Countries with the largest gross domestic product (GDP) 2021
In 2021, the United States had the largest economy in the world, with a gross domestic product of just under 23 trillion U.S. dollars. China had the second largest economy, at almost 17.5 trillion U.S. dollars. The remaining countries that rounded out the world's 20 largest economies all had GDPs that ranged between 800 billion and five trillion U.S. dollars. Compared to the 20 largest economies in 2020, Saudi Arabia moved into 19th place in 2021, pushing Turkey off the list.
The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.
Global gross domestic product
Global gross domestic product amounts to almost 95 trillion U.S. dollars, with the United States making up more than one fifth of this figure alone. The 12 largest economies in the world includes all Group of Seven (G7) economies, as well as four of the BRICS economies, and South Korea. While the U.S. has consistently been the world's largest economy since the Second World War, it is estimated that it will be overtaken by China at some point this decade.The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.
