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Projected GDP Ranking 2018-2023 of India, China and United States

Projected GDP Ranking 2018-2023 of India, China and United States
Written by Abhishek Lohia

GDP was first used by US economist Simon during 1935-44. This word was introduced by Simon in America. That was the time when the world’s banking institutions were managing to estimate the economic growth, most of them could not find a word for it. When Simon showed this word by defining this GDP word in the US Congress, then the International Monetary Fund (IMF), the International Monetary Fund, started using the word. Gross Domestic Product (GDP) is the scale or means of measuring the economic health of any country.  GDP is calculated in India every quarter. The GDP figure is based on the growth rate of production in the major production areas of the economy. There are three major components of agriculture, industry, and services under GDP. In these areas, the GDP rate is fixed on the basis of average increase or decrease in production.

How is GDP Presented?

GDP is presented in two ways because of the prices of production continue to decline with inflation. This scale is the constant price, under which the rate of production and production of GDP is fixed at the cost of production in a base year whereas the second scale is the current price, which includes the inflation rate of the production year.

What is Constant Price in GDP?

The Statistical Department of India decides a base year for evaluation of production and services. During this year, prices are determined based on prices and comparative growth rates, and this is the cost price of GDP. This is done so that it can be measured accurately by keeping GDP rates apart from inflation.

Current Price in GDP

If the rate of inflation is added to the production value of GDP, then we get the current price of economic production. This means that you have to add the cost price to the GDP at an immediate inflation rate.

GDP (Nominal) Ranking 2018: Top 50 Countries

GDP (Nominal) Ranking 2018
Rank Country/Economy GDP (Nominal) (billions of $) Growth (%) GDP per capita (Nominal) ($) Continent
2018 % Share diff 2023 Rank 2018 Rank
1 United States 20,412.87 23.3 24,537 1 2.27 62,152 9 North America
2 China 14,092.51 16.1 6320 21,574 2 6.86 10,088 72 Asia
3 Japan 5,167.05 5.90 8925 5,962 3 1.71 40,849 25 Asia
4 Germany 4,211.64 4.81 955 5,272 4 2.51 50,842 17 Europe
5 United Kingdom 2,936.29 3.36 1275 3,477 7 1.79 44,177 23 Europe
6 France 2,925.10 3.34 11.2 3,586 6 1.85 44,934 21 Europe
7 India 2,848.23 3.25 76.9 4,663 5 6.74 2,135 142 Asia
8 Italy 2,181.97 2.49 666 2,554 9 1.47 35,914 27 Europe
9 Brazil 2,138.92 2.44 43.1 2,717 8 0.98 10,224 71 South America
10 Canada 1,798.51 2.06 340 2,434 10 3.00 48,466 20 North America
11 Russia 1,719.90 1.97 78.6 1,974 12 1.55 11,947 65 Europe
12 Korea 1,693.25 1.94 26.7 2,155 11 3.09 32,775 29 Asia
13 Spain 1,506.44 1.72 187 1,875 14 3.05 32,559 31 Europe
14 Australia 1,500.26 1.71 6.18 1,958 13 2.27 59,655 11 Oceania
15 Mexico 1,212.83 1.39 287 1,586 15 2.04 9,723 74 North America
16 Indonesia 1,074.97 1.23 138 1,549 16 5.07 4,052 116 Asia
17 Netherlands 945.33 1.08 130 1,168 18 3.11 55,185 13 Europe
18 Turkey 909.89 1.04 35.4 1,224 17 7.05 11,114 68 Asia
19 Saudi Arabia 748.00 0.855 162 866.0 21 -0.74 22,650 42 Asia
20 Switzerland 741.69 0.848 6.32 929.3 19 1.07 86,835 2 Europe
21 Argentina 625.92 0.715 116 831.7 22 2.86 14,044 60 South America
22 Poland 614.19 0.702 11.7 793.2 23 4.55 16,180 55 Europe
23 Taiwan Province of China 613.30 0.701 0.90 659.6 26 2.79 25,977 37 Asia
24 Sweden 600.77 0.687 12.5 745.0 24 2.40 58,345 12 Europe
25 Belgium 562.23 0.643 38.5 685.8 25 1.71 49,272 18 Europe
26 Thailand 483.74 0.553 78.5 649.9 27 3.90 6,992 85 Asia
27 Austria 477.67 0.546 6.07 595.4 28 2.90 53,764 14 Europe
28 Norway 443.25 0.507 34.4 520.6 31 1.81 82,711 5 Europe
29 Islamic Republic of Iran 418.88 0.479 24.4 472.3 36 4.28 5,086 102 Asia
30 United Arab Emirates 411.83 0.471 7.05 515.4 32 0.53 39,484 26 Asia
31 Nigeria 408.61 0.467 3.21 873.9 20 0.82 2,108 143 Africa
32 Ireland 385.14 0.440 23.5 505.6 33 7.81 80,641 6 Europe
33 Israel 373.75 0.427 11.4 482.1 35 3.32 42,115 24 Asia
34 South Africa 370.89 0.424 2.86 455.8 39 1.32 6,459 91 Africa
35 Denmark 369.76 0.423 1.13 465.4 38 2.11 63,830 8 Europe
36 Malaysia 364.92 0.417 4.84 568.0 29 5.90 11,237 67 Asia
37 Hong Kong SAR 364.78 0.417 0.14 489.8 34 3.82 48,829 19 Asia
38 Singapore 349.66 0.400 15.1 437.8 41 3.62 61,767 10 Asia
39 Philippines 332.45 0.380 17.2 523.0 30 6.67 3,095 131 Asia
40 Colombia 327.98 0.375 4.47 435.0 42 1.77 6,581 89 South America
41 Pakistan 324.73 0.289 3.25 471.4 37 5.28 1615 151 Asia
42 Finland 289.56 0.331 35.2 356.8 47 2.99 52,422 15 Europe
43 Bangladesh 285.82 0.327 3.74 444.2 40 7.14 1,734 150 Asia
44 Chile 280.27 0.320 5.55 359.8 45 1.47 15,087 58 South America
45 Egypt 253.25 0.289 27.0 367.6 44 4.23 2611 135 Africa
46 Czech Republic 251.58 0.288 1.67 358.2 46 4.29 23,750 40 Europe
47 Portugal 248.89 0.284 2.69 301.8 50 2.67 24,237 39 Europe
48 Romania 245.59 0.281 3.30 350.6 48 7.00 12,575 63 Europe
49 Vietnam 240.78 0.275 4.81 373.8 43 6.81 2,546 137 Asia
50 Peru 231.57 0.265 9.21 311.2 49 2.51 7,199 84 South America
World 87,505 114,353 11,727

GDP (PPP) Ranking in 2018: Top 50 Countries

GDP (PPP) Ranking 2018
Rank Country/Economy< GDP (PPP) (billions of Int. $) Growth (%) GDP per capita (PPP) (Int. $) Continent
2018 % Share diff 2023 Rank 2018 Rank
1 China 25,238.56 18.7 37,067 1 6.86 18,066 79 Asia
2 United States 20,412.87 15.1 4826 24,537 2 2.27 62,152 12 North America
3 India 10,385.43 7.69 10027 16,785 3 6.74 7,784 126 Asia
4 Japan 5,619.49 4.16 4766 6,358 4 1.71 44,426 31 Asia
5 Germany 4,373.95 3.24 1246 5,171 5 2.51 52,801 18 Europe
6 Russia 4,168.88 3.09 205 4,933 7 1.55 28,958 54 Europe
7 Indonesia 3,492.21 2.59 677 5,033 6 5.07 13,162 99 Asia
8 Brazil 3,388.96 2.51 103 4,168 8 0.98 16,199 84 South America
9 United Kingdom 3,028.57 2.24 360 3,598 9 1.79 45,566 28 Europe
10 France 2,960.25 2.19 68.3 3,544 10 1.85 45,474 29 Europe
11 Mexico 2,571.68 1.91 389 3,267 11 2.04 20,617 68 North America
12 Italy 2,399.83 1.78 172 2,755 13 1.47 39,500 35 Europe
13 Turkey 2,320.64 1.72 79.2 3,053 12 7.05 28,347 55 Asia
14 Korea 2,138.24 1.58 182 2,693 14 3.09 41,388 32 Asia
15 Spain 1,864.11 1.38 274 2,240 17 3.05 40,290 33 Europe
16 Canada 1,847.08 1.37 17.0 2,216 18 3.00 49,775 24 North America
17 Saudi Arabia 1,844.75 1.37 2.33 2,250 16 -0.74 55,859 15 Asia
18 Islamic Republic of Iran 1,749.43 1.30 95.3 2,356 15 4.28 21,241 67 Asia
19 Australia 1,312.53 0.972 437 1,653 21 2.27 52,191 20 Oceania
20 Thailand 1,310.57 0.971 1.96 1,721 20 3.90 18,944 75 Asia
21 Egypt 1,292.75 0.902 17.8 1 19 4.23 2,611 135 Africa
22 Taiwan Province of China 1,234.86 0.915 57.9 1,498 24 2.79 52,305 19 Asia
23 Poland 1,193.11 0.884 41.8 1,517 23 4.55 31,430 48 Europe
24 Nigeria 1,168.40 0.866 24.7 1,417 26 0.82 6,027 134 Africa
25 Pakistan 1,141.21 0.796 27.2 1 22 5.28 1,615 151 Asia
26 Malaysia 1,002.06 0.742 139 1,397 27 5.90 30,858 50 Asia
27 Netherlands 966.74 0.716 35.3 1,176 29 3.11 56,436 14 Europe
28 Argentina 959.53 0.711 7.21 1,235 28 2.86 21,529 66 South America
29 Philippines 955.22 0.708 4.31 1,466 25 6.67 8,893 120 Asia
30 South Africa 794.71 0.589 161 954.1 33 1.32 13,840 93 Africa
31 Bangladesh 751.95 0.557 42.8 1,159 30 7.14 4,561 144 Asia
32 Colombia 750.28 0.556 1.67 980.4 32 1.77 15,055 89 South America
33 United Arab Emirates 716.17 0.531 34.1 916.0 34 0.53 68,662 8 Asia
34 Vietnam 705.77 0.523 10.4 1,062 31 6.81 7,463 127 Asia
35 Iraq 694.65 0.515 11.1 883.9 35 -0.80 17,429 82 Asia
36 Algeria 666.96 0.494 27.7 783.8 36 1.99 15,758 86 Africa
37 Singapore 554.86 0.411 112 694.4 37 3.62 98,014 4 Asia
38 Belgium 550.66 0.408 4.19 652.6 40 1.71 48,258 25 Europe
39 Sweden 546.53 0.405 4.13 663.5 39 2.40 53,078 17 Europe
40 Switzerland 541.35 0.401 5.18 649.2 41 1.07 63,380 11 Europe
41 Romania 517.51 0.383 23.8 664.9 38 7.00 26,499 60 Europe
42 Kazakhstan 503.89 0.373 13.6 645.6 42 3.99 27,293 58 Asia
43 Hong Kong SAR 482.10 0.357 21.8 616.3 43 3.82 64,533 10 Asia
44 Chile 476.82 0.353 5.29 610.5 44 1.47 25,668 62 South America
45 Austria 461.43 0.342 15.4 548.5 47 2.90 51,936 21 Europe
46 Peru 450.15 0.333 11.3 599.2 45 2.51 13,994 92 South America
47 Czech Republic 397.73 0.295 52.4 497.0 49 4.29 37,546 39 Europe
48 Norway 396.92 0.294 0.81 479.6 51 1.81 74,065 7 Europe
49 Ukraine 389.20 0.288 7.72 512.5 48 2.53 9,215 118 Europe
50 Ireland 381.72 0.283 7.48 491.9 50 7.81 79,925 5 Europe
World 134,981 178,018 18,089

About the author

Abhishek Lohia

Abhishek Lohia is a Sports and Political Writer at Newsfolo. He has been working as a Journalist for 2 years and has previously worked at Sportsflu, Sportscafe, and some other Digital Channels. He covers the ruling BJP Government, civic bodies, and Indian politics. He also covers latest Sports News and Live Coverage. He is a graduate in Electrical Engineering from IPEC College, Sahibabad. He can be reached at; [email protected], you can also follow him on twitter @chiraglohia2

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