The economy is one of the greatest aspects of any country and the economic health of a country has been determined by the GDP that has been referred towards the entire market value of all the products and also the services of a nation in such given year. It is reported that the nominal GDP has been estimated to be done this year on year and also helping in ranking of the countries economically.
Here is the list of the largest economies of the world in 2021:
In 2021 the nominal GDP of Canada is USD 1.71 trillion. In 2019, the nominal GDP of Canada was at USD 1.8 trillion that has been made it the tenth economy on the earth. It is assumed that the annual growth rate is to be 2.0% this year. This country is just one step ahead of Russia.
In 2021 the nominal GDP of Brazil is USD 1.87 trillion. This country has maintained the consistency of 3.4% GDP growth before the global economic crisis. In 2009, it was shrunk for a brief time and the economy has been rebounded in the following year with a 7.5% growth. Brazil had a nominal GDP of USD 2.0 trillion in 2019.
In 2021 the nominal GDP of Canada is USD 2.07 trillion. In 2019 the Nominal GDP of the country was at USD 2.00 trillion. In 2019 the GDP growth is 0.3%. Italy has faced a persistently huge growth in the economy due to the very high public debt, an inefficient court system, a weak banking sector, an inefficient labour market with chronically high youth unemployment.
In 2021 the nominal GDP of India is USD 2.72 trillion. In 2021, France has overtaken India by the difference of 0.06 trillion. This country has been overtaken by the French economy in 2018. It is expected it will very soon get back its position of the topmost economies of the world. In 2019-20 the nominal GDP was USD 2.9 trillion. The economy of India is one of the fastest-growing economies among the large economies.
In 2021 the nominal GDP of France is USD 2.78 trillion. This country has the seventh topmost economy. It is reported that In 2019 the GDP of this country was at USD 2.9 trillion. Now over 70% of the nation’s GDP has come from the service sector. This country is leading in many sectors like automotive, railway, and aerospace.
5. the United Kingdom
In 2021 the nominal GDP of the UK is USD 2.83 trillion. It is reported that the average annual growth of the GDP of the UK between 1999 and 2008 was 2.8%. Last year the growth also become slow down due to the dip into private consumption and also the dampening of the fixed investments under such certain conditions has been created by the BREXIT. Now the nominal GDP of UDS 3.2 trillion, and the UK will be continued and also holding the position among the top 5 economies in the world.
In 2021 the nominal GDP of India is USD 4.00 trillion. In 2019 this country has a nominal GDP of USD 4.20 trillion and it is also based on the forecasts for 2019. It has acquired a fourth place among the top 10 economies on the globe3. In 2009, after such a brief plummet, the economy has been bounced and reach to 4.0% expansion a decade ago.
In 2021 the nominal GDP of Japan is USD 4.97 trillion. It is based on the nominal GDP forecast, it is reported that the Japanese economy has been ranked third in 2019 and it is USD 5.2 trillion. In 1960, the 70s, and 80s, the economy of Japan has been grown rapidly. The economy of this country was not that much impressive in the 1990s. In the last decade, Japan has been doing its best and growing its economy.
In 2021 the nominal GDP of China is USD 13.40 trillion. The growth of the Chinese economy is really very impressive over a few decades. It has helped the entire country to capture the most important second place in the list of the top 10 economies of the world. It seems that the nominal GDP of China in 2019 is USD 9.2 trillion.
1. the United States
In 2021 the nominal GDP of the USA is USD 20.49 trillion. It was expected that the nominal GDP of just had been exceeding USD 21 trillion in 2019. It has been accounted for the 20% of the global output and also the economy has been still much bigger than China. In this country, the service sector of the US is very developed and also it is technologically more sophisticated.
The face has been accounted for about 80% of the total output. It has contained the services like fields in technologies, retail, finance, and healthcare and playing such a pivotal role on the global stage.