Trillion dollar club (macroeconomics)
The Trillion dollar club is an unofficial classification of the world's major economies with a gross domestic product (nominal GDP) of more than USD $1 trillion per year.[1][2]
The trillion dollar club currently includes the following countries: United States, Japan, Germany, France, Italy, United Kingdom, China, Spain, Canada, Brazil, India, Mexico, Russia, and Australia.
South Korea entered the trillion dollar club in 2007. However, its GDP fell below the $1 trillion USD mark the following year and as such it is not presently on the list. According to the IMF, the GDP values of Mexico and Australia have also fallen below the cutoff however other sources like the World Bank and CIA rank the GDP figures for these countries as above the requisite $1 trillion mark.
Africa and Antarctica are the only continents without countries included in the group.
Chronological order
- 1. United States (1970)[4][5]
- 2. Japan (1979)[5][6]
- 3. Germany (1987)[5][7]
- 4. France (1988)[5][7]
- 5. Italy (1990)[5][7]
- 6. United Kingdom (1994)[5][7]
- 7. China (1998)[5][7]
- 8. Spain (2004)[5][7]
- 9. Canada (2005)[5][7]
- 10. Brazil (2006)[5][7]
- 11. India (2007)[5][7]
- 11. Mexico (2007)[5][8]
- 11. Russia (2007)[5][7]
- 12. Australia (2008)[8]
All of the G8 and BRIC countries are currently $1 trillion economies in United States dollars. Since currency valuations can be subject to rapid change, a country could achieve the USD $1 trillion nominal GDP mark one year and then produce less than that in total goods and services the following year(s). The 2009 data used here are compiled according to the International Monetary Fund (IMF), Central Intelligence Agency (CIA), World Bank and Nationmaster values.
See also
References
- ^ Welcome to the Trillion Dollar Club - Forbes.com 26 April 2007
- ^ Indian joins the Trillion Dollar Club - The Hindu 27 April 2007
- ^ http://www.imf.org/external/pubs/ft/weo/2009/01/weodata/weorept.aspx?pr.x=65&pr.y=14&sy=1980&ey=2014&scsm=1&ssd=1&sort=country&ds=.&br=1&c=193%2C273%2C223%2C156%2C924%2C922%2C184%2C132%2C134%2C534%2C136%2C112%2C158%2C111%2C542&s=NGDPD&grp=0&a=
- ^ http://www.nationmaster.com/graph/eco_gdp-economy-gdp&date=1970
- ^ a b c d e f g h i j k l m "Field Listing :: GDP (official exchange rate)". Central Intelligence Agency.
- ^ http://www.nationmaster.com/graph/eco_gdp-economy-gdp&date=1979
- ^ a b c d e f g h i j "Report for Selected Countries and Subjects". IMF. Retrieved 2009-10-31.
- ^ a b World Bank