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according to International Monetary Fund estimates [n 1] [1] Countries by nominal GDP in 2019 [n 2] > $20 trillion. $10–20 trillion. $5–10 trillion. $1–5 trillion. $750 billion – $1 trillion. $500–750 billion. $250–500 billion.
GDP by Country. GDP, or Gross Domestic Product, is the total monetary value of all goods and services produced and sold within a country during a specific time period, typically one year. ( learn more ). World's GDP is $100,562,000,000,000 ( nominal, 2022)
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What does GDP stand for?
GDP measures the monetary value of final goods and services—that is, those that are bought by the final user—produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
Gross domestic product (GDP) is a measurement that describes the value of a geographic location’s total goods and services, and how it relates to the population of the region. GDP per capita is an evolution of this metric, and is obtained by dividing a country's GDP by its population.
May 29, 2023 · Much of the economic data we use to understand the world – for instance on the goods and services bought or produced by households, firms and governments, or the incomes they receive – is initially recorded in terms of the units in which these transactions took place.
Countries or territories by GDP (nominal) per capita in 2023. The figures presented here do not take into account differences in the cost of living in different countries, and the results vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.
First, the GDP of a country is measured in its own currency—the United States uses the US dollar; most countries of Western Europe use the euro; Japan uses the yen; and Mexico uses the peso. Because of this, comparing GDP between two countries requires converting to a common currency.
