 2023, up from 6.39% in 2013.
10 Largest Economy in the World
With a GDP of almost > $20 trillion, the United States dominates the international economy as being a lead as one of the 10 largest economy in the world. China, which has been making significant investments in economic growth, is not far behind. Other prominent countries in the top 10 are the UK, Germany, and India.
The top 10 GDP-producing nations for 2024 are broken out as follows which will surely also ne the largest economies in the world 2050.
| Country | GDP ($B) | GDP Per Capita ($ thousand) |
| United States Of America (U.S.A) | 28,783 | 85.37 |
| China | 18,536 | 13.14 |
| Germany | 4,730 | 56.29 |
| Japan | 4,112 | 34.14 |
| India | 3,942 | 2.73 |
| United Kingdom (U.K.) | 3,502 | 51.07 |
| France | 3,132 | 47.36 |
| Brazil | 2,333 | 11.35 |
| Italy | 2,332 | 39.58 |
| Canada | 2,242 | 54.87 |
Recognizing the Leading Economies in the World
India GDP rank on 5th in the world GDP, India has highly grown his economy in past 10 years.
Powerhouse nations including the United States, China, Japan, Germany, India, the United Kingdom, France, Italy, Brazil, and Canada influence the global economic environment.
1. United States
With a nominal GDP of $21.44 trillion, the United States has been the greatest economy in the world for more than a century. Its substantial manufacturing sector, which is ranked second only to China’s, and diversified population serve as important sources of economic strength. Furthermore, the dollar from the United States continues to be the most commonly utilized currency in global trade.
2. China
China has experienced an incredible economic rise. China’s GDP has grown at an average rate of more than 9% between 1989 and 2019, making it the second largest in the world. Its purchasing power parity (PPP) GDP is a staggering $27.31 trillion, although its nominal GDP is $14.14 trillion. China has experienced significant growth due to a successful economic reform program that was started in 1978 as well as investments in industry and education.
3. Japan
Japan is the third-biggest economy in the world, with a $5.15 trillion GDP. Japan’s major industries, including electronics and automotive manufacture, enable it to sustain its economic strength in the face of obstacles like a shrinking population and a huge national debt. Although the 2008 financial crisis severely damaged the country’s economy, the 2020 Olympics are anticipated to give it a much-needed boost.
4. Germany
With a $4.0 trillion GDP, Germany’s highly developed social market economy ranks it fourth in the world’s economic rankings. Germany is a global leader in areas such chemicals, machinery, and automobile production because of its highly qualified workforce and emphasis on innovation. Germany’s embrace of Industry 4.0, which integrates IT and networking in manufacturing, highlights its determination to staying at the forefront of technological innovation, despite the hurdles brought by the 2008 financial crisis.
5. India
GDP of India 2024 economy is ranked fifth in the world, India’s GDP grown in last 10 years by 7 percent CAGR in USD term’s to USD 3.6 trillion, jump from 8th to 5th position in the world GDP ranking.
With a GDP of $2.94 trillion beating both the UK and France in 2019. India’s economic liberalization in the 1990s has sparked tremendous growth despite the country’s large population and comparatively low GDP per capita ranking of $2,170. Along with manufacturing and agriculture, the service sector—which makes up 60% of the economy—plays a significant role in propelling India’s economic growth.
6. The United Kingdom
With a GDP of $2.83 trillion, the United Kingdom is ranked sixth in the world economy. The UK, a leader in industrialization, has a mostly service-based economy, with financial services accounting for 80% of GDP. Notwithstanding uncertainty brought about by issues like Brexit and waning manufacturing sectors, the UK is still a powerful economic powerhouse.
7. France
France has a nominal GDP of $2.71 trillion, placing it eighth in the world GDP ranking in terms of economic strength. Although high unemployment has been a worry, France’s resiliency as an agricultural leader and popular travel destination is highlighted.
8. Italy
With a nominal GDP of $1.99 trillion, Italy is ranked ninth in the world’s economies. The revival of the economy is fueled by Italy’s exports, which include luxury and machinery goods, despite obstacles including high unemployment and debt levels. Italy’s transition from an agricultural economy to a contemporary industrial one demonstrates its flexibility and durability.
9. Brazil
With a nominal GDP of $1.85 trillion, Brazil, the largest economy in Latin America, is ranked ninth in the world. Brazil, abundant in natural resources such as minerals and lumber, grew quickly between 2000 and 2012. But there are still issues with economic inequality and corruption, which emphasizes the necessity for inclusive growth plans.
10. Canada
The ten greatest economies in the world are rounded off by Canada, with a nominal GDP of $1.73 trillion. Natural resource wealth, particularly in the energy sector, contributes to Canada’s robust economy. Canada is known for having strong trade ties and less corruption, and it plays a significant role in the global economy.
Conclusion:
In summary of world economy ranking, these 10 economies—each with its own advantages and disadvantages—have a significant influence on the global financial scene.
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