Gross Domestic Product (GDP) is the total monetary value of all goods and services produced and sold within a country during a specific time period, typically one year. It is a measure of a country’s economic output and is used to compare the economic performance of countries. According to the World Bank, the world’s GDP in 2022 was $100,562,000,000,000 .
The United States has the highest nominal GDP in the world, with a value of $25,462,700,000,000 in 2022 . China follows closely behind with a nominal GDP of $17,963,200,000,000 in 2022 . Japan, Germany, and India round out the top five countries with the highest nominal GDPs .
It is important to note that nominal GDP does not account for differences in the cost of living between countries. Therefore, it is often more useful to compare countries’ GDPs using purchasing power parity (PPP), which adjusts for differences in the cost of living. According to the International Monetary Fund, China has the highest GDP (PPP) in the world, with a value of $26,468,000,000,000 in 2022 . The United States follows closely behind with a GDP (PPP) of $23,857,000,000,000 in 2022 .
Here is a table that compares the nominal GDPs of the top 10 countries in the world in 2022:
| Rank | Country | Nominal GDP (2022) |
|———-|————-|———————–|
| 1 | United States | $25,462,700,000,000 |
| 2 | China | $17,963,200,000,000 |
| 3 | Japan | $4,231,140,000,000 |
| 4 | Germany | $4,072,190,000,000 |
| 5 | India | $3,385,090,000,000 |
| 6 | United Kingdom | $3,070,670,000,000 |
| 7 | France | $2,782,910,000,000 |
| 8 | Russia | $2,240,420,000,000 |
| 9 | Canada | $2,139,840,000,000 |
| 10 | Italy | $2,010,430,000,000 |