Discover the top 10 largest economies in 2024 and how global economic growth shapes the future.
GDP is a crucial measure of a nation’s economy. The most common method of calculating it is through the expenditure method, which sums up spending on new consumer goods, investments, government spending, and net exports. In this article, we’ll explore the ten largest economies in the world for 2024, ranked by GDP.
Top 10 Largest Economies in the World (2024)
The top five economies by GDP in 2024 are the U.S., China, Germany, Japan, and India. Let’s dive into the top 10 wealthiest countries according to IMF data (as of September 11, 2024):
| Rank & Country | GDP (USD) | 2024 Projected Real GDP (% Change) | GDP Per Capita (USD) |
| #1 United States | $28.78 trillion | 2.6% | $85.37 thousand |
| #2 China | $18.53 trillion | 5% | $13.14 thousand |
| #3 Germany | $4.59 trillion | 0.2% | $54.29 thousand |
| #4 Japan | $4.11 trillion | 0.7% | $33.14 thousand |
| #5 India | $3.94 trillion | 7% | $2.73 thousand |
| #6 United Kingdom | $3.5 trillion | 0.7% | $51.07 thousand |
| #7 France | $3.13 trillion | 0.9% | $47.36 thousand |
| #8 Brazil | $2.33 trillion | 2.1% | $11.35 thousand |
| #9 Italy | $2.33 trillion | 0.7% | $39.58 thousand |
| #10 Canada | $2.24 trillion | 1.3% | $54.87 thousand |
Next 10 Largest Economies
| Rank & Country | GDP (USD billion) |
| #11 Russia | $2.06 trillion |
| #12 Mexico | $2.02 trillion |
| #13 Australia | $1.79 trillion |
| #14 South Korea | $1.76 trillion |
| #15 Spain | $1.65 trillion |
| #16 Indonesia | $1.48 trillion |
| #17 Netherlands | $1.14 trillion |
| #18 Türkiye | $1.11 trillion |
| #19 Saudi Arabia | $1.11 trillion |
| #20 Switzerland | $938.46 billion |
Highlights of the World’s Largest Economies in 2024
United States
- Region: North America
- GDP Growth Rate: 2.7%
- The U.S. remains the most significant global economy, with a GDP of $28.78 trillion in 2024. It has held this position since 1960, driven by sectors like services, manufacturing, finance, and technology. Its large consumer market, innovation, and robust business environment make it the top economic powerhouse.
China
- Region: East Asia
- GDP Growth Rate: 4.6%
- China has become the second-largest economy, focusing on manufacturing, exports, and investment. A large workforce, government support, and expanding infrastructure contribute to China’s economic growth.
Germany
- Region: Europe
- GDP Growth Rate: 0.2%
- Germany is known for its export-oriented solid economy, excelling in engineering, automotive, and pharmaceutical industries. Its skilled workforce and focus on innovation keep it a global leader.
Japan
- Region: East Asia
- GDP Growth Rate: 0.9%
- Japan’s economy is powered by its technology sector, manufacturing, and services. Key industries include automotive, electronics, and finance. Japan is also known for its dedication to technological innovation and high-quality exports.
India
- Region: South Asia
- GDP Growth Rate: 7%
- India’s economy has proliferated, with a projected GDP growth of 7% in 2024, driven by increased household spending and key sectors like I.T., services, agriculture, and manufacturing.
United Kingdom
- Region: Western Europe
- GDP Growth Rate: 0.5%
- The U.K. economy is diverse, with services, manufacturing, and finance strengths. London serves as a significant financial hub, drawing in global investments.
France
- Region: Western Europe
- GDP Growth Rate: 0.7%
- France’s economy is marked by its focus on industries like aerospace, tourism, and luxury goods. The country has a robust infrastructure and social welfare system, helping drive growth.
Brazil
- Region: South America
- GDP Growth Rate: 2.2%
- Brazil has a broad economy with strengths in agriculture, mining, and manufacturing. Its agricultural exports and domestic consumption shape its economic growth.
Italy
- Region: Southern Europe
- GDP Growth Rate: 0.7%
- Italy has a well-developed market economy, known for its businesses in various sectors and a strong agricultural industry.
Canada
- Region: North America
- GDP Growth Rate: 1.2%
- Canada’s economy relies on natural resources like oil, gas, and timber. It also has a vibrant services and manufacturing sector, which is focused on innovation.
These economies represent the largest and most influential global markets 2024, driving world growth through innovation, industry, and consumer demand.
