Global economies ranked: Top 10 global economies of 2021

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As the year draws to a close many will be looking back on how the world’s economies have performed this year. In such turbulent times, it’s interesting to see which economies have performed well and which have performed poorly. Here’s a round-up of the top 10 global economies.

Gross domestic product (GDP) is the standard measure used to estimate the size of a country’s economy.

GDP is an estimate of the total value of a country’s finished goods and services produced within their borders over a specified time (usually this is a year).

A country’s GDP can fluctuate year on year, but often the world’s biggest economies manage to hold onto their top spots.

But the coronavirus pandemic has thrown the world into financial turmoil.

The pandemic has caused the tourism sector to crash, lowered trade volumes and has heavily impacted the price of fuel and construction materials.

This has meant those with the most diversified economies have tended to do better.

What are the top ten economies in the world?

Unsurprisingly the United States continues to dominate the total global economy, it has been ranked the biggest economy in the world by Investopedia.

China follows closely behind in second, while the UK lags behind in fifth place.

Here are the top ten economies in the world as ranked by Investopedia:

  • United States
  • China
  • Japan
  • Germany
  • United Kingdom
  • India
  • France
  • Italy
  • Canada
  • South Korea

Staggeringly the top 25 global economies make up more than 75 percent of the total global economy.

The US makes up a whopping 24.67 percent of the total global economy according to the latest research by World Bank.

China also makes up a significant percentage of the global economy, a staggering 17.39 percent can be attributed to it.

Japan as the third-largest economy makes up a whopping 5.97 percent.

How is the UK’s economy doing on a world stage?

The UK may be holding onto its top fifth position, but India is following closely behind.

The UK’s nominal GDP in 2020 was $2.76 trillion (USD) accord to the World Bank.

This marks a 9.7 percent fall from the previous year. India, in sixth position, is closing the gap between itself and the UK. In 2020 India’s nominal GDP stood at $2.66 trillion (USD).

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