Top 10 List of World Economies In 2019
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Top 10 List of World Economies In 2019

The world economy refers to an economic community or economic cooperation group formed by multiple countries to achieve preferential trade policies and realize common economic interests in response to fierce market competition.
Published: Jun 12, 2020
Top 10 List of World Economies In 2019

The top ten economies in the world:

At present, the countries in the world's top ten economies are ranked in order: The United States, China, Japan, Germany, the United Kingdom, France, India, Italy, Brazil, Canada.

  1. United States
    The United States is the most developed country in the world, its nominal GDP is also the highest in the world, and its economic value accounts for more than 20% of the world. At the same time, the United States is also the world’s largest importer and the world’s second-largest exporter because of its Powerful technology, after importing raw materials, then processing, and then export at several times the price.
  2. China
    China’s nominal GDP is US$11.218 trillion. Although China is still a developing country, its economy is developing rapidly, major science and technology are gradually improving, and it also has a large number of labor forces. It provides strong support for economic development. Today, China has become an indispensable party in the world economy.
  3. Japan
    Japan’s GDP is US$4.938 trillion. Although Japan is an island country, its technological development has been strongly supported by the United States, and it has rapidly developed into an existence beyond Europe. Due to the lack of materials, most raw materials rely on imports. Among the top ten economies in the world, it ranks third.
  4. Germany
    Germany’s nominal GDP is US$3.466 trillion. Although Germany experienced a decline after the Second World War, the current economy is the best in Europe, and the unemployment rate is also the lowest among the EU countries. His labor productivity is also the highest in the world. Yes, nowadays, many famous cars are German brands.
  5. United Kingdom
    The nominal GDP of the United Kingdom is 2.629 trillion US dollars. A considerable part of the British economy comes from the tertiary industry, and it implements high welfare and high tax policies. Although there is population unemployment, the unemployed people receive government relief every week, and housing is also It is completely free and one of the four largest economies in Europe.
  6. France
    France’s nominal GDP is US$2.583 trillion, and it is the world’s third-largest agricultural exporter. Its tourism industry is also very developed. Because France symbolizes romance and love, many couples will come here, which has led to the development of French tourism. At the same time, more than 30 regions of France are listed as World Heritage.
  7. India
    India’s nominal GDP ranks seventh, and it is one of the fastest-growing countries today. Although it is also a developing country, it surpassed China in 14-15 years and became the fastest-growing economy. Some of India’s the region has a high degree of electronic economic development and has cheap labor. It ranks seventh among the top ten economies in the world.
  8. Italy
    Italy’s nominal GDP is 1.85 trillion US dollars, which belongs to a mixed economy and is located in the Mediterranean region. Therefore, the tourism service industry is also very developed. However, the recent Italian economic depression has led to extremely high unemployment rates, and millions of people have begun to flee from Italy. Before the economic crisis, Italy had a high debt problem.
  9. Brazil
    Brazil’s nominal GDP is 1.798 trillion US dollars. Brazil has a large number of raw material resources, and the territory also has the world’s largest rainforest, the Amazon Rainforest, so this reflects Brazil’s agriculture, mineral resources, etc. are particularly developed, and are now constantly developing Emerging technologies to attract foreign investment.
  10. Canada
    Canada’s nominal GDP ranks last, and Canada is also a major energy exporter. It has abundant petroleum energy in the country, but today’s falling oil prices have made Canada, a major oil producer, extremely difficult. In the previous Huawei incident with China, Canada the economy further affected.

What is an economy?

An economy refers to the collective designation and division of the economic composition of a certain region, and refers to the sum of social production relations. Refers to the sum of production relations or social economic systems that are formed by people in the process of material production and are compatible with certain social productive forces. It is the basis for the establishment of superstructures such as politics, law, philosophy, religion, literature, and art.

World economy: The world economy refers to an economic community or economic cooperation group formed by multiple countries in order to achieve preferential trade policies so as to realize common economic interests in response to fierce market competition. The three most well-known and larger economies in the world are the European Union (EU), the Asia-Pacific Economic Cooperation (APEC) and the North American Free Trade Area.

Emerging economies: Emerging economies refer to the booming economy of a country or region and becoming an emerging economic entity. Regarding emerging economies, the emerging economies are currently divided into two in order: China, Brazil, India, Russia and South Africa, also known as "BRICS"; currently, they include Vietnam, Indonesia, the Philippines, South Korea, Bangladesh, Pakistan, Iran, Egypt and Nigeria, Turkey, Mexico, etc. are called "Next-11" countries. It refers to the booming economy of a certain country or region and becoming an emerging economic entity.

In addition, the top 10 economies before 2050 are predicted: China, India, the United States, Indonesia, Brazil, Russia, Mexico, Japan, Germany, and the United Kingdom. The global market in 2050 is estimated to be twice as large as it is now, and the population will increase by 26%.

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Published by Jun 12, 2020 Source :kknews

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