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Gross domestic product Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced in a specific time period. List of countries by GDP (nominal) per capita, GDP (nominal) per capit ...
(GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population. Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in
international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. In most countries, such trade represents a significant share of gross dom ...
, does not take into account the differences of quality of goods and services among countries, and it also requires more estimation than nominal GDP. On the whole, PPP per capita figures are less spread than nominal GDP per capita figures. The
United States The United States of America (USA), commonly known as the United States (U.S. or US), or America, is a country Contiguous United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal di ...
is the world's largest economy with a GDP of approximately $20.513 trillion, notably due to high average incomes, a large population, capital investment, low
unemployment Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is persons above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference per ...

unemployment
, high consumer spending, a relatively young population, and technological innovation. Tuvalu is the world's smallest national economy, with a GDP of about $45 million, because of its very small population, a lack of natural resources, reliance on foreign aid, negligible capital investment, demographic problems (overpopulation and paradoxical "brain drain"), and low average incomes. Although the rankings of national economies have changed considerably over time, the United States has maintained its top position since the Gilded Age, a time period in which its economy saw rapid expansion, surpassing the British Empire and Qing dynasty in aggregate output. Since China's Chinese economic reform, transition to a market-based economy through controlled privatisation and deregulation, the country has seen its ranking increase from ninth in 1978 to second to only the United States in 2016 as economic growth accelerated and its share of global nominal GDP surged from 2% in 1980 to 15% in 2016. Among others, India has also experienced an economic boom since the implementation of Economic liberalisation in India, economic liberalisation in the early 1990s. The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF definitive data for the past year and estimates for the current year are published twice a year in April and October. Non-sovereign entities (the world, continents, and some dependent territory, dependent territories) and states with limited international recognition (such as Kosovo, the State of Palestine and Taiwan) are included in the list where they appear in the sources. These are marked in ''italics''.


Lists

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(2021 estimates) , style="width:33%; text-align:center;" , Per the World Bank (2019) , style="width:33%; text-align:center;" , Per the United Nations (2019) , - valign="top" , , ,


See also

* List of countries by GDP (PPP) * List of countries by GDP (nominal) per capita * List of countries by GDP (PPP) per capita * List of countries by past and projected GDP (nominal) * List of countries by past and projected GDP (PPP)


Notes

Figures exclude Taiwan, and special administrative regions of China, special administrative regions of Hong Kong and Macau. Figures exclude special administrative regions of China, special administrative regions of Hong Kong and Macau. The name used in IMF's report is "Taiwan Province of China". The name used in IMF's report is "Hong Kong SAR". The name used in IMF's report is "Macao SAR". Excludes data for Transnistria. Includes Western Sahara. Data are for the area controlled by the Government of the Republic of Cyprus. Covers mainland Tanzania only. Excludes Abkhazia and South Ossetia. Figures exclude Republic of Crimea and Sevastopol. The name used in IMF's an the World Bank's report is "West Bank and Gaza".


References

{{DEFAULTSORT:Countries By Gdp (Nominal), List Of Lists of countries by GDP, Gdp (Nominal) Lists of countries by economic indicator, Gdp (Nominal) Gross domestic product