Top 10 Powerful Countries in the World: Two important components of any successful country are the health and happiness of its citizens. A country may be rich and powerful, but if its citizens live short or miserable lives, does it succeed? Money is of importance only as long as it encourages greater welfare. A country that is powerful enough to influence the whole world with its influence or actions. These strategies are generally in the areas of economic competitiveness, public diplomacy, cultural relations, national identity and prestige, tourism, travel, export promotion, foreign direct investment, educational policy, international programmes, security and talent attraction.
Top 10 Powerful Countries in the World: किसी भी सफल देश के दो महत्वपूर्ण घटक उसके नागरिकों का स्वास्थ्य और खुशी हैं। एक देश अमीर और शक्तिशाली हो सकता है, लेकिन अगर उसके नागरिक कम या दयनीय जीवन जीते हैं, तो क्या वह सफल होता है? धन का महत्व तभी तक है जब तक यह अधिक से अधिक कल्याण को प्रोत्साहित करता है। एक देश जो अपने प्रभाव या कार्यों से पूरी दुनिया को प्रभावित करने के लिए पर्याप्त शक्तिशाली है। ये रणनीतियाँ आम तौर पर आर्थिक प्रतिस्पर्धा, सार्वजनिक कूटनीति, सांस्कृतिक संबंध, राष्ट्रीय पहचान और प्रतिष्ठा, पर्यटन, यात्रा, निर्यात प्रोत्साहन, प्रत्यक्ष विदेशी निवेश, शैक्षिक नीति, अंतर्राष्ट्रीय कार्यक्रम, सुरक्षा और प्रतिभा आकर्षण के क्षेत्रों में हैं।
What is GDP and What it’s the role in a country?
The Gross domestic product (GDP) is an estimate of the total value of finished goods and services produced within a country’s borders during a specified period, usually a year. The GDP is popularly used to estimate the size of a country’s economy.
GDP is typically measured using the spending method, which calculates GDP by adding up the value of new consumer goods, new investment spending, government spending, and net exports (exports minus imports).
Worldwide, countries’ GDPs fluctuate over time with the stages of different economic cycles against a backdrop of long-term economic growth; however, it is interesting to see that despite these ups and downs, the top economies, as measured by GDP, do not budge easily from their position.
China was ranked 13th in 2000 and has been in second place since 2010. Further down the list, Indonesia, one of two newcomers to the list, rose from the 27th largest economy in 2000 to currently sitting at 16, while Thailand has jumped from 32nd to now 24th. Saudi Arabia climbed from 20th to 18th place in 2021, while Switzerland dropped from 18th to 20th.
2021 is the most recent annual data available for these countries, showing that countries begin their recovery from the COVID-19 pandemic, which has had a major impact on economies around the world. Because Covid resulted in lower energy prices, reduced tourism, reduced trade volume, and quarantines led to store closures, countries experienced a record-breaking drop in GDP in 2020.
Top 10 Powerful Countries in the World
10- South Korea
- Nominal GDP in Current U.S. Dollars: $1.80 trillion
- PPP Adjusted GDP in Current International Dollars: $2.43 trillion
- GDP Growth: 4.0%
- Nominal GDP Per Capita in Current U.S. Dollars: $34,757
South Korea is among the top 10 economies in the world by GDP.
South Korea’s economy is a 20th-century success story that is firmly established today as an advanced, industrialized economy. Known for its strategy of export-led growth and the dominance of its chaebols (large trading conglomerates), South Korea has in recent decades building a network of free trade agreements covering 58 countries that account for the world’s GDP. accounted for more than three-quarters of the It is a leading producer and exporter of electronics, telecommunications equipment and motor vehicles.
However, with this progress, South Korea now faces some of the same challenges that many other advanced economies are dealing with, including slower growth and an ageing workforce.
- Nominal GDP in Current U.S. Dollars: $1.99 trillion
- PPP Adjusted GDP in Current International Dollars: $1.99 trillion
- GDP Growth: 4.6%
- Nominal GDP Per Capita in Current U.S. Dollars: $52,051
The ninth largest economy in the world is Canada. Canada has a well-developed energy extraction sector with the world’s third-largest proven oil reserves. It also has impressive manufacturing and services sectors, mostly within the U.S. Located in urban areas near the border.
Canada’s free trade relationship with the United States means that three-quarters of Canada’s exports go to the U.S. each year. Happens in the market. Canada’s close ties with the United States have meant that it has largely developed in parallel with the world’s largest economy.
- Nominal GDP in Current U.S. Dollars: $2.10 trillion
- PPP Adjusted GDP in Current International Dollars: $2.71 trillion
- GDP Growth: 6.6%
- Nominal GDP Per Capita in Current U.S. Dollars: $35,551
Italy has the eighth largest GDP in the world. And it is also the third largest economy in the Eurozone.
With a more developed, industrialized economy in the north and undeveloped southern regions, Italy’s economy and level of development vary particularly by region. Italy continues to suffer sluggish economic growth due to high public debt, an inefficient court system, a weak banking sector, an inefficient labour market with long-standing high youth unemployment, and a large underground economy.
- Nominal GDP in Current U.S. Dollars: $2.94 trillion
- PPP Adjusted GDP in Current International Dollars: $3.42 trillion
- GDP Growth: 7.0%
- Nominal GDP Per Capita in Current U.S. Dollars: $43,518
The seventh largest GDP in the world has France. And tourism is an important industry, and France receives the most visitors of any country each year.
France is a mixed economy with many private and semi-private businesses in a wide variety of industries. However, there is still heavy government involvement in some key sectors such as defence and electric power generation.
The French government’s commitment to economic intervention in favour of social equality also poses some challenges to the economy, such as a rigid labour market with high unemployment and a large public debt relative to other advanced economies.
- Nominal GDP in Current U.S. Dollars: $3.17 trillion
- PPP Adjusted GDP in Current International Dollars: $10.22 trillion
- GDP Growth: 8.9%
- Nominal GDP Per Capita in Current U.S. Dollars: $2,277
India is the sixth largest economy in the world. Due to its large population, India has the lowest GDP per capita on this list.
India’s economy is a mix of traditional rural farming and handicrafts along with modern industry and mechanized agriculture. India is a major exporter of technology services and business outsourcing, and the services sector makes up a substantial portion of its economic output.
Liberalization of India’s economy has spurred economic growth since the 1990s, but inflexible trade regulation, widespread corruption and persistent poverty have posed challenges to ongoing expansion.
5- United Kingdom
- Nominal GDP in Current U.S. Dollars: $3.19 trillion
- PPP Adjusted GDP in Current International Dollars: $3.34 trillion
- GDP Growth: 7.4%
- Nominal GDP Per Capita in Current U.S. Dollars: $47,334
The fifth largest economy in the world is The United Kingdom. The UK economy is driven by its large services sector, particularly in finance, insurance and business services. The country’s wide-ranging trading ties with continental Europe have been greatly complicated by the proposal for Brexit following the 2016 vote to leave the European Union (EU). As of January 31, 2020, the UK is not officially a member of the European Union, but controversial negotiations on trade relations between the two continue.
- Nominal GDP in Current U.S. Dollars: $4.22 trillion
- PPP Adjusted GDP in Current International Dollars: $4.82 trillion
- GDP Growth: 2.9%
- Nominal GDP Per Capita in Current U.S. Dollars: $50,801
Germany is the fourth among world economies. Germany is also the largest economy in Europe.
This country is a top exporter of vehicles, machinery, chemicals and other manufactured goods and has a highly skilled workforce. However, Germany is facing some demographic challenges to its economic development. Its low fertility rate makes it more difficult to replace its ageing workforce, and its high levels of net immigration affect its social welfare system.
- Nominal GDP in Current U.S. Dollars: $4.94 trillion
- PPP Adjusted GDP in Current International Dollars: $5.40 trillion
- GDP Growth: 1.6%
- Nominal GDP Per Capita in Current U.S. Dollars: $39,285
Japan is the third largest economy in the world. And its GDP crossed the $5 trillion mark in 2018. Strong cooperation and advanced technical know-how between government and industry have formed Japan’s manufacturing and export-oriented economy. Many major Japanese businesses are organized as a network of interconnected companies known as keiretsu.
After the lost decade of the 1990s and the effects of the global Great Recession, Japan has seen a growth spurt in recent years under the policies of former Prime Minister Shinzo Abe; However, Japan is poor in natural resources and dependent on energy imports, especially after the general shutdown of its nuclear power industry following the 2011 Fukushima disaster. Japan is also struggling with a rapidly ageing population
- Nominal GDP in Current U.S. Dollars: $17.73 trillion
- PPP Adjusted GDP in Current International Dollars: $27.31 trillion
- GDP Growth: 8.1%
- Nominal GDP Per Capita in Current U.S. Dollars: $12,556
China currently has the second largest nominal GDP in the world in dollars and the largest in terms of PPP. With annual growth that consistently surpasses that of the United States, China could be well on its way to becoming the world’s largest economy by nominal GDP in the coming years.
As China has progressively opened up its economy over the past four decades, economic growth and living standards have improved significantly. As the government gradually phased out collectivist agriculture and industry, allowed greater flexibility for market prices, and increased the autonomy of businesses, foreign and domestic trade and investment took off.
An industrial policy that encourages domestic manufacturing, it has made China the world’s number one exporter. Despite these advantages, China faces some significant challenges, such as a rapidly growing population and severe environmental degradation.
1- United States
- Nominal GDP in Current U.S. Dollars: $23.00 trillion
- PPP Adjusted GDP in Current International Dollars: $23.00 trillion
- GDP Growth: 5.7%
- Nominal GDP Per Capita in Current U.S. Dollars: $69,287
The economy of the United States is the largest in the world as measured by nominal GDP. The largest contributor to that GDP is the economy’s services sector, which includes finance, real estate, insurance, professional and business services, and healthcare.
The United States has a relatively open economy, which facilitates flexible business investment and foreign direct investment in the country. It is the world’s major geopolitical power and has been able to maintain a large external national debt as the creator of the world’s primary reserve currency.
The US economy is at the forefront of technology in many industries, but it faces growing threats in the form of economic inequality, rising health care and Social Security net costs, and deteriorating infrastructure.
FAQs on Top 10 Powerful Countries in the World
Is India a strong country?
India’s military holds the largest active duty force in the world as of 2020, while the Indian paramilitary force, at over one million strong, is the second largest paramilitary force in the world. Combined, India’s total armed forces are 2,414,700 strong, making it the third largest defence force in the world.
Is America the most powerful country ever?
According to the 2020 survey (released in 2021), the United States is the most powerful country in the world. The United States has the largest economy in the world with a GDP of $20.93 trillion in 2020 and the largest military budget of $778 billion in 2020.
Who is stronger China or America?
The United States overtakes China in terms of gross domestic product (GDP), technology and military spending. China’s GDP accounts for 15 per cent of global GDP compared to 24 per cent of the United States.
Who is stronger Russia or America?
The US dominates the air with far more bases, fighter jets and bombers than Russia but Russia is superior on the ground with more tanks, artillery and land vehicles. At sea, countries are more evenly matched, but here the US has the edge with more destroyers, submarines and aircraft carriers.