Here are 5 economies leading the international market. These countries were rated by their nominal gross-domestic products(GDP). A strong economy has a robust market, good for investments, and ideal for import and export.
According to a report by Investopedia, USA has continued to top the economies of the world since 1871. Many thanks to the country’s sophistication in technology, infrastructure and research. The USA has continued to record groundbreaking innovations in business and enterprise. With good strateging and branding, USA products are sort after world over.
USA is the world’s largest trading Nation in the world, as well as the world’s second largest manufacturer. The economy has the largest consumer in the world.
USA is home to many leading companies, such as Microsoft, Wal-Mart Stores, General Motors, Apple Inc, etc.
The leading industries in the economy are Aviation and aerospace, agriculture, entertainment and art, ICT and telecommunications , etc. Their major export includes machines, industrial supplies, consumer goods, food and beverages, etc.
The country has a 4.4% unemployment rate, 13.5% of the population live below the poverty line. The US dollar is the most traded currency in the forex market.
China is the second largest economy in the world,and the economy promises to overthrow the US economy as the leading economy in the world.
The Socialist market has maintained a strong growth of over 70% in recent years. It has become an industrial power house, moving beyond initial success in low-wage sectors like clothing and footwear to the increasingly sophisticated production of computers, Pharmaceuticals, and automobiles.
The main industries of the economy are mining, steel, aluminum, textiles, electronics, automobiles, etc.
China is a global hub for manufacturing, and is the largest manufacturing economy in the world, as well as the largest exporter of goods in the world.
The Chinese “Renminbi Yuan” stands strong against the dollar at an exchange rate of 0.15USD. The country has an inflation rate of 1.4%,and 5.1% of the population live below the poverty line and 4.1% of the population are unemployed.
Japan has the third largest economy in the world. Japan has the largest electronics goods industry in the world, is the world’s largest liquefied natural gas importer, second largest coal importer, and the third biggest producer of automobile in the world.
The main sectors of the economy are automobile industry, electronic equipment, ships, chemicals, textiles,and processed food.
The Japanese Yen stands at 0.01 against the USD. 15% of the population live below the poverty line and 3.4% are unemployed.
Germany is the fourth largest economy in the world and the leading economy in Europe. The economy is known for its export of machinery, vehicles, household equipments and chemicals.
The main sectors of the economy are iron and steel, coal and mineral fuels, automobile, space and aircraft, electronics, ICT, medical apparatus, etc.
Germany is the third largest exporter in the world, and the biggest capital exporter. The economy is mainly driven by the service industry.
Germany is the largest manufacturer in Europe. It is home to many of the world’s biggest Corporations such as Volkswagen, Siemens, BMW, etc. The rapid advance in industrialization led to a drastic shift in German economic situation, from a rural economy into a major exporter of finished goods.
Germany is a member of the European Union and uses the Euros as it’s currency. Germany has an inflation rate of 2.0%,16% of the population lives below the poverty line and has a 4.2% unemployment rate.
#The United Kingdom.
The United Kingdom is the world’s 5th largest economy. The main industries include aerospace, automobile, agriculture, education, Pharmaceuticals, construction, financial services, biotechnology, etc.
The United Kingdom is one of the most globalised economies in the world, being the 10th largest goods exporter and the 5th largest goods importer.
The service sector dominates the economy, contributing around 80% of the economy’s GDP.
The United Kingdom is notable for its financial services, with London being the world’s largest financial center.
In 2011, UK was the world’s most indebted country. It’s total debt stood at 497% of economy’s GDP, compared to 492% in Japan, 341% in France, 289% in the United States,and 284% in Germany.
The decision to leave the European Union impinged on the economy with the pound sterling falling to a 31-year low against the USD. The country has a 2.9% inflation rate, 4.5%unemployment rate and 15% of the population live below the poverty line.