World Economy Ranking:- According to their GDP data, India, China, Japan, Germany, and the United States of America will be the world’s largest economies in 2024. Gross domestic product fills in as a vital measurement for surveying the extent of a country’s economy. The expenditure method is the traditional method for estimating a nation’s GDP. In this method, the total is calculated by adding up expenditure on new investments, new consumer goods, government spending, and the net value of exports.
Find out the most recent information about the Top 10 Countries with the Largest Economy in 2024 and the World Economy Ranking in 2024. Today India is considered as a real part of the main five economies of the world and the story behind it is extremely lengthy. Know here the record of the excursion of the Indian economy from tenth to fifth position.
World Economy Ranking 2024
if you want comprehensive information about the World Economy Ranking 2024. In this article, we will find out about the World Gross domestic product 2024 Positioning. The Unified Countries said that India will stay the quickest developing significant economy on the planet this year, enrolling a development pace of 5.8 percent, while the development pace of the remainder of the world is just 1.9 percent.
The World Economy Ranking of India for the year 2024 is the topic of this discussion. India has recently surpassed the United Kingdom to become the fifth largest economy in the world. Presently just the US, China, Japan, and Germany have greater economies than India.
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World Economy Ranking 2024 Overview
| Post Title | World Economy Ranking 2024 |
| Category | Trending |
| Organization | International Monetary Fund |
| Released by | IMF |
| Year | 2024 |
| World Economy 2024 | $105 Trillion |
| Official website | @imf.org |
What Is GDP And How Is It Calculated?
Gross domestic product or GDP is a proportion of the all out worth of all labor and products delivered inside a nation’s lines in a particular time span, regularly a monetary year. It is determined by adding the values of consumption, investment, government spending, and net exports exports less imports together. Economists and policymakers can use this calculation to examine economic growth and development because it provides a comprehensive picture of a nation’s economic activity.
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World Economy Ranking 2024 list
The following is a list of the ten richest countries in the world, based on data from the International Monetary Fund and Visual Capitalist for October 2022 (World Economy Ranking 2024 Top 10 countries).
- America, US$ 25.035 trillion
- China, US$ 18.321 trillion
- Japan, US$ 4.301 trillion
- Germany, US$ 4.031 trillion
- India, US$ 3.469 trillion
- UK, US$ 3.199 trillion
- France, US$ 2.778 trillion
- Canada, US$ 2.2 trillion
- Russia, US$ 2.113 trillion
- Italy, US $ 1.99 trillion
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World Economy Ranking 2024 Top 10
- The United States– it has an ostensible Gross domestic product of $21.44 trillion and positions first among the world’s biggest economies and second on the planet for the assessed worth of normal assets.
- China – China is the world’s second biggest economy with an ostensible Gross domestic product of $14.14 trillion and a Gross domestic product (PPP) of $27.31 trillion.
- Japan– Japan is the world’s third biggest economy with a Gross domestic product of $5.15 trillion and a Gross domestic product (PPP) of $5.75 trillion
- Germany– has a Gross domestic product of $4.0 trillion and a for every capita Gross domestic product of $46,560, Germany is the fourth biggest economy on the planet.
- India– With a GDP of $3.5 trillion in 2022, India is expected to become the fifth largest economy in the world.
- United Kingdom– The Unified Realm, with a Gross domestic product of $2.83 trillion, is the 6th biggest economy on the planet. The UK is supposed to turn into the seventh biggest economy by 2024.
- France– France has the third-largest economy in Europe and the seventh-largest economy in the world, with a nominal GDP of $2.71 trillion and a GDP per capita of $42,877.56.
- Italy– With an ostensible Gross domestic product of $1.99 trillion, Italy is the eighth biggest economy on the planet. Italy has a GDP of $34,260.34 per person and an economy worth $2.40 trillion.
- Brazil – Brazil is the 10th biggest economy on the planet and the biggest and most crowded country in Latin America with an ostensible Gross domestic product of $1.85 trillion.
- Canada– Canada is the tenth largest economy in the world, with a GDP of $1.73 trillion and a GDP per capita of $46,260.71. Canada’s Gross domestic product is supposed to develop to $2.13 trillion by 2024.
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World Economy Ranking 2024 in Trillion
Before the current year’s over, World Economy Ranking 2024 Positioning 2024 will have crossed Total national output ( World Gross domestic product 2024 Positioning) of 105$ Trillion. The International Monetary Fund (IMF) uses the World Economy from the previous year to calculate this GDP.
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World Economy Ranking 2024 Top 30
- United States of America
- China
- Japan
- Germany
- India
- United Kingdom
- France
- Italy
- Canada
- Brazil
- Russia
- South Korea
- Australia
- Mexico
- Spain
- Indonesia
- Netherland
- Saudi Arabia19. Turkey
- Switzerland
- Taiwan
- Poland
- Argentina
- Belgium
- Sweden
- Ireland
- Thailand
- Norway
- Israel
- Singapore
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World Economy Ranking 2024 IMF
As indicated by the Global Financial Asset, the US, China, and Japan are the world’s three biggest economies as estimated by ostensible Gross domestic product, separately. India’s development rate for the monetary year 2024 (World Gross domestic product Positioning 2024 India) is assessed to be 6.1%, somewhat more slow than the other world’s economies, yet higher than the worldwide normal. In 2024, India will contribute around 15% to the worldwide development.
World Economy Ranking 2024 FAQ’S
Which economy will grow most in 2024?
IMF raises growth forecast for India, which is set to be fastest growing major economy in 2024.
How big is the world economy in 2024?
The World’s GDP is 112.6 trillion in 2024 as against 103.86 trillion as on 2022, list shows historical, present and future values for all the countries from 2020 to 2026.
What is the world GDP ranking of India in 2024?
According to the World GDP Ranking 2024 list, India is the fifth largest economy in the world. Other prominent countries like the United States of America, China, Japan, Germany, etc., have a significant presence in this GDP Ranking list.
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