Here is the new update for the list of the the richest countries in the world by 2017 GDP.
GDP, or gross domestic product, is one of the parameters that gives insight into a country’s economy, i.e. how successful a certain economy of a country is compared to others. It is a monetary figure showing (within the borders) a country’s products and services in a specific time span. It is usually counted on an annual basis, divided by quarters. GDP per capita, on other hand is a figure that shows the GDP divided by the number of people. If you are interested on the topic of GDP by country, per capita we might recommend you to take a look at our list of the 20 Richest Countries in the World by GDP per Capita.
By comparing and analyzing GDP, economy specialists can project the future of global economic status on the basis of current and past trends. So, based on those, China will remain as one of the largest economies in the world by 2050, while the U.S. economy could fall down to 3rd place for example. So, that means at least the top 5 world economies will remain more or less at the top, and there will be some fluctuations in between them. The forecast is pretty much the same for some much closer future, say, the top 10 economies in the world by 2020 will remain USA, China, Brazil, Germany and others that you will find later down on our list of the richest countries in the world by GDP.
Although GDP represents economic wealth of a country, there are always those individuals around the world that stand out, basically the billionaires. The era of billionaires started with John D. Rockefeller around a century ago, and today there around 2,043 of them. In 2017 China seems to have the most billionaires in the world – totaling 609, compared to USA where there are 552. But on that topic you might get better information from our lists of Top 10 Countries With the Most Billionaires Per Capita or Richest Cities in the World With Most Billionaires Per Capita.
For our research in order to find out which were those richest countries by 2017 GDP we have consulted the International Monetary Fund. There we have made inquiry which has led us to making and exporting the wanted database from the main database – the World Economic Outlook. The main criteria of our inquiry consisted of GDP, current prices, currency – US dollar, and the scale in billions. The data we gathered was from the updated form for April 2017. So, in short, the figures you will see further down on the list represent the state of current GDP growth by country expressed in billions of U.S. dollars. For additional data and individual GDP for countries on our list we have gathered the information provided by The World Bank.
Being familiar with GDP by country for 2016, let’s see now what the GDP ranking for 2017 is, and get the insight at the richest countries in the world by 2017 GDP: