List of Countries by GDP (Nominal)

GDP is the total market value of all final goods and services produced in a country in a given year. Each country reports its data in its own currency. To compare the data, each country's statistics must be converted into a common currency. Two methods are used for conversion, nominal and purchasing power parity (PPP). In the Nominal method, market exchange rates are used for conversion.

United States remains the largest economy globally with GDP (Nominal) over $20 trillion in 2020. It represents a quarter share of the global economy (24.8%). China follows, with close to $15 trillion, or 17.4% of the world economy. Tuvalu has the world's smallest national economy with a GDP (nominal) of approximately $48 million. In World Factbook estimates, Niue, a small island nation in the South Pacific Ocean, is the smallest economy with a GDP of $10 mn in the year 2003.

16 countries in 2020 have an economy above $1 trillion. Sixty-one have above $100 billion, and 144 have above $10 billion. The top five economies constitute about 56% of the global gdp; the top ten make up 68%, top 20 economies add up to 81%. Ninety-three smallest economies only contribute 1 %, and 158 lowest ranked constitute only 10 % of the total.

Top Gainers in 2020: At current prices, With $382 bn, China is the highest gainer, followed by Egypt ($60 bn), Taiwan Province of China ($56 bn), Islamic Republic of Iran ($54 bn) and Bangladesh ($27 bn). Among the top ten largest economies, only China's gdp has increased. Switzerland and Netherlands are the remaining gainers among the top 20 largest economies.

Top Losers in 2020: Out of 194 economies estimated by IMF, the GDP of 142 economies decreased in 2020 compared to 2019. These 142 economies account for almost 74% of the world economy. The United States has the highest decline of $500 bn, followed by Brazil ($-443 bn), Russia ($-215.7 bn), Mexico ($-192.7 bn), India ($-161.7 bn).

Changes in rank: Egypt (+9) and Guinea (+9) are the highest gainer in World GDP (nominal) ranking, followed by Senegal (+8), Tanzania (+7), and Myanmar (+6). Lebanon (-28), Macao SAR (-20), Libya (-14), and Venezuela (-11) are the biggest losers in the ranking.