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Historically, the United States was consistently year after year the world's largest economy since the early twentieth century. However, the report from 2014 showed that for the very first time China overtook the United States as the largest economy in the world taking into account purchasing power parity (PPP). Indeed, the margin of power ...
China represented 1.61% of the world's economy in 1987 (lowest point), rising to 18.4% (nominal) and 19% (PPP) in 2022. It accounted for 25.4% of global GDP in 1 CE, 29% of world global output in 1600 CE, 17.3% of the world's economy in 1870, and 33% in 1820 (its highest point).
The first set of data on the left columns of the table includes estimates for the year 2023 made for each economy of the 196 economies (189 U.N. member states and 7 areas of Aruba, Hong Kong, Kosovo, Macau, Palestine, Puerto Rico, and Taiwan) covered by the International Monetary Fund (IMF)'s International Financial Statistics (IFS) database ...
The global contribution to world's GDP by major economies from 1 AD to 2008 AD according to Angus Maddison's estimates [1]. This historical list of the ten largest countries by GDP compiled by British economist Angus Maddison shows how much the membership and rankings of the world's ten largest economies has changed.
The U.S. no longer boasts the world's largest economy. China, the world's most populous country, has overtaken America to claim the title of world's number one economic powerhouse, according to ...
But adjusting for purchasing power parity (PPP), China became the world's second largest economy as early as 1999 surpassing Japan, and has toppled America to become the biggest economy since 2014. [7] From 1979 until 2010, China's average annual GDP growth was 9.91%, reaching a historical high of 15.2% in 1984 and a record low of 3.8% in 1990 ...
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021. [8] [1] [11]
All data are in current United States dollars. Historical data see list of countries by past and projected GDP (nominal) per capita. The table initially ranks each country or territory by its IMF estimate, and can be reranked by any of the sources.