The Biggest Economies in the World
Thanks to globalisation, every economy is in one way or another tied to another. In some cases, a small number of countries can turn the tide of the global markets with one great innovation or blunder. Here we take a look at the ten biggest economies of the world, calculated using modified data from the IMF and World Bank to calculate a countries overall value. Economic measurements for credit worthiness and individual wealth were not included into rankings unless a tie occurred.
United States – Economic Value $ 19 Trillion
Much like everything American, the United States economy is super-sized. Having long taken pride in the idea of being capitalists second only to being Americans, the United States economy is among the most diversified, with the largest number of small businesses opening yearly worldwide.
China – Economic Value $12 Trillion
Everything is made in China, including substantial amounts of money. With the single largest manufacturing economy in the world, with accompanying largest agricultural and distribution sectors each employing nearly 300 million individuals.
Japan – Economic Value $4.3 Trillion
With a culture that values hard work and dedication to career goals, Japan was bound to be on this list. While it has a limited amount of natural resources to call its own, this country has been the most well suited to lead the world in emerging technologies.
Germany – Economic Value $3.5 Trillion
When the world looks for highly skilled labor, high quality products and innovation, they look at the biggest economy of Europe, Germany. As to be expected, engineering is one of the biggest economic sectors of the country, with 90% of the worlds premium vehicles being made within its borders and being the worlds fifth largest exporter of military technology.
United Kingdom – Economic Value $3 Trillion
The Economy of the United Kingdom is a little bit more complex than the rest mentioned so far on this list. While every other country may have regional specialties they are included into the same statistical measurements.
France – Economic Value $2.5 Trillion
31 of the Fortune 500, among them such household names as L’Oreal and Michelin make France their home and in turn it to rank 4th in total amount of Fortune 500 companies within its borders.Aerospace engineering and weapons development are also key industries in France.
India – Economic Value $2.5 Trillion
The country with the second largest population is also the fastest growing economy since the mid 1990’s. After deregulation of the economy, many sectors (most notably I.T. and software enterprises) have seen expansive growth as have research and education in these fields. Consistently through the history of India, agriculture has also played a massive role in the economy. Currently this country is the single largest producer of milk and has the second largest population of cattle worldwide.
Brazil – Economic Value $1.9 Trillion
The biggest economy of Latin America, most of Brazil’s trade is directly related in keeping others workers moving. Whether it’s the production and transport of oil or the distribution of sugar, soya and meat, Brazil is responsible for the food on many plates, and gas in many tanks.
Italy – Economic Value $1.9 Trillion
Much like its flag, Italy’s economy is separated into three distinct sections. The north, much like its Swiss neighbor relies primarily on heavy banking and financial clout to contribute to the massive economic value of the country in addition to a fast growing engineering sector.
Canada – Economic Value $1.7 Trillion
Perhaps better known for maple syrup, Canada’s economy depends more on another rather viscous fluid. Home to the 3rd largest oil reserves in the world, Canada has black gold to thank for nearly one-quarter of its export value. Within its borders, Canadians find most of their economy a product of the service industry, especially in banking and the handling of real estate.