The Worlds Top 10 Economies

1. United States

The United States is the largest economy of World in the nominal terms and the 2nd largest economy according in terms of the Purchasing Power Parity and representing the 22% of the nominal GDP and 17 % of the gross world product (GWP). The United State GDP is US $ 18.558 trillion and their GDP per capita is US $ 57,220 and their GDP largest sector is the Service sector which score 78% and has great contribution to the country’s GDP after the industry sector that contribute 21% to the GDP.
The United States has abundant with the natural resources, high productivity and the well-developed infrastructure. The citizens of the United States have has the highest average household and the highest employee income among all other OECD nations. The US dollar ($) is the international currency and the most reserve currency and used in international transaction and the several countries use the US dollar as their official currency.

2. Economy of China

The People Republic of China is the World 2nd largest economy in terms of nominal GDP and the largest economy of the world in terms of Purchasing Power Parity. China was ranked as the fastest growing major economy of the world in with the growth rate averaging up over 10% in the last 30 years. China public sector holds the bigger share as compare to the private sector in the national economy, due to political and historical facts of their developing economy.
China has the GDP of US $ 13.98 trillion and their GDP growth is 6.9% and GDP per capita is US $ 10,065. The largest sector of Chinese economy is also the service sector which contributes 50.5% above the industry sector which contribute 40.5% into the country’s economy. China is considering as the global hub for the manufacturing, largest exporter of the goods and largest manufacturing economy of the world. China is also the largest trading economy of the world and increasingly engaged in the international trade organizations and plays vital role in the global trade.

3. Economy of Japan

The Japan’s economy is the third largest economy of the world by the nominal GDP and the world 4th largest economy by the Purchasing Power Parity. The world 2nd largest developed economy has the GDP of US $ 4.41 trillion and their GDP growth rate has slightly decline for the last few years but their GDP per capita has remain stable as it counts for US $ 34,870. The service sector has contributed the larger share of their economy almost 72% and industry sector contributed 27.5% to their economy.
Japan is the third largest automobile producing country of the world and the holds the largest share of the electronic goods in all over the world. The increasing competition with the China and South Korea the Japanese is currently focuses on the high tech and the more precision goods such as the hybrid vehicles, optical instruments and robotics. Japan is also the world’s leading creditor nation and having the high ratio of public debt to the country GDP.

4. Economy of Germany

The largest economy of the Europe and the 4th largest economy of the world and the Germany is the founding member of the Euro Zone and European Union. The German economic model is based on the concept of the social market economy. Germany has recorded the strongest and the highest trade surplus of the world with worth of US $ 285 billion and the biggest capital exporter in all over the world.
The GDP of the Germany is the US $ 3.5 trillion and their GDP growth rate is 1.7% increase as compare to few decades. Their GDP per capita is US $ 42,000 and largest sector of their economy is the service sector which contributes 70% in the country’s economy and the industry sector comes next. Germany is the 3rd largest exporter of the Goods and Services with US $ 1.13 trillion in all over the world and their exports counts for the 41% of their national output.

5. Economy of United Kingdom

The 5th largest economy of the world in terms of nominal gross domestic products and the 9th largest economy of the world in the Purchasing Power Parity measures. The second largest economy in the group of European Union and the fastest growing economy in the G7 for consecutive four years. The UK GDP is the US $ 2.849 trillion and their GDP growth rate increase 2.1 in the first two quarter of. The country GDP per capita is US $ 43,770 and their largest contributed sector is the service sector which contributed 78.4% to the economy.
As it mention the service sector is contributed more to the country’s economy; the most important is the financial service industry as the London is the largest financial centre of the world. The United Kingdom is the 11th largest country of exporter and the 6th largest importer and also ranked second in terms of having the largest stock of the inward foreign direct investment.

6. France

To See More : Top 20 Tips to Lose Weight Rapidly

France is the 6th largest economy of the world in measures of the nominal figures and the 9th largest economy in terms of the Purchasing Power Parity. The 3rd largest economy of the Europe after Germany and UK. The GDP of the France is US $ 2.46 trillion and their GDP growth rate has increases to 1.5 in the first two quarters of as compared to the GDP growth rate which is 1.2%. France GDP per capita is US $ 38,172 and the largest sector of their economy is the Service sector which contributed 79.8% in the country’s economy.
The most important factor of the French economy is the chemical industry which helps to contributed to the manufacturing activities and massively contributed to the economic growth. France is also included into most visited destinations of the world and their tourism industry also contributed the best to the country’s economy.

7. India

India is the 7th largest economic power of the world in terms of nominal GDP and the 3rd largest country by the Purchasing Power Parity. Indian economy is classified as the newly industrialised economy, the member of the G-20, the member of BRICS and the fast developing economy with the average growth rate rise to 7% in the last few years. The wealthiest state of India is the Maharashtra State has an annual GDP of US $ 220 billion which is equal to the GDP of Portugal.
The Indian GDP is US $ 2.40 trillion and their GDP growth rate is US $ 7.9 % which is highly in among the all other developing countries. The country GDP per capita is US $ 1,820 and the largest sector of their economy is the service sector followed by the industry and agriculture sectors which contributed 54.4%, 29.5% and 16.1% respectively. India is also been ranked as the fastest growing service sector in all over the world with the growth rate of 9% since 2001.

8. Economy of Italy

Italy is the 8th largest economy of the world and the third largest economy of Euro Zone in terms of the nominal GDP and the Purchasing Power Parity. Italy is the member of the European Union, OECD, The G7 and the G8 and the 8th largest exporter of the world with the exports of US $ 514 billion in. Italy closest trade ties with the nearest neighbouring countries and among the members of the European Union, volume of 59% of their total trade.
The Gross Domestic Product of the Italy is US $ 1.86 trillion and their GDP growth rate has increase 1.2 % as compared to the last year. The largest sector of Italian economy is the service sector which contributed 74% to the country’s economy. Italian economy has transformed from the agriculture economy to the industrialist economy because of the consequences of the World Wars.

9. Economy of Brazil

The economy of Brazil is the world 9th largest economy of the world and the 2nd largest economy of the world by in measures of the Purchasing Power Parity. The largest Latin American economy and the second largest economy in the Western Hemisphere. Brazil was ranked as the fastest growing economy of the world from 2000 to 2012 with an average increase of annual GDP growth rate of 5%.
The GDP of Brazil is US $ 1.9 trillion and they ranked at 9th, however the GDP growth rate has fall down by 3.35 % in the last few years and their GDP per capita is the US $ 9,312. The largest sector of the Brazil economy is the service sector which contributes 76% in the country economy and the second important sector is the industry sector which contributes 18.5% to the county’s economy.

10. Economy of Canada

Canada is the 10th largest economy of the world and the 15th largest by the Purchasing Power Parity. Canada is the world wealthiest nation and the member of the Organization of the Economic-Co-Operation and the Development and also the member of the G7. Canada is among on those unusual developed countries where has an importance of primary sector, logging and the oil sectors which are the tow big pillars of the Canadian economy.
The Canada GDP is US $ 1.592 trillion and they ranked at no. 10 with the GDP ratio and their GDP growth rate increases 0.5 % in the first two quarter of. The country GDP per capita is US $ 56,067 and largest sector of their economy is the service sector which contributes 69.8 % to the country’s economy and the industry sector contributes 28.5 % to the economy. Canada is also a country who is the world leader in the entertainment software industry.