World’s Largest 15 Economies in 2023 As China Projected To Overtake US In 2075: Check Nigeria’s Position (Video)

World’s Largest 15 Economies based in GDP Projection by IMF & Goldman Sachs is out. A country’s dominance in world politics is tied to the size of its economy.

No wonder countries such as the United States and China continue to battle each other for supremacy.

The GDP in in 2023, plus protections for 2028 and 2075 have been provided for each country as well. Based on the projections, China is projected to overtake the US by 2075 and become the world’s most powerful based on its GDP. This will move India’s economy to the second and that of the US to the third position.

The projections are that the GDP of China, India, and the US will be $57 trillion, $52.5 trillion, and $51.5 trillion respectively.

The world’s largest economies are those that produce the highest levels of economic output, as measured by gross domestic product (GDP). GDP is the total value of all goods and services produced within a country’s borders in a given period of time, typically one year.

The top 15 largest economies in the world in 2023 are:

🇺🇲 US GDP:

The first spot in the list of the World’s Largest 15 Economies in 2023 is the United States of America.

2023: $26.855 trillion
2028: $32.3 trillion
2075: $51.5 trillion

🇨🇳 China GDP:

2023: $19.374 trillion
2028: $27.4 trillion
2075: $57 trillion

🇮🇳 India GDP:

2023: $3.737 trillion
2028: $5.5 trillion
2075: $52.5 trillion

🇯🇵 Japan GDP:

2023: $4.410 trillion
2028: $5.3 trillion
2075: $7.5 trillion

🇩🇪 Germany GDP:

2023: $4.309 trillion
2028: $5 trillion
2075: $8.1 trillion

🇬🇧 UK GDP:

2023: $3.159 trillion
2028: $4.2 trillion
2075: $7.6 trillion

🇫🇷 France GDP:

2023: $2.923 trillion
2028: $3.3 trillion
2075: $6.5 trillion

🇧🇷 Brazil GDP:

2023: $2.08 trillion
2028: $2.7 trillion
2075: $8.7 trillion

🇨🇦 Canada GDP:

2023: $2.08 trillion
2028: $2.6 trillion
2075: $5.2 trillion

🇮🇩 Indonesia GDP:

2023: $2 trillion
2028: $2 trillion
2075: $13.7 trillion

🇳🇬 Nigeria GDP:

2023: $0.5 trillion
2028: $0.9 trillion
2075: $13.1 trillion

🇷🇺 Russia GDP:

2023: $2.063 trillion
2028: $2.2 trillion
2075: $6.9 trillion

🇦🇺 Australia GDP

2023: $1.7 trillion
2028: $2 trillion
2075: $4.3 trillion

🇲🇽 Mexico GDP:

2023: $1.6 trillion
2028: $2 trillion
2075: $7.6 trillion

🇹🇷 Turkey GDP:

2023: $1.02 trillion
2028: $1.3 trillion
2075: $5.2 trillion

The World’s Largest 15 Economies in 2023 account for over 60% of the global economy. The United States is the world’s largest economy, with a GDP of over $26  trillion. China is the world’s second-largest economy, with a GDP of over $19 trillion. India, Japan, and Germany, and are also major economic powers.

The size of a country’s economy is important for a number of reasons. It is a measure of the country’s wealth and prosperity. It also affects the country’s standard of living, as well as its ability to influence global affairs.

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The factors that contribute to a country’s economic growth include:

• Natural resources: Countries with abundant natural resources, such as oil, gas, and minerals, tend to have larger economies.
• Labor force: Countries with a large and educated labor force tend to have larger economies.
• Infrastructure: Countries with good infrastructure, such as roads, railways, and ports, tend to have larger economies.
• Technology: Countries that invest in technology and innovation tend to have larger economies.
• Trade: Countries that are open to trade and investment tend to have larger economies.

The world’s largest economies are constantly evolving. The relative ranking of countries can change over time due to factors such as economic growth, demographic changes, and technological innovation.

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Benefits of having a large economy

There are a number of benefits to having a large economy. These benefits include:

• Higher standard of living: Countries with larger economies tend to have higher standards of living. This is because they can afford to invest in public services such as education, healthcare, and infrastructure.
• More job opportunities: Countries with larger economies tend to have more job opportunities. This is because they have more businesses and industries.
• Greater influence on global affairs: Countries with larger economies have greater influence on global affairs. This is because they have more economic power.

Challenges of having a large economy

There are also some challenges associated with having a large economy. These challenges include:

• Environmental impact: Large economies tend to have a greater environmental impact. This is because they produce more goods and services, which consume more resources and generate more waste.
• Income inequality: Large economies can sometimes experience high levels of income inequality. This is because the benefits of economic growth are not always shared evenly.
• Financial instability: Large economies can be more susceptible to financial instability. This is because they have more complex financial systems.

Overall, the world’s largest economies play an important role in the global economy. They produce a significant amount of goods and services, and they have a major impact on global trade and investment.