(Web Desk) – The United States, China, Japan, and Germany account for more than half of the world’s economic production in terms of gross domestic product, with the US GDP alone exceeding the combined GDP of 170 countries (GDP). Pakistan is also one of the world’s top 50 donors to the economy.
We’ll look at GDP by country in 2021 in this picture, based on IMF data and predictions, to see how different economies around the world compare.
Finance and real estate ($4.7 trillion) contribute the most to the US economy, followed by professional and business services ($2.7 trillion) and government ($2.6 trillion). Finance and real estate account for about 25% of the global economy ($22.9 trillion), a figure that has changed dramatically over the previous 60 years.
China has the world’s second-largest economy in nominal terms, with a GDP of almost $17 trillion. In terms of output, it is still the world’s largest company, with significant production of steel, electronics, and robotics, among other things.
Germany is Europe’s largest economy, exporting around 20% of all automobiles in the world. In 2019, total overall trade amounted to 90 percent of the country’s GDP.
The world’s smallest economy by GDP, on the other hand, include underdeveloped and island countries.
Tuvalu’s economy is the world’s tiniest, with a GDP of $70 million. The main source of revenue for this volcanic archipelago, which lies halfway between Hawaii and Australia, is territorial fishing rights.
In addition, the country earns a lot of money from the “.tv” web domain. Between 2011 and 2019, it received $5 million per year in licencing fees from companies, including Amazon-owned Twitch, for the Twitch.tv domain name, which amounted to approximately 7% of the country’s total revenue.