10 Largest Economies in the World in 2023

2. China

GDP: $18.1 trillion

China’s astonishing economic rise in the last three decades has earned it the status of being the second largest economy in the world. IMF sized the Chinese economy at $18.1 trillion in 2022 in terms of nominal GDP. The OECD has lifted projection of China’s economic growth from 4.6% to 5.3% for 2023. The Chinese Yuan is the fifth most powerful currency in the world, holding a 3% share as the global reserve currency. At least eight countries have begun or are considering trading with China in yuan in place of the U.S. Dollar.