The United States is the world’s largest economy with a nominal GDP of $21.44 trillion. The US economy is mostly a service-oriented economy with a 77 percent contribution to GDP. The difficulty between the United States and China on trade is negatively impacting not only these countries but many others.
China is officially the People’s Republic of China, and it is the second-largest economy in the world and the fastest-growing trillion-dollar economy. It has a GDP of $14.14 trillion in 2019. The gap between the United States is said to decrease around $4.5 trillion by 2024.
Japan is the third-largest financial system in the world, and it contributes to almost 6 percent of the global GDP. Germany is the fourth-largest financial system in the world and the biggest economy in Europe. India is the fifth-largest economy and has often been called “the bright spot” in the global economy.
Charlie Rogers, Manager, Bachelor of Management Studies (BMS), Lexington, Kentucky
Answered May 17, 2020
There are many countries around the world that have a high economy. These countries include China, the United States, Germany, and Japan. Out of all the countries, the United States has the highest economy. This economy comes from the fact that it uses a number of resources that are natural, and it has a substantial-high productivity rate.
It is the highest economy due to its GPD, which they have a growth rate of 3.3 percent. The currency of the United States is the American dollar, which is the highest currency of them all. China comes second, due to its foreign trade and being the highest support of oil.
The economies of different countries definitely differ. There are some countries that have larger economies than others. With the recent things that are happening in the world, those who have larger economies will have a higher chance of surviving. The United States is one of the countries that come with the largest economies. It holds the top spot as the country with the largest economy ever since the late 1800s.
Another country that has a large economy is China. The thing about China is that there was a time when its economy wasn’t too good. Still, with the country’s perseverance, it was able to improve its economy greatly. Other countries with large economies are Japan, Germany, India, UK, and France.
It may be hard to judge which countries right now come with the highest GDP probably because of all the things that are happening to the world right now. Yet, there are still some countries that are known to be better in terms of maintaining their economy.
The top countries in the world right now in GDP are the following: The United States, China, Japan, Germany, and India. A lot of people may be surprised that India is a part of the list because it is always being portrayed as a country that is not the cleanest or the most high-tech but it is one of the top countries right now in terms of GDP. The number does not lie.
United States, China, Japan, and Germany have the highest economies. The United States is the highest. The United States is a capitalist economy that has an abundance of natural resources and high productivity. It is the largest economy in the world based upon GDP. The growth rate is 3.3 percent.
The United States currency is the ultimate, and there are none higher. Our largest Import economy is crude oil, and the largest export is transportation equipment. The United States is number one. However, China is quickly picking up the pace.
According to the International Monetary Fund, China is the second-largest economy in the world. China has accelerated into a more market-oriented mixed economy where foreign trade is an enormous factor. China is the largest energy consumer and oil supporter of the world. They are the king of capitalism.