Visualising the global economy in one table

The U.S. has the biggest economy in terms of GDP (nominal) in 2022. But China has the largest economy with a GDP (PPP) of USD30.074 trillion for the year 2022. According to the International Monetary Fund (IMF), China's GDP is expected to grow 5.2% in 2023, while the U.S. is expected to grow 1.6%. So China will pull further ahead.

GDP (PPP) means gross domestic product based on purchasing power parity.

GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita income. It is however limited when measuring financial flows between countries and when comparing the quality of same goods among countries.