World GDP Ranking 2015
According to the latest data from the International Monetary Fund (IMF), China has pulled further ahead from the USA to solidify its lead as the world’s number one economy with $19.5 trillion.
The USA is ranked 2nd with as much as $1.5 trillion.
India, the country that grew the most amongst large economies, came in 3rd place, with $8 trillion last year
After India comes Japan with $4.8tn, then Germany, $3.8tn.
Singapore is ranked 40th place with $469 Billion.
World Economic Outlook IMF Press Briefing
Global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, and 0.2 percentage point below the forecasts in the July 2015 World Economic Outlook (WEO) Update. Prospects across the main countries and regions remain uneven. Relative to last year, the recovery in advanced economies is expected to pick up slightly, while activity in emerging market and developing economies is projected to slow for the fifth year in a row, primarily reflecting weaker prospects for some large emerging market economies and oil-exporting countries. In an environment of declining commodity prices, reduced capital flows to emerging markets and pressure on their currencies, and increasing financial market volatility, downside risks to the outlook have risen, particularly for emerging market and developing economies.
World GDP Based On Purchasing Power Parity Valuation In Billions (2015)
GDP Based On PPP Valuation
Purchasing Power Parity
"A purchasing power parity between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries.
In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or “numeraire” currency." - Global Purchasing Power Parities and Real Expenditures, 2005 International Comparison Program, World Bank.