Top 10 Largest Economies In the World 2014
With 2013 ending, everyone wants to know where they stand in 2014. In accordance to this custom, we bring you the ten largest Economies of the world in 2014. These countries have exceeded exceptionally in building the foundations of their country to be such that other countries’ wealth dims in comparison. These top ten countries have yet to grow but as of now they are the countries with the most assets. It’s obvious that China and USA should compete as they had in the Olympics 2012. But which country snags the absolute largest economy of 2014? Let’s find out.
The UN predicts this country to grow at a rate of 5.35% in 2014. While this is less than the previous year, it keeps the average growth of the country at a blessed 7%. India is largely an agricultural country but the industrial sector is also at a boom. India is one of the most emerging economies of 2014, being the 19th largest exporter of its goods. India’s economy is estimated at about $2 trillion.
Its affluence is due to the highly variant manufacturing sector and the established substructure. It also has affiliations with the European Union (EU) and Group of 8 (G8). Italy with its exports of advanced capital and pharmaceuticals has a GDP of $2.1 trillion.
After the fall of the Soviet Union in the 1990s, Russia still managed to hold up its economy in an awe-inspiring fashion. Most of its income arrives due to it being one of the main exporters of oil. Russia conserves an economy of $2.4 trillion.
7. United Kingdom
United Kingdom has the third largest economy in Europe. Most of its revenue (78%) is received from its financial services industry. The pharmaceutical industry plays avital role in the economy as does the automotive sector, which helps with United Kingdom’s balance of payments as it is a major export. United Kingdom has a GDP of $2.5 trillion.
It has the largest economy in Latin America and it is predicted to grow even more rapidly at an average rate of more than 5%. Brazil is a part of miscellaneous monetary establishments such as WTO and G8+5. Its exports include Iron Ore and coffee products that set its economy with earnings of $ 2.6 trillion.
Behind Germany, France is the second largest economy of Europe in 2014. The country has been regarded as elite for a rather elongated time. Its tourism and agriculture industry make it the holder of a rather large piece in the economic pie. Many international cosmetic brands also originate from this country namely, L’Oreal and Avon. All of its lustrous affairs account for its $2.8 trillion GDP.
The absolute largest economy in Europe is that of Germany, and incase that wasn’t enough its industries of automobile, machinery and pharmaceuticals a GDP of $3.7 trillion.
‘The sleeping dragon’ that woke once has caused uproars with its technological encroachment. Japan is one of those countries’ that has done much to firm its foundations by investing in machinery and technical equipment. It also exports vehicles and machinery that lead to its $5.3 trillion GDP.
Well that was a mighty surprise. Given the fact that practically everything that you use has a pretty ‘Made in China’ written on the back, China still is one spot down from the US of A in economic terms. Still, it has the potential to reach number one with its exports of rice, wheat and peanuts. The Chinese economy maintains a GDP of $10 trillion. Whoa.
1. United States of America
With one of the largest economies for over a century, 2014 is no different year for the USA economy. It’s still the single largest economy in the world. USA has a variety of industries steel making, electronics and food processing. Its natural resources also help it maintain its station in the largest economies of the world with the second largest reserves of Natural gas. Also, USA is home to many multi-millionaire corporations. All the factors considered it can be seen why USA has a GDP of $17 trillion.