Top 10 World’s Largest Economies

The United States remains to be the undisputed leader in the world economy but the threat from China to grab that lead is looming. If China continues its double-digit growth per year, the Chinese — not anymore the Americans — will soon rule the world.

In 2010, the US recorded a Gross Domestic Product (GDP) of around $14.6 trillion. GDP refers to the market value of all goods and services produced within a country in a given period.

Also last year, China overtook Japan as the No. 2 largest economy, with China’s GDP valued at $5.75 trillion against Japan’s $5.4 trillion. Japan predicts that if China continues to grow at least 10% every year, it is poised to grab from the US the title of world’s biggest economy in less than 20 years.

The top 10 biggest economies in 2010, measured in terms of nominal GDP, is shown below.

The Philippines, with nominal GDP amounting to $189 billion, is ranked 46th out of 180 countries.

Top 10 Largest Economies, based on 2010 Nominal GDP
Estimates by the IMF and CIA World Factbook (in trillions of USD)

Rank	Country	IMF Estimate	CIA Estimate
1	United States	$14.624	$14.62
2	People's Republic of China	$5.745	$5.745
3	Japan	$5.390	$5.391
4	Germany	$3.305	$3.306
5	France	$2.555	$2.555
6	United Kingdom	$2.259	$2.259
7	Italy	$2.037	$2.037
8	Brazil	$2.024	$2.024
9	Canada	$1.564	$1.564
10	Russia	$1.477	$1.477

* amounts are in USD trillions.

Source: International Monetary Fund (IMF), CIA World Factbook

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