Top 20 Countries with highest GDP (1950-2021)

GDP (PPP) means gross domestic product based on purchasing power parity. This article includes a list of countries by their forecast estimated GDP (PPP). Countries are sorted by GDP (PPP) forecast estimates from financial and statistical institutions that calculate using market or government official exchange rates. The data given on this page are based on the international dollar, a standardized unit used by economists. Certain regions that are not widely considered countries such as the European Union and Hong Kong also show up in the list if they are distinct jurisdiction areas or economic entities.

GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing a nation's domestic market because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita income. It is however limited when measuring financial flows between countries and when comparing the quality of same goods among countries. PPP is often used to gauge global poverty thresholds and is used by the United Nations in constructing the human development index. These surveys such as the International Comparison Program include both tradable and non-tradable goods in an attempt to estimate a representative basket of all goods.

The data is in billions of US dollars and was calculated and published by the IMF. The data for GDP at purchasing power parity has also been rebased using the new International Comparison Program price surveys and extrapolated to 2007. Non-sovereign entities (the world, continents, and some dependent territories) and states with limited recognition (such as Kosovo, Palestine and Taiwan) are included in the list in cases in which they appear in the sources. These economies are not ranked in the charts here, but are listed in sequence by GDP for comparison.

The European Union – and its European Single Market, which seeks to guarantee the free movement of goods, capital, services, and labour (the "four freedoms") within its 27 member states, also involved in international trade negotiations – might also appear in some lists. Depending on the methodology, the European Union could be inserted above or below the United States. For instance, the World Bank estimates the European Union's GDP (PPP) as $20.78 trillion in 2019.

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Source:
www.en.wikipedia.org
www.data.worldbank.org
www.imf.org
www.ourworldindata.org
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