New York City, sometimes referred to as “the city that never sleeps,” is one of the most famous cities in the world. Home to some of the most iconic landmarks, world-renowned business, financial and media centers, and a bustling nightlife and entertainment scene, New York City is one of the wealthiest and most economically powerful cities in the world. Its GDP was estimated to be at $1.3 trillion in 2019, making it one of the richest cities in the U.S. and potentially the world. Well, there are numerous countries whose GDPs are larger than New York City’s. In this article, we will discuss the countries with larger GDPs than New York City, and how they compare to the Big Apple.
What is GDP?
Before we dive into the countries with bigger GDPs than New York City, let’s first understand what a GDP is. GDP stands for gross domestic product and is the total value of all goods and services produced within a country in a given year. It is used to measure the economic output of an entire nation and its overall performance. It is the most commonly used measure of a country’s economic welfare; it reflects the size and prosperity of a nation’s economy on the world stage.
Top Countries With A Larger GDP Than New York City
The countries with higher GDPs than New York City are as follows:
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United States: $21.44 Trillion
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China: $14.14 Trillion
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Japan: $5.15 Trillion
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Germany: $3.86 Trillion
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India: $2.94 Trillion
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United Kingdom: $2.83 Trillion
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France: $2.71 Trillion
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Italy: $2.06 Trillion
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Brazil: $1.94 Trillion
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Canada: $1.70 Trillion
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South Korea: $1.63 Trillion
Comparing New York City to These Countries
It is impossible to compare New York City to countries like the United States, China, and Japan. The U.S., for example, is the world’s largest economy, with a GDP of $21.44 trillion, making it the Country with the largest GDP in the world and one that is significantly larger than the GDP of New York City. Meanwhile, China is the world’s second-largest economy (with a GDP of $14.14 trillion) and Japan ranks third with a GDP of $5.15 trillion.
In comparison, the United Kingdom’s GDP (at $2.83 trillion) is still more than twice the size of New York City’s GDP, and the GDP of countries like Germany, India, France, and Italy are all larger than the GDP of New York City. Even countries like Brazil, Canada, and South Korea have larger GDPs than New York City.
Growth Rate and Trends
The U.S. had the highest growth rate among the countries mentioned above in 2019, at 2.3%. China was second with 6.1%, followed by India and Japan. Germany had the smallest growth rate of 1.3%, while the United Kingdom had the second-highest rate at 1.4%.
Looking ahead, the International Monetary Fund (IMF) projects that the United States will remain the top economy in 2020, with a growth rate of 2.6%. China is expected to have the second-highest growth rate at 4.6%, while India is expected to have the third-highest at 3.4%. In addition, the IMF projects that the United Kingdom and Germany will have 1.1% and 1.7% growth rates, respectively.
New York City is one of the wealthiest and most economically powerful cities in the world, with its GDP estimated to be at $1.3 trillion in 2019. However, there are numerous countries with GDPs that are larger than New York City’s. The top countries in this list include the United States, China, Japan, Germany, India, the United Kingdom, France, Italy, Brazil, Canada, and South Korea. In addition, the U.S. has the highest growth rate among these countries, followed by China and India, while Germany has the lowest. This shows that New York City is still a major international powerhouse despite having a much smaller GDP when compared to major countries.
