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Which Country have maximum GDP?

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posted Nov 30, 2014 by Amit Kumar Pandey

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2 Answers

+1 vote
 
Best answer

GDP is measured in Absolute term and PPP term. So let me describe what is nominal and PPP first.

What ever the value of products and services which a country/residents has produced over a period of one year is called GDP for that year in nominal term. But the value of same product and services can be different in different countries so value can be different and can give wrong comparison as for the same product and services one country can have lower GDP while other can have higher.

For example assume two people from different country both are producing only one burger over a year and in country the value of berger is 10$ and 1$ respectively and if we assume person as country then first one have GDP of $10 and other one will $1 whereas both has produced only one burger. So we have new tool called PPP where we normalize first and then compare.

Top 10 countries GDP in nominal term

1    United States  16,244,600
2    China           8,358,400
3    Japan           5,960,180
4    Germany         3,425,956
5    France          2,611,221
6    United Kingdom  2,471,600
7    Brazil          2,254,109
8    Russia          2,029,812
9    Italy           2,013,392
10   India           1,875,213

Top 10 countries GDP in PPP term

1    United States  16,768.1
2    China          16,149.1
3    India           6,776.0
4    Japan           4,667.6
5    Germany         3,512.8
6    Russia          3,491.6
7    Brazil          3,012.9
8    France          2,534.5
9    Indonesia       2,389.0
10   United Kingdom  2,320.4
answer Dec 1, 2014 by Salil Agrawal
0 votes

GDP, current prices
U.S. dollars (Billions)
United States 17,416

answer Dec 1, 2014 by Vrije Mani Upadhyay
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