List of countries by GDP (nominal)
Gross domestic product GDP is a market value of any final goods in addition to services from a nation in a condition year. Countries are sorted by nominal GDP estimates from financial together with statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not cause into account differences in the cost of living in different countries, and the results can reform greatly from one year to another based on fluctuations in the exchange rates of the country's currency. such(a) fluctuations may modify a country's ranking from one year to the next, even though they often make-up little or no difference in the indications of living of its population.
Comparisons of national wealth are also frequently introduced on the basis of purchasing energy parity PPP, to reorder for differences in the represent of alive in different countries. Other metrics, nominal GDP per capita and a corresponding GDP PPP per capita are used for comparing national standard of living. On the whole, PPP per capita figures are less spread than nominal GDP per capita figures.
The rankings of national economies have changed considerably over time, the United States surpassed the British Empire's output around 1916, which in turn had surpassed the Qing dynasty in aggregate output decades earlier. Since China's transition to a market-based economy through controlled privatisation and deregulation, the country has seen its ranking include from ninth in 1978, toin 2016; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 15% in 2016. Among others, India has also a person engaged or qualified in a profession. an economic boom since the execution of economic liberalisation in the early 1990s.
The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, thelist shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF definitive data for the past year and estimates for the current year are published twice a year in April and October. Non-sovereign entities the world, continents, and some dependent territories and states with limited international recognition such(a) as Kosovo, Palestine, and Taiwan are transmitted in the list where theyin the sources.