The Most Popular Economy: Ranking the Nations' Economic Appeal

Choose the economy you think is the most popular!

Author: Gregor Krambs
Updated on Feb 28, 2024 06:02
Welcome to StrawPoll, where your opinions shape the future! Are you ready to cast your vote in our latest ranking of the most popular economies? From the bustling free-market systems to the intricate social democracies, we've gathered the world's top economic models for you to choose from. But wait, there's more! Not only can you vote for your favorite, but if you think we've missed a crucial contender, go ahead and suggest it to be added to the list! Join thousands of others in this exciting conversation and let your voice be heard. Dive into the world of economics, explore the merits of various systems, and help us determine which economy reigns supreme. It's time to make your mark, so don't miss out on this thrilling opportunity to be a part of the ultimate economic showdown—only on StrawPoll!

What Is the Most Popular Economy?

  1. 1
    44
    votes
    The US economy is the largest and most influential in the world. It is a mixed economy that combines elements of capitalism and socialism. The US economy is driven by consumer spending, government spending, and private investment.
    The United States Economy is one of the largest and most developed economies in the world. It operates mainly under a market-oriented capitalist system, driven by private individuals and businesses. The government plays a significant role in regulating and overseeing economic activities, ensuring fair competition, and providing essential services. The economy of the United States is known for its innovation, productivity, and diversity.
    • Gross Domestic Product (GDP): The United States has the largest nominal GDP globally, reaching around $21.43 trillion in 2019.
    • Employment Rate: The United States has a dynamic labor market, with an employment rate of approximately 59.9% in 2020.
    • Diversified Sectors: The U.S. economy encompasses various sectors, including technology, finance, manufacturing, healthcare, entertainment, and agriculture.
    • Level of Innovation: The United States fosters an environment conducive to innovation, leading in technological advancements in fields such as Silicon Valley's tech sector.
    • Consumer Spending: With a large population and relatively high per capita incomes, consumer spending significantly drives economic growth in the United States.
  2. 2
    27
    votes
    The Chinese economy has experienced tremendous growth in recent decades and is now the second-largest economy in the world. It is a socialist market economy that is heavily influenced by the government. China is a major exporter of goods and services and is the largest trading partner of many countries.
    The Chinese Economy is the second-largest economy in the world and is a mixed socialist market economy. It is known for its rapid growth and transformation over the past few decades.
    • GDP: Approximately $14.34 trillion (USD)
    • GDP per capita: $10,262 (USD)
    • Growth rate: 6.1% (2019)
    • Industries: Manufacturing, technology, agriculture, services
    • Export goods: Electronics, machinery, apparel, accessories, vehicles
  3. 3
    10
    votes
    The Japanese economy is the third-largest in the world and is known for its highly developed manufacturing and technology industries. Japan is a major exporter of automobiles, electronics, and other goods. The Japanese economy is also heavily influenced by the government.
    The Japanese Economy refers to the economic system and activities in Japan. It is characterized by its unique blend of traditional practices and modern industrialization. The economy is one of the largest in the world and is known for its technological advancements, strong manufacturing sector, and efficient infrastructure.
    • Gross Domestic Product (GDP): 3rd largest in the world
    • Industrial sector: Dominance of automotive, electronics, and machinery industries
    • Export-oriented: Major exporter of automobiles, electronics, machinery, and chemicals
    • Highly skilled workforce: Strong emphasis on education and technical training
    • Innovation and technology: Global leader in research and development
  4. 4
    17
    votes
    The German economy is the fourth-largest in the world and is known for its highly developed manufacturing and engineering industries. Germany is a major exporter of automobiles, machinery, and chemicals. The German economy is also heavily influenced by the government.
    The German Economy is known for its strong industrial base and is one of the largest economies in the world. It is characterized by its emphasis on manufacturing, exports, and technological innovation. The German economy has a well-developed social market economy model, with a highly skilled labor force and a strong focus on vocational training.
    • Gross Domestic Product (GDP): €3.3 trillion (2019 est.)
    • GDP per capita: €39,500 (2019 est.)
    • Unemployment rate: 3.2% (2020)
    • Inflation rate: 0.5% (2020)
    • Export value: €1.4 trillion (2019 est.)
  5. 5
    18
    votes
    United Kingdom Economy
    Diego Delso · CC BY-SA 4.0

    United Kingdom Economy

    People of the United Kingdom
    The UK economy is the fifth-largest in the world and is known for its highly developed financial services industry. The UK is a major exporter of services, including financial services, tourism, and education. The UK economy is also heavily influenced by the government.
    The United Kingdom Economy is a mixed-market economy that is the fifth largest in the world by nominal GDP. It is a diverse and highly developed economy, with strong sectors in finance, manufacturing, services, and tourism. The economy of the United Kingdom is known for its global reach, competitive industries, and its capital, London, being a major financial hub.
    • GDP: 5th largest in the world
    • Sectors: Finance, manufacturing, services, and tourism
    • Competitive Industries: Finance, technology, automotive, aerospace, pharmaceuticals
    • Global Reach: International trade and investment
    • Financial Hub: London, the capital city
  6. 6
    11
    votes
    The Indian economy is the sixth-largest in the world and is known for its highly developed information technology industry. India is a major exporter of software and other services. The Indian economy is also heavily influenced by the government.
    The Indian Economy is the economic system of the Republic of India, the seventh-largest economy in the world by nominal GDP and the third-largest by purchasing power parity (PPP). It is a mixed economy, characterized by various public and private sector enterprises. India's economic growth has been remarkable in recent years, driven by sectors such as information technology, services, manufacturing, agriculture, and pharmaceuticals.
    • Government initiatives: Implemented policies like Make in India, Digital India, and Goods and Services Tax (GST)
    • GDP: 7th largest in the world by nominal GDP
    • PPP: 3rd largest in the world by purchasing power parity
    • Sector composition: Services, manufacturing, agriculture, information technology, and pharmaceuticals
    • Population: Approximately 1.3 billion people
  7. 7
    6
    votes

    French Economy

    Government of France
    The French economy is the seventh-largest in the world and is known for its highly developed tourism, agriculture, and luxury goods industries. France is a major exporter of wine, cheese, and other goods. The French economy is also heavily influenced by the government.
    The French Economy refers to the national economy of France, which is one of the largest economies in the world. It is known for its highly developed industrial and service sectors, vibrant agriculture, and extensive social security system. France is a member of the European Union and benefits from being part of the Eurozone, using the euro as its currency.
    • GDP per capita: Approximately $42,878 (USD)
    • GDP: Approximately $2.7 trillion (USD)
    • Main industries: Aerospace, automobile, luxury goods, pharmaceuticals, energy, tourism
    • Unemployment rate: Approximately 9.2% (as of 2021)
    • Inflation rate: Approximately 1.2% (as of 2021)
  8. 8
    0
    votes
    The Italian economy is the eighth-largest in the world and is known for its highly developed fashion, food, and tourism industries. Italy is a major exporter of luxury goods, including fashion, food, and wine. The Italian economy is also heavily influenced by the government.
    The Italian Economy refers to the economic system of Italy, a country located in Southern Europe. It is characterized by a diverse mix of industries and sectors, including manufacturing, tourism, services, agriculture, and finance. Italy is known for its rich cultural heritage, historical sites, fashion, and luxury goods, which contribute significantly to its economy.
    • GDP: Approximately $2 trillion
    • GDP per capita: Approximately $33,000
    • Main industries: Manufacturing, tourism, services, agriculture, finance
    • Exports: Machinery, motor vehicles, chemicals, fashion, food products
    • Import partners: Germany, France, China, Netherlands, Spain
  9. 9
    13
    votes

    Brazilian Economy

    Government of Brazil
    The Brazilian economy is the ninth-largest in the world and is known for its highly developed agricultural and mining industries. Brazil is a major exporter of commodities, including soybeans, coffee, and iron ore. The Brazilian economy is also heavily influenced by the government.
    The Brazilian Economy is the largest economy in South America and one of the most prominent emerging economies in the world. It is characterized by its diverse industrial sectors, rich natural resources, and a large consumer market.
    • Gross Domestic Product (GDP): Approximately $1.45 trillion (USD)
    • GDP Growth Rate: 1.1% (2018)
    • Inflation Rate: 3.7% (2020)
    • Unemployment Rate: 14.2% (2020)
    • Industrial Sector Contribution to GDP: Approximately 20%
  10. 10
    4
    votes

    Canadian Economy

    Government of Canada
    The Canadian economy is the tenth-largest in the world and is known for its highly developed natural resources industries, including oil, gas, and minerals. Canada is a major exporter of natural resources and manufactured goods, including automobiles and aerospace products. The Canadian economy is also heavily influenced by the government.
    The Canadian Economy is the economic system of Canada, which is the 10th largest economy in the world. It is known for its high standard of living, well-developed infrastructure, and strong resource-based industries.
    • GDP: CAD 1.95 trillion (2020)
    • GDP per capita: CAD 51,468 (2020)
    • Unemployment rate: 6.9% (March 2021)
    • Major industries: Natural resources, manufacturing, finance, technology, healthcare
    • Exports: CAD 585 billion (2020)

Missing your favorite economy?

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Ranking factors for popular economy

  1. Population
    The number of people living in a country can play a major role in the overall size of its economy. A larger population often leads to higher levels of consumption, which can drive economic growth.
  2. Purchasing Power Parity (PPP)
    PPP is a measure that compares the cost of living between different countries. It helps to determine the relative value of a currency and can be used as an indicator of the overall well-being of an economy.
  3. Per Capita Income
    This is the average income of a person in a particular country. It is calculated by dividing the total income of a country by its population. Per capita income is often used as an indicator of the standard of living in a country.
  4. Unemployment Rate
    The percentage of people in the labor force who are without jobs is an important factor to consider when evaluating an economy. A low unemployment rate generally indicates a healthy economy, while a high rate suggests issues like a sluggish job market or a mismatch between job seekers and available jobs.
  5. Inflation Rate
    The rate at which the general level of prices for goods and services is rising is an essential factor to consider. Controlled inflation is considered healthy for an economy, while high inflation rates lead to a decrease in purchasing power and may affect the overall economic stability.
  6. Trade Balance
    The difference between a country's total exports and imports determines its trade balance. A positive trade balance (more exports than imports) indicates that the country is generating wealth from other nations, while a negative balance signifies that more wealth is leaving the country than entering it.
  7. Foreign Direct Investment (FDI)
    The amount of investment a country receives from foreign entities can be an indicator of the attractiveness of its economy. High levels of FDI usually signal a competitive and growing economy that is attractive to foreign investors.
  8. Economic Growth Rate
    The rate at which a country's GDP grows is a significant factor when comparing different economies. Fast-growing economies are usually more attractive to investors and have more job opportunities, which can lead to higher living standards.
  9. Political Stability and Government Policies
    The overall stability of a country's political landscape and government policies can have a significant impact on its economy. Factors like corruption, political turmoil, or unfavorable business regulations can negatively affect an economy's attractiveness and growth prospects.

About this ranking

This is a community-based ranking of the most popular economy. We do our best to provide fair voting, but it is not intended to be exhaustive. So if you notice something or economy is missing, feel free to help improve the ranking!

Statistics

  • 1425 views
  • 150 votes
  • 10 ranked items

Voting Rules

A participant may cast an up or down vote for each economy once every 24 hours. The rank of each economy is then calculated from the weighted sum of all up and down votes.

More information on most popular economy

When it comes to discussing the most popular economy, it's important to understand that this can be a complex and multi-faceted topic. There are many factors that contribute to the strength and popularity of an economy, including things like GDP, unemployment rates, and the overall standard of living for its citizens. Some of the most commonly cited examples of popular economies around the world include those of the United States, China, Japan, and Germany. Each of these countries has its own unique strengths and challenges when it comes to their economic systems, and they are often compared and contrasted in order to gain a better understanding of what makes an economy successful. Ultimately, the answer to the question of what is the most popular economy will depend on a variety of factors and perspectives. However, by examining the key indicators of economic strength and growth, it's possible to gain a deeper understanding of what makes an economy successful and how different countries around the world are working to achieve this goal.

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