Knowing the economic specifics of different countries can help when making travel plans. We consulted the World Bank to help you with your itinerary. Here, based on GDP (Gross Domestic Product), are the richest countries in the world.

Who are the richest countries in the world?

1. United States of America

The US has a nominal GDP of $20.89 trillion. This is credited to entrepreneurship, research, and a decentralized government. Its PPP ( Purchasing Power Parity) is also $20.89 trillion.  

2. China 

China’s nominal GDP is $14.72 trillion. It has a fast-growing economy, the world’s second-largest. The nation’s PPP is $17,204 trillion. China’s a major influencer in world economics.

3.Japan

The nominal GDP of Japan is $5.06 trillion. It has a PPP of $5.24 trillion. Japan’s the largest electronics producer and one of the biggest auto manufacturers.

4.Germany

Germany has a nominal GDP of $3.85 trillion and a PPP of $4.45 trillion. The country’s standing is credited to its thriving service industries: healthcare, telecommunications, and tourism.

5. United Kingdom

With a nominal GDP of $2.76 trillion and a PPP of $2.98 trillion, the UK has the world’s fifth-largest economy but Europe’s second-largest.

6. India

India slots in with a nominal GDP of $2.66 trillion and a PPP of $8.68 trillion. Experts credit government policy changes to encourage growth and foreign direct investment. 

7. France

France, the world’s most-visited tourist destination, has a nominal GDP of $2.63 trillion and a $2.95 trillion PPP. The country also does a lot of foreign trading reserve the use by FX dealing platform.

8. Italy

Italy, significantly influential in Europe, has a nominal GDP of $1.88 trillion and a PPP of $2.42 trillion. The country’s economic growth is driven by the consumer goods trade.

9. Canada

Since 1995, Canada has been active in the World Trade Organization). Its favorable Free Trade Agreements influence its nominal GDP of $1.64 trillion and $1.81 trillion PPP.

10.South Korea

Noteworthy economic reforms a.k.a. “the Miracle of the Hangang River” played a part in South Korea’s $1.63 trillion nominal GDP and $2.29 trillion PPP.

11. Russia

Russia’s nominal GDP of $1.48 trillion and PPP of $4.02 trillion is credited to privatization. Profits from energy, natural gas, and oil “drive” its economy.

12. Brazil

Brazil has a nominal GDP of $1.44 trillion and a $3.08 trillion PPP. Brazil’s natural resources are worth $21.8 trillion and they trade with 100+ countries.

13. Australia

Australia initiated a new foreign policy in 2017. This encouraged business growth which led to a $1.31 trillion PPP and a $1.33 trillion nominal GDP.

14. Spain

Spain’s $1.28 trillion nominal GDP, $1.77 trillion PPP, and inclusion here are due to a clear regulatory system, some structural reforms, and solid economic institutions.

15. Indonesia

Indonesia is Southeast Asia’s largest economy. It has a $1.05 trillion nominal GDP and $3.33 trillion PPP. Government spending and the domestic market are of significant influence.