Markets

Top Heavy: Countries by Share of the Global Economy

Published

1 year ago

December 29, 2022

Avery Koop

countries by share of the global economy in 2022

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Countries by Share of the Global Economy

As 2022 comes to a close we can recap many historic milestones of the year, like the Earth’s population hitting 8 billion and the global economy surpassing $100 trillion.

In this chart, we visualize the world’s GDP using data from the IMF, showcasing the biggest economies and the share of global economic activity that they make up.

ℹ️ Gross Domestic Product (GDP) is a broad indicator of the economic activity within a country. It measures the total value of economic output—goods and services—produced within a given time frame by both the private and public sectors.

The GDP Heavyweights

The global economy can be thought of as a pie, with the size of each slice representing the share of global GDP contributed by each country. Currently, the largest slices of the pie are held by the United States, China, Japan, Germany, and India, which together account for more than half of global GDP.

Here’s a look at every country’s share of the world’s $101.6 trillion economy:

Rank	Country	GDP (Billions, USD)
#1	🇺🇸 United States	$25,035.2
#2	🇨🇳 China	$18,321.2
#3	🇯🇵 Japan	$4,300.6
#4	🇩🇪 Germany	$4,031.1
#5	🇮🇳 India	$3,468.6
#6	🇬🇧 United Kingdom	$3,198.5
#7	🇫🇷 France	$2,778.1
#8	🇨🇦 Canada	$2,200.4
#9	🇷🇺 Russia	$2,133.1
#10	🇮🇹 Italy	$1,997.0
#11	🇮🇷 Iran	$1,973.7
#12	🇧🇷 Brazil	$1,894.7
#13	🇰🇷 South Korea	$1,734.2
#14	🇦🇺 Australia	$1,724.8
#15	🇲🇽 Mexico	$1,424.5
#16	🇪🇸 Spain	$1,389.9
#17	🇮🇩 Indonesia	$1,289.4
#18	🇸🇦 Saudi Arabia	$1,010.6
#19	🇳🇱 Netherlands	$990.6
#20	🇹🇷 Turkey	$853.5
#21	🇹🇼 Taiwan	$828.7
#22	🇨🇭 Switzerland	$807.4
#23	🇵🇱 Poland	$716.3
#24	🇦🇷 Argentina	$630.7
#25	🇸🇪 Sweden	$603.9
#26	🇧🇪 Belgium	$589.5
#27	🇹🇭 Thailand	$534.8
#28	🇮🇱 Israel	$527.2
#29	🇮🇪 Ireland	$519.8
#30	🇳🇴 Norway	$504.7
#31	🇳🇬 Nigeria	$504.2
#32	🇦🇪 United Arab Emirates	$503.9
#33	🇪🇬 Egypt	$469.1
#34	🇦🇹 Austria	$468.0
#35	🇧🇩 Bangladesh	$460.8
#36	🇲🇾 Malaysia	$434.1
#37	🇸🇬 Singapore	$423.6
#38	🇻🇳 Vietnam	$413.8
#39	🇿🇦 South Africa	$411.5
#40	🇵🇭 Philippines	$401.7
#41	🇩🇰 Denmark	$386.7
#42	🇵🇰 Pakistan	$376.5
#43	🇭🇰 Hong Kong SAR	$368.4
#44	🇨🇴 Colombia	$342.9
#45	🇨🇱 Chile	$310.9
#46	🇷🇴 Romania	$299.9
#47	🇨🇿 Czech Republic	$295.6
#48	🇮🇶 Iraq	$282.9
#49	🇫🇮 Finland	$281.4
#50	🇵🇹 Portugal	$255.9
#51	🇳🇿 New Zealand	$242.7
#52	🇵🇪 Peru	$239.3
#53	🇰🇿 Kazakhstan	$224.3
#54	🇬🇷 Greece	$222.0
#55	🇶🇦 Qatar	$221.4
#56	🇩🇿 Algeria	$187.2
#57	🇭🇺 Hungary	$184.7
#58	🇰🇼 Kuwait	$183.6
#59	🇲🇦 Morocco	$142.9
#60	🇦🇴 Angola	$124.8
#61	🇵🇷 Puerto Rico	$118.7
#62	🇪🇨 Ecuador	$115.5
#63	🇰🇪 Kenya	$114.9
#64	🇸🇰 Slovakia	$112.4
#65	🇩🇴 Dominican Republic	$112.4
#66	🇪🇹 Ethiopia	$111.2
#67	🇴🇲 Oman	$109.0
#68	🇬🇹 Guatemala	$91.3
#69	🇧🇬 Bulgaria	$85.0
#70	🇱🇺 Luxembourg	$82.2
#71	🇻🇪 Venezuela	$82.1
#72	🇧🇾 Belarus	$79.7
#73	🇺🇿 Uzbekistan	$79.1
#74	🇹🇿 Tanzania	$76.6
#75	🇬🇭 Ghana	$76.0
#76	🇹🇲 Turkmenistan	$74.4
#77	🇱🇰 Sri Lanka	$73.7
#78	🇺🇾 Uruguay	$71.2
#79	🇵🇦 Panama	$71.1
#80	🇦🇿 Azerbaijan	$70.1
#81	🇭🇷 Croatia	$69.4
#82	🇨🇮 Côte d'Ivoire	$68.6
#83	🇨🇷 Costa Rica	$68.5
#84	🇱🇹 Lithuania	$68.0
#85	🇨🇩 Democratic Republic of the Congo	$63.9
#86	🇷🇸 Serbia	$62.7
#87	🇸🇮 Slovenia	$62.2
#88	🇲🇲 Myanmar	$59.5
#89	🇺🇬 Uganda	$48.4
#90	🇯🇴 Jordan	$48.1
#91	🇹🇳 Tunisia	$46.3
#92	🇨🇲 Cameroon	$44.2
#93	🇧🇭 Bahrain	$43.5
#94	🇧🇴 Bolivia	$43.4
#95	🇸🇩 Sudan	$42.8
#96	🇵🇾 Paraguay	$41.9
#97	🇱🇾 Libya	$40.8
#98	🇱🇻 Latvia	$40.6
#99	🇪🇪 Estonia	$39.1
#100	🇳🇵 Nepal	$39.0
#101	🇿🇼 Zimbabwe	$38.3
#102	🇸🇻 El Salvador	$32.0
#103	🇵🇬 Papua New Guinea	$31.4
#104	🇭🇳 Honduras	$30.6
#105	🇹🇹 Trinidad and Tobago	$29.3
#106	🇰🇭 Cambodia	$28.3
#107	🇮🇸 Iceland	$27.7
#108	🇾🇪 Yemen	$27.6
#109	🇸🇳 Senegal	$27.5
#110	🇿🇲 Zambia	$27.0
#111	🇨🇾 Cyprus	$26.7
#112	🇬🇪 Georgia	$25.2
#113	🇧🇦 Bosnia and Herzegovina	$23.7
#114	🇲🇴 Macao SAR	$23.4
#115	🇬🇦 Gabon	$22.2
#116	🇭🇹 Haiti	$20.2
#117	🇬🇳 Guinea	$19.7
#118	West Bank and Gaza	$18.8
#119	🇧🇳 Brunei	$18.5
#120	🇲🇱 Mali	$18.4
#121	🇧🇫 Burkina Faso	$18.3
#122	🇦🇱 Albania	$18.3
#123	🇧🇼 Botswana	$18.0
#124	🇲🇿 Mozambique	$17.9
#125	🇦🇲 Armenia	$17.7
#126	🇧🇯 Benin	$17.5
#127	🇲🇹 Malta	$17.2
#128	🇬🇶 Equatorial Guinea	$16.9
#129	🇱🇦 Laos	$16.3
#130	🇯🇲 Jamaica	$16.1
#131	🇲🇳 Mongolia	$15.7
#132	🇳🇮 Nicaragua	$15.7
#133	🇲🇬 Madagascar	$15.1
#134	🇬🇾 Guyana	$14.8
#135	🇳🇪 Niger	$14.6
#136	🇨🇬 Republic of Congo	$14.5
#137	🇲🇰 North Macedonia	$14.1
#138	🇲🇩 Moldova	$14.0
#139	🇹🇩 Chad	$12.9
#140	🇧🇸 The Bahamas	$12.7
#141	🇳🇦 Namibia	$12.5
#142	🇷🇼 Rwanda	$12.1
#143	🇲🇼 Malawi	$11.6
#144	🇲🇺 Mauritius	$11.5
#145	🇲🇷 Mauritania	$10.1
#146	🇹🇯 Tajikistan	$10.0
#147	🇰🇬 Kyrgyzstan	$9.8
#148	🇽🇰 Kosovo	$9.2
#149	🇸🇴 Somalia	$8.4
#150	🇹🇬 Togo	$8.4
#151	🇲🇪 Montenegro	$6.1
#152	🇲🇻 Maldives	$5.9
#153	🇧🇧 Barbados	$5.8
#154	🇫🇯 Fiji	$4.9
#155	🇸🇸 South Sudan	$4.8
#156	🇸🇿 Eswatini	$4.7
#157	🇸🇱 Sierra Leone	$4.1
#158	🇱🇷 Liberia	$3.9
#159	🇩🇯 Djibouti	$3.7
#160	🇧🇮 Burundi	$3.7
#161	🇦🇼 Aruba	$3.5
#162	🇦🇩 Andorra	$3.3
#163	🇸🇷 Suriname	$3.0
#164	🇧🇹 Bhutan	$2.7
#165	🇧🇿 Belize	$2.7
#166	🇱🇸 Lesotho	$2.5
#167	🇨🇫 Central African Republic	$2.5
#168	🇹🇱 Timor-Leste	$2.4
#169	🇪🇷 Eritrea	$2.4
#170	🇬🇲 The Gambia	$2.1
#171	🇨🇻 Cabo Verde	$2.1
#172	🇸🇨 Seychelles	$2.0
#173	🇱🇨 St. Lucia	$2.0
#174	🇦🇬 Antigua and Barbuda	$1.7
#175	🇬🇼 Guinea-Bissau	$1.6
#176	🇸🇲 San Marino	$1.6
#177	🇸🇧 Solomon Islands	$1.6
#178	🇰🇲 Comoros	$1.2
#179	🇬🇩 Grenada	$1.2
#180	🇰🇳 St. Kitts and Nevis	$1.1
#181	🇻🇺 Vanuatu	$1.0
#182	🇻🇨 St. Vincent and the Grenadines	$1.0
#183	🇼🇸 Samoa	$0.83
#184	🇩🇲 Dominica	$0.60
#185	🇸🇹 São Tomé and Príncipe	$0.51
#186	🇹🇴 Tonga	$0.50
#187	🇫🇲 Micronesia	$0.43
#188	🇲🇭 Marshall Islands	$0.27
#189	🇵🇼 Palau	$0.23
#190	🇰🇮 Kiribati	$0.21
#191	🇳🇷 Nauru	$0.13
#192	🇹🇻 Tuvalu	$0.06
#193	🇺🇦 Ukraine	Data not available
Total World GDP		$101,559.3

Just five countries make up more than half of the world’s entire GDP in 2022: the U.S., China, Japan, India, and Germany. Interestingly, India replaced the UK this year as a top five economy.

Adding on another five countries (the top 10) makes up 66% of the global economy, and the top 25 countries comprise 84% of global GDP.

The World’s Smallest Economies

The rest of the world — the remaining 167 nations — make up 16% of global GDP. Many of the smallest economies are islands located in Oceania.

Here’s a look at the 20 smallest economies in the world:

Country	GDP (Billions, USD)
🇹🇻 Tuvalu	$0.06
🇳🇷 Nauru	$0.13
🇰🇮 Kiribati	$0.21
🇵🇼 Palau	$0.23
🇲🇭 Marshall Islands	$0.27
🇫🇲 Micronesia	$0.43
🇹🇴 Tonga	$0.50
🇸🇹 São Tomé and Príncipe	$0.51
🇩🇲 Dominica	$0.60
🇼🇸 Samoa	$0.83
🇻🇨 St. Vincent and the Grenadines	$0.95
🇻🇺 Vanuatu	$0.98
🇰🇳 St. Kitts and Nevis	$1.12
🇬🇩 Grenada	$1.19
🇰🇲 Comoros	$1.24
🇸🇧 Solomon Islands	$1.60
🇸🇲 San Marino	$1.62
🇬🇼 Guinea-Bissau	$1.62
🇦🇬 Antigua and Barbuda	$1.69
🇱🇨 St. Lucia	$1.97

Tuvalu has the smallest GDP of any country at just $64 million. Tuvalu is one of a dozen nations with a GDP of less than one billion dollars.

The Global Economy in 2023

Heading into 2023, there is much economic uncertainty. Many experts are anticipating a brief recession, although opinions differ on the definition of “brief”.

Some experts believe that China will buck the trend of economic downturn. If this prediction comes true, the country could own an even larger slice of the global GDP pie in the near future.

🔮🔮🔮
Speaking of predictions, we’re creating the ultimate cheatsheet for 2023.
See what hundreds of experts are predicting for 2023 with our Global Forecast Series.

Where does this data come from?

Source: IMF (International Monetary Fund)

Data note: Due to conflict and other issues, some countries are not included in this data set (e.g. Ukraine, Syria, Afghanistan). Major sources for GDP data differ widely on the size of Iran’s economy. It’s worth noting that this data from IMF ranks Iran’s GDP much higher than World Bank or the UN.

Related Topics:GDP GDP growth china gdp global gdp world gdp u.s. gdp germany gdp

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Comparing Saudi Aramco’s $1.9T Valuation to Its Rivals

See how much larger Saudi Aramco’s market cap is compared to rivals like Chevron, ExxonMobil, and Shell.

Published

1 day ago

May 31, 2024

Marcus Lu

Putting Saudi Aramco’s Market Cap Into Perspective

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

As of May 2024, there are just six trillion-dollar companies in the world, and only one of them is an oil company.

In this graphic, we put Saudi Aramco’s market cap into perspective by comparing it to the rest of the world’s largest oil companies. Numbers were sourced from Companiesmarketcap.com, and are as of May 24, 2024.

Data and Takeaways

The data we used to create this graphic are listed in the table below.

Company	Market Cap (as of May 24, 2024)
🇸🇦 Saudi Aramco	$1,914B
🇺🇸 Exxon Mobil	$509B
🇺🇸 Chevron	$288B
🇨🇳 Petro China	$243B
🇳🇱 Shell	$225B
🇫🇷 TotalEnergies	$165B
🇺🇸 ConocoPhillips	$137B
🇬🇧 BP	$103B
🇨🇳 Sinopec	$102B

Saudi Aramco launched its initial public offering (IPO) on December 11, 2019. It remains the largest IPO in history, raising $25.6 billion and valuing the company at $1.7 trillion. Aramco is also the only trillion-dollar company that isn’t based in the United States.

As of 2022, Aramco had proven reserves equal to 259 billion barrels of oil equivalent, which is massively greater than rivals like ExxonMobil (17.7 billion) and Chevron (11.2 billion).

$1.9T*

It should be noted that the Saudi government directly owns 90% of the company, while another 8% is held by the country’s sovereign wealth fund. With only 2% of shares available to the public, some believe that the company’s current valuation carries little weight.

For example, a Bloomberg op-ed from 2023 described Aramco’s valuation as an “illusion” due to its very low trading volume. Over a one year period, Aramco’s average daily turnover was just $51 million, compared to $1.9 billion for ExxonMobil and $1.4 billion for Chevron.