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Countries With Highest GDP as a Percent of Continent

Name the countries that have the largest economies as a percent of the total economy of their continent.
2019 forecast by the IMF. Source
In U.S. dollars. Using the Purchasing Power Parity method
If a country is in two continents, we adjust the GDP accordingly
Last updated: March 08, 2019
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% of GDP
Country
84.3%
Australia
79.8%
United States
50.0%
Brazil
39.5%
China
19.5%
Egypt
17.0%
Nigeria
16.1%
India
% of GDP
Country
15.6%
Germany
13.1%
Argentina
12.8%
New Zealand
11.5%
Russia (European)
11.4%
South Africa
11.2%
Colombia
10.8%
United Kingdom
% of GDP
Country
10.6%
France
10.0%
Mexico
9.7%
Algeria
8.5%
Italy
8.2%
Japan
7.2%
Chile
7.1%
Canada
+2
level ∞
Oct 19, 2016
My guess is that Venezuela will fall off this list with newer GDP estimates.
+6
level 75
Dec 21, 2016
I didn't even try it, not realizing it was last year's data.
+1
level 58
Dec 22, 2016
Only missed Venezuela,... and as all the comments suggested already, I purposefully did not even bother typing it.
+2
level 69
Oct 19, 2016
Didn't even bother trying Venezuela once Argentina didn't work. I now see the World Bank doesn't list data for Argentina. According to the IMF and CIA World Factbook, Argentina's economy on a PPP basis is much larger than either Colombia or Venezuela. Although I am aware The Economist has frequently criticised the Argentine government for tampering with national statistics and I assume it's on this basis that the World Bank doesn't list them. That said, I seem to recall The Economist changing its stance now that the Kirchners have been booted from office, so perhaps it will be included in the next World Bank list.
+1
level 68
Oct 20, 2016
Perhaps another source would be appropriate since Argentina very obviously belongs on this list.
+1
level ∞
Oct 20, 2016
Fixed! I did use the IMF numbers to add Argentina to my spreadsheet, but then I forgot to add them to the quiz!
+1
level ∞
Oct 20, 2016
p.s. Canada is #21 at 7.0%
+1
level 24
Dec 21, 2016
Wait, is has more GDP than mexico. Right?
+2
level 75
Dec 21, 2016
Yes, quite a bit more. Canada's GDP is almost 50% larger than Mexico's. Per capita, obviously, it's even bigger. That's why you see Canada G8 summits. And yet another example of why it's silly and/or confusing to use PPP.
+1
level 65
Apr 22, 2019
I agree. The PPP method tends to create false positives for countries with higher populations but lower average incomes. High rankings for countries like China and India expose its flaws.
+1
level 75
Apr 22, 2019
When applied to total GDP, which was not what PPP was created for, it inflates numbers for countries with low cost of living and decreases numbers for more expensive countries. Those that like using it for GDP argue that currencies in these countries are unrealistically valued and that's why similar goods in each country can cost substantially different amounts. This isn't really a very good argument, though, as it ignores that while exchange rates do play a role in the cost of goods in different countries, it also has a lot to do with the cost of real estate; electricity; transportation; (importantly) labor costs; quality standards in goods, packaging, construction materials used in retail space, etc etc; and the fact that goods are priced to be competitive in the market they are sold in. A hamburger in Switzerland might seem similar to one in Cambodia, but if the Cambodian one is made of substandard materials, prepared by workers getting paid a slaves' wages,
+1
level 75
Apr 22, 2019
sold at a kiosk that would not pass health or safety standards in Switzerland, with a 90% smaller profit margin because those selling the burger know that the people in Cambodia can afford less.... then it's not the same burger. Figuring the size of both economies based on the number of burgers sold is going to give you misleading information at best.
+1
level 75
Apr 22, 2019
PPP is very useful when used as intended, to, for example, measure the differences in average wages for those living in poverty between country A and country B, or figuring out standards of living for people in a certain economic bracket in various countries.
+1
level 75
Apr 23, 2019
Osiris - it actually *is* useful for looking at standards of living when you divide it per capita. That's because most of the world's population lives in poverty, and as I mentioned PPP is useful for looking at how many goods an impoverished person trying to meet their basic needs can acquire from place to place. Japan's PPP GDP per capita is nearly 6x that of India's. A better way of looking at it would be average wages measured in PPP, though, as GDP can be influenced by a lot of things that don't necessarily impact wages or standards of living.
+1
level 65
Apr 23, 2019
Right- it can't give a proper comparison for standard of living. India's GDP is nearly double Japan's using the PPP method, but Indians on average spend nearly 30% of their income on food as compared to 13% in Japan. This frees up much more disposable income for residents of Japan to spend in other areas of the market. To me, there are far too many variables involved for purchasing power parity to give a clear picture of the true economic strength of a country. That said, there really isn't a perfect measure to cover all possible scenarios.
+1
level 53
Dec 21, 2016
Interesting. I doubt Venezuela adds much to the South American economic community, unlike Canada does for North America..
+6
level 51
Dec 21, 2016
Pfft, yeah, they only have the largest oil reserves of any country on earth.
+1
level 53
Dec 21, 2016
Does it make sense to use PPP for this?
+4
level 75
Dec 21, 2016
Not really, no. But almost all the quizzes on the site do, so it's being consistent. Quizmaster's prerogative.
+1
level 44
Dec 21, 2016
NOOOOOOOO! 19/20, FORGOT ALGERIA!
+1
level 46
Dec 22, 2016
I did exactly the same!!
+1
level 44
Dec 23, 2016
3rd try!
+1
level 40
Dec 13, 2017
Yaaay, 100% on my first try! :D It took me a while to guess New Zealand.
+1
level 60
Apr 23, 2019
It didn't take me long! (second guess after Australia).
+1
level 48
Mar 20, 2018
100% on first try with 2:29 remaining time :)
+1
level 38
Dec 23, 2018
nigeria..
+1
level 53
Feb 17, 2019
I wonder what makes up the other 16% of Australia's continent.
+2
level 53
Mar 9, 2019
Mostly New Zealand and overpriced tourist locations
+1
level 35
Mar 9, 2019
Yes! Got them all with 1:20 remaining at 11:07:42 AM on March 9, 2019! Chile was the last one that I guessed. The 5 points I earned from this quiz have put me at 1002 points-and Level 33!
+1
level 28
Mar 10, 2019
Interesting quiz. 20/20, though I never thought, the difference between New Zealand and Papua New Guinea is so massive. I supposed both of them to be here for Oceania.
+1
level 39
Mar 10, 2019
Sigh: I got 19/20, missing something obvious: Japan
+1
level 65
Mar 10, 2019
Somewhat surprised that 3 countries make up 97% of North America
+1
level 77
Mar 11, 2019
Why? The same three countries have about the same percentage for nearly every category in North America. Although the Caribbean nations do have better weather - if you don't count hurricanes.
+1
level 75
Apr 23, 2019
Mexico - huge population
Canada - highly developed
USA - both, moreso
every other country in North America - neither
+2
level 66
Mar 17, 2019
Very fun quiz.
+1
level 62
Apr 22, 2019
Finally! Australia comes first in something...
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