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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

"CEOWorld" Reveals List of Leading Economies in 2024


Mon 08 Jul 2024 | 05:45 AM
Taarek Refaat

The “CEO World” magazine 2024 ranking of the world's largest economies by GDP reveals some interesting insights into global economic dynamics.

1) United States $28.78 trillion

The United States retained its position as the world's leading economy with a GDP of $28.78 trillion. This dominance is based on technological progress, strong consumer spending, and a competitive labor market despite concerns about inflation, according to what was reported by “CEO World” magazine.

2) China $18.54 trillion

China came in second place with a gross domestic product of $18.54 trillion. The country overcame challenges such as the COVID-19 pandemic and trade tensions by focusing on increasing domestic spending, which helped alleviate some of the economic difficulties.

3) Germany $4.59 trillion

Germany, with a GDP of $4.59 trillion, has confirmed its position as an economic power in Europe. The country continues to leverage its manufacturing prowess and strong export sector while dealing with energy supply challenges stemming from the Russia-Ukraine conflict.

4) Japan $4.11 trillion

Japan, with a GDP of $4.11 trillion, showed renewed economic activity, driven by boosting productivity and consumer spending in the wake of the 2020 Tokyo Olympics.

5) India $3.94 trillion

While India has emerged as one of the fastest growing economies, with a GDP reaching $3.94 trillion. The nation's rise is driven by a young, skilled workforce, a thriving technology sector, and ongoing reforms and investments in infrastructure.

5) UK $3.50 trillion

6) France $3.13 trillion

7Brazil $2.33 trillion

9) Italy $2.33 trillion

10Canada $2.24 trillion

Following these leading economies are the United Kingdom ($3.50 trillion), France ($3.13 trillion), Brazil ($2.33 trillion), Italy ($2.33 trillion), and Canada ($2.24 trillion). Each of these countries has demonstrated varying degrees of growth and economic stability in recent years.

Russia was not mentioned in the ranking, however it stands as the 8th strongest economies in the world based on GDP with $2.24 trillion.

8) Russia $2.24 trillion

12) Australia: $1.69 trillion

13) South Korea: $1.67 trillion

14) Mexico: $1.46 trillion

15) Spain: $1.41 trillion