World Economy Ranking 2024 : business and economics, India Secures Fifth Place

Every year according to GDP measures the list of world economy rankings is released. The world economy ranking is determined as per the growth of the country. There are many countries which contain more than 5 trillion USD.  However the wealth of the whole country does not determine the wealth of each person in the country. Growth domestic product is used to determine The wealth of the whole nation, either it is contained in one hand or in the whole nation. To know all about World Economy Ranking 2024 stay with us in this post at last.

World Economy Ranking 2024

This is the market value of the goods and services produced and sold by the nation in the given time period is measured by GDP. There are various ways to calculate the GDP but one of the common methods is to calculate it by subtracting the total export value from the total import value for the year. This is how the GDP of each country is calculated and as per the GDP every year the world economy ranking releases. The GDP of several economies throughout the world fluctuates more because of changes in the economic policies and the situations like war.

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Various countries nowadays are in the war situation, due to this not only the country is affected but the whole world is affected. The reason behind that is globalisation and the globalised world. According to the World Economy Ranking 2024 The list of all the countries with a high GDP amount to use released that is $105 trillion.

World Economy Ranking 2024
World Economy Ranking 2024

World Economy Ranking 2024 Overview

Category Ranking
Year 2024
Released by IMF
Full Form International Monetary Fund
World Economy 105 trillion dollars


World Economy Rankings List 2024

According to this year’s world economy ranking there are some countries which are in the top list. This list contains the countries which share their data regularly. However these are almost estimations and we can see that many countries are the same from last year’s data. China takes second place in the world economy rankings and China grows at a faster rate than the United States. Many countries like the United Kingdom, Canada, India , Germany , and France are in the top position of the world economy ranking list.

Top World Economy Ranking 2024

  • United States of America- 26,954 Billion USD
  • China- 17, 786 billion USD
  • Germany- 4430 billion USD
  • Japan- 4231 billion USD
  • India- 3730 billion USD
  • United Kingdom- 3332 billion USD
  • France- 3052 billion USD
  • Italy- 2190 USD billion
  • Brazil- 2132 USD billion
  • Canada- 2122 billion USD

IMF World Economy Ranking 2024

Every year the World Economy Ranking 2024 is released by the IMF. The full form of the IMF’s international monetary fund in which China, United States and Japan are the three largest economies in the world. The GDP calculated in the financial year 2024 of India is expected to be increased by 6.1% which is less than the rest of the countries in the world. However India is not even near to its target of $5 trillion. Moreover it is also expected that in 2024 India will generate 15% of the global growth.

Top World Economy Ranking 2024

The top 10 largest economies of the world list is given in the above section. In which the United States contains the top position.

United States- The global position of the United States and the world economy is the wealthiest in the financial year 2024. However, the US grabbed this position for more than a century. The US holds this first place position from 1960 and economic strength is remarkable diversity and is driven by factors like manufacturing under the multinational industry.

China – China is the second largest economy in the world. China is also the fastest growing economy in the world which is increasing at more than the rate of the US.

Germany- Germany is the third largest economy in the world and the largest economy in Europe. Because of the largest auto exporter from decades Germany has been considered as one of the largest chemical and automotive exporter.

Japan- Japan holds the fourth position in the world economy ranking in 2024. The economic strength of this country is driven by technological investment and skilled workforce in research and development.

India – India holds the fifth largest economy in the world. The position of India holds 3.74 trillion GDP. There are sectors that contribute to India’s GDP which include the IT sector, Industry and services. However the largest contributor in India’s GDP is agriculture.

World Economy Ranking List 2024

The world economy ranking list released every year by the IMF and India’s position in this list is good this year as compared to the previous. The United Kingdom is in the sixth position in the world economy rankings and there are various sectors in the UK. France is another tourist location and is highly contributing to the GDP and it’s a place in the world economy rankings for 2024. These are all the information regarding World Economy Ranking 2024.

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