Latest News by Industry
Which of the top 15 economies has the highest inflation rate? The world's eighth-largest Russian economy is the worst hit by price rise at 8.6%. China ranked second in terms of Gross Domestic Product (GDP), and has the least inflationary worries at 0.3% among the top 15 economies by size. The Indian economy, fifth in GDP, suffers from the second highest inflation rate at 6.21%, while the Italian economy, ranked 10th in size, has the second least inflation impact at 0.9%.
Here is a list of the top 15 economies in the order of their inflation rate:
Russia’s real GDP stands at $2.24 trillion, with a per capita GDP of about $15,000. The inflation rate is relatively high at 8.6%, and the Russian Ruble (RUB) is the national currency, exchanging at approximately 70 RUB per 1 USD. Russia maintains foreign exchange reserves of $600 billion and holds a substantial 2,300 tons of gold. Major exports include oil, gas, and metals, while the country imports machinery, vehicles, and pharmaceuticals. Russia’s economy is heavily reliant on natural resources, with energy exports contributing significantly to its GDP.
India has a real GDP of $3.41 trillion, with a per capita GDP of around $2,500. The inflation rate is relatively high at 6.21%, and the Indian Rupee (INR) is the currency, exchanging at about 83 INR per 1 USD. India’s foreign exchange reserves stand at $600 billion, with gold reserves totaling 760 tons. Major exports include petroleum products, gems, and machinery, while the primary imports are crude oil, gold, and machinery. India’s economy is diverse, with agriculture, manufacturing, and services as major sectors.
Mexico’s economy boasts a real GDP of $1.46 trillion, with a per capita GDP of approximately $11,000. The inflation rate is 4.76%, and the currency in use is the Mexican Peso (MXN), exchanging at about 18 MXN per 1 USD. The country has foreign exchange reserves of around $200 billion and gold reserves of 120 tons. Mexico’s major exports include vehicles, electronics, and oil, while its primary imports are machinery, vehicles, and electrical equipment. The economy is heavily reliant on manufacturing and trade, particularly with the United States as a key trading partner.
Brazil has a real GDP of $1.92 trillion and a per capita GDP of approximately $9,000. With an inflation rate of 4.76%, the Brazilian Real (BRL) is the currency, trading at around 5.3 BRL per 1 USD. The country’s foreign exchange reserves are valued at $300 billion, and it holds 130 tons of gold. Brazil’s key exports include soybeans, iron ore, and crude oil, while its main imports are machinery, electronics, and chemicals. Brazil’s economy is a mix of agriculture, mining, manufacturing, and service sectors, making it the largest economy in South America.
Japan has a real GDP of $4.25 trillion and a per capita GDP of around $34,000. The inflation rate is 2.5%, and the Japanese Yen (JPY) is the currency, trading at approximately 145 JPY per 1 USD. Japan holds foreign exchange reserves of $1.4 trillion and gold reserves of 765 tons. Major exports include vehicles, machinery, and electronics, while the main imports are oil, machinery, and pharmaceuticals. Japan has a highly developed economy with strong technology, automotive, and electronics industries.
Australia’s economy has a real GDP of $1.69 trillion and a high per capita GDP of around $66,000. The inflation rate is 2.8%, and the Australian Dollar (AUD) is the national currency, with an exchange rate of about 1.5 AUD per 1 USD. Australia holds $60 billion in foreign exchange reserves and approximately 80 tons of gold. Major exports include iron ore, coal, and gold, while machinery, vehicles, and oil are its main imports. Australia’s economy is resource-rich, with mining and agriculture playing crucial roles in its economic structure.
The United States has the world’s largest economy, with a real GDP of $25.43 trillion and a per capita GDP of approximately $76,000. The inflation rate is 2.4%, and the US Dollar (USD) serves as its currency. The US has foreign exchange reserves of about $250 billion and holds the largest gold reserves globally, totaling 8,133 tons. Major exports include machinery, electronics, and aircraft, while the main imports are electronics, machinery, and oil. The US economy is highly diversified, with strong sectors in technology, finance, and services.
Germany’s economy has a real GDP of $3.85 trillion and a per capita GDP of approximately $46,000. With an inflation rate of 2%, the Euro (EUR) is the currency, with an exchange rate of about 1 EUR to 1.1 USD. Germany’s foreign exchange reserves are valued at $250 billion, with gold reserves of 3,363 tons. Major exports include vehicles, machinery, and chemicals, while the main imports are machinery, electronics, and oil. Germany is known for its robust manufacturing sector, particularly in automotive and engineering.
The United Kingdom has a real GDP of $2.67 trillion and a per capita GDP of approximately $39,000. With an inflation rate of 1.7%, the British Pound (GBP) is the national currency, trading at about 0.76 GBP per 1 USD. The UK’s foreign exchange reserves amount to $180 billion, with gold reserves of 310 tons. Major exports include machinery, chemicals, and pharmaceuticals, while the main imports are machinery, vehicles, and electronics. The UK has a well-developed economy with key contributions from finance, services, and manufacturing.
Canada has a real GDP of $2.16 trillion and a high per capita GDP of about $56,000. With an inflation rate of 1.6%, the Canadian Dollar (CAD) is the national currency, trading at around 1.3 CAD per 1 USD. Canada holds foreign exchange reserves of $85 billion but does not keep significant gold reserves, relying instead on its foreign reserves. Canada’s major exports are crude oil, vehicles, and machinery, while it primarily imports vehicles, machinery, and electronics. The economy is resource-intensive, with significant contributions from energy, automotive, and technology sectors.
Spain has a real GDP of $1.41 trillion and a per capita GDP of around $30,000. The inflation rate stands at 1.8%, and the country uses the Euro (EUR), with an exchange rate of approximately 1 EUR to 1.1 USD. Spain holds foreign exchange reserves valued at $60 billion and gold reserves totaling 281 tons. The nation’s primary exports include machinery, motor vehicles, and pharmaceuticals, while its major imports are crude oil, chemicals, and machinery. Spain’s economy is diversified, with strong sectors in manufacturing and agriculture, contributing significantly to its GDP.
France has a real GDP of $2.63 trillion and a per capita GDP of approximately $40,000. The inflation rate is 1.2%, and the Euro (EUR) is the national currency, with an exchange rate of 1 EUR to about 1.1 USD. France holds foreign exchange reserves of $220 billion and gold reserves totaling 2,436 tons. Major exports include machinery, pharmaceuticals, and aircraft, while it primarily imports crude oil, chemicals, and vehicles. France has a diverse economy with strong sectors in manufacturing, technology, and agriculture.
South Korea has a real GDP of $1.67 trillion and a per capita GDP of about $33,000. With a low inflation rate of 1.3%, the South Korean Won (KRW) is the national currency, trading at approximately 1,300 KRW per 1 USD. The country maintains foreign exchange reserves of $420 billion and gold reserves of 104 tons. South Korea’s main exports are semiconductors, cars, and petrochemicals, while it primarily imports crude oil, machinery, and electronics. The economy is highly industrialized, driven by large conglomerates such as Samsung and Hyundai, and is a leader in technology and manufacturing.
Italy’s economy has a real GDP of $2.04 trillion, with a per capita GDP of around $34,000. The inflation rate is relatively low at 0.9%, and the Euro (EUR) serves as its currency, with an exchange rate of approximately 1 EUR to 1.1 USD. Italy maintains foreign exchange reserves of $140 billion and gold reserves totaling 2,452 tons. Key exports include machinery, vehicles, and pharmaceuticals, while the country imports oil, machinery, and chemicals. Italy is known for its manufacturing and luxury goods sectors, including fashion, automotive, and food industries.
China’s economy boasts a real GDP of $14.72 trillion and a per capita GDP of about $10,000. The inflation rate is low at 0.3%, and the Chinese Yuan (CNY) is the national currency, trading at about 7.1 CNY per 1 USD. China’s foreign exchange reserves are substantial at $3.1 trillion, with gold reserves totaling 2,010 tons. Major exports include electronics, machinery, and clothing, while primary imports are electronics, oil, and machinery. China has a large, export-driven economy with significant contributions from manufacturing and technology.