CEOWORLD studied the world’s strongest economies by looking at GDP, GDP per capita, and export data. If you want to avoid reading the article about global economic dynamics and trends for the future, you can go directly to the list of the world’s largest economies in 2023. The movements of macroeconomic indicators can give us an insight into the current state of the market, as well as provide clues about what the future may hold in regard to global financial and trading activities.
The global economy is constantly evolving and changing, with new players emerging and existing players expanding their reach. The strength of an economy is crucial in determining its ability to generate wealth, provide a high standard of living for its citizens, and contribute to the global marketplace.
These economies are highly diversified, each with its own unique strengths and challenges. We will explore what makes these economies strong and how they contribute to the global marketplace. Each economy will be discussed in-depth, with insights about their unique strengths and challenges.
Top 20 Strongest Economies in The World in 2023
- Switzerland
GDP per capita: $92,101
Top 10 Exports:
Gems, precious metals: US$120.3 billion (29.9% of total exports)
Pharmaceuticals: $98.1 billion (24.4%)
Organic chemicals: $31 billion (7.7%)
Clocks, watches including parts: $26 billion (6.5%)
Machinery including computers: $24.3 billion (6%)
Optical, technical, medical apparatus: $19.2 billion (4.8%)
Electrical machinery, equipment: $14.1 billion (3.5%)
Mineral fuels including oil: $10.9 billion (2.7%)
Plastics, plastic articles: $6.3 billion (1.6%)
Perfumes, cosmetics: $4 billion (1%) - United States
GDP per capita: $76,399
Top 10 Exports:
Mineral fuels including oil: US$378.6 billion (18.4% of total exports)
Machinery including computers: $229.6 billion (11.1%)
Electrical machinery, equipment: $197.7 billion (9.6%)
Vehicles: $134.9 billion (6.5%)
Aircraft, spacecraft: $102.8 billion (5%)
Optical, technical, medical apparatus: $99.1 billion (4.8%)
Gems, precious metals: $92.5 billion (4.5%)
Pharmaceuticals: $83.5 billion (4%)
Plastics, plastic articles: $83.3 billion (4%)
Organic chemicals: $51.1 billion (2.5%) - Australia
GDP per capita: $64,491
Top 10 Exports:
Mineral fuels including oil: US$158.7 billion (39.6% of total exports)
Ores, slag, ash: $102.6 billion (25.6%)
Gems, precious metals: $19.4 billion (4.8%)
Cereals: $13.8 billion (3.4%)
Meat: $12 billion (3%)
Salt, sulphur, stone, cement: $8.5 billion (2.1%)
Inorganic chemicals: $7.2 billion (1.8%)
Oil seeds: $6.1 billion (1.5%)
Aluminum: $5.1 billion (1.3%)
Machinery including computers: $5 billion (1.2%) - Netherlands
GDP per capita: $55,985
Top 10 Exports:
Mineral fuels including oil: US$188.8 billion (19.6% of total exports)
Machinery including computers: $122.1 billion (12.6%)
Electrical machinery, equipment: $114.5 billion (11.9%)
Pharmaceuticals: $53.1 billion (5.5%)
Optical, technical, medical apparatus: $46.6 billion (4.8%)
Plastics, plastic articles: $35 billion (3.6%)
Vehicles: $31.8 billion (3.3%)
Organic chemicals: $26.7 billion (2.8%)
Other chemical goods: $24.1 billion (2.5%)
Iron, steel: $20.8 billion (2.2%) - Germany
GDP per capita: $48,432
Top 10 Exports:
Vehicles: US$257.5 billion (15.5% of total exports)
Machinery including computers: $253.3 billion (15.3%)
Electrical machinery, equipment: $176.6 billion (10.7%)
Pharmaceuticals: $124.2 billion (7.5%)
Optical, technical, medical apparatus: $78.7 billion (4.8%)
Plastics, plastic articles: $75.1 billion (4.5%)
Mineral fuels including oil: $61.8 billion (3.7%)
Iron, steel: $37.4 billion (2.3%)
Other chemical goods: $35.3 billion (2.1%)
Organic chemicals: $34.2 billion (2.1%) - United Kingdom
GDP per capita: $45,850
Top 10 Exports:
Gems, precious metals: US$96.2 billion (18.3% of total exports)
Machinery including computers: $74.9 billion (14.2%)
Mineral fuels including oil: $56.9 billion (10.8%)
Vehicles: $40.6 billion (7.7%)
Pharmaceuticals: $27.8 billion (5.3%)
Electrical machinery, equipment: $27.4 billion (5.2%)
Optical, technical, medical apparatus: $20.2 billion (3.8%)
Aircraft, spacecraft: $13.2 billion (2.5%)
Plastics, plastic articles: $13 billion (2.5%)
Organic chemicals: $12.6 billion (2.4%) - France
GDP per capita: $40,964
Top 10 Exports:
Machinery including computers: US$64.3 billion (10.6% of total exports)
Vehicles: $49.8 billion (8.2%)
Electrical machinery, equipment: $46.8 billion (7.7%)
Pharmaceuticals: $37.6 billion (6.2%)
Mineral fuels including oil: $33.8 billion (5.6%)
Aircraft, spacecraft: $32.7 billion (5.4%)
Plastics, plastic articles: $25.2 billion (4.2%)
Perfumes, cosmetics: $22.9 billion (3.8%)
Beverages, spirits, vinegar: $22 billion (3.6%)
Iron, steel: $19.2 billion (3.2%) - Italy
GDP per capita: $34,158
Top 10 Exports:
Machinery including computers: US$106.2 billion (16.2% of total exports)
Pharmaceuticals: $47.4 billion (7.2%)
Vehicles: $45.5 billion (6.9%)
Electrical machinery, equipment: $40.8 billion (6.2%)
Mineral fuels including oil: $33.7 billion (5.1%)
Plastics, plastic articles: $27.1 billion (4.1%)
Articles of iron or steel: $22.9 billion (3.5%)
Iron, steel: $21.2 billion (3.2%)
Gems, precious metals: $20.4 billion (3.1%)
Furniture, bedding, lighting, signs, prefabricated buildings: $16.1 billion (2.5%) - Japan
GDP per capita: $33,815
Top 10 Exports:
Machinery including computers: US$142 billion (19% of total exports)
Vehicles: $135.4 billion (18.1%)
Electrical machinery, equipment: $113.4 billion (15.2%)
Optical, technical, medical apparatus: $38.8 billion (5.2%)
Iron, steel: $35.1 billion (4.7%)
Plastics, plastic articles: $27 billion (3.6%)
Mineral fuels including oil: $18.2 billion (2.4%)
Gems, precious metals: $17.5 billion (2.3%)
Organic chemicals: $17.3 billion (2.3%)
Other chemical goods: $14.3 billion (1.9%) - South Korea
GDP per capita: $32,255
Top 10 Exports:
Electrical machinery, equipment: US$210.4 billion (30.8% of total exports)
Vehicles: $75.6 billion (11.1%)
Machinery including computers: $73 billion (10.7%)
Mineral fuels including oil: $64.8 billion (9.5%)
Plastics, plastic articles: $41.2 billion (6%)
Iron, steel: $28.1 billion (4.1%)
Organic chemicals: $24.7 billion (3.6%)
Optical, technical, medical apparatus: $18.2 billion (2.7%)
Ships, boats: $17.1 billion (2.5%)
Inorganic chemicals: $15.6 billion (2.3%) - Saudi Arabia
GDP per capita: $30,436
Top 10 Exports:
Mineral fuels including oil: US$268.5 billion (83.8% of total exports)
Plastics, plastic articles: $19.6 billion (6.1%)
Organic chemicals: $14 billion (4.4%)
Fertilizers: $4 billion (1.3%)
Aluminum: $2.3 billion (0.7%)
Inorganic chemicals: $1.75 billion (0.5%)
Gems, precious metals: $1.4 billion (0.4%)
Salt, sulphur, stone, cement: $1.1 billion (0.3%)
Copper: $977.2 million (0.3%)
Rubber, rubber articles: $839.1 million (0.3%) - Spain
GDP per capita: $29,350
Top 10 Exports:
Vehicles: US$52.9 billion (12.6% of total exports)
Mineral fuels including oil: $39.7 billion (9.5%)
Pharmaceuticals: $28.2 billion (6.7%)
Machinery including computers: $27.2 billion (6.5%)
Electrical machinery, equipment: $21.3 billion (5.1%)
Plastics, plastic articles: $16.7 billion (4%)
Iron, steel: $11.4 billion (2.7%)
Fruits, nuts: $10.8 billion (2.6%)
Articles of iron or steel: $10.4 billion (2.5%)
Meat: $10.3 billion (2.5%) - Russia
GDP per capita: $15,345
Top 10 Exports:
Mineral fuels including oil: US$348.3 billion (69.5% of total exports)
Iron, steel: $21.5 billion (4.3%)
Fertilizers: $17.4 billion (3.5%)
Gems, precious metals: $16.9 billion (3.4%)
Aluminum: $10 billion (2%)
Wood: $8.6 billion (1.7%)
Fish: $7.8 billion (1.6%)
Cereals: $7.24 billion (1.4%)
Copper: $7.16 billion (1.4%)
Inorganic chemicals: $5.8 billion (1.2%) - China
GDP per capita: $12,720
Top 10 Exports:
Electrical machinery, equipment: US$954.8 billion (26.6% of total exports)
Machinery including computers: $552 billion (15.4%)
Vehicles: $150.2 billion (4.2%)
Plastics, plastic articles: $143.5 billion (4%)
Furniture, bedding, lighting, signs, prefabricated buildings: $130.9 billion (3.6%)
Articles of iron or steel: $110.3 billion (3.1%)
Toys, games: $103.3 billion (2.9%)
Organic chemicals: $101.9 billion (2.8%)
Knit or crochet clothing, accessories: $90.9 billion (2.5%)
Iron, steel: $77.3 billion (2.2%) - Türkiye
GDP per capita: $10,616
Top 10 Exports:
Vehicles: US$26.8 billion (10.5% of total exports)
Machinery including computers: $22.7 billion (8.9%)
Mineral fuels including oil: $16.4 billion (6.4%)
Iron, steel: $14.6 billion (5.8%)
Electrical machinery equipment: $13.7 billion (5.4%)
Plastics, plastic articles: $11.6 billion (4.6%)
Knit or crochet clothing, and accessories: $11 billion (4.3%)
Articles of iron or steel: $10.5 billion (4.1%)
Gems, precious metals: $10.2 billion (4%)
Clothing, accessories (not knit or crochet): $8.5 billion (3.3%) - Brazil
GDP per capita: $8,918
Top 10 Exports:
Mineral fuels, including oil: US$56.9 billion (17% of total exports)
Oil seeds: $47.2 billion (14.1%)
Ores, slag, ash: $32.4 billion (9.7%)
Meat: $24 billion (7.2%)
Iron, steel: $16.7 billion (5%)
Cereals: $13.9 billion (4.2%)
Machinery, including computers: $12.44 billion (3.7%)
Vehicles: $12.39 billion (3.7%)
Sugar, sugar confectionery: $11.24 billion (3.4%)
Food industry waste, animal fodder: $11.15 billion (3.3%) - Indonesia
GDP per capita: $4,788
Top 10 Exports:
Mineral fuels, including oil: US$71 billion (24.3% of total exports)
Animal/vegetable fats, oils, waxes: $35.2 billion (12.1%)
Iron, steel: $27.8 billion (9.5%)
Electrical machinery equipment: $14.6 billion (5%)
Vehicles: $11 billion (3.8%)
Ores, slag, ash: $10.3 billion (3.5%)
Other chemical goods: $8.5 billion (2.9%)
Footwear: $7.7 billion (2.7%)
Machinery, including computers: $7 billion (2.4%)
Rubber, rubber articles: $6.4 billion (2.2%) - India
GDP per capita: $2,389
Top 10 Exports:
Mineral fuels, including oil: US$42.6 billion (11.8% of total exports)
Gems, precious metals: $39.7 billion (11%)
Organic chemicals: $25.1 billion (7%)
Machinery, including computers: $24.6 billion (6.8%)
Electrical machinery equipment: $22.9 billion (6.4%)
Pharmaceuticals: $20.7 billion (5.8%)
Vehicles: $17.1 billion (4.8%)
Iron, steel: $13.8 billion (3.8%)
Aluminum: $10.2 billion (2.8%)
Articles of iron or steel: $9 billion (2.5%)
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