Countries with the largest economies in the world. Countries with the largest economies in the world World GDP by country in percentage
All kinds of ratings are derivatives of modern analytics and economics; they are designed to show the standard of living and development of humanity. Rating creators use various tools for this, including the results of public opinion polls. To identify leaders and laggards in the international arena, you need to know the features of the ranking of the most economically developed countries in the world.
Ratings of economic development of countries
Ranking by gross domestic product (GDP) level
Gross Domestic Product (GDP) is an indicator that reflects the market value of all final goods and services produced during the year and directly consumed in the territory of the state, as well as exported and accumulated. In English transcription it is designated - GDP.
Video: ten richest countries in the world
Gross domestic product is usually expressed in national currency. However, in certain cases it can be recalculated taking into account the indicator in a foreign reserve currency. Recalculation is carried out at the foreign exchange exchange rate. Also, GDP, for the purpose of more accurate representation and international comparison, can be considered as an indicator of purchasing power parity (PPP).
What is PPP - an indicator of purchasing power
Purchasing power parity (PPP) or in English transcription Purchasing Power Parity (PPP) is an indicator of the ratio of two or more currencies, which establishes the purchasing power of these currencies in relation to a set of certain goods or services.
The PPP theory states that the same amount of financial resources, recalculated taking into account the current exchange rate of the national currency of specific countries, allows you to buy the same amount of goods or services. In this case, transport costs and any transportation restrictions are not taken into account.
If the exchange rates of two different countries go beyond parity, the opportunity opens up to profitably purchase goods and services in one country with subsequent export to another country. As a result, the demand for one of the currencies that has the best performance increases. A good example of using PPP is the Big Mac index.
Big Mac Index
A way to unofficially determine PPP - purchasing power parity - is the Big Mac Index. The calculation is simple to the point of banality. There is no food basket used here. Instead, analysts take a simple sandwich for research - a product of the world famous company McDonald's.
Video: ruble exchange rate indicator for Big Mac
The task is to determine the real exchange rates of currencies of different countries. McDonald's products are sold in the markets of many countries. The components of sandwiches are widely used food products. Thus, if you compare the price of a sandwich in different countries, you can get a real picture of the value of the national currency. In Russia at the end of 2018, Big Macs were sold for $1.94.
Famous world experts put forward interesting definitions. In their opinion, the Russian ruble is undervalued by almost 70%, judging by the Big Mac Index.
How is GDP calculated in economics?
In practice, three calculation methods are used - based on income received, on existing expenses or on the basis of added value. For calculations in each specific case, formulas are used, where different economic indicators are used as calculation data.
The USA is the undisputed leader in terms of GDP in the world
Table of ranking countries by GDP in current prices for 2018 (nominal value)
Country ranking table by GDP based on 2018 PPP estimates
Ranking by level of economic freedom
The index of economic freedom (IEF - Index of Economic Freedom) is based on calculations made by a group of specialists from the Heritage Foundation and the Wall Street Journal, a popular newspaper in the United States. The principle of calculating the index of economic freedom is based on such indicators as minimal government intervention in business affairs, support for the freedom of producers and consumer protection. The overall index score is formed from 10 individual factors, measured on a scale from 0 (minimum freedom) to 100 (maximum freedom).
Factors of economic freedom:
The general index indicator of economic freedom is calculated as the arithmetic average of the sum of the indicators of all 10 factors. The authors of the methodology claim that the dynamics of the index accurately shows the level of economic freedom of countries. The calculations take into account the division of countries into 5 groups:
- Completely free (80–100).
- Free overall (70–79.9).
- Moderately loose (60–69.9).
- Minimum free (50–59.9).
- Limited in freedom (0–49.9).
Table: Best countries by level of economic freedom for 2018
№ | A country | Index | Degree of freedom |
1 | 90.2 | Available | |
2 | Singapore | 88.8 | Available |
3 | New Zealand | 84.2 | Available |
4 | Switzerland | 81.7 | Available |
5 | 80.9 | Available | |
6 | Ireland | 80.4 | Available |
7 | Estonia | 78.8 | Mostly free |
8 | Great Britain | 78.0 | Mostly free |
9 | Canada | 77.7 | Mostly free |
10 | UAE | 77.6 | Mostly free |
11 | Iceland | 77.0 | Mostly free |
12 | Denmark | 76.6 | Mostly free |
13 | Taiwan | 76.6 | Mostly free |
14 | Luxembourg | 76.4 | Mostly free |
15 | Sweden | 76.3 | Mostly free |
16 | Georgia | 76.2 | Mostly free |
17 | Netherlands | 76.2 | Mostly free |
18 | USA | 75.7 | Mostly free |
19 | Lithuania | 75.3 | Mostly free |
20 | Chile | 75.2 | Mostly free |
Table: Worst countries by level of economic freedom for 2018
№ | A country | Index | Degree of freedom |
160 | Niger | 49.5 | Unfree |
161 | Sudan | 49.4 | Unfree |
162 | Chad | 49.3 | Unfree |
163 | CAR | 49.2 | Unfree |
164 | Angola | 48.6 | Unfree |
165 | Ecuador | 48.5 | Unfree |
166 | Suriname | 48.1 | Unfree |
167 | East Timor | 48.1 | Unfree |
168 | Togo | 47.8 | Unfree |
169 | Turkmenistan | 47.1 | Unfree |
170 | Mozambique | 46.3 | Unfree |
171 | Djibouti | 45.1 | Unfree |
172 | Algeria | 44.7 | Unfree |
173 | Bolivia | 44.1 | Unfree |
174 | Zimbabwe | 44.0 | Unfree |
175 | Equatorial Guinea | 42.0 | Unfree |
176 | Eritrea | 41.7 | Unfree |
177 | Congo | 38.9 | Unfree |
178 | Cuba | 31.9 | Unfree |
179 | Venezuela | 25.2 | Unfree |
180 | North Korea | 5.8 | Unfree |
181 | Iraq | - | No rating |
182 | Libya | - | No rating |
183 | Liechtenstein | - | No rating |
184 | Somalia | - | No rating |
185 | Syria | - | No rating |
186 | Yemen | - | No rating |
Prosperity level
The Prosperity Index (LPI - Legatum Prosperity Index) is an analytical product of the British company Legatum Institute. Research in this direction has been carried out since 2006. The main purpose of research is to obtain reliable information regarding the well-being of societies around the world.
- Economic well-being.
- Success in business.
- Management efficiency.
- The quality of education.
- Quality of healthcare.
- Life safety.
- Civil liberties.
- Capitalization of society.
- Level of ecology, state policy on environmental issues.
The values of category factors are obtained by the method of sociological research and surveys. The calculation for each category is done by calculating the arithmetic mean. Based on calculations, each category is assigned a numerical value ranging from 0 – 110.
Taking into account all the factors and parameters included in the ranking, the traditional leaders in terms of prosperity are considered to be states with strong and developed economies (the USA, Western Europe, Australia and New Zealand). The greatest difficulties have been recorded in the underdeveloped countries of the African continent and some Asian countries (mainly in those where military conflicts continue, frequent changes of power are observed, and political instability is recorded).
Ranking table: Top countries for prosperity 2018
RATING | A COUNTRY | INDEX |
1 | 80.98 | |
2 | New Zealand | 80.90 |
3 | Finland | 80.58 |
4 | Switzerland | 79.71 |
5 | Denmark | 79.33 |
6 | Sweden | 79.15 |
7 | UK | 79.12 |
8 | Canada | 79.02 |
9 | Netherlands | 78.99 |
10 | Ireland | 78.95 |
11 | Iceland | 78.47 |
12 | Luxembourg | 78.15 |
13 | Australia | 78.10 |
14 | Germany | 77.72 |
15 | Austria | 76.64 |
16 | Belgium | 76.00 |
17 | United States of America | 76.00 |
18 | Slovenia | 74.65 |
19 | Malta | 74.10 |
20 | France | 74.06 |
Ranking table: Worst countries for prosperity in 2018
TOP 10 countries based on the top three rankings (GDP, IEF, LPI)
Based on the best indicators of the three main ratings, we can build the TOP 10 countries:
- Canada.
- Switzerland.
- New Zealand.
- Ireland.
- Sweden.
- Denmark.
- Netherlands.
- Finland.
Canada is an economically prosperous state, which, based on the totality of all indicators, has taken first place in the ranking of the most economically developed countries in the world
Rating of countries by level of corruption
The correct name of the rating is the Corruption Perceptions Index (CPI). The indicator reflects an assessment of the level of corruption from the point of view of the perception of this negative phenomenon by business representatives and analytical organizations.
The ranking is compiled by the well-known company Transparency International, which, since 1995, has traditionally published the results for the world community to see. The result is given on a 100-point scale, where 0 points means very strong corruption, 100 points means no corruption. The main sources of estimated data are independent surveys.
Ranking table: Top countries for corruption
2018 | A country | 2018 | 2017 | 2016 |
№ | № | № | № | |
1 | Denmark | 89 | 90 | 91 |
2 | New Zealand | 88 | 90 | 91 |
3 | Finland | 85 | 89 | 90 |
4 | Sweden | 85 | 85 | 87 |
5 | Switzerland | 85 | 86 | 86 |
6 | Singapore | 84 | 88 | 89 |
7 | 84 | 84 | 85 | |
8 | Netherlands | 82 | 83 | 87 |
9 | Canada | 82 | 82 | 83 |
10 | Luxembourg | 82 | 81 | 81 |
11 | Germany | 82 | 81 | 81 |
12 | Great Britain | 81 | 81 | 81 |
13 | 77 | 77 | 75 | |
14 | Iceland | 75 | 78 | 79 |
15 | 75 | 77 | 77 | |
16 | Austria | 75 | 79 | 79 |
17 | Belgium | 75 | 75 | 76 |
18 | Ireland | 75 | 74 | 76 |
19 | Japan | 74 | 73 | 75 |
20 | Estonia | 73 | 72 | 75 |
Ranking table: Worst countries for corruption
№ | A country | 2018 | 2017 | 2016 |
160 | Haiti | 22 | 20 | 17 |
161 | DR Congo | 21 | 21 | 21 |
162 | Chad | 21 | 21 | 22 |
163 | Republic of the Congo | 21 | 25 | 26 |
164 | Angola | 21 | 20 | 23 |
165 | Iraq | 20 | 20 | 22 |
166 | Venezuela | 19 | 18 | 15 |
167 | Burundi | 19 | 22 | 18 |
168 | Libya | 18 | 17 | 16 |
169 | Afghanistan | 18 | 17 | 17 |
170 | Sudan | 17 | 18 | 18 |
171 | Yemen | 17 | 16 | 17 |
172 | DPRK | 17 | ||
173 | Syria | 17 | 14 | 16 |
174 | South Sudan | 17 | 12 | 8 |
175 | Somalia | 16 | 14 | 12 |
176 | Yemen | 16 | 14 | 18 |
177 | Afghanistan | 15 | 15 | 11 |
178 | Syria | 14 | 13 | 18 |
Meanwhile, there are many complaints regarding the calculation and ranking of the level of corruption.
...Georgy Derlugyan, professor of sociology at Northwestern University, notes that it is extremely difficult to measure corruption, and that ratings should not be trusted completely: “In all ratings from Transparency International, Iceland, for example, took first place until we found out how banks actually work,” the professor notes...
Financial ratings of countries
A credit rating forms an indicator of a country's creditworthiness (credit scoring). Credit ratings (FR - Foreign Rating) are calculated based on indicators of current and past financial history. Also, the criteria for calculations are the volume of property and financial obligations.
Video: about Russia's credit rating
- financial history of the state,
- the size of his property,
- desire to pay off debts.
Such an index is needed to make it clear to potential lenders or investors how safe it is to deal with the country. States with a high degree of commitment are designated by the letter A, states of average and below - Ba, risky - B, with high risk and close to default - C.
Australia is one of the best countries for investment
Table: example of the appearance of a credit rating
As an example, we provide data on the leading countries of the world that are members of the G20 group
S&P | Moody's | Fitch | DBRS |
Argentina | B | B2 | B |
AAA | Aaa | AAA | |
Belgium | A.A. | Aa3 | AA- |
Brazil | BB- | Ba2 | BB- |
Canada | AAA | Aaa | AAA |
China | A+ | A1 | A+ |
European Union | A.A. | Aaa | AAA |
France | A.A. | Aa2 | A.A. |
Germany | AAA | Aaa | AAA |
India | BBB- | Baa2 | BBB- |
Indonesia | BBB- | Baa2 | BBB |
Italy | BBB | Baa3 | BBB |
Japan | A+ | A1 | A |
Mexico | BBB+ | A3 | BBB+ |
Netherlands | AAA | Aaa | AAA |
Poland | A- | A2 | A- |
Russia | BBB- | Baa3 | BBB- |
Saudi Arabia | A- | A1 | A+ |
South Korea | A.A. | Aa2 | AA- |
Spain | A- | Baa1 | A- |
Sweden | AAA | Aaa | AAA |
Switzerland | AAA | Aaa | AAA |
Taiwan | AA- | Aa3 | AA- |
Thailand | BBB+ | Baa1 | BBB+ |
Türkiye | B+ | Ba3 | BB |
Great Britain | A.A. | Aa2 | A.A. |
United States | AA+ | Aaa | AAA |
Venezuela | SD | C | R.D. |
Rating of countries by level of social progress
The indicators of the social progress index (SPI - Social Progress Index) are calculated by The Social Progress, an international research structure. Along with the noted company, analytical work is carried out by several well-known universities around the world. Harvard Business School is actively involved in research.
The index calculation process covers more than 50 different indicators. They are all divided into three categories:
- Needs (food, provision of water and medical care, housing, degree of personal safety).
- Well-being (access to education and information, literacy and communication levels).
- Development (the level of protection of civil and political rights and self-realization is determined).
The range of index values is 0 – 100. Accordingly, the initial number is zero development, the final number is development at a high level.
Table of indicators for the level of social progress for 2019
№ | A country | Index |
1 | 90.26 | |
2 | Iceland | 90.24 |
3 | Switzerland | 89.97 |
4 | Denmark | 89.96 |
5 | Finland | 89.77 |
6 | Japan | 89.74 |
7 | Netherlands | 89.34 |
8 | Luxembourg | 89.27 |
9 | Germany | 89.24 |
10 | New Zealand | 89.12 |
11 | Sweden | 88.99 |
12 | Ireland | 88.82 |
13 | Great Britain | 88.74 |
14 | Canada | 88.62 |
15 | 88.32 | |
16 | France | 87.88 |
17 | Belgium | 87.39 |
18 | South Korea | 87.43 |
19 | Spain | 87.11 |
20 | Austria | 86.76 |
Indicator table: Worst countries for social progress in 2019
№ | A country | Index |
130 | Mozambique | 44.49 |
131 | Burkina Faso | 44.02 |
132 | Madagascar | 42.59 |
133 | Mauritania | 41.85 |
134 | Ethiopia | 41.47 |
135 | Angola | 39.10 |
136 | Guyana | 39.09 |
137 | Sudan | 38.85 |
138 | Papua New Guinea | 38.17 |
139 | Burundi | 37.92 |
140 | Yemen | 37.29 |
141 | Niger | 36.69 |
142 | DR Congo | 35.63 |
143 | Eritrea | 33.74 |
144 | Afghanistan | 32.96 |
145 | Chad | 28.20 |
146 | CAR | 26.01 |
Video: ranking of endangered countries
Every year the population of our planet is growing rapidly. However, some states show a significant loss of working population. The main reasons for depopulation are the excess of the mortality rate over the birth rate and the negative migration balance (the number of migrants is less than the number of citizens traveling abroad for permanent residence). According to official UN data, the TOP 5 most endangered countries in the world per 1000 inhabitants are as follows:
- Lesotho – 14.9
In this small state, surrounded by the territory of the Republic of South Africa, the average life expectancy is 37 years. The AIDS infection rate here is estimated at 34%. The lack of quality medicine, the poor economic situation and the constantly worsening sanitary situation have made Lesotho a leader in the list of the most endangered countries in the world.
- Bulgaria – 14.5
In Bulgaria, the birth rate is almost 2 times lower than the death rate. The reason for this is the not very attractive economic situation. In search of a better life, young Bulgarians seek permanent residence in other European countries. As a result, according to preliminary data, every hour in Bulgaria 5 people die, 1 is born, 3 go abroad. If this pace continues, then by 2050 the population of Bulgaria may fall to 4 million (in 1989 - 9.1 million people).
- Lithuania – 14.5
This Baltic republic is characterized by a high level of emigration of young people who are looking for a better fate in the more developed countries of the European Union. As a result, the working-age population is rapidly decreasing, and the nation is aging.
- Ukraine – 14.4
One of the poorest countries in Europe. The military conflict in the east of the country, the low level of economic development and the lack of quality medicine have led to the fact that Ukraine is one of the world leaders in the number of emigrants (every 8th Ukrainian).
- Latvia – 14.3
This Baltic country has similar problems to Lithuania. The desire of young people to move to Europe has affected the sharp decrease in the working-age population. Due to the loss of youth in Latvia, the mortality rate is almost 1.5 times higher than the birth rate. Given the current trend, by 2050 the population in the Republic of Latvia may reach a maximum of 1.2 million people.
Various studies, surveys, and opinions, on the basis of which ratings are created, help to create a completely plausible picture of the life of the state. If a country uses a rating indicator, then it is easier for it to find ways and directions of development. Only one small detail remains inconvenient: ratings indicators can always be successfully used to achieve political goals, and such examples are becoming more and more common in the modern world.
This post is a collection of information about the most powerful economies in the world - the result of a short discussion on Facebook. We needed accurate comparative data on the development of economies in countries for a number of positions. The most representative position, in my opinion, is GDP per capita. More precisely GDP (gross domestic product) per capita at purchasing power parity (PPP). This indicator is the most accurate characteristic that determines the level of economic development, as well as economic growth.
Latest data collected from Wikipedia laid out in the form of tables, « when analyzing which it should be taken into account that countries use different so-called systems of national accounts. Thus, the USA, Canada, Ukraine and 28 EU countries presented their data for 2014 in accordance with the new SNA-2008, other countries, like Russia, are still according to the SNA-1993, and even then not in full: without taking into account conditional residential rent and assessment of natural resources. resources. The main difference between the 2008 SNA is that it additionally takes into account intellectual property, derivative financial instruments, R&D expenditures and weapons. Thus, the addition of new accounting items leads to a significant increase in macroeconomic indicators (including GDP per capita at PPP), especially for countries with highly developed technologies. This may serve as a justification for additional issue of cash.”
Despite some differences in the tables, it can be noted that for the most part, the analysis data are almost similar, and the best indicators are not at all from such giants in production and technology development as the USA, Japan, Germany, China, etc. For this indicator ahead of the rest of the world are Qatar, Luxembourg, Macau, Norway, Singapore, Switzerland, etc.
This material is collected using a different criterion: simply the total annual volume of nominal Gross Domestic Product. Whoever has the most, who has produced the most various products, has a higher position in the ranking. It's that simple.
Providing data on the economies of the countries of the world below, as a very clear representation of their power, I give a simple example in the form of a picture: countries with economies less than only one of the US states - California.
As you can see, this list includes - all countries of the world except USA, China, Germany and England and Japan. Impressive...
Unfortunately, at the time of publishing this article, I was able to find comparative data for dozens of the most developed industrial countries, but not later 2012. It’s a pity, but I believe that my reader will still get a more or less general idea of this information. And we will all be waiting for similar information on the Internet in the coming years.
Now this site has updated data, which reflects similar information about which those who wish can familiarize themselves with more recent data.
Information about countries with least developed economy: an article with the title is also available on this site.
The ranking of the strongest countries in the world is compiled according to the criterion of nominal GDP volume; it also takes into account the ever-increasing influence of the East on the planet’s economy. Russia strengthened its ninth position in the top ten countries.
1. USA
GDP US$15,094,025 Capital Washington Population 313,232,044 people Year of foundation 1776 Territory 9,518,900 km2 (excluding dependent territories). US Economy has held the lead for the last 100 years. Its components are the world's largest banking system and stock exchange, transnational corporations, highly productive agriculture and leadership in the innovative and high-tech industry, in particular the computer and telecommunications industry (Apple, Microsoft).
In 1732, Great Britain decided to close hat factories throughout America and obliged the colonists to buy expensive hats made in English factories. They say that such a dictatorship was one of the reasons for the American Revolution and the subsequent economic boom in the country.
Currently, the United States is home to 139 of the world's 500 largest companies, nearly twice as many as any other country. About 60% of the planet's foreign exchange reserves are converted into US dollars and only 24% into euros. The country has one of the most influential financial markets in the world.
In the field of information technology, the United States has no equal. Thus, in the ranking of Business Week magazine, out of 100 companies in the IT field, 75 are from the United States, and in the top twenty there are 17 “Americans,” including Apple, Microsoft, IBM, Adobe and others.
According to statistics, during the US American Football Championship, the average American spends 10 minutes a day discussing matches during work hours. Damage amounts to more than $800 million.
The first skyscraper in the world appeared in 1885 in Chicago. As of 2011, only 4 of the 25 tallest buildings on the planet are located in the United States
In the USA, children of rich parents do not live off their money, but try to build their own careers, relying only on their education and the connections acquired during their studies.
GDP US$7,298,147 Capital Beijing Population 1,347,374,752 people Year of foundation 1949 (PRC) Territory 9,596,960 km2 China at the beginning of the 21st century- a space and nuclear power, which by 2020, according to the plan of the Chinese Communist Party, should overtake the United States in terms of total GDP income. Exports provide 80% of China's government foreign exchange earnings. The country is a leader in the production of more than a hundred types of products, of which the most advanced are automotive and textiles.
The Chinese economy is the fastest growing in the world; its consistent growth rate is about 10% over the past 30 years. The country is also the largest exporter and second largest importer of goods. China's per capita GDP is $7,544. According to average expert estimates, in 8–10 years the absolute figures of China's GDP will catch up with and perhaps exceed those of the United States.
Provinces in China's coastal regions tend to be more industrialized than peripheral regions. By the way, the territories of Hong Kong and Macau are de facto independent and have special status. To visit them you need special permission.
The national currency is the yuan, which measures the value of Chinese “people’s money” Renminbi (RMB). The yuan exchange rate is set by the state, and it cannot be purchased abroad. 1 euro costs about 8 yuan, 1 yuan is a little more than 5 rubles. The Starbucks coffee chain in China is much more famous and stronger in various respects than the fast food restaurant McDonalds.
The population of China in 2012 was more than 1.3 billion people. According to average estimates, it will stop growing by 2030, when it will reach 1.465 billion.
Every year China hosts exhibitions of achievements in the field of high technology, the most famous of which is the Canton Fair in Guangzhou (CECF, Canton Fair). It is one of the most important events in the world of production and trade.
3. Japan
GDP US$5,869,471 CapitalPopulation 126,400,000 people Year of foundation 660 BC e. Territory 377,944 km2 By GDP size and industrial production volume Japan ranks 3rd after the USA and China. High technologies have been developed - electronics and robotics, as well as transport engineering, including automobile, shipbuilding, and machine tools. The fishing fleet makes up 15% of the world's. Agriculture is subsidized by the government, but 55% of food is imported.
For three decades from 1960, Japan experienced rapid economic growth, which was a consequence of the post-war “economic miracle”. The average rate was 10% in the 1960s, 5% in the 1970s and 4% in the 1980s.
Japan has a high degree of economic freedom: the government works closely with the manufacturer, stimulating its development. The main emphasis is on science and high technology. All this, as well as strict labor discipline, contribute to the rise of the Japanese economy.
A distinctive feature of the country is “keiretsu” - associations of manufacturers, suppliers, distributors around powerful banks, as well as relatively weak international competition in domestic markets. In addition, there are many more social than industrial agreements: for example, a guarantee of lifelong employment in large companies.
The country's three main banks - Mitsubishi UFJ Financial Group (MUFG), Mizuho and Sumitomo Mitsui Financial Group (SMFG) - are now overflowing with deposits.
Japan is the “robot capital” of the world. In terms of the number of industrial robots used, it is even ahead of the United States.
MUFG alone has 129 trillion yen ($1.6 trillion) in deposits and is the world's second-largest bank. The problem is that MUFG does not yet know how to manage this money.
4. Germany
GDP US$3,577,031 Capital Berlin Population 81,751,600 people Year of foundation 1990 Territory 357,021 km2 Economy of Germany- the largest in Europe. The engine of foreign trade is industry, which makes up a large share of GDP. Agriculture and energy are also developed: the country is a confident leader in the production of wind and solar generators, information and biotechnologies. Germany is the world's second largest exporter: a third of national production goes abroad.
Germany has the leading economy in the European Union and is the main creditor for most European countries, including crisis-ridden Greece. Most of the country's products are related to technology: cars and equipment. The chemical industry is also widely developed. The largest German companies operating in these industries have their branches, research centers and production facilities around the world.
Among them are the famous automobile concerns Volkswagen, BMW, Daimler, chemical companies Bayer, BASF, Henkel Group, the Siemens conglomerate, energy companies E.ON and RWE or the Bosch group. Cities such as Hanover, Frankfurt and Berlin host the largest annual international exhibitions and congresses.
Germany is the leading manufacturer of wind turbines and the main developer of solar energy technologies in the world.
At the end of the 19th century, Great Britain, in an attempt to protect its market from second-rate imports, required that German goods be labeled “Made in Germany.”
Now Germany is experiencing a real “boom” in the automobile industry. It owes this to its key market – China.
However, after a couple of decades, the quality of goods from Germany improved so much that this marking turned into a sign of the highest standard.
5. France
GDP US$2,776,324 Capital Paris Population 65,447,374 people Year of foundation 843 (Treaty of Verdun). Territory 674,685 km2 France by total economy occupies leading positions in the EU and consistently ranks among the world's top ten. Leaders in mechanical engineering, chemical and aerospace industries. In terms of agricultural production it is ahead of Germany, and in terms of agricultural exports it is ahead of the United States. Traditionally, the share of wines in exports is high. A major tourism center: more than 75 million travelers visit France every year.The French economy is the fifth largest in the world and the second largest in Europe (after its main partner, Germany). The country entered the 2008–2009 recession late and was able to exit earlier than most of its peers. From January to March 2011, French GDP growth was more dynamic than expected and amounted to 1%. One of the best indicators in Europe!
France is a nuclear power and one of the five permanent members of the UN Security Council, and it is the most visited country in the world. Paris can be called the tourist capital of the planet, and the Eiffel Tower is the most popular attraction on Earth. These facts automatically make France a champion of world tourism, which accounts for a large share of the state budget revenue. By the way, tips here are already included in your bill and amount to 15% of the order amount.
It is the most famous wine-producing country in the world. Wine was produced here even during the Roman invasion under the leadership of Julius Caesar. According to statistics, 72% of French people have difficulty understanding numerous wine brands.
Champagne was first produced in France in the 17th century. The drink was immediately nicknamed “devilish” - it exploded the barrels in which it was stored
The legendary Bordeaux alone has more than 9,000 varieties! The world's best liqueurs are also produced in France.
6. Brazil
GDP US$2,476,908 Capital Brasilia Population 189,987,291 people Year of foundation 1822 Territory 8,514,877 km2 Brazil has the greatest economic potential among Latin American countries and produces a variety of products: from petroleum products, steel and consumer goods to computers, cars and aircraft. One of Brazil's main exports is coffee. The country is also a leader in the production of sugar cane, from which ethanol is produced.
Brazil operates one of the fastest-growing economies in the world, with its GDP growing at an average rate of more than 5% per year. The country still maintains a high level of social inequality, inherited from the days of long colonization by Portugal. However, it has declined in recent years.
The 1970s marked the beginning of the Brazilian “economic miracle.” It was at this time that a successful national program was initiated to replace gasoline with more environmentally friendly and cheaper ethanol. As part of it, the government also obliged the largest automobile concerns to assemble only those models that can run on ethanol.
Currently, more than a third of GDP is provided by agriculture. The most important fact: Brazilians own 46% of the world market for Arabica coffee - the best type of coffee. At the same time, this state is the most controversial in Latin America in terms of investment. All large companies, as a rule, are extremely monopolized, and management is carried out by closed groups with state participation. The country has a number of customs bans on imports, which makes it difficult to purchase household appliances.
You can get to Mount Corcovado, where the statue of Christ the Savior stands, by rail - a train with two carriages rushes up the jungle-tangled slopes
According to Forbes (2011), Brazil has the eighth largest number of billionaires in the world.
7. UK
GDP US$2,417,570 Capital London Population e 62,698,362 people. Year of foundation 1801Territory 243,809 km2 Main export items– mechanical engineering, industrial goods and chemicals. The industrial corporation British Petroleum, which ranks 2nd in Europe in the ranking of the largest, allows you to save on the import of petroleum products and generates significant profits. The UK is also the world's second largest exporter of white clay, from which porcelain is made.
Many historians are inclined to believe that if Russia had passed the Great October Revolution, the country would have developed along the path of Great Britain. Today Britain is one of the most globalized countries in the world. London, along with New York, is the world's largest financial center and has the largest GDP of any city in Europe.
The pharmaceutical industry and oil production play an important role in the British economy - the country has oil and gas reserves in the North Sea worth about £250 billion. Britain carries out 10% of the world's exports of services - banking, insurance, brokerage, consulting, as well as in the field of computer programming. The country is currently ranked 4th in the world (and 1st in Europe) in the World Bank's Ease of Doing Business Index.
The United Kingdom's National Health Service is the third largest employer in the world after the Chinese Red Army and the Indian Railways.
According to tradition established at the beginning of the twentieth century, the birthday of the monarch is celebrated in Great Britain on one of the Saturdays in June - regardless of the actual date
Despite the deep integration (including economic) of all countries of the Kingdom, you will be refused if you wish to pay in Scottish pounds in shops in England, Wales or Northern Ireland. Most Britons don't even know what this money looks like!
8. Italy
GDP US$2,198,730 Capital Rome Population 56,995,744 people Year of foundation 1946 Territory 301,340, with islands 309,547 km2. Italy is a global supplier household appliances, one of the leaders in the automotive and industrial equipment industries. Exporter of food products: cheese, pasta, wine, olive oil, canned fruit and vegetables, as well as ready-made clothing and leather shoes. However, Italy has few natural resources and imports most raw materials and more than 80% of energy.
After World War II, Italy went through a long journey of significant economic transformation: starting from a total lag, it achieved a developed industrial economy. Per capita income was three times less than in the United States during the same period. Almost half of the country (42.2%) was employed in agriculture. At the moment, according to the IMF and the World Bank, Italy's economy is the eighth in the world and the fourth in Europe in terms of nominal GDP, as well as the tenth in the world and fifth in Europe in terms of GDP calculated by PPP.
Italy is significantly focused on foreign trade. Many of its food products are famous all over the world. Thus, legendary Italian wines, cheeses, and pizza are exported. Almost all products are marked with a special DOC mark (Denominazione di origine controllata), which is a designation of the highest quality - this helps foreign consumers to “weed out” simply similar products (for example, German Gambozola cheese is an imitation of Italian Gorgonzola).
Italian fashion houses Versace, Gucci, Prada, Cavalli, Dolce & Gabbana, Armani and others have become widely known.
The Italian sports car Ferrari 250 GTO of 1962, sold in 2012 for $35 million, acquired the status of the most expensive car.
Car enthusiasts are well familiar with the names of Italian car brands: Ferrari, Maserati and Lamborghini.
9. Russia
GDP US$1,850,401 Capital Moscow. Population 143,030,106 people Year of foundation 862 (beginning of Russian statehood). Territory 17,098,246 km2. Russian economy characterized by significant dependence on energy prices. According to the Federal State Statistics Service, 65.9% of Russia's exports consist of mineral raw materials. The remaining share includes metals and precious stones (16.3%), chemical products, machinery and equipment.
Russia is historically rich in intellectual resources. Unfortunately, most of them realize their potential in the West. For example, the founder of the Max Factor company was Maximilian Faktorovich, who opened his first store in Ryazan and emigrated in 1904. It is also worth remembering Google founder Sergei Brin and Daimler engineer Boris Lutsky.
Thanks to economic reforms in the 1990s, Russia privatized most industrial assets, with the exception of energy and defense enterprises. The country's main problem is its heavy dependence on energy resources, in particular oil and gas. The stock market is also on the path of its formation and is assessed by many as speculative. By the way, since 2011, Moscow has had the highest concentration of billionaires in the world.
According to the calculations of the consulting giant PricewaterhouseCoopers, by 2014 Russia will overtake Germany in terms of GDP and enter the top five countries.
Negotiations on Russia's accession to the WTO began in 1995, and the accession itself will take place in September 2012
A large influx of foreign investment and a new stage in economic development, according to experts, should follow in the near future - they are associated with world-scale sporting events: the Sochi Olympics in 2014 and the FIFA World Cup in 2018.
10. India
GDP US$1,430,020. Capital New Delhi. Population 1,210,193,422 people Founded 1950 (complete independence from Great Britain). Territory 3,287,590 km2. Economy of India covers all sectors: from agricultural production to industry. 67% of the working population is directly dependent on agriculture, which accounts for a third of GDP. India is the largest tea exporter and has the world's largest cattle population. At the same time, the defense, nuclear and space industries are highly developed
In the 17th century, India was the richest country in the world - until the arrival of colonialists from Great Britain. The Dutch, Danes, French, Portuguese and other peoples fought to gain trading privileges here. The country is the birthplace of algebra, trigonometry and chess. Now India is a vibrant and diverse state, its economy is increasingly integrated with the world.
The economic reforms carried out in the country since 1990 have had far-reaching consequences. General Electric Capital considers this country unique, PepsiCo finds it the fastest growing, and Motorola is confident that India is becoming one of the leading powers on the planet. Currently, the state is dynamically ascending to the position of a world leader in the IT sector.
One of the main advantages of India is high qualifications and relatively low labor costs, which are actively used by transnational corporations. India is now in 4th place in the world in terms of GDP at purchasing power parity, and in 2050 its volume will overtake the US.
The Taj Mahal monument-mausoleum is a symbol of the tender love of King Shah Jahan for his beautiful wife Mumtaz Mahal
Despite rapid economic growth, India continues to face problems of social inequality and high unemployment.
Text by Dmitry Zolotavin, financial consultant at A-Club in Tyumen, Alfa-Bank
How to identify countries with strong economies among the huge number of countries in the world? To identify highly developed states, let's pay attention to ratings - the results of comparative studies done by international experts and organizations to rank countries according to various indicators. Every year, studies are published demonstrating which countries have risen to the TOP and which have fallen down. Let's consider the main indicators that determine which countries in 2019 became the most influential in the economic field and have the highest standard of living, prosperity and freedom.
Level of economic development
The level of economic development evaluates the efficiency and maturity of the country's economy. It is not for nothing that only countries with a high level of economic development are included in the developed group, while the rest are called developing. This level is determined by various ratings.
Rating of countries by GDP
The key indicator is the level of gross domestic product (GDP). This is the name given to the total value of goods, services and other results of the activities of enterprises, firms, companies, institutions, organizations, and individuals. This is the result of the work of all residents of the country in question during the year. It is calculated in two ways. The first is when all income received during the year is added up: interest, profit, salary, and so on. The second is when expenses are summed up (government purchases, investments, consumption, exports minus imports). The official source of such information is the World Bank database. Statistics are updated every year and published in the fall. The indicator is also recorded by the International Monetary Fund and the UN.
The backbone of the world's GDP is produced by only a few countries, mostly large in territory and population.
If all goods and services produced in monetary terms (GDP) are an absolute value, then by comparing the gross domestic product with the population size, we obtain a relative indicator indicating the well-being of citizens.
According to the World Bank and the IMF, the United States of America has the best GDP indicators. Based on countries, the first places in this indicator are occupied by:
№ | A country | 2016 | 2017 |
1 | USA | 18624 | 19391 |
2 | China | 11222 | 12015 |
3 | Japan | 4949 | 4872 |
4 | Germany | 3479 | 3685 |
5 | Great Britain | 2661 | 2625 |
6 | India | 2274 | 2611 |
7 | France | 2466 | 2584 |
8 | Brazil | 1793 | 2055 |
9 | Italy | 1860 | 1938 |
10 | Canada | 1536 | 1652 |
11 | Russia | 1285 | 1578 |
12 | The Republic of Korea | 1411 | 1538 |
13 | Australia | 1265 | 1380 |
14 | Spain | 1238 | 1314 |
15 | Mexico | 1077 | 1149 |
16 | Indonesia | 864 | 932 |
17 | Türkiye | 859 | 857 |
18 | Netherlands | 751 | 771 |
19 | Switzerland | 671 | 660 |
20 | Saudi Arabia | 652 | 640 |
The presented table with indicators is an actual value, which does not take into account the difference in prices for similar goods and services. As a consequence of this omission, the GDP of developed countries is often overstated, while developing countries have lower figures.
Since purchasing power parity is a more important measure of the quality of life in countries around the world, another ranking based on PPP is more credible.
According to the International Bank, the GDP level at PPP for the countries of the world is:
№ | A country | 2017 | 2018 | 2018 |
1 | China | 23190 | 25270 | 18,69 |
2 | USA | 19485 | 20494 | 15,16 |
3 | India | 9597 | 10505 | 7,77 |
4 | Japan | 5427 | 5594 | 4,14 |
5 | Germany | 4199 | 4356 | 3,22 |
6 | Russia | 4027 | 4213 | 3,12 |
7 | Indonesia | 3250 | 3495 | 2,59 |
8 | Brazil | 3255 | 3365 | 2,49 |
9 | Great Britain | 2930 | 3038 | 2,25 |
10 | France | 2854 | 2963 | 2,19 |
11 | Mexico | 2464 | 2570 | 1,90 |
12 | Italy | 2324 | 2397 | 1,77 |
13 | Türkiye | 2186 | 2293 | 1,70 |
14 | The Republic of Korea | 2035 | 2136 | 1,58 |
15 | Spain | 1778 | 1864 | 1,38 |
16 | Saudi Arabia | 1777 | 1858 | 1,37 |
17 | Canada | 1764 | 1837 | 1,36 |
18 | Iran | 1640 | 1611 | 1,19 |
19 | Thailand | 1240 | 1320 | 0,98 |
20 | Australia | 1254 | 1318 | 0,98 |
The International Bank evaluates all the economies of the world with the exception of Syria (due to active hostilities), Somalia (since the state has actually broken up into several separate parts) and Venezuela (domestic politics is extremely closed, it is impossible to reliably estimate the level of GDP based on PPP).
Economic freedom
The most important indicator of a country's development is the level (or index) of economic freedom. It has been determined by the American think tank The Heritage Foundation since 1995 and published annually on its website and in the Wall Street Journal.
Experts from the Heritage Foundation center, based on the theories of Adam Smith, define economic freedom as the level of non-interference by the state in the process of production, distribution and consumption, except in situations where it is necessary to protect citizens.
The index is calculated based on the arithmetic average of ten freedom criteria - property, absence of corruption, government share in regulating the economy, freedom of trade, investment, labor, entrepreneurship, monetary, fiscal, financial. For each of them, a rating scale is developed from 0 to 100 points, which are ultimately summed up. The higher the score, the higher the level of economic freedom.
Available | ||
1. | Hong Kong | 90,2 |
2. | Singapore | 89,4 |
3. | New Zealand | 84,4 |
4. | Switzerland | 81,9 |
5. | Australia | 80,9 |
6 | Ireland | 80,5 |
Mostly free | ||
7. | Great Britain | 78,9 |
8. | Canada | 77,7 |
9. | UAE | 77,6 |
10. | Republic of China | 77,3 |
11. | Iceland | 77,1 |
12. | USA | 76,8 |
13. | Netherlands | 76,8 |
14. | Denmark | 76,7 |
15. | Estonia | 76,6 |
16. | Georgia | 75,9 |
17. | Luxembourg | 75,9 |
18. | Chile | 75,4 |
19. | Sweden | 75,2 |
20. | Finland | 74,9 |
21. | Lithuania | 74,2 |
22. | Malaysia | 74,0 |
23. | Czech | 73,7 |
24. | Germany | 73,5 |
25. | Mauritius | 73,0 |
26. | Norway | 73,0 |
27. | Israel | 72,8 |
28. | Qatar | 72,6 |
29. | The Republic of Korea | 72,3 |
30. | Japan | 72,1 |
31. | Austria | 72,0 |
32. | Rwanda | 71,1 |
33. | North Macedonia | 71,1 |
34. | Macau | 71,0 |
35. | Latvia | 70,4 |
Thus, countries with a free economy (from 80 points and above) in 2019 are considered to be Hong Kong, Singapore, New Zealand, Australia, Ireland and Switzerland.
As for the countries of the former USSR, in most cases the level of economic freedom in them is weak. Most states are characterized by active influence of the state on all spheres of life, which often creates some inconveniences and hinders the free development of the economy.
As an example, we present data from 2 studies conducted in 2016 and 2019 for comparison:
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Prosperity Rating
The economic achievements of countries around the world are also measured by their level of prosperity. This indicator is offered by the English analytical center Legatum Institute. He has been calculating it since 2006. This index is determined by the level of social well-being of countries in the areas of economic development, entrepreneurship, governance, health, safety, education, personal freedoms and social capital. Each of the eight criteria is calculated on the basis of statistical studies by the UN, the World Bank, sociological data from the Gallup Institute and other authoritative centers. Based on the results of comparative studies, a ranking of states is published annually. In 2019, such results were published for 142 countries.
RATING | A COUNTRY | INDEX |
1 | Norway | 80.98 |
2 | New Zealand | 80.90 |
3 | Finland | 80.58 |
4 | Switzerland | 79.71 |
5 | Denmark | 79.33 |
6 | Sweden | 79.15 |
7 | UK | 79.12 |
8 | Canada | 79.02 |
9 | Netherlands | 78.99 |
10 | Ireland | 78.95 |
11 | Iceland | 78.47 |
12 | Luxembourg | 78.15 |
13 | Australia | 78.10 |
14 | Germany | 77.72 |
15 | Austria | 76.64 |
16 | Belgium | 76.00 |
17 | United States of America | 76.00 |
18 | Slovenia | 74.65 |
19 | Malta | 74.10 |
20 | France | 74.06 |
21 | Singapore | 73.73 |
22 | Hong Kong | 72.93 |
23 | Japan | 72.79 |
24 | Portugal | 72.61 |
25 | Spain | 72.49 |
26 | Estonia | 72.44 |
27 | Czech | 72.08 |
28 | Cyprus | 70.53 |
29 | Mauritius | 69.76 |
30 | Uruguay | 69.72 |
31 | Costa Rica | 69.33 |
32 | Slovakia | 68.84 |
33 | Poland | 68.33 |
34 | Italy | 68.27 |
35 | South Korea | 67.82 |
36 | Lithuania | 67.72 |
37 | Israel | 67.66 |
38 | Chile | 67.59 |
39 | United Arab Emirates | 67.01 |
40 | Latvia | 66.71 |
The best indicators on the prosperity index are in Norway, Switzerland, Denmark, New Zealand, Sweden, Canada, Australia, and the Netherlands.
Other indicators
There are other indicators by which the rating of a country's economic development is measured. This is the level of GDP per capita. It is not considered a strict characteristic, but is considered an important indicator.
Recent studies of GDP per capita (nominal) according to World Bank estimates show the following results:
№ | A country | $ |
1 | Luxembourg | 104103 |
- | Macau | 80893 |
2 | Switzerland | 80190 |
3 | Norway | 75505 |
4 | Iceland | 70057 |
5 | Ireland | 69331 |
6 | Qatar | 63506 |
7 | USA | 59532 |
8 | Singapore | 57714 |
9 | Denmark | 56307 |
10 | Australia | 53800 |
11 | Sweden | 53442 |
12 | San Marino | 49664 |
13 | Netherlands | 48223 |
14 | Austria | 47291 |
- | Hong Kong | 46194 |
15 | Finland | 46703 |
16 | Canada | 45032 |
17 | Germany | 44470 |
18 | Belgium | 43324 |
19 | New Zealand | 42941 |
20 | UAE | 40699 |
60 | Russia | 10743 |
- | World | 10714 |
A more accurate characteristic is the level of the same indicator in terms of parity (ratio of several currencies) of purchasing power per capita for a certain set of services or goods.
Here the first places are occupied by:
№ | A country | 2017 | 2018 |
1 | Qatar | 127755 | 130475 |
- | Macau (PRC) | 110592 | 116808 |
2 | Luxembourg | 103298 | 106705 |
3 | Singapore | 95508 | 10345 |
4 | Brunei | 78971 | 79530 |
5 | Ireland | 73215 | 78785 |
6 | Norway | 72170 | 74356 |
7 | UAE | 68639 | 69382 |
8 | Kuwait | 66197 | 67000 |
9 | Switzerland | 62131 | 64649 |
- | Hong Kong (PRC) | 61529 | 64216 |
10 | USA | 59895 | 62606 |
11 | San Marino | 68624 | 60313 |
12 | Netherlands | 53933 | 56383 |
13 | Saudi Arabia | 54595 | 55944 |
14 | Iceland | 53834 | 55917 |
- | Taiwan (PRC) | 50593 | 53023 |
15 | Sweden | 51180 | 52984 |
16 | Germany | 50804 | 52559 |
17 | Australia | 50609 | 52373 |
18 | Austria | 50035 | 52137 |
19 | Denmark | 50643 | 52121 |
20 | Bahrain | 49035 | 50057 |
49 | Russia | 27964 | 29267 |
The Human Development Index, which has been published in the reports of the UN Development Program since 1990, is another traditional comparative indicator of living standards and the economy. Norway, Australia, Switzerland, the Netherlands, the USA, Germany, New Zealand, Canada, Singapore, and Denmark have a very high human development rating, according to the latest 2014 report.
Based on all these indicators, the strongest and most efficient economies in the world for 2019 are:
2. Hong Kong
3. Australia
4. Germany
5. Switzerland
7. Netherlands
8. New Zealand
9. Singapore
10. Japan
Corruption Perception Index
Since 1996, the corruption level rating has been recognized as the most important indicator of the state of the country’s economy. The official name is the Corruption Perceptions Index. It was introduced by the international non-governmental organization Transparency International. It takes into account how widespread corruption is in the public sector. This ranking is calculated by analyzing surveys and statistical data. Within the framework of the study, corruption is understood as any extraction of personal gain through abuse of official position.
Interesting: the study is not based on statistics of criminal cases or sentences, but on the opinions of those who suffer from corruption or study this phenomenon.
To determine this index, a scale from “zero” to “one hundred” was developed, where 0 means the maximum level of corruption, and 100 means its absence. Although the methodology by which the rating is determined has been subject to criticism, it is generally considered by experts to be relatively reliable.
2018 | A country | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
№ | № | № | № | № | № | № | № | |
1 | Denmark | 89 | 90 | 91 | 91 | 91 | 90 | |
2 | New Zealand | 88 | 90 | 91 | 92 | 91 | 90 | |
3 | Finland | 85 | 89 | 90 | 89 | 89 | 90 | |
4 | Sweden | 85 | 85 | 87 | 86 | 86 | 85 | |
5 | Switzerland | 85 | 86 | 86 | 86 | 85 | 86 | |
6 | Singapore | 84 | 88 | 89 | 87 | 89 | 88 | |
7 | Norway | 84 | 84 | 85 | 84 | 86 | 87 | |
8 | Netherlands | 82 | 83 | 87 | 83 | 83 | 84 | |
9 | Canada | 82 | 82 | 83 | 81 | 81 | 84 | |
10 | Luxembourg | 82 | 81 | 81 | 79 | 78 | 79 | |
11 | Germany | 82 | 81 | 81 | 78 | 76 | 74 | |
12 | Great Britain | 81 | 81 | 81 | 82 | 80 | 80 | |
13 | Australia | 77 | 77 | 75 | 74 | 75 | 77 | |
14 | Iceland | 75 | 78 | 79 | 79 | 78 | 82 | |
15 | Hong Kong | 75 | 77 | 77 | 76 | 75 | 75 | |
16 | Austria | 75 | 79 | 79 | 80 | 81 | 85 | |
17 | Belgium | 75 | 75 | 76 | 72 | 69 | 69 | |
18 | Ireland | 75 | 74 | 76 | 74 | 73 | 73 | |
19 | Japan | 74 | 73 | 75 | 74 | 72 | 69 | |
20 | Estonia | 73 | 72 | 75 | 76 | 74 | 74 |
The most difficult situation with corruption is observed in the following countries:
170 | Sudan | 17 | 18 | 18 | 18 | 20 | 25 |
171 | Yemen | 17 | 16 | 17 | 19 | 19 | 25 |
172 | DPRK | 17 | |||||
173 | Syria | 17 | 14 | 16 | 18 | 15 | 21 |
174 | South Sudan | 17 | 12 | 8 | 8 | 8 | 8 |
175 | Somalia | 16 | 14 | 12 | 11 | 11 | 13 |
176 | Yemen | 16 | 14 | 18 | 19 | 18 | 23 |
177 | Afghanistan | 15 | 15 | 11 | 12 | 8 | 8 |
178 | Syria | 14 | 13 | 18 | 20 | 17 | 26 |
179 | South Sudan | 12 | 11 | 15 | 15 | 14 | |
180 | Somalia | 9 | 10 | 8 | 8 | 8 | 8 |
Credit ratings
The economic “health” of a country is also assessed by financial or credit ratings. They are calculated taking into account the financial history of the state, the size of its property and the ability and desire to pay debts. Such an index is needed to make it clear to potential lenders or investors how safe it is to deal with the country. Financial ratings are assessed by international agencies. Moody's, Standard and Poor's and Fitch have the most serious reputations. They work all over the world and help distinguish reliable partners from unreliable ones. Each of them has its own naming system, but in general, countries with a high degree of commitment are designated by the letter A, those of average and below - Ba, risky - B, with high risk and close to default - C.
№ | A country | Long-term rating | Short-term rating |
1 | USA | AAA | F1+ |
2 | Great Britain | A.A. | F1+ |
3 | Germany | AAA | F1+ |
4 | France | A.A. | F1+ |
5 | Japan | A | F1 |
6 | Spain | A- | F1 |
7 | Italy | BBB | F2 |
8 | Portugal | BBB | F2 |
9 | Greece | BB- | B |
10 | Ireland | A+ | F1+ |
11 | Andorra | BBB+ | F2 |
12 | UAE | A.A. | F1+ |
13 | Armenia | B+ | B |
14 | Angola | B | B |
15 | Argentina | B | B |
16 | Austria | AA+ | F1+ |
17 | Australia | AAA | F1+ |
18 | Azerbaijan | BB+ | B |
19 | Bangladesh | BB- | B |
20 | Belgium | AA- | F1+ |
21 | Bulgaria | BBB | F2 |
22 | Bahrain | BB- | B |
23 | Benin | B | B |
24 | Bolivia | BB- | B |
25 | Brazil | BB- | B |
26 | Belarus | B | B |
27 | Canada | AAA | F1+ |
28 | Congo | CC | C |
29 | Switzerland | AAA | F1+ |
30 | Ivory Coast | B+ | B |
31 | Chile | A | F1 |
32 | Cameroon | B | B |
33 | China | A+ | F1+ |
34 | Colombia | BBB | F2 |
35 | Costa Rica | BB | B |
36 | Cape Verde | B | B |
37 | Cyprus | BB+ | B |
38 | Czech | AA- | F1+ |
39 | Denmark | AAA | F1+ |
40 | Dominican Republic | BB- | B |
41 | Ecuador | B | B |
42 | Estonia | A+ | F1+ |
43 | Egypt | B | B |
44 | Ethiopia | B | B |
45 | Finland | AA+ | F1+ |
46 | Gabon | B | B |
47 | Georgia | BB- | B |
48 | Ghana | B | B |
49 | Gambia | CCC | C |
50 | Guatemala | BB | B |
51 | Hong Kong | AA+ | F1+ |
52 | Croatia | BB+ | B |
53 | Hungary | BBB- | F3 |
54 | Indonesia | BBB | F2 |
55 | Israel | A+ | F1+ |
56 | India | BBB- | F3 |
57 | Iraq | B- | B |
58 | Iran | B+ | B |
59 | Iceland | A | F1 |
60 | Jamaica | B | B |
61 | Kenya | B+ | B |
62 | South Korea | AA- | F1+ |
63 | Kuwait | A.A. | F1+ |
64 | Kazakhstan | BBB | F2 |
65 | Lebanon | B- | B |
66 | Sri Lanka | B+ | B |
67 | Lesotho | B+ | B |
68 | Lithuania | A- | F1 |
69 | Luxembourg | AAA | F1+ |
70 | Latvia | A- | F1 |
71 | Libya | B | B |
72 | Morocco | BBB- | F3 |
73 | Moldova | B- | B |
74 | Macedonia | BB | B |
75 | Mali | B- | B |
76 | Mongolia | B | B |
77 | Malta | A+ | F1+ |
78 | Maldives | B+ | B |
79 | Malawi | B- | B |
80 | Mexico | BBB+ | F2 |
81 | Malaysia | A- | F1 |
82 | Mozambique | R.D. | C |
83 | Namibia | BB+ | B |
84 | Nigeria | B+ | B |
85 | Nicaragua | B | B |
86 | Netherlands | AAA | F1+ |
87 | Norway | AAA | F1+ |
88 | New Zealand | A.A. | F1+ |
89 | Oman | BBB- | F3 |
90 | Panama | BBB | F2 |
91 | Peru | BBB+ | F2 |
92 | Papua New Guinea | B+ | B |
93 | Philippines | BBB | F2 |
94 | Pakistan | B | B |
95 | Poland | A- | F2 |
96 | Paraguay | BB | B |
97 | Qatar | AA- | F1+ |
98 | Romania | BBB- | F3 |
99 | Serbia | BB | B |
100 | Russia | BBB- | F3 |
101 | Rwanda | B+ | B |
102 | Saudi Arabia | A+ | F1+ |
103 | Seychelles | BB- | B |
104 | Sweden | AAA | F1+ |
105 | Singapore | AAA | F1+ |
106 | Slovenia | A- | F1 |
107 | Slovakia | A+ | F1+ |
108 | San Marino | BBB- | F3 |
109 | Suriname | B- | B |
110 | Salvador | B- | B |
111 | Thailand | BBB+ | F2 |
112 | Turkmenistan | CCC- | C |
113 | Tunisia | B+ | B |
114 | Türkiye | BB | B |
115 | Taiwan | AA- | F1+ |
116 | Ukraine | B- | B |
117 | Uganda | B+ | B |
118 | Uruguay | BBB- | F3 |
119 | Venezuela | R.D. | C |
120 | Vietnam | BB | B |
121 | South Africa | BB+ | B |
122 | Zambia | B | B |
Rating | Rating value |
AAA | lowest risk, maximum creditworthiness |
AA+ | moderate risk, very high creditworthiness, first level |
AA | moderate risk, very high creditworthiness, second level |
AA- | moderate risk, very high creditworthiness, third level |
A | moderate risk, high creditworthiness, second level |
A- | moderate risk, high creditworthiness, third level |
BBB+ | moderate risk, sufficient creditworthiness, first level |
BBB | moderate risk, sufficient creditworthiness, second level |
BBB- | moderate risk, sufficient creditworthiness, third level |
SSS | high risk and threat of default, significant credit risk |
Index with a “human face”
The past few years have demonstrated the importance of such an indicator of economic development as social progress. Previous indicators corresponded to economic theories, but they did not show how economic growth affected people's lives. Therefore, in 2013, the Social Progress Index was developed as an alternative to economic indicators. Its author is Harvard University professor Michael Porter. This rating is calculated based on the analysis of data from sociological surveys, expert opinions and statistical information from international organizations. When determining each country's achievements in this area, researchers took into account more than fifty factors.
- This is the satisfaction of basic needs - food, provision of water and medical care, housing, degree.
- Then the fundamental foundations of well-being are taken into account - access to education and information, literacy and communication levels.
- And finally, development opportunities are analyzed - the level of protection of civil and political rights and self-realization is determined.
RATING | A COUNTRY | INDEX |
1 | Norway | 90.26 |
2 | Iceland | 90.24 |
3 | Switzerland | 89.97 |
4 | Denmark | 89.96 |
5 | Finland | 89.77 |
6 | Japan | 89.74 |
7 | Netherlands | 89.34 |
8 | Luxembourg | 89.27 |
9 | Germany | 89.21 |
10 | New Zealand | 89.12 |
11 | Sweden | 88.99 |
12 | Ireland | 88.82 |
13 | UK | 88.74 |
14 | Canada | 88.62 |
15 | Australia | 88.32 |
16 | France | 87.88 |
17 | Belgium | 87.39 |
18 | South Korea | 87.13 |
19 | Spain | 87.11 |
20 | Austria | 86.76 |
21 | Italy | 86.04 |
22 | Slovenia | 85.50 |
23 | Singapore | 85.42 |
24 | Portugal | 85.36 |
25 | United States of America | 84.78 |
26 | Czech | 84.66 |
27 | Estonia | 83.49 |
28 | Cyprus | 82.85 |
29 | Greece | 82.59 |
30 | Israel | 82.47 |
60 | Russia | 70.16 |
It is clear from the research we have analyzed that there is a direct link between economic freedom, financial security, standard of living and social progress. Countries such as New Zealand, Australia, Canada, Switzerland, Norway, and the Netherlands lead the way in providing their citizens with decent, civil and political rights, and paying their bills fairly. Little Asian “tigers”: Singapore or Hong Kong, like the oil “millionaires” (UAE, Qatar) are “ahead of the rest of the planet” in terms of economic freedom and per capita income. But countries with strong and efficient economies - the USA, China, Japan, Great Britain, Germany - are distributed in different positions in the ranking, because they are not always able to provide the people living there with a high level of income and opportunities for development.
The wealth of a country can be absolute or relative. Absolute refers to the total quantity of goods and services produced (GDP). Under relative - GDP divided by the number of people inhabiting the country. Therefore, if the first indicator shows the country’s share in global GDP (gross domestic product), the second shows the level of well-being of its citizens. And, surprisingly, the rankings of absolute and relative wealth of countries are completely different from each other.
The richest countries in the world 2015 by absolute GDP
The richest country in the world 2015 – USA
America managed to defend its leadership in 2015 against the backdrop of a slowdown in the economies of the Eurozone and China.
2nd place – China
The PRC could have pushed its regular USA out of first place, but it has stopped its rapid growth, which has been characteristic of the republic in recent years. Experts explain the slowdown of this “locomotive” by the rise in labor costs.
3rd place went to Japan
The island nation continues to be the largest exporter of technology and innovative products, while having one of the lowest unemployment rates.
Germany took 4th place
The main economy of the Eurozone continues to bear the burden of debtors. However, despite this, it has excellent economic indicators.
5th place – behind Great Britain
Sherlock Holmes' homeland is focused on energy and aircraft manufacturing. In addition, London is a global financial and tourism center, which allows it to accumulate significant financial investments.
Russia took 15th place
The sanctions and the negative impact on the economy had an impact.
The list of Top 50 countries by GDP 2015 is as follows:
Place | A country | GDP, billion $ |
1 | USA | 18124,7 |
2 | 11211,9 | |
3 | 4210,4 | |
4 | 3413,5 | |
5 | 2853,4 | |
6 | France | 2469,5 |
7 | India | 2308,0 |
8 | Brazil | 1903,9 |
9 | Italy | 1842,8 |
10 | Canada | 1615,5 |
11 | South Korea | 1435,1 |
12 | Australia | 1252,3 |
13 | Mexico | 1232,0 |
14 | Spain | 1230,2 |
15 | 1176,0 | |
16 | Indonesia | 895,7 |
17 | Türkiye | 752,5 |
18 | Netherlands | 749,4 |
19 | Switzerland | 688,4 |
20 | Saudi Arabia | 649,0 |
21 | Argentina | 563,1 |
22 | Taiwan | 527,8 |
23 | Nigeria | 515,4 |
24 | Poland | 491,2 |
25 | Sweden | 487,4 |
26 | Belgium | 463,8 |
27 | Norway | 421,0 |
28 | Iran | 393,5 |
29 | Thailand | 386,3 |
30 | Austria | 380,6 |
31 | UAE | 363,7 |
32 | Colombia | 332,4 |
33 | Malaysia | 327,9 |
34 | South Africa | 323,8 |
35 | Hong Kong | 310,1 |
36 | Philippines | 308,0 |
37 | Israel | 306,9 |
38 | Denmark | 297,4 |
39 | 296,1 | |
40 | Chile | 250,5 |
41 | Finland | 235,3 |
42 | Ireland | 220,0 |
43 | Greece | 207,1 |
44 | Bangladesh | 205,3 |
45 | Vietnam | 204,5 |
46 | Kazakhstan | 203,1 |
47 | Portugal | 201,0 |
48 | 197,0 | |
49 | New Zealand | 191,7 |
50 | Peru | 190,3 |
According to IMF estimates for 2015
The richest countries in the world 2015 by level of well-being of citizens (GDP per capita)
The richest citizens in 2015 live in Qatar
Since oil was discovered in Qatar, two million of its citizens have been unable to work.
Second place goes to Luxembourg
Thanks to the offshore zone, a huge number of banks and investment funds are located in Luxembourg. Because of this, its 500 thousand population are among the wealthiest people in the world.
3rd place – behind Singapore
The “economic miracle” created by Lee Kuan Yew attracted a huge amount of global investment and business, which immediately affected the standard of living of the citizens of this state.
4th place – Brunei
Thanks to huge oil and gas reserves, Brunei has completely free education and healthcare, and the Sultan of Brunei is one of the richest people on the planet with a fortune of $38 billion.
5th place – Kuwait
95% of budget income is the export of hydrocarbons.
Russia ranks 53rd in terms of GDP per capita
List of Top 50 countries by GDP per capita
Place | A country | GDP $ |
1 | 143532 | |
2 | 93174 | |
3 | 85198 | |
4 | 72370 | |
5 | 70914 | |
6 | Norway | 67445 |
7 | UAE | 65149 |
8 | San Marino | 61836 |
9 | Switzerland | 58731 |
10 | Hong Kong | 56428 |
11 | USA | 56421 |
12 | Saudi Arabia | 53149 |
13 | Bahrain | 52515 |
14 | Ireland | 51119 |
15 | Netherlands | 48317 |
16 | Taiwan | 47899 |
17 | Australia | 47608 |
18 | Sweden | 47229 |
19 | Austria | 47031 |
20 | 46896 | |
21 | Canada | 45723 |
22 | Denmark | 45451 |
23 | Iceland | 45269 |
24 | Belgium | 43800 |
25 | France | 41018 |
26 | Finland | 40838 |
27 | 40676 | |
28 | Oman | 40539 |
29 | 38216 | |
30 | South Korea | 36601 |
31 | New Zealand | 36152 |
32 | Italy | 35811 |
33 | Spain | 34899 |
34 | Malta | 34544 |
35 | Israel | 33495 |
36 | Trinidad and Tobago | 32654 |
37 | Czech | 30895 |
38 | Cyprus | 30770 |
39 | Slovenia | 30508 |
40 | Slovakia | 29210 |
41 | Lithuania | 28210 |
42 | Estonia | 27995 |
43 | Portugal | 27624 |
44 | Equatorial Guinea | 26810 |
45 | Greece | 26773 |
46 | Seychelles | 26443 |
47 | Poland | 26210 |
48 | Hungary | 25895 |
49 | Malaysia | 25632 |
50 | Bahamas | 25577 |
The ranking of the strongest countries in the world is compiled according to the criterion of nominal GDP volume; it also takes into account the ever-increasing influence of the East on the planet’s economy. Russia strengthened its ninth position in the top ten countries.
1. USA
A few facts
GDP US$15,094,025
Capital Washington
Population 313,232,044 people
Year of foundation 1776
Territory 9,518,900 km2 (excluding dependent territories)
US Economy has held the lead for the last 100 years. Its components are the world's largest banking system and stock exchange, transnational corporations, highly productive agriculture and leadership in the innovative and high-tech industry, in particular the computer and telecommunications industry (Apple, Microsoft).
In 1732, Great Britain decided to close hat factories throughout America and obliged the colonists to buy expensive hats made in English factories. They say that such a dictatorship was one of the reasons for the American Revolution and the subsequent economic boom in the country.
Currently, the United States is home to 139 of the world's 500 largest companies, nearly twice as many as any other country. About 60% of the planet's foreign exchange reserves are converted into US dollars and only 24% into euros. The country has one of the most influential financial markets in the world.
In the field of information technology, the United States has no equal. Thus, in the ranking of Business Week magazine, out of 100 companies in the IT field, 75 are from the United States, and in the top twenty there are 17 “Americans,” including Apple, Microsoft, IBM, Adobe and others.
According to statistics, during the US American Football Championship, the average American spends 10 minutes a day discussing matches during work hours. Damage amounts to more than $800 million.
The first skyscraper in the world appeared in 1885 in Chicago. As of 2011, only 4 of the 25 tallest buildings on the planet are located in the United States
In the USA, children of rich parents do not live off their money, but try to build their own careers, relying only on their education and the connections acquired during their studies.
2. China
A few facts
GDP US$7,298,147
Capital Beijing
Population 1,347,374,752 people
Year of foundation 1949 (PRC)
Territory 9,596,960 km2
China at the beginning of the 21st century- a space and nuclear power, which by 2020, according to the plan of the Chinese Communist Party, should overtake the United States in terms of total GDP income. Exports provide 80% of China's government foreign exchange earnings. The country is a leader in the production of more than a hundred types of products, of which the most advanced are automotive and textiles.
The Chinese economy is the fastest growing in the world; its consistent growth rate is about 10% over the past 30 years. The country is also the largest exporter and second largest importer of goods. China's per capita GDP is $7,544. According to average expert estimates, in 8–10 years the absolute figures of China's GDP will catch up with and perhaps exceed those of the United States.
Provinces in China's coastal regions tend to be more industrialized than peripheral regions. By the way, the territories of Hong Kong and Macau are de facto independent and have special status. To visit them you need special permission.
The national currency is the yuan, which measures the value of Chinese “people’s money” Renminbi (RMB). The yuan exchange rate is set by the state, and it cannot be purchased abroad. 1 euro costs about 8 yuan, 1 yuan is a little more than 5 rubles. The Starbucks coffee chain in China is much more famous and stronger in various respects than the fast food restaurant McDonalds.
The population of China in 2012 was more than 1.3 billion people. According to average estimates, it will stop growing by 2030, when it will reach 1.465 billion.
Every year China hosts exhibitions of achievements in the field of high technology, the most famous of which is the Canton Fair in Guangzhou (CECF, Canton Fair). It is one of the most important events in the world of production and trade.
3. Japan
A few facts
GDP US$5,869,471
Capital Tokyo
Population 126,400,000 people
Year of foundation 660 BC e.
Territory 377,944 km2
By GDP size and industrial production volume Japan ranks 3rd after the USA and China. High technologies have been developed - electronics and robotics, as well as transport engineering, including automobile, shipbuilding, and machine tools. The fishing fleet makes up 15% of the world's. Agriculture is subsidized by the government, but 55% of food is imported.
For three decades from 1960, Japan experienced rapid economic growth, which was a consequence of the post-war “economic miracle”. The average rate was 10% in the 1960s, 5% in the 1970s and 4% in the 1980s.
Japan has a high degree of economic freedom: the government works closely with the manufacturer, stimulating its development. The main emphasis is on science and high technology. All this, as well as strict labor discipline, contribute to the rise of the Japanese economy.
A distinctive feature of the country is “keiretsu” - associations of manufacturers, suppliers, distributors around powerful banks, as well as relatively weak international competition in domestic markets. In addition, there are many more social than industrial agreements: for example, a guarantee of lifelong employment in large companies.
The country's three main banks - Mitsubishi UFJ Financial Group (MUFG), Mizuho and Sumitomo Mitsui Financial Group (SMFG) - are now overflowing with deposits.
Japan is the “robot capital” of the world. In terms of the number of industrial robots used, it is even ahead of the United States.
MUFG alone has 129 trillion yen ($1.6 trillion) in deposits and is the world's second-largest bank. The problem is that MUFG does not yet know how to manage this money.
4. Germany
A few facts
GDP US$3,577,031
Capital Berlin
Population 81,751,600 people
Year of foundation 1990
Territory 357,021 km2
Economy of Germany- the largest in Europe. The engine of foreign trade is industry, which makes up a large share of GDP. Agriculture and energy are also developed: the country is a confident leader in the production of wind and solar generators, information and biotechnologies. Germany is the world's second largest exporter: a third of national production goes abroad.
Germany has the leading economy in the European Union and is the main creditor for most European countries, including crisis-ridden Greece. Most of the country's products are related to technology: cars and equipment. The chemical industry is also widely developed. The largest German companies operating in these industries have their branches, research centers and production facilities around the world.
Among them are the famous automobile concerns Volkswagen, BMW, Daimler, chemical companies Bayer, BASF, Henkel Group, the Siemens conglomerate, energy companies E.ON and RWE or the Bosch group. Cities such as Hanover, Frankfurt and Berlin host the largest annual international exhibitions and congresses.
Germany is the leading manufacturer of wind turbines and the main developer of solar energy technologies in the world.
At the end of the 19th century, Great Britain, in an attempt to protect its market from second-rate imports, required that German goods be labeled “Made in Germany.”
Now Germany is experiencing a real “boom” in the automobile industry. It owes this to its key market – China.
However, after a couple of decades, the quality of goods from Germany improved so much that this marking turned into a sign of the highest standard.
5. France
A few facts
GDP US$2,776,324
Capital Paris
Population 65,447,374 people
Year of foundation 843 (Treaty of Verdun)
Territory 674,685 km2
France by total economy occupies leading positions in the EU and consistently ranks among the world's top ten. Leaders in mechanical engineering, chemical and aerospace industries. In terms of agricultural production it is ahead of Germany, and in terms of agricultural exports it is ahead of the United States. Traditionally, the share of wines in exports is high. A major tourism center: more than 75 million travelers visit France every year.
The French economy is the fifth largest in the world and the second largest in Europe (after its main partner, Germany). The country entered the 2008–2009 recession late and was able to exit earlier than most of its peers. From January to March 2011, French GDP growth was more dynamic than expected and amounted to 1%. One of the best indicators in Europe!
France is a nuclear power and one of the five permanent members of the UN Security Council, and it is the most visited country in the world. Paris can be called the tourist capital of the planet, and the Eiffel Tower is the most popular attraction on Earth. These facts automatically make France a champion of world tourism, which accounts for a large share of the state budget revenue. By the way, tips here are already included in your bill and amount to 15% of the order amount.
It is the most famous wine-producing country in the world. Wine was produced here even during the Roman invasion under the leadership of Julius Caesar. According to statistics, 72% of French people have difficulty understanding numerous wine brands.
Champagne was first produced in France in the 17th century. The drink was immediately nicknamed “devilish” - it exploded the barrels in which it was stored
The legendary Bordeaux alone has more than 9,000 varieties! The world's best liqueurs are also produced in France.
6. Brazil
A few facts
GDP US$2,476,908
Capital Brasilia
Population 189,987,291 people
Year of foundation 1822
Territory 8,514,877 km2
Brazil has the greatest economic potential among Latin American countries and produces a variety of products: from petroleum products, steel and consumer goods to computers, cars and aircraft. One of Brazil's main exports is coffee. The country is also a leader in the production of sugar cane, from which ethanol is produced.
Brazil operates one of the fastest-growing economies in the world, with its GDP growing at an average rate of more than 5% per year. The country still maintains a high level of social inequality, inherited from the days of long colonization by Portugal. However, it has declined in recent years.
The 1970s marked the beginning of the Brazilian “economic miracle.” It was at this time that a successful national program was initiated to replace gasoline with more environmentally friendly and cheaper ethanol. As part of it, the government also obliged the largest automobile concerns to assemble only those models that can run on ethanol.
Currently, more than a third of GDP is provided by agriculture. The most important fact: Brazilians own 46% of the world market for Arabica coffee - the best type of coffee. At the same time, this state is the most controversial in Latin America in terms of investment. All large companies, as a rule, are extremely monopolized, and management is carried out by closed groups with state participation. The country has a number of customs bans on imports, which makes it difficult to purchase household appliances.
You can get to Mount Corcovado, where the statue of Christ the Savior stands, by rail - a train with two carriages rushes up the jungle-tangled slopes
According to Forbes (2011), Brazil has the eighth largest number of billionaires in the world.
7. UK
A few facts
GDP US$2,417,570
Capital London
Population e 62,698,362 people.
Year of foundation 1801
Territory 243,809 km2
Main export items– mechanical engineering, industrial goods and chemicals. The industrial corporation British Petroleum, which ranks 2nd in Europe in the ranking of the largest, allows you to save on the import of petroleum products and generates significant profits. The UK is also the world's second largest exporter of white clay, from which porcelain is made.
Many historians are inclined to believe that if Russia had passed the Great October Revolution, the country would have developed along the path of Great Britain. Today Britain is one of the most globalized countries in the world. London, along with New York, is the world's largest financial center and has the largest GDP of any city in Europe.
The pharmaceutical industry and oil production play an important role in the British economy - the country has oil and gas reserves in the North Sea worth about £250 billion. Britain carries out 10% of the world's exports of services - banking, insurance, brokerage, consulting, as well as in the field of computer programming. The country is currently ranked 4th in the world (and 1st in Europe) in the World Bank's Ease of Doing Business Index.
The United Kingdom's National Health Service is the third largest employer in the world after the Chinese Red Army and the Indian Railways.
According to tradition established at the beginning of the twentieth century, the birthday of the monarch is celebrated in Great Britain on one of the Saturdays in June - regardless of the actual date
Despite the deep integration (including economic) of all countries of the Kingdom, you will be refused if you wish to pay in Scottish pounds in shops in England, Wales or Northern Ireland. Most Britons don't even know what this money looks like!
8. Italy
A few facts
GDP US$2,198,730
Capital Rome
Population 56,995,744 people
Year of foundation 1946
Territory 301,340, with islands 309,547 km2
Italy is a global supplier household appliances, one of the leaders in the automotive and industrial equipment industries. Exporter of food products: cheese, pasta, wine, olive oil, canned fruit and vegetables, as well as ready-made clothing and leather shoes. However, Italy has few natural resources and imports most raw materials and more than 80% of energy.
After World War II, Italy went through a long journey of significant economic transformation: starting from a total lag, it achieved a developed industrial economy. Per capita income was three times less than in the United States during the same period. Almost half of the country (42.2%) was employed in agriculture. At the moment, according to the IMF and the World Bank, Italy's economy is the eighth in the world and the fourth in Europe in terms of nominal GDP, as well as the tenth in the world and fifth in Europe in terms of GDP calculated by PPP.
Italy is significantly focused on foreign trade. Many of its food products are famous all over the world. Thus, legendary Italian wines, cheeses, and pizza are exported. Almost all products are marked with a special DOC mark (Denominazione di origine controllata), which is a designation of the highest quality - this helps foreign consumers to “weed out” simply similar products (for example, German Gambozola cheese is an imitation of Italian Gorgonzola).
Italian fashion houses Versace, Gucci, Prada, Cavalli, Dolce & Gabbana, Armani and others have become widely known.
The Italian sports car Ferrari 250 GTO of 1962, sold in 2012 for $35 million, acquired the status of the most expensive car.
Car enthusiasts are well familiar with the names of Italian car brands: Ferrari, Maserati and Lamborghini.
9. Russia
A few facts
GDP US$1,850,401
Capital Moscow
Population 143,030,106 people
Year of foundation 862 (beginning of Russian statehood)
Territory 17,098,246 km2
Russian economy characterized by significant dependence on energy prices. According to the Federal State Statistics Service, 65.9% of Russia's exports consist of mineral raw materials. The remaining share includes metals and precious stones (16.3%), chemical products, machinery and equipment.
Russia is historically rich in intellectual resources. Unfortunately, most of them realize their potential in the West. For example, the founder of the Max Factor company was Maximilian Faktorovich, who opened his first store in Ryazan and emigrated in 1904. It is also worth remembering Google founder Sergei Brin and Daimler engineer Boris Lutsky.
Thanks to economic reforms in the 1990s, Russia privatized most industrial assets, with the exception of energy and defense enterprises. The country's main problem is its heavy dependence on energy resources, in particular oil and gas. The stock market is also on the path of its formation and is assessed by many as speculative. By the way, since 2011, Moscow has had the highest concentration of billionaires in the world.
According to the calculations of the consulting giant PricewaterhouseCoopers, by 2014 Russia will overtake Germany in terms of GDP and enter the top five countries.
Negotiations on Russia's accession to the WTO began in 1995, and the accession itself will take place in September 2012
A large influx of foreign investment and a new stage in economic development, according to experts, should follow in the near future - they are associated with world-scale sporting events: the Sochi Olympics in 2014 and the FIFA World Cup in 2018.
10. India
A few facts
GDP US$1,430,020
Capital New Delhi
Population 1,210,193,422 people
Founded 1950 (full independence from Great Britain)
Territory 3,287,590 km2
Economy of India covers all sectors: from agricultural production to industry. 67% of the working population is directly dependent on agriculture, which accounts for a third of GDP. India is the largest tea exporter and has the world's largest cattle population. At the same time, the defense, nuclear and space industries are highly developed
In the 17th century, India was the richest country in the world - until the arrival of colonialists from Great Britain. The Dutch, Danes, French, Portuguese and other peoples fought to gain trading privileges here. The country is the birthplace of algebra, trigonometry and chess. Now India is a vibrant and diverse state, its economy is increasingly integrated with the world.
The economic reforms carried out in the country since 1990 have had far-reaching consequences. General Electric Capital considers this country unique, PepsiCo finds it the fastest growing, and Motorola is confident that India is becoming one of the leading powers on the planet. Currently, the state is dynamically ascending to the position of a world leader in the IT sector.
One of the main advantages of India is high qualifications and relatively low labor costs, which are actively used by transnational corporations. India is now in 4th place in the world in terms of GDP at purchasing power parity, and in 2050 its volume will overtake the US.
The Taj Mahal monument-mausoleum is a symbol of the tender love of King Shah Jahan for his beautiful wife Mumtaz Mahal
Despite rapid economic growth, India continues to face problems of social inequality and high unemployment.
Text by Dmitry Zolotavin, financial consultant at A-Club in Tyumen, Alfa-Bank