The strongest economies in the world. The most powerful economies in the world Countries by gdp

Very often we hear from various information sources such a concept as GDP, although many of us cannot specifically explain what it is. So, gross domestic product (GDP) is an important economic value. It shows us the total cost of all goods and services that were produced in a particular country for the whole year. All this serves as a clear indicator of the standard of living of the population in the state.

Specialists in the field of macroeconomics can learn a lot about the economic situation in the country when calculating GDP. To begin with, the value of the national income of the entire state becomes clear. From these data it is easy to find out the amount of per capita income using simple mathematical operations. GDP also contains information about the success of economic activities throughout the country. In other words, it can tell you how effectively a particular production or organization does its job. From these indicators, one can draw conclusions about which sector of the country’s economy produces greater profits, and which, on the contrary, slows it down and needs serious reforms. Economists can also use GDP indicators to forecast important processes and trends for the future.

Gross domestic product is a multifaceted category that is divided into different types. But there is one of them, by which one can judge the development of the state’s economy in relation to the whole world. We are talking about the absolute GDP indicator. It shows the quantity of all products and services produced by the state, in monetary terms, without taking into account the population. According to data for 2017, the most developed countries remain the United States of America, China, Japan, Germany and England. More detailed information about the 20 richest countries is given below in table format.

The leading position of the United States is ensured through the successful activities of world-famous corporations with super-profits.

Among them are companies such as Google and, of course, Microsoft. Also, its national currency plays an important role in the absolute GDP of this country. The US dollar has been considered the most stable monetary unit in recent years. For this reason, it is used in all countries of the world. After analyzing data for several years, experts observe only GDP growth in the United States. It is 2.2% annually.

China demonstrates the effectiveness of its economic system with these indicators, thanks to which it ranks second in this ranking. Each year, GDP per capita grows by 10%. According to economists, this Asian republic is capable of displacing the United States in the near future.

Japan reached its level through efficient international trade. Every year, this country exports its cars, household appliances and computer components to different countries. All over the world they know about the high quality of Japanese goods.

Russia is very close to the top 10 economies in the world in terms of GDP, according to new data from the World Bank. In terms of GDP, taking into account purchasing power parity (the benchmark of the May decree), Russia remains outside the top five

Photo: Vitaly Ankov / RIA Novosti

Russia overtook South Korea and rose from 12th to 11th place in the ranking of economies by GDP for 2017, according to updated World Bank data. Over the year, Russian GDP in dollar terms at current prices increased by almost $300 billion, from $1.28 trillion to $1.58 trillion. South Korea's GDP grew from $1.41 trillion to $1.53 trillion.

Russia in this list is far ahead of its three BRICS partners - China (2nd place), India (6th) and Brazil (8th), with Brazil coming closest with a margin of $478 billion.

There were only two changes in the top ten largest economies: India overtook France, rising to sixth place, and Brazil overtook Italy, taking eighth place ( see infographic).

The World Bank relies on official data from Rosstat, which includes Crimea and Sevastopol. “Based on these data, the World Bank does not intend to make any judgments regarding the legal or other status of the affected areas,” the institute said. In 2016 (the latest available data), the total GRP of Crimea and Sevastopol amounted to approximately 380 billion rubles, or $6 billion at the current exchange rate.

Fight for a place in the top five

More suitable for international comparisons is GDP at purchasing power parity (PPP, which equalizes the purchasing powers of currencies of different countries). It is according to this indicator that Russia should enter the top five leading countries by 2024, Vladimir Putin. Before September 1, the Ministry of Economic Development and the Ministry of Finance have been instructed to develop a plan to accomplish this task.

At the end of 2017, Russia increased its GDP at PPP in current prices from $3.64 trillion to $3.75 trillion, according to World Bank data, but remained, as a year ago, in sixth place. Fifth is Germany, from which Russia lags behind by $445 billion.

The lag behind Germany is 4-5%, the task is that over the coming six-year period the growth of the Russian economy will be 4% higher than the growth of Germany, Minister of Economic Development Maxim Oreshkin said in May. “The German economy is not an economy that is growing at a super-fast pace. Therefore, we must, of course, show higher rates of economic development and surpass it in this ranking,” the minister said.

According to Rosstat, in 2017 Russia's GDP grew by 1.5%. This estimate could be improved by 0.3 percentage points. due to Rosstat’s recent revision of the dynamics of industrial production over the past year, the Ministry of Economic Development reported on July 12. In 2018, GDP growth will be 1.9%, in 2019 - 1.4%, according to the latest macro forecast of the Ministry of Economic Development. The department updated it, taking into account the April expansion of US anti-Russian sanctions, the tasks set by the May decree, as well as the increase in the VAT rate from 2019, which will lead to an additional increase in prices.

According to Rosstat, in the first half of 2017, Russia’s GDP growth was more than 6.4% and reached approximately $722 billion, taking into account the average dollar exchange rate for the six months. It is worth noting that the official media previously reported that GDP growth from January to June 2017 was only 1.5% compared to the same period last year. However, making an assessment based on Rosstat data, to which these sources referred, the value turns out to be completely different.

At the end of 2016, Russia's GDP was estimated at $1.28 trillion. According to the World Bank - more than $1.28 trillion, according to Rosstat - 85,880.6 billion rubles. or approximately $1.28 trillion. The data matches.

Russia's GDP growth, 2015-2017 (billion rubles / billion dollars)

Russia's GDP growth forecasts

The IMF predicts that Russia's GDP growth, after contracting by 0.2% in 2016, will amount to 1.4% in 2017. The Ministry of Economic Development of the Russian Federation believes that thanks to an increase in lending and investment, Russia's GDP may grow by 2.1% at the end of 2017, and in 2018-2020. – by 2.1-2.3%. According to the Bank of Russia, GDP in 2017 should increase by 1.7-2.2%.

Who has more GDP?

Is Russia that much different from other countries in terms of GDP? For comparison, we compiled a rating of the 10 most developed economies in the world in terms of GDP for 2016, calculated at PPP (purchasing power parity) and compared them in terms of GDP with Russia. Of course, the ranking of the 10 leading countries with GDP based on PPP will differ significantly from the ranking of countries assessed by GDP in current prices. Thus, the leader in terms of GDP at PPP was China ($21,292 billion), and the leader in terms of GDP at current prices was the United States ($18,569 billion).

Comparison of countries by GDP, 2016

GDP per capita

When calculating GDP per capita, the list became completely different. As it turned out, Qatar has the best indicator – $127,660 per person. At the same time, GDP was also calculated using PPP, which better reflects reality in international comparisons.

Comparison of countries by GDP per capita, 2015-2016

In Russia, GDP per capita was $26,490 (53rd place), China (83rd place) and the USA (14th place) did not make it into the top 10, $15,399 and $57,657, respectively. At the same time, our result increased over the year by approximately $282. What does it mean? For every person in Russia, we produced $282 more goods and services than a year earlier. However, this is not the aisle of dreams. For some countries, its GDP even increased by $3,749 - Ireland. One way or another, Russia's GDP is growing.

Overall, the United States economy is significantly ahead of other countries in terms of absolute GDP. Compared to last year, the increase in US gross domestic product amounted to $726 billion. The gap from China reached 7 trillion. dollars.

Russia took another step up in 2017 (to 13th place), overtaking Australia. According to the IMF, the Russian Federation's GDP increased by $135 billion.

Let us remind you that gross domestic product (Gross Domestic Product) - GDP (GDP) - macroeconomic indicator, reflecting the market value of all final goods and services (that is, intended for direct consumption) produced during the year in all sectors of the economy on the territory of the state for consumption, export and accumulation, regardless of the nationality of the factors of production used. This concept was first proposed in 1934 by Simon Kuznets.

The calculation of the GDP indicator does not include financial transactions, securities transactions, sales on the secondary market (used cars, apartments, houses, clothing, etc.). Financial transactions do not create real value, and the sale of previously used items was already taken into account earlier in the calculation of previous GDP figures.

Gross domestic product is used to characterize the results of production, the level of economic development and the rate of economic growth.

The formula for calculating GDP looks like this:

GDP = W + Q + R + P + T

Where: W - wages paid by business entities, regardless of the presence (absence) of citizenship Q - social insurance contributions and other mandatory payments R - gross profit of business entities P - gross mixed income T - taxes on production and imports (from government subsidies, if any, are deducted from this amount).

World GDP 2017, trillion $

1. USA - 19,284
2. China - 12,263
3. Japan - 4,513
4. Germany - 3,591
5. UK - 2,885
6. France - 2,537
7. India - 2,487
8. Italy - 1,901
9. Brazil - 1,556
10. Canada - 1,530
11. South Korea - 1,379
12. Spain - 1,291
13. Russia - 1,267
14. Australia - 1,262
15. Mexico - 1,166
16. Indonesia - 1,024
17. Netherlands - 0.794
18. Türkiye - 0.791
19. Switzerland - 0.665
20. Saudi Arabia - 0.659
21. Nigeria - 620.95
22. Sweden - 530.29
23. Taiwan - 524.84
24. Poland - 495.39
25. Belgium - 479.68
26. Argentina - 447.83
27. Thailand - 428.76
28. Iran - 409.3
29. Austria - 399.62
30. Norway - 384.47
31. United Arab Emirates - 357.27
32. Philippines - 345.31
33. Malaysia - 344.85
34. Hong Kong - 337.1
35. Israel - 316.77
36. Denmark - 314.27
37. Singapore - 304.1
38. Colombia - 278.59
39. South Africa - 273.73
40. Ireland - 269.74
41. Bangladesh - 246.73
42. Chile - 243.92
43. Finland - 242.27
44. Vietnam - 217.84
45. Portugal - 212.15
46. ​​Greece - 203.22
47. Romania - 194.3
48. Czech Republic - 191.61
49. Peru - 189.71
50. Qatar - 181.26
51. New Zealand - 178.02
52. Algeria - 173.86
53. Iraq - 164.42
54. Venezuela - 149.51
55. Kazakhstan - 135.13
56. Hungary - 120.12
57. Kuwait - 119.9
58. Morocco - 114.34
59. Puerto Rico - 99.47
60. Sudan - 98.55
61. Slovakia - 94.49
62. Ukraine - 93.55
63. Sri Lanka - 91.91
64. Ecuador - 91.16
65. Angola - 86.29
66. Myanmar - 81.97
67. Dominican Republic - 75.37
68. Ethiopia - 74.08
69. Guatemala - 72.09
70. Kenya - 69.07
71. Luxembourg - 63.79
72. Uzbekistan - 61.53
73. Costa Rica - 60.8
74. Panama - 60.51
75. Oman - 56.34
76. Uruguay - 54.94
77. Lebanon - 54.06
78. Croatia - 51.95
79. Bulgaria - 51.44
80. Tanzania - 49.53
81. Belarus - 49.25
82. Libya - 47.79
83. Yemen - 47.18
84. Slovenia - 45.61
85. Lithuania - 45.4
86. Macau - 44.84
87. Tunisia - 44.36
88. Democratic Republic of the Congo - 43.65
89. Jordan - 42.3
90. Ghana - 40.93
91. Serbia - 38.88
92. Ivory Coast - 38.48
93. Turkmenistan - 37.77
94. Bolivia - 37.3
95. Azerbaijan - 36.2
96. Cameroon - 32.63
97. Bahrain - 31.96
98. Latvia - 29.86
99. El Salvador - 28.54
100. Paraguay - 27.91