Largest Economies in the World 2023 - Wisevoter (2024)

Afghanistan

Albania

Algeria

Andorra

Angola

Antigua and Barbuda

Argentina

Argentina is the twenty-seventh largest economy, with a GDP of $487.2 billion. The country has a diverse economy, with key industries including agriculture, manufacturing, and mining. However, Argentina has struggled with high inflation and debt in recent years, leading to economic instability.

Armenia

Armenia has the one hundred thirty-fourth largest economy in the world with a GDP of $13,861,409,969 USD. The country's economy is heavily dependent on its agricultural sector, which employs a significant portion of the population. However, in recent years, the government has made efforts to diversify the economy and encourage growth in other sectors such as technology and tourism. In spite of this diversification, Armenia still faces a number of economic challenges, including a high poverty rate, limited natural resources, and a complex geopolitical environment.

Aruba

Australia

Thirteenth on the list of largest economies in the world is Australia, with a GDP of $1,5 trillion. Australia has a mixed-market economy that is dominated by the service sector. The country is a leading producer of coal, iron ore, and natural gas, and also has a thriving agricultural industry. In recent years, Australia has made significant investments in the technology and service sectors and has become an important player in the global innovation space.

Austria

Austria is the twenty-ninth largest economy, with a GDP of $480.3 billion. The country has a highly developed service sector, particularly in the areas of tourism and finance. Austria is also known for its strong manufacturing industry, with key products including machinery, vehicles, and processed foods.

Azerbaijan

Bahrain

Bangladesh

Bangladesh has the thirty-second largest economy in the world with a GDP of $416,264,942,893 USD. The country's economy is largely driven by its garment and textile industry which accounts for a significant portion of its export earnings. Agriculture is another important sector, employing over half of the workforce and accounting for a significant portion of the country's GDP. In recent years, Bangladesh has also been focusing on developing its services sectors with particular emphasis on Information and Communications Technology sector. Despite significant progress in reducing poverty and achieving economic growth, Bangladesh still faces challenges including poor infrastructure, political instability, and vulnerability to natural disasters.

Barbados

Belarus

Belgium

Belgium is the twenty-third largest economy, with a GDP of $594.1 billion. The country is known for its strong manufacturing sector, particularly in the areas of chemicals, machinery, and food processing. It is also home to the headquarters of the European Union and NATO.

Belize

Benin

Bermuda

Bhutan

Bolivia

Bosnia and Herzegovina

Botswana

Brazil

Brazil takes the twelfth spot with a GDP of $1,6 trillion Brazil is the largest economy in Latin America and has a diversified economy with thriving agricultural, mining, and manufacturing industries. The country is also a significant producer of oil and has recently made major strides in the technology and service sectors.

Brunei

Bulgaria

Burkina Faso

Burundi

Cambodia

Cameroon

Canada

Canada ranks ninth largest economy in the world, with a GDP of $1.9 trillion, with a highly developed service sector and a strong natural resources sector, especially in oil and gas.

Cayman Islands

Central African Republic

Chad

Chile

Forty-third largest economy is Chile, with a GDP of $317 billion. Chile is one of the most stable and prosperous countries in South America, with a diversified economy that is heavily reliant on its mining and agricultural sectors. The country is also home to a growing tech industry, particularly in the areas of renewable energy and cybersecurity.

Colombia

Forty-fourth on the list for largest economies is Colombia, with a GDP of $314,4 billion. Colombia is the fourth-largest economy in Latin America, with a diversified economy that includes significant agricultural, manufacturing, and service sectors. The country has made significant progress in recent years in reducing poverty and improving social indicators.

Comoros

Costa Rica

Croatia

Cuba

Cyprus

Czech Republic

Forty-seventh largest economy is the Czech Republic, with a GDP of $281,7 billion. The Czech Republic is a highly developed economy that is heavily reliant on its manufacturing and export sectors. The country is also a major producer of beer and is home to several major automotive manufacturers, including Skoda and Volkswagen.

Democratic Republic of the Congo

Denmark

Denmark has a GDP of $398.3 billion, making it the 35th largest economy in the world. Denmark is a high-income, mixed economy with a strong welfare state, a highly educated workforce, and a focus on renewable energy and sustainable development. The country has also developed a highly advanced transport and logistics sector and is known for its design and innovation industries.

Djibouti

Dominica

Dominican Republic

East Timor

Ecuador

Egypt

Egypt has a GDP of $404.1 billion, making it the 34th largest economy in the world. Egypt is a lower-middle-income country with a mixed economy, a large tourism industry, and significant natural resources such as oil, gas, and minerals. The country has made progress in economic reforms and diversifying its economy, but it still faces challenges such as high levels of poverty, unemployment, and political instability.

El Salvador

Equatorial Guinea

Estonia

Eswatini

Ethiopia

Faroe Islands

Federated States of Micronesia

Fiji

Finland

Forty-fifth largest economy in the world is Finland, with a GDP of $297,3 billion. Finland is a highly developed economy with a strong emphasis on technology and innovation. The country is home to several major technology companies, including Nokia and Rovio (the makers of Angry Birds), and has a highly skilled and educated workforce.

France

France comes in seventh largest economy with a GDP of $2.9 trillion, with a strong manufacturing sector and a highly developed service sector.

Gabon

Georgia

Germany

Germany is fourth on the list of largest economies in the world, with a GDP of $4.2 trillion, and its economy is highly focused on exports, especially in the automotive and machinery sectors.

Ghana

Greece

Grenada

Guam

Guatemala

Guinea

Guinea-Bissau

Guyana

Haiti

Honduras

Hong Kong

Thirty-ninth on the list for largest economies in the world is Hong Kong, with a GDP of $369 billion. Despite facing significant political turmoil in recent years, Hong Kong remains one of the world's major financial centers and a gateway to China. The city's economy is characterized by its highly developed financial sector, world-class port, and robust trade relationships with both mainland China and the rest of the world.

Hungary

Iceland

India

India has the fifth largest economy in the world with a GDP of $3,176,295,065,497 USD. India's economy is characterized by a diverse mix of sectors, including agriculture, industry, and services. Moreover, India's vast population provides a large consumer market and a source of labor and has helped to attract foreign investment and drive economic growth. Lastly, the country's government has also implemented economic reforms to encourage foreign investment and create a more business-friendly environment. Ultimately, these factors have contributed to India’s rise as a major economic power.

Indonesia

Sixteenth on the list is Indonesia, with a GDP of $1,1 trillion. Indonesia is the largest economy in Southeast Asia and has a mixed economy that is heavily dependent on the service sector and the manufacturing industry. The country is a major producer of coal, crude palm oil, and other commodities, and also has a thriving tourism industry. Despite facing challenges such as infrastructure bottlenecks and regulatory uncertainty, Indonesia has managed to maintain a positive economic growth rate over the past few years.

Iran

Forty-first largest economy is Iran, with a GDP of $359,7 billion. Iran's economy is heavily reliant on its vast oil and gas reserves, which account for the majority of the country's exports. However, Iran has faced significant economic challenges in recent years, including international sanctions and political instability.

Iraq

Ireland

Ireland is the twenty-fifth largest economy, with a GDP of $504.2 billion. The country has a highly developed pharmaceutical and technology industry, with major companies such as Google, Facebook, and Pfizer having operations there. Ireland has also seen significant growth in the renewable energy sector in recent years.

Isle of Man

Israel

Israel is the twenty-sixth largest economy, with a GDP of $488.5 billion. The country has a highly developed technology sector, particularly in the areas of cybersecurity, biotechnology, and aerospace. Israel also has a strong agricultural industry, and is a major exporter of fresh produce.

Italy

Italy is eighth on the list of largest economies in the world with a GDP of $2.1 trillion, and its economy is highly diversified, with a mix of industries such as manufacturing, tourism, and finance.

Ivory Coast

Jamaica

Japan

Japan ranks third largest economy in the world with a GDP of $4.9 trillion. Japan has a highly developed economy and is known for its technological advancements and strong manufacturing sector.

Jordan

Kazakhstan

Kenya

Kosovo

Kuwait

Kyrgyzstan

Laos

Latvia

Lebanon

Lesotho

Liberia

Libya

Liechtenstein

Lithuania

Luxembourg

Macau

Madagascar

Malawi

Malaysia

With a GDP of $372.9 billion, Malaysia is the 38th largest economy in the world. Malaysia is a middle-income, mixed economy with a focus on manufacturing, tourism, and services. The country has made significant progress in reducing poverty and increasing access to education and healthcare, but it still faces challenges such as corruption and political polarization.

Maldives

Mali

Malta

Marshall Islands

Mauritania

Mauritius

Mexico

Mexico is fifteenth on the list of largest economies in the world, with a GDP of $1,2. Mexico has a mixed economy that is heavily dependent on the service sector and manufacturing industry. The country is a major producer of oil and has a thriving agricultural sector as well. Despite facing challenges such as high levels of inequality and corruption, Mexico has managed to maintain a relatively stable economy.

Moldova

Monaco

Mongolia

Montenegro

Morocco

Mozambique

Myanmar

Namibia

Nauru

Nepal

Netherlands

The Netherlands takes the seventeenth spot with a GDP of $1 trillion. The Netherlands has an open, mixed-market economy that is heavily dependent on foreign trade. The country is a major transportation hub and is home to several large international companies, particularly in the financial and technology sectors. The Netherlands is also known for its innovative agriculture practices and is a leading exporter of agricultural products.

New Caledonia

New Zealand

Forty-ninth largest economy in the world is New Zealand, with a GDP of $249,8 billion. New Zealand is a small, highly developed economy that is heavily reliant on its agricultural sector. The country is also home to a growing tech industry and is a major producer of wool, meat, and dairy products.

Nicaragua

Niger

Nigeria

With a GDP of $440.8 billion, Nigeria is the 30th largest economy in the world. Nigeria is a middle-income, mixed economy, and emerging market with abundant natural resources, particularly oil. The country has made progress in diversifying its economy and has seen strong economic growth in recent years, but it still faces challenges such as high levels of poverty, corruption, and infrastructure deficits.

Northern Mariana Islands

Norway

Norway is the twenty-eighth largest economy, with a GDP of $482.1 billion. The country is known for its oil and gas industry, which has been a major source of wealth and economic growth. Norway also has a strong maritime industry and is a major exporter of fish and seafood.

Oman

Pakistan

Pakistan has the forty-second largest economy in the world with a GDP of $1348,262,544,719 USD. Pakistan's economy is largely driven by its agriculture and manufacturing sectors which account for a significant portion of its GDP. The services sector is also important and has been growing rapidly in recent years, particularly in areas such as IT, finance, and tourism. Yet, Pakistan faces a number of economic challenges that include high inflation, low levels of foreign investment, and a large trade deficit. The government has implemented economic reforms to address structural issues and promote growth, resulting in the country making progress in recent years in reducing poverty and increasing access to education and healthcare.

Palau

Panama

Papua New Guinea

Paraguay

People's Republic of China

The People's Republic of China takes second place, with a GDP of $17.7 trillion. Over the past few decades, China has transformed from an agricultural-based economy to a manufacturing and export-based one, and more recently, a service-based economy.

Peru

Fiftieth largest economy in the world is Peru with a GDP of $223,2 billion. Peru is a resource-rich country with a diverse economy that includes mining, manufacturing, and agriculture. The country is known for its production of copper, gold, and silver. Its main trading partners are China, the United States, and Brazil.

Philippines

The Philippines has a GDP of $394 billion, making it the 37th largest economy in the world. The Philippines is a lower-middle-income, mixed economy with a focus on agriculture, manufacturing, and services. The country has made progress in reducing poverty and increasing foreign investment, but it still faces challenges such as high levels of inequality, corruption, and natural disasters.

Poland

Poland is the twenty-first largest economy in the world, with a GDP of $679.4 billion. The country has seen significant economic growth since the fall of communism in 1989, and is now a major player in Central and Eastern Europe. Poland has a diverse economy, with key industries including information technology, automotive, and food processing.

Portugal

Forty-eighth largest economy in the world is Portugal, with a GDP of $253,6 billion. Portugal is a developed economy that has made significant progress in recent years in reducing its budget deficit and improving its fiscal stability. The country is heavily reliant on its tourism sector, which accounts for a significant portion of its GDP.

Puerto Rico

Qatar

Republic of Macedonia

Republic of the Congo

Romania

Forty-sixth on the list for largest economies is Romania, with a GDP of $284 billion. Romania is a rapidly developing economy that has made significant progress in recent years, particularly in the areas of infrastructure development and foreign investment. However, the country still faces significant challenges, including corruption and political instability.

Russia

Eleventh on the list of largest economies in the world is Russia, with a GDP of $1,7 trillion. Russia is the largest country in the world and has a diversified economy that heavily relies on natural resources, particularly oil and gas. The country is also one of the leading producers of industrial metals, such as steel and aluminum, and has a strong arms industry.

Rwanda

San Marino

São Tomé and Príncipe

Saudi Arabia

Eighteenth on the list for largest economies is Saudi Arabia, with a GDP of $833 billion. Saudi Arabia has a heavily oil-dependent economy, with the petroleum industry accounting for a significant portion of the country's GDP. The country is also investing heavily in other sectors such as healthcare, education, and transportation, as part of its long-term economic diversification plan. Despite facing challenges such as declining oil prices and geopolitical tensions, Saudi Arabia has managed to maintain a stable economy.

Senegal

Serbia

Seychelles

Sierra Leone

Singapore

With a GDP of $396.9 billion, Singapore is the 36th largest economy in the world. Singapore is a high-income, highly developed economy with a strong focus on international trade, finance, and technology. The country has a highly skilled workforce, a favorable business environment, and a highly developed infrastructure, but it also faces challenges such as high levels of income inequality and political restrictions.

Sint Maarten

Slovakia

Slovenia

Solomon Islands

Somalia

South Africa

South Africa has a GDP of $419 billion, making it the 31st largest economy in the world. South Africa is a mixed economy with abundant natural resources, well-developed financial, legal, and transport sectors, and a stock exchange that is the largest in Africa. However, the country still faces challenges such as high levels of unemployment, income inequality, and crime.

South Korea

South Korea is the tenth largest economy in the world, with a GDP of $1.8 trillion, with a strong manufacturing sector that includes electronics, automobiles, and shipbuilding.

Spain

Spain takes the fourteenth spot with a GDP of $1,4 trillion. Spain is the fourth-largest economy in the Eurozone and has a mixed-market economy that is dominated by the service sector. The country is a major producer of agricultural products and is also a leading manufacturer of automobiles and other transportation equipment. Despite facing economic difficulties during the Eurozone crisis, Spain has managed to recover and is currently experiencing economic growth.

Sri Lanka

Sudan

Suriname

Sweden

Sweden is the twenty-second largest economy, with a GDP of $635.7 billion. The country has a highly developed welfare state and is known for its strong social protections and progressive policies. Key industries include telecommunications, automotive, and pharmaceuticals.

Switzerland

Twentieth largest economy in the world is Switzerland, with a GDP of $800.6 billion. The country has a highly developed service sector and is known for its strong banking and financial industry. It is also a major exporter of pharmaceuticals, chemicals, and watches.

Syria

Tajikistan

Tanzania

Thailand

Thailand is the twenty-fourth largest economy, with a GDP of $505.9 billion. The country is a major exporter of goods, particularly automobiles, electronics, and agricultural products. It is also a popular destination for tourism, with its beaches, temples, and vibrant street food scene.

The Bahamas

The Gambia

The Gambia has the one hundred seventy-ninth largest economy in the world with a GDP of $2,038,417,462 USD. The country's economy is largely driven by its agriculture and the production of peanuts, comprising 25% of the Gambia’s GDP. The services sector is also an important part of the economy, with tourism being a major contributor to foreign exchange earnings. Despite these sectors, the Gambia is one of the poorest countries in the world, with a high poverty rate and limited natural resources. The government has implemented economic reforms to address these challenges but the country still faces significant economic and social issues.

Togo

Trinidad and Tobago

Tunisia

Turkey

Nineteenth on the list of largest economies in the world is Turkey, with a GDP of $819 billion. Turkey has a mixed economy that is heavily dependent on the service sector and the manufacturing industry.

Turkmenistan

Turks and Caicos Islands

Uganda

Ukraine

United Arab Emirates

The United Arab Emirates has a GDP of $415 billion, making it the 33rd largest economy in the world. The UAE is a high-income, oil-rich country with a well-developed infrastructure, financial services sector, and tourism industry. The country has also diversified its economy into sectors such as aviation, renewable energy, and high-tech industries. However, the country still faces challenges such as a high dependence on oil exports and concerns about human rights.

United Kingdom

The United Kingdom ranks sixth largest economy in the world with a GDP of $3.1 trillion, with a highly developed service sector that is focused on finance, healthcare, and technology.

United States of America

The United States of America holds the first place on the list of the world's largest economies, with a GDP of $23.3 trillion. The US economy is highly diversified, with a mix of industries that range from technology to healthcare, energy, and finance.

United States Virgin Islands

Uruguay

Uzbekistan

Vanuatu

Vietnam

Fortieth on the list is Vietnam, with a GDP of $366 billion. Vietnam is one of the fastest-growing economies in Southeast Asia, driven in large part by its manufacturing and export sectors. The country has become an increasingly attractive destination for foreign investment, particularly in the electronics, textiles, and footwear industries.

Yemen

Zambia

Zimbabwe

Who has the largest economy in the world ?

The largest economy in the world is the United States, with a GDP of $23.3 trillion.