Largest
economies in the world based on purchasing power parity (PPP) GDP in 2023,
grouped by BRICS countries, G7 countries, and other major economies:
BRICS countries
·
China ($31.5 trillion)
·
India ($15.9 trillion)
·
Brazil ($3.1 trillion)
·
Russia ($5.5 trillion)
·
South Africa ($3.0
trillion)
G7 countries
·
United States ($23.1
trillion)
·
Japan ($5.7 trillion)
·
Germany ($2.9 trillion)
·
United Kingdom ($3.0
trillion)
·
France ($3.0 trillion)
·
Canada ($2.2 trillion)
Other major economies
·
Indonesia ($3.2 trillion)
·
Mexico ($2.1 trillion)
·
Turkey ($2.0 trillion)
·
South Korea ($2.0 trillion)
·
Italy ($2.0 trillion)
·
Spain ($1.9 trillion)
As you can see, the BRICS
countries are all major economies, with China being the largest economy in the
world based on PPP GDP. The G7 countries are also major economies, with the
United States being the largest economy in the world. The other major economies
listed above are also important players in the global economy.
It is worth noting that the size
of an economy based on PPP GDP is not always a good indicator of its overall
strength. For example, China has the largest economy in the world based on PPP
GDP, but it also has a large population and a relatively low per capita GDP.
This means that the average person in China is not as wealthy as the average
person in the United States, even though China's economy is larger.
Ultimately, the size of an
economy is just one factor to consider when assessing its strength. Other
factors, such as the quality of its institutions, the level of its education,
and the health of its population, are also important.