Countries by GDP, PPP (constant 2021 international $)

Ranking 2024

Analysis

This metric measures gross domestic product expressed in constant 2021 international dollars, converted using purchasing power parities. As the source note states: 'PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate-based comparisons.' Values are absolute totals, meaning larger countries with bigger populations tend to produce higher figures. The data comes from the World Bank World Development Indicators (indicator code NY.GDP.MKTP.PP.KD) for the year 2024. Coverage is strong: 199 countries are included, all with data from the last seven years, and 100 percent of datapoints are classified as official. Viability checks identified 29 extreme outliers at the 3-sigma threshold, and the average year-over-year change across the dataset is 4.7 percent.

The top of the ranking is heavily concentrated among large, populous economies. China (rank 1) leads at $33.6 trillion, followed by the United States (rank 2) at $25.7 trillion and India (rank 3) at $14.2 trillion. Russia ranks 4th at $6.1 trillion and Japan 5th at $5.7 trillion. The top 10 also includes Germany ($5.2 trillion), Brazil ($4.2 trillion), Indonesia ($4.1 trillion), France ($3.8 trillion), and the United Kingdom ($3.6 trillion). A notable feature of the top tier is that populous middle-income countries such as Brazil, Indonesia, and India rank well above some high-income but smaller economies, which is a direct effect of the PPP adjustment removing price-level distortions.

The middle of the ranking shows considerable diversity. Egypt (rank 18, $1.96 trillion) and Nigeria (rank 19, $1.86 trillion) place ahead of Poland (rank 20, $1.65 trillion) and Australia (rank 21, $1.64 trillion), reflecting the weight that large populations carry in total PPP-adjusted output. Singapore, a small high-income city-state, sits at rank 33 with $800 billion, while Uzbekistan (rank 56, $380 billion) narrowly trails Ethiopia (rank 55, $382 billion). At the lower end, Tuvalu (rank 199) records $57 million and Nauru (rank 198) $149 million, underscoring how small island states occupy a distinct tier far below continental economies.

Several limitations apply to this metric. PPP conversion factors are periodically rebased, and this dataset uses a 2021 base year, meaning comparisons across different base years can yield different results. Countries with less developed statistical systems may have lower data reliability, even though all 199 datapoints are classified as official here. The metric captures total national output but does not reflect distribution of income or per-capita well-being. Economies with large informal sectors, such as several African and South Asian countries, may have underreported GDP. The 2024 consistency check shows 188 of 199 countries (94.5 percent) have data from the latest year, meaning a small number of values may be estimated or extrapolated.

Methodology

Data source: World Bank World Development Indicators, indicator code NY.GDP.MKTP.PP.KD. Data year: 2024. Unit: absolute GDP value in constant 2021 international dollars. The source note defines the metric as follows: 'This indicator provides values for gross domestic product (GDP) expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate-based comparisons.' Coverage: 199 countries, all with data from within the last seven years; 100 percent of datapoints are classified as official. The viability check identified 29 extreme outliers using a 3-sigma threshold. The average year-over-year change is 4.7 percent, well within the 50 percent volatility threshold. Data consistency for the latest year (2024) stands at 94.5 percent (188 of 199 countries). The value range spans from $57,054,511 (Tuvalu, rank 199) to $33,597,882,047,419 (China, rank 1), a spread of approximately 58,887,237 percent. Higher values indicate larger total economic output on a PPP-adjusted basis.

Sources

• World Bank