Top 10 GDP Ranking Countries In The World 2020

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Top 10 GDP Ranking Countries in the World 2020

What do you people think about the top richest countries in the world? We have researched included some of the Top 10 GDP Ranking Countries in the World 2020, in terms of GDP (Gross Domestic Product) Nominal. These GDP changes drastically, according to countries’ success.

Which factors are considered for a country to be Rich?

GDP Nominal, and GDP (PPP) production per capita for a country to be economically Rich, and some other factors also play a very important role like the country’s agriculture sector, industrial sector, and Service Sector, normally Service sector contributes most amount in GDP. More Factors like natural resources, etc. also play an important role in increasing the GDP of the country.

We have included Top 10 richest countries (According to GDP Nominal) in the World 2020. Let’s take a look at it…..

10. Canada GDP – ($1.76 trillion)

Canada Top 10 GDP Ranking Countries

GDP Nominal (in characters) -$1,763,090,712,906

GDP (PPP) – $1.971 trillion

Continent – North America

Currency – (CAD) Canadian Dollar $

Canada has a highly developed market economy. According to our research, Canada is at the 10th position in terms of GDP Nominal and in 16th position in terms of GDP (PPP). Canada. Nearly, three-quarters of Canadians are employed by highly developed Service-industries itself. Canada has one of the highest amounts of natural resources. Canada is also considered as a country that supplies huge-amount of energy because of its abundant natural resources produced and low population of nearly 37 million.

Why is “Canada” a Richest Country?

 Being a rich country need many qualities like Developed Service Industries, abundant natural resources, and so on. Canada has abundant natural resources i.e. of about $33.2 trillion worth of natural resources, isn’t it Amazing?Canada has highly-developed Service industries and this country is home to petroleum reserves. This country is rich in minerals like gypsum, limestone, rock salt, coal, and uranium. Importantly, this country is the 3rd largest in the delivery of Timber in the whole World.


9. Brazil GDP – ($1.93 trillion)

Brazil Top 10 GDP Ranking Countries

GDP Nominal (in characters) – $1,931,133,938,991

GDP (PPP) – $3.596 trillion

Continent – South America

Currency – Brazilian real

Brazil has shown one of the largest growth rates in the World, as with an annual GDP growth rate of 5%. This country has a developing economy, as according to our research, it is in the 9th position in our list Top 10 GDP Ranking Countries in the World 2020, and 8th largest by GDP (PPP). Brazil has a total of $20.18 trillion of natural resources.

Why is Brazil so Rich?

Brazil produces an abundance of natural resources, be it from mining like iron, gold, uranium other materials) and agriculture like soy, cattle, and so on. Brazil is a top country in the upward evolution of competitiveness, by gaining 8th positions amongst all countries, and has overcome Russia too. Some of the main industries which operate here are the Textile industry, shoe industry, chemical industry, cement industry, the lumber industry, iron industry. ore industry, tin industry, steel industry, aircraft, and motor vehicles industry and parts of other machinery and equipment.


8. Italy GDP – ($2.02 trillion)

Italy Top 10 GDP Ranking Countries

GDP Nominal (in characters) – $2,023,343,744,218

GDP (PPP) – $2.245 trillion

Continent – Europe

Currency – Italian lira

Italy has the 3rd largest economy in the European Continent. According to our research, Italy is the 8th largest in GDP Nominal and in 12th position according to GDP (PPP). In terms of Exporting, Italy has the 8th largest export company. GDP growth by sector of Italy is Agriculture: 2.1%, Industry: 23.9%, Services: 67.8%.

Why is Italy so rich?

Being the 8th largest exporter in the European Continent, it has exported around $514 billion. Some of the main industries are the Tourism industry, machinery industry, iron and steel industry, chemical industry, food processing industry, textile industry, motor vehicle industry, clothing industry, footwear industry, and ceramics industry. The agriculture industry including wine production is a revenue generation of Italy, Fashion designing and Tourism is the main sector of revenue-generating in Italy.


7. France GDP – ($2.80 trillion)

France Top 10 GDP Ranking Countries

GDP Nominal (in characters)– $2,806,715,516,026

GDP (PPP) – $3.061 trillion

Continent – Europe

Currency – Euro

France has a free-market-oriented highly developed economy and 2nd largest economy in the Europe Continent. According to our research, France holds its 7th position by means of GDP Nominal and in 12th position by means of GDP (PPP). France has a differentiated economy. Sophia Antipolis is a technology hub that contributes to the highest in the Economy of France.

What makes France a Rich Country?

Some of the main revenue-generating industries of France are the machinery industry, chemical industry, automobile industry, metallurgy industry, aircraft industry, electronic industry, textile industry, food processing industry, and the tourism industry. Chemical Sector has the highest contribution to France’s GDP. France Tourism is also a major economy in France. Paris is named as the most elegant city because of the agglomeration of the fashion industry.


6. United Kingdom GDP – ($2.89 trillion)

United Kingdom Top 10 GDP Ranking Countries

GDP Nominal (in characters) – $2,890,542,611,679

GDP (PPP) – $3.162 trillion

Continent – Europe

Currency – Pound sterling

The United Kingdom has a market-oriented highly developed social economy. According to our research, the UK is in the 6th position in terms of GDP Nominal and at 9th largest by GDP (PPP). The UK was once the 10th largest goods-exporter in the World and 5thlargest goods-importer. The UK is composed of England, Scotland, Wales, and Northern Ireland and has a globalized economy. The agriculture sector contributes 0.6%, the industrial sector contributes 18.8%, while the service sector contributes 79.7%, which is amazing.

Why is the UK a rich country?

Some of the main sectors which contribute most to the economy of the UK are services, manufacturing, construction, and tourism. The main Financial Hub of the UK is London. UK also has a qualified population, a stable political system, and stable currency, and attracting foreign investments.



5. India GDP – ($3.27 trillion)

India Top 10 GDP Ranking Countries

GDP Nominal (in characters) – $3,278,289,055,165

GDP (PPP) – $11.321 trillion

Continent – Asia

Currency – Indian Rupees

India has a developing market economy. According to our research, India is in the 5th position in terms of GDP Nominal and is third-largest in terms of GDP (PPP). From the 21st century, the annual growth of GDP has shown an increase of 6% to 7%. India was the fastest economy growing country as it also surpassed China.

Why India is a Rich Country?

Contribution from the Agriculture sector is 15.4%, the contribution from the industrial sector is 23%, and contribution from the Service sector is 61.5%. The perspective of long-term growth is always positive in the Youth of India, healthy savings, and investment rates, which has an increasing integration in the Global Economy of India.

India has many types of Main Industries like Textile industry, chemical industry, food industry, processing agribusiness industry handicraft industry, petroleum industry, petrochemical industry, gems and jewelry industry, leather industry, iron industry, ore industry, steel industry, aluminum industry, cement industry, mining industry, metal industry, retail industry, machinery industry, information & technology industry, construction, financial services, electric power consumer industry, goods industry pharmaceutical industry, automotive industry, telecommunication industry, real estate industry, paper industry, transportation industry, etc.


4. Germany GDP – ($3.61 trillion)

Germany

GDP Nominal (in characters) – $3,615,315,527,686

GDP (PPP) – $4.4 trillion

Continent – Europe

Currency – Euro

Germany has a market-oriented highly developed social economy. According to our research, Germany is in the 4th position according to the GDP Nominal and 5th position in terms of GDP (PPP). Germany has once recorded the highest trade surplus worldwide of $310billion, making Germany the largest capital exporter globally. Germany Exports electric equipment, medical products, vehicles, chemicals, metals, and machines.

Why is Germany so Rich Country?

The Agriculture sector of Germany contributes around 0.9% of GDP, the Industrial sector contributes 29.1% and the Service sector contributes 70%. Germany exploits minor sources of natural gas and Uranium. Germany has the strongest medical science technology which also attracts youths to study abroad.


3. Japan GDP – ($5.47 trillion)

Japan

GDP Nominal (in characters) – $5,472,722,281,795

GDP (PPP) – $5.712 trillion

Continent – Asia

Currency – Japanese yen

Japan has a highly developed free-market-oriented economy. According to our research, Japan is in the 3rd position in terms of GDP Nominal ranking, and 4th position in terms of GDP (PPP) ranking. Japan’s GDP fluctuates rapidly according to the volatile currency exchange rate. The Nikkei 225 of Japan is the World’s third-largest stock exchange by the market.

Why Japan is so Rich Country?

Japan has the largest automobile manufacturing company which contributes most to GDP. This country also has the largest electronic goods industry. Japan mainly pays attention to High-tech and precise goods such as robotics and hybrid vehicles. Japan has main industries like the Motor vehicle industry, electronic industry, equipment industry, machine industry, steel industry, non-ferrous metal industry, chemical industry, textile industry, and the processed food industry.


2. China GDP – ($15.22 trillion)

china hongkong

GDP Nominal (in characters) – $15,222,441,265,060

GDP (PPP) – $27.307 trillion

Continent – Asia

Currency – Chinese Yuan

China has a centrally-planned market-oriented economy. According to our research, China is in 2nd position in terms of GDP Nominal ranking. China has a private sector that contributes over 70 to 80% of GDP. Private Sectors are very important for China as they are responsible for 80% of urban employment and 70% of new jobs. This country has $23 million worth of natural resources.

What is China so Rich Country?

The natural resource of China includes mainly coal and earth-metals. China has 4th largest inward-FDI (foreign direct investment), and 11th largest FDI. There are a total of 500 largest companies around the World, out of it 129 companies are headquartered in China itself. Some of the main industries of China are Mining ore, processing, iron, steel, aluminum, and other metals, coal, machine building, textiles, petroleum, cement, chemicals, fertilizer, food processing, information technology, transportation, equipment, automobiles, rail, cars, telecoms equipment, locomotives, ships, aircraft, space launch, vehicles, satellites, consumer products (including footwear, toys, electronics)military equipment, financial services, electric power.



1.United States of America GDP – ($21.96 trillion)

United States of America

GDP Nominal (in characters) – $21,960,165,509,690

GDP (PPP) – $22.321 trillion

Continent – North America

Currency – United States Dollar (USD)

The United States of America had a highly-developed market-oriented and mixed economy. USA holds the top position in terms of GDP Nominal, 2nd position in terms of purchasing power parity (PPP). The US has the most technologically powerful economy in various fields like medical sciences, pharmaceuticals, Aerospace technology, and highly-magnificent military tools.

Why the USA is the richest country worldwide?

The USA has an abundance of natural resources. This country has a well-developed infrastructure and highest productivity. The estimated value of natural resources is $45trillion.This country has the highest household and employee income in all OECD members. The USA is the highest producer of petroleum and natural gas.

Some of the main industries of the USA are:-   Petroleum industry, natural gas, steel industry, motor vehicle industry, aerospace industry, chemical industry, telecommunication industry, electronics, food processing industry, pharmaceuticals, consumer goods, lumber mining, defense equipment, health care industry, information technology,  construction, retail, real estate, and financial services.


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