In this article, we will share the ranking of 192 countries in the world based on their Gross Domestic Product (GDP) on a Purchasing Power Parity (GDP PPP) basis. We have used the publicly available data from International Monetary Fund (IMF) to rank the countries. We have also provided an analysis based on whether the countries are developed or developing. IMF classifies these countries as ‘advanced economies’ and ’emerging market and developing economies’ respectively (Please see the notes at the bottom). Of the 192 countries, 39 countries classified as advanced economies and the remaining are classified as emerging market and developing economies.
This is our third article in a series of articles ranking the countries in the world based on their GDP related indicators. In our first two articles, we presented the country rankings based on GDP and GDP per capita. In the future articles, we will present the country rankings based on GDP PPP per capita and real GDP growth.
World Total GDP PPP 1980-2024
The world total GDP PPP reached $135 trillion during 2018. The total GDP PPP of the developed countries (aka advanced economies) was $55 trillion during 2018. The total GDP PPP of the developing countries (aka emerging market and developing economies) was $80 trillion during 2018.
IMF estimates the world GDP PPP to reach $142 trillion during 2019 and $150 trillion during 2020. IMF estimates the developed countries total GDP PPP to reach $57 trillion during 2019 and $59 trillion during 2020. IMF estimates the developing countries total GDP PPP to reach $85 trillion during 2019 and $91 trillion during 2020.
The chart below provides the developed vs developing world GDP PPP data from 1980 to 2024. The data for 2019 to 2024 are estimates by the IMF staff.
The share of the developed countries in the world total GDP PPP was 63.2% during 1980. The share of the developing countries in the world total GDP PPP was 36.8% during 1980. During 2008, the share of developing countries GDP PPP exceeded that of the developed countries. IMF estimates that in 2024, the share of developed countries GDP PPP would be 36.5% and the share of developing countries GDP PPP would be 63.5%. So, in 44 years, the GDP PPP share of the two country groups would reverse.
The chart below provides the developed vs developing world GDP PPP share data from 1980 to 2024. The data for 2019 to 2024 are estimates by the IMF staff.
World GDP PPP Ranking
China leads the world GDP PPP rankings with 18.7% share of the world total GDP PPP during 2018. China is followed by the United States, India, Japan, and Germany with GDP PPP share of 15.2%, 7.8%, 4.1%, and 3.2% respectively of the world total GDP PPP during 2018. The top-5 countries by GDP PPP account for 49.0% of the world total GDP PPP. The top-10 and top-20 countries account for 61.7% and 76.1% of the world total GDP PPP respectively.
Here are the GDP PPP rankings of the world top-10 economies along with their GDP PPP.
- China is ranked 1 with a GDP PPP of $25.3 trillion.
- The United States is ranked 2 with a GDP PPP of $20.5 trillion.
- India is ranked 3 with a GDP PPP of $10.5 trillion.
- Japan is ranked 4 with a GDP PPP of $5.6 trillion.
- Germany is ranked 5 with a GDP PPP of $4.4 trillion.
- Russia is ranked 6 with a GDP PPP of $4.2 trillion.
- Indonesia is ranked 7 with a GDP PPP of $3.5 trillion.
- Brazil is ranked 8 with a GDP PPP of $3.4 trillion.
- The United Kingdom is ranked 9 with a GDP PPP of $3.0 trillion.
- France is ranked 10 with a GDP PPP of $3.0 trillion.
The charts below list all the 192 countries as per their GDP PPP rank.
World GDP PPP Ranking – Developed countries
The United States leads the developed world GDP PPP rankings with 37.2% share of the developed world total GDP PPP during 2018. The United States is followed by Japan, Germany, the United Kingdom, and France with GDP PPP share of 10.2%, 7.9%, 5.5%, and 5.4% respectively of the developed world total GDP PPP during 2018. The top-5 countries by GDP PPP account for 66.2% of the developed world total GDP PPP. The top-10 and top-20 countries account for 83.6% and 94.8% of the developed world total GDP PPP respectively. The chart below lists the developed countries as per their GDP PPP rank.
World GDP PPP Ranking – Developing countries
China leads the developing world GDP PPP rankings with 31.7% share of the developing world total GDP PPP during 2018. China is followed by India, Russia, Indonesia, and Brazil with GDP PPP share of 13.2%, 5.3%, 4.4%, and 4.2% respectively of the developing world total GDP PPP during 2018. The top-5 countries by GDP PPP account for 58.8% of the developing world total GDP PPP. The top-10 and top-20 countries account for 70.9% and 83.4% of the developing world total GDP PPP respectively. The chart below lists the top-40 developing countries as per their GDP PPP rank.
World GDP PPP Ranking Data Table
The data table below lists the 192 countries in the world along with their GDP PPP rank, GDP PPP, and GDP PPP share of the world total GDP PPP.
|Rank||Country Name||GDP PPP ($ billions)||GDP PPP Share|
|18||Islamic Republic of Iran||1,611||1.2%|
|22||Taiwan Province of China||1,251||0.93%|
|33||United Arab Emirates||724||0.54%|
|44||Hong Kong SAR||480||0.36%|
|101||Democratic Republic of the Congo||73||0.05%|
|110||Bosnia and Herzegovina||47||0.04%|
|112||Trinidad and Tobago||44||0.03%|
|128||Papua New Guinea||31||0.02%|
|131||Republic of Congo||30||0.02%|
|170||Central African Republic||4||0.003%|
|174||Antigua and Barbuda||3||0.002%|
|178||St. Kitts and Nevis||2||0.001%|
|181||St. Vincent and the Grenadines||1||0.001%|
|184||São Tomé and Príncipe||1||0.001%|
- Data Source: International Monetary Fund (IMF) World Economic Outlook (WEO) database, April 2019 edition.
- How does the WEO categorize advanced versus emerging market and developing economies? As per IMF, “The main criteria used by the WEO to classify the world into advanced economies and emerging market and developing economies are (1) per capita income level, (2) export diversification, and (3) degree of integration into the global financial system. Note, however, that these are not the only factors considered in deciding the classification of countries. This classification has evolved over time. The objective is to facilitate analysis by providing a reasonably meaningful method of organizing data. Reclassification only happens when something marked changes or the case for change in terms of the three criteria above becomes overwhelming.”