Home Economics Visualize the $ 94 trillion world financial system on a graph

Visualize the $ 94 trillion world financial system on a graph

Visualize the $ 94 trillion world economy on a graph

The 94 trillion US greenback world financial system on a chart

Take a look at the expanded model of this infographic.

Solely 4 international locations – the US, China, Japan and Germany – make over half of world financial output in keeping with gross home product (GDP) nominal. In actual fact, the US GDP alone is bigger than the mixed GDP of 170 international locations.

How do the totally different economies of the world evaluate? On this visualization, we take into account GDP by nation in 2021 utilizing information and estimates from the Worldwide Financial Fund (IMF).

An outline of GDP

GDP serves as a broad indicator of a rustic’s financial efficiency. It measures the full market worth of the top services produced in a rustic over a given time-frame, similar to 1 / 4 or a 12 months. As well as, GDP additionally takes under consideration the efficiency of companies supplied by the federal government, similar to cash for protection, well being or schooling.

On the whole, a rise in a rustic’s GDP is an indication of elevated financial exercise, benefiting employees and companies (whereas a lower is the other).

The world financial system: prime 50 international locations

Who’s making the most important contribution to the worldwide financial system? Right here is the rating of the 50 largest international locations by GDP in 2021:

Rank Nation GDP ($ T)% of world GDP

1🇺🇸 US $ 22,924.4%

2🇨🇳 China 16.917.9%

3🇯🇵 Japan $ 5.15.4%

4🇩🇪 Germany 4.24.5%

5🇬🇧 UK $ 3.13.3%

6🇮🇳 India 2.93.1%

7🇫🇷 France 2.93.1%

8🇮🇹 Italy $ 2.12.3%

9🇨🇦 Canada $ 2.02.1%

10🇰🇷 Korea 1.81.9%

11🇷🇺 Russia 1.61.7%

12🇧🇷 Brazil 1.61.7%

13🇦🇺 Australia 1.61.7%

14🇪🇸 Spain 1.41.5%

15🇲🇽 Mexico $ 1.31.4%

16🇮🇩 Indonesia 1.21.2%

17🇮🇷 Iran $ 1.11.1%

18🇳🇱 Netherlands1.01.1%

19🇸🇦 Saudi Arabia $ 0.80.9%

20🇨🇭 Switzerland $ 0.80.9%

21🇹🇷 Turkey $ 0.80.8%

22🇹🇼 Taiwan 0.80.8%

23🇵🇱 Poland $ 0.70.7%

24 Sweden $ 0.60.7%

25🇧🇪 Belgium $ 0.60.6%

26🇹🇭 Thailand $ 0.50.6%

27🇮🇪 Ireland0.50.5%

28🇦🇹 Austria0.50.5%

29🇳🇬 Nigeria $ 0.50.5%

30🇮🇱 Israel 0.50.5%

31🇦🇷 Argentina $ 0.50.5%

32🇳🇴 Norway $ 0.40.5%

33🇿🇦 South Africa $ 0.40.4%

34🇦🇪 United Arab Emirates 0.40.4%

35🇩🇰 Denmark $ 0.4 0.4%

36🇪🇬 Egypt € 0.40 0.4%

37🇵🇭 Philippines $ 0.4 0.4%

38🇸🇬 Singapore $ 0.4 0.4%

39🇲🇾 Malaysia $ 0.4 0.4%

40🇭🇰 Hong Kong SAR $ 0.40.4%

41🇻🇳 Vietnam € 0.40 0.4%

42🇧🇩 Bangladesh $ 0.40.4%

43🇨🇱 Chile $ 0.30.4%

44🇨🇴 Colombia 0.30.3%

45🇫🇮 Finland 0.30.3%

46🇷🇴 Romania 0.30.3%

47🇨🇿 Czech Republic $ 0.30.3%

48🇵🇹 Portugal $ 0.30.3

49🇳🇿 New Zealand $ 0.20.3%

50🇵🇪 Peru $ 0.20.2%

On the $ 22.9 trillion, US GDP accounts for round 25% of the worldwide financial system, a proportion that has truly modified considerably over the previous 60 years. The finance, insurance coverage, and actual property industries ($ 4.7 trillion) are the biggest contributors to the nation’s financial system, adopted by skilled and enterprise companies ($ 2.7 trillion) and authorities ($ 2.6 trillion). Greenback).

China’s financial system ranks second in nominal phrases and hovering close to $ 17 trillion in GDP. It’s nonetheless the biggest producer on the earth when it comes to output, with in depth manufacturing of metal, electronics and robotics, amongst different issues.

The biggest financial system in Europe is Germany, which exports round 20% of the world’s motor automobiles. In 2019, complete commerce accounted for practically 90% of the nation’s GDP.

The world financial system: 50 smallest international locations

On the different finish of the spectrum are the world’s smallest economies by GDP, particularly growing and island states.

With a GDP of $ 70 million, Tuvalu is the smallest financial system on the earth. Positioned between Hawaii and Australia, the biggest business on this volcanic archipelago depends on territorial fishing rights.

As well as, the nation generates vital revenue with its “.television” net area. Between 2011 and 2019 it earned $ 5 million yearly by firms – together with Twitch, which is owned by Amazon to license the Twitch.television area title – is roughly 7% of the nation’s GDP.

Nation Area GDP (B)

🇹🇻 Tuvalu Oceania $ 0.07

🇳🇷 Nauru Oceania € 0.1

🇵🇼 Palau Oceania $ 0.2

🇰🇮 Kiribati Oceania $ 0.2

🇲🇭 Marshall Islands Oceania $ 0.2

🇫🇲 Micronesia Oceania $ 0.4

🇹🇴 Tonga Oceania $ 0.5

🇸🇹 Sao Tome and Principe Central America $ 0.5

🇩🇲 Dominica Caribbean $ 0.6

🇻🇨 St. Vincent and the GrenadinesCaribbean $ 0.8

🇼🇸 Samoa Oceania $ 0.8

🇰🇳 St. Kitts and Nevis-Caribbean $ 1.0

🇻🇺 Vanuatu Oceania $ 1.0

🇬🇩 GrenadaCaribbean $ 1.1

🇰🇲 Comoros Africa $ 1.3

🇸🇨 SeychellesAfrica $ 1.3

🇦🇬 Antigua and BarbudaCaribbean $ 1.4

🇬🇼 Guinea-Bissau Africa $ 1.6

🇸🇧 Solomon Islands Oceania € 1.7

🇹🇱 Timor-Leste Asia $ 1.7

🇱🇨 St. Lucia Caribbean $ 1.7

🇸🇲 San MarinoEurope $ 1.7

🇨🇻 Cape Verde Africa $ 1.9

🇧🇿 Belize Central America $ 1.9

🇬🇲 Gambia Africa $ 2.0

🇪🇷 EritreaAfrica $ 2.3

🇱🇸 Lesotho Africa $ 2.5

Bhutan, Asia 2.5 €

🇨🇫 Central African RepublicAfrica $ 2.6

🇸🇷 Suriname South America $ 2.8

🇦🇼 Aruba Caribbean $ 2.9

🇧🇮 BurundiAfrica $ 3.2

🇦🇩 Andorra Europe $ 3.2

🇸🇸 South Sudan Africa $ 3.3

🇱🇷 LiberiaAfrica $ 3.4

🇩🇯 Djibouti Africa $ 3.7

🇸🇱 Sierra LeoneAfrica $ 4.4

🇸🇿 EswatiniAfrica $ 4.5

🇲🇻 MaldivesAsia $ 4.6

🇫🇯 Fijian Oceania $ 4.6

🇧🇧 BarbadosCaribbean $ 4.7

🇸🇴 SomaliaAfrica $ 5.4

🇲🇪 MontenegroEurope $ 5.5

🇬🇾 Guyana, South America € 7.4

Tajikistan, Asia € 8.1

🇰🇬 Kyrgyz Republic of Asia 8.2 €

🇹🇬 TogoAfrica $ 8.5

🇽🇰 Kosovo Europe $ 9.0

🇲🇷 Mauritania Africa $ 9.2

🇷🇼 RwandaAfrica $ 10.4

Like Tuvalu, most of the world’s smallest economies are situated in Oceania, together with Nauru, Palau, and Kiribati. As well as, a number of of the above international locations rely upon the tourism business for greater than a 3rd of their employment.

The quickest rising economies on the earth in 2021

With 123% of the forecast GDP progress, the Libyan financial system is predicted to point out the strongest enhance.

Oil drives its progress, with 1.2 million Barrels are pumped throughout the nation every single day. As well as, exports and a weak forex are among the many important drivers of the restoration.

RankLandRegion

Actual GDP progress in 2021 (annual change in%)

1🇱🇾 Libya Africa 123.2%

2🇬🇾 Guyana South America20.4%

3🇲🇴 Macau Asia 20.4%

4🇲🇻 Maldives Asia18.9%

5🇮🇪 Eire Europe 13.0%

6🇦🇼 Aruba Caribbean 12.8%

7🇵🇦 Panama Central America 12.0%

8🇨🇱 Chile South America 11.0%

9🇵🇪 Peru South America 10.0%

10🇩🇴 Dominican RepublicCaribbean9.5%

Eire’s financial system with a forecast 13% actual GDP progress is being pushed by the world’s largest multinationals. Fb, TikTok, Google, Apple, and Pfizer all have their European headquarters within the nation, which has a company tax fee of 12.5% ​​- or about half the worldwide common. Nevertheless, these charges will quickly change as Eire joined the OECD Minimal Tax Charge Settlement of 15%, signed in October 2021.

Macau’s financial system rebounded after the COVID-19 restrictions had been lifted, however extra storm clouds are on the horizon for the Chinese language district. The CCP’s anti-corruption marketing campaign and up to date arrests might point out a tighter relationship between mainland China and the world’s largest playing heart.

Wanting forward at world GDP

The worldwide GDP determine of $ 94 trillion could appear huge to us at this time, however such a determine might appear far more modest sooner or later.

In 1970 the GDP of the world financial system was solely about 3 trillion US {dollars} – or 30 occasions smaller than it’s at this time. The world financial system is predicted to kind of double once more over the following thirty years. World GDP might attain practically $ 180 trillion by 2050.

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