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The Top 10 Largest Economies in the World

Author Name : Shivansh Arora     |     Date : 13-06-2023
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According to estimates, the US real GDP is $20.94 trillion. The US services industry is significantly more technologically advanced and well-developed. About 80% of the overall output is attributable to this feature. As a result, the largest organisations and the firms that provide services in the industries of technology, retail, finance, and healthcare play a significant role on the international arena.
Around ($19.37 trillion) is China's GDP. Over the past three decades, the Chinese economy has experienced extraordinary expansion. This fact has enabled the nation to claim the highly desired second spot among the top 10 economies in the globe.
With an estimated $5.05 trillion real GDP, the Japanese economy is now ranked third. In the 1960s, 1970s, and 1980s, Japan's economy expanded quickly.
Germany takes the fourth spot among the top five economies in the world with a real GDP of $3.84 trillion. Germany's economy rebounded in 2010 with 4.0% growth after a slight decline in 2009.
Between 1999 and 2008, the UK's GDP increased by 2.8% year on average. Due to a decline in private consumption and a slowdown in fixed investments brought on by the BREXIT uncertainty, growth is most likely to slow down. However, the UK will keep its spot among the top 10 economies in the world thanks to its real GDP of $2.76 trillion.
With a real GDP of $2.66 trillion, India has surpassed France to reach sixth place among the world's largest economies. Among the major economies, the Indian economy has also experienced the quickest growth.
The estimated GDP for France is $2.63 trillion. Currently, the service sector accounts for more than 70% of the country's GDP. Additionally, France dominates the automotive, railroad, and aerospace industries on a global scale.
Italy is the third-largest national economy in the EU and a very advanced market. The nation is renowned for its competitive and hardworking agricultural industry as well as its influential and inventive business economic sector. It is estimated that Italy's real GDP is $1.88 trillion, making it the eighth largest economy in the world.
With a real GDP of $1.64 trillion, Canada has the ninth-largest economy in the world. Canada continues to be the ninth-largest economy in the world, just one place in front of South Korea.
South Korea is the fourth-largest economy in Asia and has a highly developed mixed economy. After the Great Recession, the nation is still one of the developed nations with the fastest growth rates in the globe. The South Korean economy, with a value of $1.63 trillion, is ranked tenth based on the real GDP prediction.