TOP 100 Largest Economies by Nominal GDP (2025)

by admin January 11, 2026 5755 41 min read

Macroeconomics • 2025 snapshot

What this ranking measures (and why it matters)

Nominal GDP is the market value of all final goods and services produced within an economy over a year, expressed at current prices and converted into U.S. dollars using market/official exchange rates. It is the standard “headline” measure for comparing economic size because international trade, corporate revenues, and many financial contracts are priced in market currencies.

This ranking lists the top 100 economies by their 2025 nominal GDP (current US$). Nominal rankings are informative, but they are also sensitive to inflation and exchange-rate moves. That’s why economies can shift in USD size even when real (inflation-adjusted) growth looks steady.

Metric: GDP (current US$) Year: 2025 Unit: current US$ Scope: top 100

Key takeaways

Global output is concentrated: the top 10 economies account for roughly two thirds of world nominal GDP, and the top 20 for about four fifths.
The “$1T club” is limited: only a few dozen economies reach trillion-dollar scale; after that, values quickly fall into hundreds of billions.
The bottom of the top 100 is still meaningful: the #100 economy is around $47B — large enough for substantial domestic markets, but more sensitive to currency and commodity cycles.
Nominal GDP is a currency lens: great for “global weight” questions (trade/finance), less direct for living standards (use PPP/per-capita for that).

World nominal GDP (2025, current US$)

$117.165T

US–China gap (2025, current US$)

$11.217T

Share of world GDP: Top 50 economies

93.7%

How to interpret nominal GDP correctly

A practical rule is to match the metric to the question. If you want to understand a country’s role in dollar-based trade, corporate scale, and external finance, nominal GDP is the right baseline. If you want to understand household purchasing power, compare GDP per capita (PPP) or income measures, because they adjust for population and local price levels.

For year-to-year changes, remember there are three drivers behind a move in USD GDP: (1) real output, (2) domestic inflation, and (3) exchange rates. In FX-volatile periods, the third factor can dominate the ranking.

Top 100 table

Values are formatted as trillions (T) or billions (B) for readability. The underlying dataset reports GDP in million US$. This table uses three columns to stay inside the container and converts to stacked “row cards” on mobile (no horizontal scroll).

Rank	Economy	Nominal GDP (2025, current US$)
1	United States	$30.616T
2	China	$19.399T
3	Germany	$5.014T
4	Japan	$4.280T
5	India	$4.125T
6	United Kingdom	$3.959T
7	France	$3.362T
8	Italy	$2.544T
9	Russia	$2.541T
10	Canada	$2.284T
11	Brazil	$2.257T
12	Spain	$1.891T
13	Mexico	$1.863T
14	South Korea	$1.859T
15	Australia	$1.830T
16	Turkey	$1.565T
17	Indonesia	$1.443T
18	Netherlands	$1.321T
19	Saudi Arabia	$1.269T
20	Poland	$1.040T
21	Switzerland	$1.003T
22	Taiwan	$884.387B
23	Belgium	$716.980B
24	Ireland	$708.771B
25	Argentina	$683.371B
26	Sweden	$662.318B
27	Israel	$610.752B
28	Singapore	$574.185B
29	United Arab Emirates	$569.097B
30	Austria	$566.456B
31	Thailand	$558.573B
32	Norway	$517.102B
33	Philippines	$494.158B
34	Vietnam	$484.726B
35	Bangladesh	$475.011B
36	Malaysia	$470.572B
37	Denmark	$459.612B
38	Colombia	$438.121B
39	Hong Kong	$428.233B
40	South Africa	$426.383B
41	Romania	$422.508B
42	Pakistan	$410.495B
43	Czech Republic	$383.384B
44	Iran	$356.513B
45	Egypt	$349.264B
46	Chile	$347.174B
47	Portugal	$337.936B
48	Peru	$318.480B
49	Finland	$314.724B
50	Kazakhstan	$300.052B
51	Algeria	$288.013B
52	Nigeria	$285.003B
53	Greece	$282.019B
54	Iraq	$265.455B
55	New Zealand	$262.909B
56	Hungary	$247.759B
57	Qatar	$222.119B
58	Ukraine	$209.713B
59	Morocco	$179.612B
60	Kuwait	$157.469B
61	Slovakia	$154.587B
62	Uzbekistan	$137.480B
63	Kenya	$136.014B
64	Ecuador	$130.529B
65	Dominican Republic	$129.748B
66	Bulgaria	$127.924B
67	Puerto Rico	$126.546B
68	Guatemala	$120.850B
69	Angola	$115.167B
70	Ghana	$111.963B
71	Ethiopia	$109.492B
72	Oman	$105.190B
73	Croatia	$103.901B
74	Costa Rica	$102.637B
75	Luxembourg	$100.642B
76	Serbia	$100.048B
77	Ivory Coast	$99.207B
78	Sri Lanka	$98.964B
79	Lithuania	$95.274B
80	Panama	$90.408B
81	Tanzania	$87.444B
82	Belarus	$85.739B
83	Uruguay	$84.986B
84	Venezuela	$82.767B
85	DR Congo	$82.262B
86	Slovenia	$79.221B
87	Azerbaijan	$76.390B
88	Turkmenistan	$72.119B
89	Uganda	$64.993B
90	Cameroon	$60.577B
91	Myanmar	$60.561B
92	Tunisia	$59.069B
93	Bolivia	$57.086B
94	Jordan	$56.157B
95	Zimbabwe	$53.310B
96	Macau	$52.379B
97	Cambodia	$48.802B
98	Libya	$47.941B
99	Latvia	$47.880B
100	Paraguay	$47.398B

Notes: Nominal GDP is shown at current prices and converted to USD using market/official exchange rates. Figures follow the IMF WEO 2025 estimates/projections and may be revised in later releases.

Visual: the scale of the top 15

This chart shows how fast GDP size drops after the first two economies. It’s a useful “scale check”: once you move beyond #2, the ranking quickly falls from ~20T into the ~5T range and then to ~4–2T.

Chart not loaded. Same information as a readable list (top 15):

United States — $30.616T
China — $19.399T
Germany — $5.014T
Japan — $4.280T
India — $4.125T
United Kingdom — $3.959T
France — $3.362T
Italy — $2.544T
Russia — $2.541T
Canada — $2.284T
Brazil — $2.257T
Spain — $1.891T
Mexico — $1.863T
South Korea — $1.859T
Australia — $1.830T

Chart note: values are in trillions of current US$ and match the 2025 numbers used in the table.

Insights: what stands out in 2025

1) The world economy is “top-heavy”

The world total looks enormous in dollar terms, but the distribution is even more striking. A relatively small group of economies drives most of the world’s nominal output. That concentration matters because global aggregates (trade volumes, capital flows, risk sentiment) are disproportionately shaped by what happens in the top tier.

For readers, this is a reminder that “global growth” is not evenly distributed. Even when dozens of economies are expanding, the final picture in current US$ can still be dominated by a few major currency blocs, inflation paths, and exchange-rate cycles.

2) Nominal GDP is a currency lens (and that’s the point)

Nominal GDP in USD combines real output, domestic prices, and exchange rates. This makes it especially useful for dollar-based comparisons: the ability to import and finance external liabilities, the scale of markets for global firms, and headline economic weight in international negotiations.

But it also explains why nominal rankings can move in ways that surprise casual readers. A currency depreciation can reduce USD GDP even if domestic production is stable. Conversely, a currency appreciation can boost USD GDP even if real growth is modest.

3) The US–China gap remains enormous in nominal terms

In 2025, the gap between #1 and #2 is still measured in double-digit trillions of dollars. That distance influences everything from the depth of capital markets to the scale of research spending and the ability to absorb global shocks. At the same time, after the top two, the ranking drops steeply into the $5T range and then into a broad $4–2T band.

4) Europe is “many large economies”, not one mega-economy

Europe appears as a dense cluster of large economies rather than a single outlier. The opportunity is a deep, diversified market; the operational reality is fragmentation across multiple tax, regulatory, and labor frameworks. For businesses, Europe’s scale is undeniable, but execution requires localization and compliance discipline.

5) The upper-middle tier matters for supply chains

Once you move below the trillion-dollar club, you enter a broad tier of $250B–$1T economies. Many of them are critical in specific global value chains: advanced manufacturing nodes, logistics hubs, commodity exporters, and fast-growing consumer markets. Their impact can be larger than their rank suggests because they sit at chokepoints of trade and production.

6) Near the bottom of the top 100, rankings are more volatile

Around ranks 70–100, a few billion dollars can move a country several positions. This “high sensitivity zone” is where FX swings, commodity cycles, and one-off revisions can visibly reshape the table from one release to the next.

What this means for readers

Treat nominal GDP as a market-size baseline — not as a direct measure of household prosperity. If your goal is business sizing (dollar revenue potential, international purchasing capacity, global corporate scale), nominal GDP is the right first step. If your goal is living standards, pair this with GDP per capita (PPP) and income distribution measures.

For trend interpretation, separate the three engines behind USD GDP: real growth, inflation, and exchange rates. A country can look “bigger” or “smaller” in dollars without a proportional change in real domestic activity — and that nuance is exactly why reading the methodology matters.

Methodology

Indicator: nominal GDP (GDP at current prices) converted to current US$.
Year: 2025 estimate/projection as reported in the source dataset.
Units: underlying values are commonly reported in million US$; this page formats display values as T (trillions) or B (billions).
Ranking: sorted in descending order by 2025 nominal GDP; only economies with a reported 2025 value are included in the top 100.
Limitations: currency sensitivity, possible revisions across releases, and the fact that GDP is not a welfare measure.

FAQ (Nominal GDP)

Why use nominal GDP instead of PPP GDP?+

Nominal GDP in current US$ reflects market size in the currency used for much of global trade and finance. PPP is better for comparing domestic purchasing power and living standards. Use nominal for “global weight” and PPP for “how much people can buy locally”.

Does a higher nominal GDP mean people are richer?+

Not necessarily. Total GDP measures the size of the economy, not what a typical person earns or can buy. For living standards, look at GDP per capita (especially PPP) and household income measures.

Why can rankings change quickly from one year to the next?+

Because USD GDP is affected by real growth, inflation, and exchange rates. A currency move against the U.S. dollar can shift the USD value of GDP even when domestic production is stable.

What does “current prices” mean?+

“Current prices” means the value is not adjusted for inflation. It reflects prices in the measured year. For inflation-adjusted comparisons over time, use real GDP.

Are these numbers final?+

They are estimates/projections in the release used for the ranking and can be revised later as official data and assumptions update. Revisions are normal for macro datasets.