The largest economies in the world by purchasing power
Measured by purchasing power, China overtakes the United States. Watch India climb into third.
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What the data shows
- In 2025, China ranks #1 with $41.3T, ahead of United States ($30.8T) and India ($17.2T).
- Back in 1990, United States was #1 with $6.0T.
- The top spot changed hands once: China in 2014.
- Biggest climber: Indonesia, from #12 in 1990 to #7 in 2025.
About this chart
Purchasing power parity converts each economy at the prices people actually pay at home rather than at market exchange rates. Because goods and services cost less in China and India than in the US, their economies look much bigger by this measure.
Both views are legitimate. Market exchange rates matter for trade and debt; PPP is better for comparing how much an economy actually produces and consumes. The market-rate ranking is in the China vs US GDP chart.
The data
Source: World Bank, World Development Indicators (NY.GDP.MKTP.PP.CD), current international $ trillions, PPP. Retrieved November 3, 2026.
| Date | 🇨🇳 China | 🇺🇸 United States | 🇮🇳 India | 🇷🇺 Russia | 🇯🇵 Japan | 🇩🇪 Germany | 🇮🇩 Indonesia | 🇧🇷 Brazil | 🇬🇧 United Kingdom | 🇫🇷 France | 🇮🇹 Italy | 🇲🇽 Mexico |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1990 | $1.1T | $6.0T | $1.0T | $1.2T | $2.5T | $1.6T | $0.6T | $1.0T | $0.9T | $1.0T | $1.1T | $0.7T |
| 1991 | $1.3T | $6.2T | $1.1T | $1.2T | $2.7T | $1.7T | $0.6T | $1.0T | $1.0T | $1.1T | $1.1T | $0.8T |
| 1992 | $1.5T | $6.5T | $1.2T | $1.0T | $2.8T | $1.8T | $0.7T | $1.1T | $1.0T | $1.1T | $1.2T | $0.8T |
| 1993 | $1.7T | $6.9T | $1.2T | $1.0T | $2.8T | $1.8T | $0.7T | $1.1T | $1.1T | $1.1T | $1.2T | $0.8T |
| 1994 | $2.0T | $7.3T | $1.3T | $0.9T | $2.9T | $1.9T | $0.8T | $1.2T | $1.1T | $1.2T | $1.2T | $0.8T |
| 1995 | $2.3T | $7.6T | $1.5T | $0.8T | $3.0T | $1.9T | $0.9T | $1.3T | $1.2T | $1.2T | $1.3T | $0.8T |
| 1996 | $2.5T | $8.1T | $1.6T | $0.8T | $3.2T | $2.0T | $1.0T | $1.4T | $1.3T | $1.3T | $1.3T | $0.9T |
| 1997 | $2.8T | $8.6T | $1.7T | $0.8T | $3.3T | $2.0T | $1.0T | $1.4T | $1.4T | $1.3T | $1.4T | $1.0T |
| 1998 | $3.1T | $9.1T | $1.8T | $0.8T | $3.3T | $2.1T | $0.9T | $1.5T | $1.4T | $1.4T | $1.4T | $1.0T |
| 1999 | $3.4T | $9.6T | $2.0T | $0.9T | $3.3T | $2.2T | $0.9T | $1.5T | $1.4T | $1.5T | $1.5T | $1.1T |
| 2000 | $3.7T | $10.3T | $2.2T | $1.0T | $3.5T | $2.3T | $1.0T | $1.6T | $1.6T | $1.6T | $1.6T | $1.2T |
| 2001 | $4.1T | $10.6T | $2.3T | $1.1T | $3.6T | $2.4T | $1.1T | $1.6T | $1.7T | $1.7T | $1.6T | $1.2T |
| 2002 | $4.6T | $10.9T | $2.4T | $1.2T | $3.7T | $2.4T | $1.1T | $1.7T | $1.7T | $1.8T | $1.7T | $1.2T |
| 2003 | $5.2T | $11.5T | $2.7T | $1.3T | $3.8T | $2.5T | $1.2T | $1.8T | $1.8T | $1.7T | $1.7T | $1.2T |
| 2004 | $5.8T | $12.2T | $3.0T | $1.5T | $4.0T | $2.6T | $1.3T | $1.9T | $1.9T | $1.8T | $1.7T | $1.3T |
| 2005 | $6.7T | $13.0T | $3.3T | $1.7T | $4.2T | $2.7T | $1.4T | $2.1T | $2.0T | $1.9T | $1.8T | $1.4T |
| 2006 | $7.8T | $13.8T | $3.7T | $2.1T | $4.3T | $2.9T | $1.5T | $2.2T | $2.1T | $2.1T | $1.9T | $1.6T |
| 2007 | $9.1T | $14.5T | $4.1T | $2.4T | $4.5T | $3.0T | $1.7T | $2.4T | $2.2T | $2.2T | $2.0T | $1.6T |
| 2008 | $10.2T | $14.8T | $4.3T | $2.9T | $4.6T | $3.2T | $1.8T | $2.6T | $2.3T | $2.3T | $2.1T | $1.7T |
| 2009 | $11.3T | $14.5T | $4.6T | $2.8T | $4.3T | $3.1T | $1.9T | $2.6T | $2.2T | $2.2T | $2.1T | $1.7T |
| 2010 | $12.6T | $15.1T | $5.1T | $2.9T | $4.6T | $3.3T | $2.1T | $2.8T | $2.3T | $2.3T | $2.1T | $1.8T |
| 2011 | $14.1T | $15.6T | $5.5T | $3.3T | $4.7T | $3.5T | $2.2T | $3.0T | $2.4T | $2.5T | $2.2T | $2.0T |
| 2012 | $15.5T | $16.3T | $6.0T | $3.5T | $4.9T | $3.6T | $2.4T | $3.0T | $2.5T | $2.5T | $2.2T | $2.1T |
| 2013 | $16.7T | $16.9T | $6.3T | $3.7T | $5.1T | $3.7T | $2.5T | $3.1T | $2.6T | $2.6T | $2.2T | $2.2T |
| 2014 | $17.8T | $17.6T | $6.6T | $3.8T | $5.1T | $3.9T | $2.6T | $3.2T | $2.7T | $2.7T | $2.2T | $2.3T |
| 2015 | $18.6T | $18.3T | $7.0T | $3.5T | $5.3T | $4.0T | $2.6T | $3.0T | $2.8T | $2.7T | $2.3T | $2.3T |
| 2016 | $19.7T | $18.8T | $7.6T | $3.5T | $5.3T | $4.3T | $2.7T | $2.9T | $2.9T | $2.9T | $2.4T | $2.5T |
| 2017 | $21.0T | $19.6T | $8.1T | $3.8T | $5.4T | $4.5T | $2.9T | $3.0T | $3.1T | $3.0T | $2.5T | $2.5T |
| 2018 | $22.9T | $20.7T | $9.0T | $4.2T | $5.5T | $4.7T | $3.1T | $3.2T | $3.2T | $3.1T | $2.6T | $2.6T |
| 2019 | $24.8T | $21.5T | $9.7T | $4.6T | $5.5T | $4.9T | $3.3T | $3.3T | $3.4T | $3.5T | $2.8T | $2.6T |
| 2020 | $25.8T | $21.4T | $9.5T | $4.7T | $5.5T | $4.9T | $3.2T | $3.4T | $3.3T | $3.4T | $2.6T | $2.5T |
| 2021 | $29.4T | $23.7T | $11.1T | $5.7T | $5.8T | $5.2T | $3.5T | $3.8T | $3.5T | $3.6T | $3.0T | $2.7T |
| 2022 | $32.5T | $26.1T | $12.7T | $6.0T | $6.2T | $5.8T | $4.0T | $4.2T | $4.1T | $3.9T | $3.4T | $3.0T |
| 2023 | $35.6T | $27.8T | $14.2T | $6.5T | $6.6T | $6.0T | $4.3T | $4.5T | $4.2T | $4.2T | $3.6T | $3.3T |
| 2024 | $38.2T | $29.3T | $15.6T | $7.0T | $6.7T | $6.2T | $4.7T | $4.7T | $4.4T | $4.3T | $3.7T | $3.4T |
| 2025 | $41.3T | $30.8T | $17.2T | $7.2T | $6.8T | $6.3T | $5.1T | $5.0T | $4.5T | $4.4T | $3.7T | $3.4T |
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Suggested caption: “By this measure, China's economy passed America's years ago.” Credit the source in your caption; it heads off the 'source?' comments.
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Frequently asked questions
Which country has the largest economy by PPP?
In 2025, China ranks #1 with $41.3T, followed by United States ($30.8T) and India ($17.2T). Source: World Bank, World Development Indicators (NY.GDP.MKTP.PP.CD), current international $ trillions, PPP.
Where does this data come from?
World Bank, World Development Indicators (NY.GDP.MKTP.PP.CD), current international $ trillions, PPP. Retrieved November 3, 2026. You can download the full table as a CSV from this page.
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