Ranked: Largest economies in the world by Share of Global GDP (1980-2024)
The distribution of global GDP among the world’s largest economies has changed over time, reflecting shifts in economic policies, technological advancements, and demographic trends. Below is a table showing the world’s top six economies and their share of global GDP from 1980 to 2024. All figures were sourced from the IMF’s World Economic Outlook (April 2024 edition) and are based on using current prices.
The United States share of global GDP has experienced significant changes over the years. After dropping to 21.1% in 2011, the U.S. economy has recovered and is now estimated to make up 26.3% of global GDP in 2024, according to the IMF. This data indicates a strong recovery from the COVID-19 pandemic, especially when compared to China, the European Union, and Japan, all of which have seen declines in their shares of global GDP over the same period.
The report also provides insight into China’s rapid economic growth, which began in the early 2000s. It’s important to note that China joined the World Trade Organization (WTO) in 2001, a move that facilitated its integration into the global economy. Japan used to be the world’s second-largest economy after the U.S., accounting for 17.8% of the global economy in 1994 and 1995. However, economic stagnation and an aging population have led to a relative decline in the country’s economic power since then.
Largest economies in the world by Share of Global GDP
| Share of Global GDP (%) | U.S. | EU | China | Japan | UK | India |
|---|---|---|---|---|---|---|
| 1980 | 25.40% | 28.60% | 2.70% | 10.10% | 5.40% | 1.70% |
| 1981 | 27.80% | 24.70% | 2.50% | 10.80% | 5.10% | 1.70% |
| 1982 | 29.60% | 24.40% | 2.50% | 10.20% | 4.90% | 1.80% |
| 1983 | 31.30% | 23.20% | 2.60% | 10.90% | 4.60% | 1.90% |
| 1984 | 33.60% | 21.60% | 2.60% | 11.20% | 4.20% | 1.80% |
| 1985 | 34.60% | 21.30% | 2.50% | 11.40% | 4.30% | 1.90% |
| 1986 | 31.00% | 24.70% | 2.00% | 14.30% | 4.40% | 1.70% |
| 1987 | 28.50% | 26.30% | 1.90% | 15.20% | 4.80% | 1.60% |
| 1988 | 27.30% | 25.90% | 2.10% | 16.30% | 5.20% | 1.50% |
| 1989 | 28.00% | 25.00% | 2.30% | 15.40% | 5.00% | 1.50% |
| 1990 | 26.30% | 27.40% | 1.80% | 14.10% | 5.30% | 1.40% |
| 1991 | 26.00% | 28.00% | 1.70% | 15.40% | 5.30% | 1.10% |
| 1992 | 25.70% | 28.80% | 1.90% | 15.70% | 5.10% | 1.10% |
| 1993 | 26.30% | 25.60% | 2.40% | 17.40% | 4.40% | 1.10% |
| 1994 | 26.00% | 25.30% | 2.00% | 17.80% | 4.40% | 1.20% |
| 1995 | 24.50% | 26.50% | 2.30% | 17.80% | 4.30% | 1.20% |
| 1996 | 25.10% | 26.20% | 2.70% | 15.30% | 4.40% | 1.20% |
| 1997 | 26.80% | 24.10% | 3.00% | 14.00% | 4.90% | 1.30% |
| 1998 | 28.40% | 25.00% | 3.20% | 12.90% | 5.20% | 1.30% |
| 1999 | 29.20% | 24.00% | 3.30% | 14.00% | 5.10% | 1.40% |
| 2000 | 30.10% | 21.30% | 3.50% | 14.60% | 4.90% | 1.40% |
| 2001 | 31.30% | 21.80% | 3.90% | 12.90% | 4.90% | 1.40% |
| 2002 | 31.30% | 23.10% | 4.20% | 12.00% | 5.10% | 1.50% |
| 2003 | 29.20% | 25.30% | 4.20% | 11.50% | 5.20% | 1.50% |
| 2004 | 27.70% | 25.80% | 4.40% | 11.10% | 5.50% | 1.60% |
| 2005 | 27.20% | 24.90% | 4.80% | 10.10% | 5.30% | 1.70% |
| 2006 | 26.70% | 24.50% | 5.30% | 8.90% | 5.20% | 1.80% |
| 2007 | 24.70% | 25.20% | 6.10% | 7.80% | 5.30% | 2.10% |
| 2008 | 23.00% | 25.40% | 7.10% | 8.00% | 4.60% | 1.90% |
| 2009 | 23.80% | 24.30% | 8.40% | 8.70% | 4.00% | 2.20% |
| 2010 | 22.60% | 21.90% | 9.10% | 8.70% | 3.70% | 2.50% |
| 2011 | 21.10% | 21.30% | 10.10% | 8.40% | 3.60% | 2.50% |
| 2012 | 21.60% | 19.50% | 11.30% | 8.30% | 3.60% | 2.40% |
| 2013 | 21.80% | 19.70% | 12.40% | 6.70% | 3.60% | 2.40% |
| 2014 | 22.10% | 19.70% | 13.20% | 6.20% | 3.90% | 2.60% |
| 2015 | 24.40% | 18.00% | 14.80% | 5.90% | 3.90% | 2.80% |
| 2016 | 24.60% | 18.20% | 14.70% | 6.50% | 3.50% | 3.00% |
| 2017 | 24.10% | 18.20% | 15.10% | 6.10% | 3.30% | 3.30% |
| 2018 | 24.00% | 18.50% | 16.00% | 5.80% | 3.30% | 3.10% |
| 2019 | 24.60% | 17.90% | 16.40% | 5.80% | 3.30% | 3.20% |
| 2020 | 25.00% | 18.00% | 17.40% | 5.90% | 3.20% | 3.10% |
| 2021 | 24.30% | 17.90% | 18.30% | 5.20% | 3.20% | 3.30% |
| 2022 | 25.60% | 16.70% | 17.70% | 4.20% | 3.10% | 3.30% |
| 2023 | 26.10% | 17.50% | 16.90% | 4.00% | 3.20% | 3.40% |
| 2024 | 26.30% | 17.30% | 16.90% | 3.80% | 3.20% | 3.60% |
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