Largest Economies in the World

Bangalore: If we compare the largest economies in measures of the gross domestic product (GDP) at purchasing power of parity (PPP), then in the first position stands United States of America and on the second position is China. But it seems that in few years China will overtake U.S.A looking at their rapid growth. Here’s the list of the world’s largest economies in 2012.

United States

United States comprises fifty states and a federal district and is known as the federal constitutional republic. It is the third largest by both land area and population and one of the world’s most ethnically diverse and multicultural nations. It has a capitalist mixed economy; it is the largest importer of goods and the third largest exporter. It is the world’s largest national economy with the estimated GDP at PPP as $14.66 trillion until 2010. The contribution of the industrial sector in the GDP is 22.1 percent, the agricultural sector in GDP is 1.1 percent and the service sector in GDP is 76.8 percent. Their population that was recorded in 2011 was 312,222,000 and the unemployment rate is 9.6 percent.