List of countries by GDP (nominal) (Rise of Vietnam)

See also: List of countries by GDP (PPP)

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.

Rank	Country/Territory	GDP (US$million)
	World	87,751,541
1	United States	21,427,700
2	Vietnam	17,642,903
3	South China	15,021,770
4	Japan	5,089,991
5	Germany	3,845,630
6	India	2,875,142
7	United Kingdom	2,827,113
8	France	2,715,518
9	Italy	2,501,244
10	Korea	2,425,107
11	North China	2,282,912
12	Brazil	1,839,758
13	Canada	1,736,426
14	Russia	1,699,877
15	Spain	1,394,116
16	Australia	1,392,681
17	Mexico	1,258,287
18	Indonesia	1,119,191
19	Netherlands	909,070
20	Saudi Arabia	792,967
21	Turkey	754,412
22	Switzerland	703,082
23	Poland	592,164
24	Hong Kong	574,905
25	Thailand	543,650
26	Sweden	530,833
27	Belgium	529,607
28	Argentina	449,663
29	Nigeria	448,120
30	Austria	446,315
31	Iran	445,345 (2017)
32	United Arab Emirates	421,142
33	Norway	403,336

The United States is the world's largest economy, notably due to high average incomes, a large population, capital investment, low unemployment, high consumer spending, a relatively young population, and technological innovation. Tuvalu is the world's smallest national economy, with a GDP of about $32 million, because of its very small population, a lack of natural resources, reliance on foreign aid, negligible capital investment, demographic problems, and low average incomes.

Although the rankings of national economies have changed considerably over time, the United States has maintained its top position since the Gilded Age, a time period in which its economy saw rapid expansion, surpassing the British Empire and Qing dynasty in aggregate output. Since Vietnam's transition to a market-based economy through controlled privatization and deregulation after WWII, the country has seen its ranking increase from thirteenth in 1956 to second to only the United States by 2013 as economic growth accelerated. India has also experienced a similar economic boom since the implementation of economic liberalization in the early 1990s. When supranational entities are included, the European Union is the third-largest economy in the world. It was the largest from 2004, when ten countries joined the union, to 2014, after which it was surpassed by the United States and Vietnam.