The financial well-being of a nation is demonstrated by its GDP (Gross Domestic Product), which represents the entire worth of all the commodities and services produced by a country in a specified year. The actual GDP is instrumental in assessing a country’s economic position. Changes in a nation’s currency exchange rate may also result in diverse outcomes.

1.            United States

The actual gross domestic product of the United States is projected to be $20.94 trillion. The US services industry is significantly more advanced and technologically advanced. This reality represents roughly 80% of overall production. Consequently, the primary role played on the international level is  by the biggest businesses and the contribution made by companies providing services in technology,  finance, retail and healthcare sectors.

2.            China

Over the past few decades, there has been remarkable expansion in the Chinese economy. This reality has enabled the nation to secure the highly sought-after second position among the world’s leading 10 economies. In the year 2020, the actual gross domestic product of China amounted to $14.72 trillion.

3.            Japan

According to the projection of actual GDP, Japan’s economy currently stands at the third position with an approximation of $5.05 trillion. In the 60s, 70s, and 80s, Japan’s economy witnessed a substantial surge. However, in the 90s, the economy was not as remarkable. In the last ten years, it has been striving to boost its economy.

4.            Germany

Germany ranks fourth among the world’s largest economies with an actual GDP of $3.84 trillion. In 2010, the country’s economy experienced a 4.0% growth after a temporary decline in 2009. Subsequently, Germany has maintained steady progress in the following years.

5.            United Kingdom

From 1999 to 2008, the UK’s Gross Domestic Product (GDP) experienced an average yearly increase of 2.8%. Nonetheless, it is expected that the growth rate will decrease due to a decline in personal spending and a decrease in fixed investments caused by the unstable circumstances created by BREXIT. Despite this, the UK, with a real GDP of $2.76 trillion, will remain among the leading 10 economies worldwide.

6.            India

With a real GDP of $2.66 trillion, India has now surpassed the France in economic development and secured the sixth position in the list of the world’s most prominent economies. Among the large economies, India’s economy has also emerged as the quickly growing economy globally.

7.            France

The GDP approximation of France is $2.63 trillion. Currently, more than 70% of the country’s GDP originates from the service industry. France is furthermore the topmost frontrunner worldwide in the fields of automobile, aerospace, and railways.

8.            Italy

Being the third-largest economy in the EU, Italy boasts of a sophisticated market. It is also renowned for its dynamic and pioneering business economy, a hardworking and thriving agricultural sector. The actual GDP of Italy is approximated to be $1.88 trillion, positioning it as the globally eighth largest economy.

9.            Canada

Canada’s actual Gross Domestic Product (GDP) is estimated at $1.64 trillion, which positions it as the world’s ninth biggest economy. Although it maintains its position as the ninth largest global economy, Canada is merely one spot ahead of South Korea.

10.          South Korea South Korea is an advanced hybrid economy and stands as the fourth biggest economy in Asia. Despite the Great Recession, the nation continues to be one of the rapidly flourishing developed countries worldwide. As per the prediction of actual GDP, the South Korean economy claims the tenth position, with a worth of $1.63 trillion.