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The United States is the largest economy in North America, comprising about 80% of the continent's gross domestic product (PPP). United States (80.1%) Mexico (9.2%)
The nation's labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world. [87] The U.S. is one of the top-performing economies in studies such as the Ease of Doing Business Index, the Global Competitiveness Report, and others. [88]
The economy of the Americas comprises more than 1 billion people in 35 different countries and 18 territories. Sometimes divided into the continents of North America and South America depending on the source, like other continents, the wealth between the states in the Americas varies considerably, with significant wealth inequality within nations.
These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country. [4]
The economies of Canada and the United States are similar because both are developed countries.While both countries feature in the top ten economies in the world in 2022, the U.S. is the largest economy in the world, with US$24.8 trillion, with Canada ranking ninth at US$2.2 trillion.
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 gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
The economy of North America comprises more than 596 million people (8% of the world population) in its 24 sovereign states and 15 dependent territories. [1] [2] It is marked by a sharp division between the predominantly English speaking countries of Canada and the United States, which are among the wealthiest and most developed nations in the world, and countries of Central America and the ...