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Top 15 Largest Economies In the World – 2019

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With 2018 ending, everyone wants to know where they stand in 2019. In accordance to this custom, we bring you the 15 largest Economies of the world in 2019. These countries have exceeded exceptionally in building the foundations of their country to be such that other countries’ wealth dims in comparison.  These top 15 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 2016. But which country snags the absolute largest economy of 2019? Let’s find out.

15. Mexico

Mexico City

Mexico signed free trade agreements with 46 countries, putting more than 90% of its trade under free trade agreements. The major exports from Mexico are manufactured goods, electronics, vehicles and auto parts, oil and oil products, silver, plastics, fruits, vegetables, coffee and cotton. Mexico is the world’s leading producer of silver. Mexico’s main export partners is United States with 80% exports. Mexico’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$2.707 Trillion in 2019, and $1.285 Trillion in nominal exchange rates.

14. Australia

Australia, Sydney

Australia is a substantial exporter of natural resources, energy, and food. Australia’s rich and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. Its main export partners are China, Japan, South Korea, India and Hong Kong. Australia’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 1.382 Trillion in 2019, and $1.581 Trillion in nominal exchange rates.

13. Spain

Spain, Madrid

Spain’s export competitiveness has been improved by increasing labor productivity and an internal deflation resulting from moderating labor costs and lower inflation which generated foreign investor interest in the economy. Spain is exporter of machinery, motor vehicles; foodstuffs, pharmaceuticals, medicines, and other consumer goods and its main export partners are France, Germany, Italy, Portugal, United Kingdom and United States of America. Spain’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 1.946 Trillion in 2019, and $1.584 Trillion in nominal exchange rates.

12. Russia

Russia, Petersburg

Russia is one of the world’s top producers of petroleum and petroleum products, natural gas, metals, wood and wood products and chemicals. It also exports a wide variety of civilian and military equipment. Its main export partners are China, Netherlands, Germany, Belarus and Turkey. Russia’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 4.322 Trillion in 2019, and $1.754 Trillion in nominal exchange rates.

11. South Korea

South Korea, Seoul

South Korea is the country behind world’s multinational brands like Samsung, LG, Daewoo and Hyundai. South Korea’s main export products are semiconductors, petrochemicals, automobile/auto parts, ships, wireless communication equipment, flat displays, steel, electronics, plastics and computers and its main export partners are China, United States, Vietnam, Hong Kong and Japan. South Korea’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 2.248 Trillion in 2019, and $1.777 Trillion in nominal exchange rates.

10. Canada

Canada, Ottawa

Canada is the major foreign supplier of energy to the United States, including oil, natural gas, and electric power, and a top exporter of uranium to the US. Canada exports motor vehicles and parts, industrial machinery, aircraft, telecommunications equipment; chemicals, plastics, fertilizers; wood pulp, timber, crude petroleum, natural gas, electricity and aluminum. Its main export partners are United States and China. Canada’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 1.925 Trillion in 2019, and $1.908 Trillion in nominal exchange rates.

9. Brazil

Brazil, Sao Paulo

Brazil’s main exports are transport equipment, iron ore, soybeans, footwear, coffee and automobiles and its main export partners are China, United States, Argentina and Netherlands. Brazil’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 3.550 Trillion in 2019, and $2.257 Trillion in nominal exchange rates.

8. Italy

Italy, Rome

Italy’s major exports are engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals and its main export partners are Germany, France, United States of America, Spain, United Kingdom and Switzerland. Italy’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 2.480 Trillion in 2019, and $2.261 Trillion in nominal exchange rates.

7. United Kingdom

United Kingdom, London

United Kingdom exports manufactured goods, fuels, chemicals; food, beverages, tobacco and automobiles. Its main export partners are United States, Germany, France, Netherlands, Ireland, China and Switzerland. United Kingdom’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 3.141 Trillion in 2019, and $3.022 Trillion in nominal exchange rates.

6. France

France, Paris

France is the country of multinational cosmetic brands like, L’Oreal and Avon. Other than cosmetics France exports machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, textile and apparel, and beverages. Its main export partners are Germany, Spain, Italy, United States, Belgium and United Kingdom. France’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 3.085 Trillion in 2019, and $3.060 Trillion in nominal exchange rates.

5. India

India, Delhi

United Nations predicts India’s GDP growth is expected to rise to 7.5 and 7.6% in fiscal years 2017-18 and 2018-19 respectively. 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 2019, with exports of petroleum products, precious stones, vehicles, machinery, iron and steel, chemicals, pharmaceutical products, cereals, apparel. India has also become a major exporter of information technology services, business outsourcing services, and software workers. Its main export partners are United States, United Arab Emirates, Hong Kong and China. India’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 11.436 Trillion in 2019, and $3.155 Trillion in nominal exchange rates.

4. Germany

Germany, Berlin

Germany is one of the largest economies in Europe, with industries of automobile, machinery and pharmaceuticals. It’s the origin of famous car manufacturers such as Mercedes-Benz, Audi, BMW Volkswagen and world’s most popular sportscar brand Lamborghini is also owned by Volkswagen. Germany’s major exports are motor vehicles, machinery, chemicals, computer and electronic products, electrical equipment, pharmaceuticals, metals, transport equipment, foodstuffs, textiles, rubber and plastic products. Its export partners are United States, France, China, Netherlands, United Kingdom, Italy, Austria, Poland and Switzerland. Germany’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 4.558 Trillion in 2019, and $4.416 Trillion in nominal exchange rates.

3. Japan

Japan, Tokyo

Japan’s automotive industry is one of the most prominent and largest industries in the world. Being the origin of famous multinational car brands like Toyota, Lexus, Nissan, Infiniti, Honda, Acura, Suzuki and Mitsubishi, Japan has been in the top three of the countries with most cars manufactured since the 1960s, surpassing Germany. Japan’s main exports are motor vehicles, iron and steel products, semiconductors, auto parts, power generating machinery and plastic materials. Its major export partners are United States, China, South Korea, Hong Kong and Thailand. Japan’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 5.794 Trillion in 2019, and $5.362 Trillion in nominal exchange rates.

2. China

China, Beijing

Given the fact that practically everything that you use has a pretty ‘Made in China’ written on the back, China and that also includes your iPhone, MacBook and your Dell PC. It has the huge potential to reach number one with its exports. It is believed that largest exporter in the world. China’s main exports are electrical and other machinery, including computers and telecommunications equipment, apparel, furniture, textiles. Its major export partners are United States, Hong Kong, Japan and South Korea. China’s Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 27.438 Trillion in 2019, and $15.544 Trillion in nominal exchange rates.

1. United States

United States of America, Washington DC

Having highly developed mixed economy, United States has a highly diversified, world-leading industrial sector. United States in the country behind great inventions such as Pocket Calculator, Personal Computer, Laser Printer, 3D Printer, Graphical User Interface (GUI), Electronic Spread Sheet, E-mail, eCommerce, Universal Product Code (UPC) and many others which made it the second-largest industrial output in the world. Its main exports are agricultural products (soybeans, fruit, corn), industrial supplies (organic chemicals), capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) and consumer goods (automobiles, medicines). Its major export partners are Canada, Mexico, China and Japan. United States’ Gross Domestic Product (GDP) in purchasing power parity (PPP) is estimated at US$ 21.410 Trillion in 2019, and $21.410 Trillion in nominal exchange rates.

Sources

The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on March 5, 2019

World Economic Outlook Database, Report for Selected Countries and Subjects, International Monetary Fund. Accessed on March 5, 2019

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