The top 10 richest countries in the world updated to 2020 according to data from the IMF recording the return of Korea and some other permutations.
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- 1. US GDP: $20.81 trillion
- 2. China GDP: 14.86 trillion USD
- 3. Japan GDP: $4.91 trillion
- 4. German GDP 3.78 trillion USD
- 5. UK GDP: $2.64 trillion
- 6. GDP of India: 2.59 trillion USD
- 7. French GDP: 2.55 trillion USD
- 8. Italian GDP: 1.85 trillion USD
- 9. Canadian GDP: $1.60 trillion
- 10. South Korea’s GDP: $1.59 trillion
Understanding the economic landscape of different countries will help you prepare for global expansion. Many businesses go global to access larger talent pools, access new markets, and diversify their teams for better business continuity.
In 2020, the four richest countries in the world are unchanged compared to 2019. The remaining positions are swapped: the UK climbs from 6th to 5th, swapping with India; Canada from 10th to 9th; Brazil from 9th to 12th; Korea from 12th to 10th.
1. US GDP: $20.81 trillion
- GDP – Nominal: $20.81 trillion
- GDP – Per capita: 63,051 USD
- GDP – Purchasing Power Parity (PPP): $20.81 trillion
The United States has long been the richest country in the world and by 2020 shows no sign of changing. Last year, the country’s nominal GDP was estimated at $20,810 billion.
Several factors contributed to the success of the United States. A business environment that encourages hard work and long hours is certainly helpful. But decentralized government, advanced research universities and a favorable regulatory environment also contribute.