Top 5 Economy of World

1. The United States GDP The united state economy lie in top most rank in world. If we observe GDP of USA, It reveals that it has largest economy since 1871. The GDP is $21.3 trillion (2019 est.). It is first largest country in terms of GDP whereas it is second largest country in terms of PPP (2018). The U.S. is often dubbed as an economic superpower and that’s because the economy constitutes almost a quarter of the global economy backed by advanced infrastructure, technology, and abundance of natural resources.USA economy is mainly based on service oriented economy. The contribution of Service sector to nation GDP is 80.2% (2019) followed by Manufacturing sector 18.9% (2019) and agriculture 0.9% (2019). The U.S. economy is projected to grow to $24.53 trillion by 2023 followed closely by China at $21.57 trillion.

2. China GDP The china is second largest economy in the world followed to USA. The GDP of china is $14.2 trillion (nominal; 2019 est.) $27.3 trillion ( PPP ; 2019 est.).it is first largest country in terms of PPP. Agriculture has least contribution in GDP which is 7.9% and service sector has highest contribution which is 51.6% followed by industry which is 40.5%. (2017) In 2017, the U.S. economy, in terms of GDP (PPP) was at $19.39 trillion while the Chinese economy was measured at $23.16 trillion. This reveal that china economy is exponentially growing to top most level. The China is king of manufacturing so often it is called as ‘Words Factory. There is larger contribution of manufacturing sector in GDP followed by Service.But in recently service sector are growing rapidly and manufacturing sector are declining.The china, Asian giant has seen an economic growth averaging 10% annually.

3. Japan GDP Japan is third largest economy in the world followed to China and USA. The Japan Nominal GDP: $5.18 trillion & Japan GDP (PPP): $5.75 trillion (2019 est.) Japan is third largest country by GDP and fourth largest economy in terms of PPP. Service sector has larger contribution in GDP which is about 68.7% followed by industry which is 30.1% and agriculture which is 1.1%.(2017 est.). Due to economical crisis in 2008, Japan is facing challenge to recover the economical procession. During crisis time, the global crisis triggered a recession followed by weak domestic demand and huge public debt. Japan can be regarded as misfortune due to occurrence of natural disaster; earthquake. Due to earthquake, japan faced loss in social and economical wealth. Japan slips to the fourth spot when GDP is measured in terms of PPP; GDP (PPP) was $5.42 billion in 2017 while its GDP per capita was $38,439.52 (25th spot).

4. Germany GDP German is the first, largest economy In Europe and fourth largest economy in the world followed by United kingdom. The Germany Nominal GDP: $3.68 trillion whereas Germany GDP (PPP): $4.17 trillion. This show’s that German is fourth largest country in terms of GDP and fifth largest country in terms of GDP (PPP). The main contribution in GDP is by service sector which is 69.3% (2017) followed by industry which is 30.1% . There is mere contribution of agriculture sector that is 0.6%. German is 3rd largest exporter in global trade. To revise its manufacturing strength in the current global scenario, Germany has launched Industrie 4.0 — its strategic initiative to establish the country as a lead market and provider of advanced manufacturing solutions.

5. United Kingdom GDP United Kingdom is 5th largest economy in the world. The UK GDP $2.829 trillion (nominal; 2019) $3.128 trillion (PPP; 2019). It is 9th largest economy in terms of PPP. The annual growth rate is 1.8% (Q1 2019) and 1.5% (2018 tyd.).Service sector has larger contribution in GDP by 80.2% followed by industry which is 19.2%. and agriculture 0.6% (est 2016). Starting from 1992 until 2008, the economy of the UK witnessed an uptrend in each quarter. However, it witnessed a decline in its output for consecutive five quarters starting April 2

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