A colossal machine, the world's economy is expected to have generated a jaw-dropping $110.06 trillion (£87.76tn) in goods and services in 2024. But where does your country stand in the grand scheme of things?

Read on to discover what percentage of the global economy comes from your home nation and find out which countries boast the biggest slices based on the latest GDP data from the International Monetary Fund (IMF).

All dollar amounts in US dollars.

With a GDP of $252.24 billion (£201bn) in 2024, New Zealand's economy plays a comparatively minor role in the global context, reflecting its small size and geographic isolation. While the nation's agricultural products, particularly dairy and meat, are competitive on the world market, its overall economic output and trade volume are modest compared to the planet's major economies. And New Zealand's global share has dropped over the past 12 months.

Growth was expected to come in at zero in 2024 as Kiwis grapple with high interest rates, with this restrictive monetary policy weighing heavily on economic activity, according to ANZ Bank.

Peru's economy is driven by mineral exports, especially copper and gold, and is vulnerable to fluctuating commodity prices. China is the main trading partner for both New Zealand and Peru. Services dominate employment; though the country does have a developed manufacturing sector, informal work is prevalent.

Following a challenging 2023, the economy rebounded in 2024 with 3% growth, bringing Peru's GDP to $283.31 billion (£226bn), which represents 0.26% of the global total.

Chile's economy is underpinned by mining and agriculture. The nation is the world's leading producer of copper and lithium, not to mention grapes and blueberries. Tourism is also a key money-spinner for the country. As is the case for many nations, China is Chile's leading trading partner.

The country's GDP for 2024 was estimated at $328.72 billion (£262bn), with growth of 2.5%. In terms of GDP per capita, Chile is the third-richest nation in South America after Guyana and Uruguay.

With a GDP of $403.05 billion (£321bn) in 2024, South Africa is the largest economy in Africa, accounting for 14% of the continent's output. However, its share has dropped in recent years amid muted growth. Mining is the Rainbow Nation's economic lynchpin, but manufacturing and services are also key. Again, China is the country's top trading partner.

While South Africa's overall GDP is impressive, it trails six African nations when it comes to GDP per capita. Extreme inequality is rife, with a colossal gap between the country's rich and poor.

Latin America's fourth largest economy, Colombia has a GDP of $417.21 billion (£333bn), with growth pegged at 1.6% for 2024. GDP per capita is, however, below the regional average.

Colombia's economy is diverse, spanning manufacturing, mining, retail and tourism. Its top exports include coal, coffee and gold. The US is the country's most important trading partner, followed by China.

Malaysia's share of the global economy is expanding. Thanks to predicted growth of 4.8% in 2024, its GDP now stands at $439.75 billion (£351bn), and the nation accounts for 0.4% of the worldwide total, up from 0.38% in 2023.

Rubber, palm oil and petroleum have long been economic mainstays, but export-focused manufacturing is now the key driver, supported by a skilled workforce, robust infrastructure and substantial foreign investment. Singapore and China are the nation's leading export partners.

Vietnam has also seen its share of the global economy mushroom. The country has developed a flourishing export-driven manufacturing sector, benefiting from Western companies shifting production from China, though the People's Republic remains its main trading partner. Vietnam is also nurturing an expanding digital economy. And with a growing middle class and an increased focus on renewable energy, the nation's economic outlook is exceedingly positive.

Growth of 6.1% in 2024 has pushed up the country's GDP to $468.49 billion (£374bn), and the IMF expects the Vietnamese economy to expand by the same proportion in 2025.

The Filipino economy is growing at a relatively rapid rate too, increasing the country's slice of the global pie. GDP for 2024 was estimated at $470.06 billion (£375bn), an increase of 5.8% from 2023. The services sector accounts for over 60% of the economy, while manufacturing makes up 29%.

America is the country's biggest export market, closely followed by China, which supplies the lion's share of its imports.

Modest growth of 1.5% propelled Norway's GDP past the half-trillion dollar mark in 2024, with the figure pegged at $503.75 billion (£402bn)

Europe's biggest exporter of petroleum and natural gas, Norway is one of the wealthiest countries in the world. In fact, the nation's GDP per capita of $90,430 (£72,109) is the fourth highest globally. Its key trading partners are Germany and neighbouring Sweden.

A manufacturing heavyweight, Thailand is dependent on exports, which make up over 65% of the nation's GDP. Its key trading partners are China and the US. Tourism is also crucial to the country's economic wellbeing, and the sector is positively booming right now.

At 2.8%, growth in 2024 lagged behind other major economies in the region, such as Indonesia, Vietnam and Malaysia, but Thailand's GDP of $528.92 billion (£422bn) remains impressive.

Singapore has enjoyed remarkable economic success since it achieved independence in 1965. Courtesy of its strong governance, favourable tax regime, highly educated workforce and other stellar attributes, the city-state has become a prominent trading and financial hub, with China and the US its top trading partners.

Bolstered by healthy growth of 2.6% in 2024, the nation's GDP comes in at $530.71 billion (£423bn), while its GDP per capita is the fifth highest in the world.

Austria's highly developed mixed economy has been buffeted in recent years. With domestic consumption and investment down, problems compounded by dwindling exports to the country's biggest trading partner Germany, recession has reared its ugly head.

The Austrian economy is expected to have shrunk by 0.6% in 2024, translating to a GDP figure of $535.8 billion (£427bn), which in turn represents 0.49% of the global economy.

Long reliant on petroleum and natural gas, the economy of the UAE has diversified in recent years into a number of lucrative areas, from tourism and logistics to financial services. Its biggest trading partner is currently China.

Growth was poised to hit 4% in 2024, with the Gulf State's GDP estimated at $545.05 billion (£435bn). In terms of GDP per capita, the UAE is on a par with Western European nations such as France and the UK.

Despite a contraction of -0.2% in 2024, Ireland's GDP remains impressively high at $560.57 billion (£447bn), and its GDP per capita is the third highest globally.

While this figure is inflated by the presence of multinational companies that report their income in the low-tax nation, Ireland still punches well above its weight. The country's economy is one of the most dynamic in the world. Ireland is an important producer of hi-tech consumer electronics, pharmaceuticals and other high-value goods, with the US and UK its top trading partners.

The Argentinian economy has been in the doldrums for decades, plagued by poor governance, rampant inflation, punishing debt and other negatives. In a bid to revive the ailing economy, President Javier Milei, who was elected in 2023, has embraced shock therapy, which includes removing price controls and relaxing regulations.

The move has come at heavy social cost, with poverty soaring in the country, but it does appear to be working to some degree. Argentina's GDP is estimated to have shrunk by 3.5% in 2024, falling from $644.51 billion (£514bn) to $604.38 billion (£482bn). However, according to the IMF, it's set to grow by 5% in 2025 as the reforms bear fruit.

Services account for much of Belgium's GDP, but trade in goods is crucial too. The nation exports everything from cars and machinery to pharmaceuticals and finished diamonds, with Germany and the Netherlands its chief trading partners.

The Belgian economy has been resilient in recent years while others have faltered. While on the modest side, growth has been steady, coming in at 1.1% in 2024, and the country's GDP is now estimated at $662.18 billion (£528bn).

The quintessential wealthy country, Switzerland's GDP of $942.27 billion (£751bn) is astonishingly high given the size of its population, and the country has the world's second highest GDP per capita after Luxembourg.

Switzerland's affluence is underpinned by its world-leading industries, which include banking, insurance and tourism, as well as its exports of luxury goods, pharmaceuticals and other lucrative products. The country's top trading relationships are with the US and Germany.

Saudi Arabia's GDP exceeded a trillion dollars for the first time in 2022 and is estimated to have hit $1.1 trillion (£877bn) in 2024, following a wobble in 2023, with growth coming in at 1.5%.

Petroleum and natural gas have long been the lifeblood of the Saudi economy. However, in 2023, the non-oil sector surpassed 50% of GDP for the first time ever, signifying a major shift. The Gulf State is currently undertaking an ambitious diversification programme known as Vision 2030, which aims to foster growth in sectors such as tourism, manufacturing, AI and green energy.

The economy of the Netherlands is varied and its top industries range from petroleum refining and agritech to tourism and advanced manufacturing. The country is a global leader in high-end semiconductor machine production, with Dutch corporation ASML the world's top supplier of high-end lithographic systems.

Growth was on the weak side in 2024 at 0.6%, translating to a modest rise in GDP to $1.22 trillion (£973bn). However, this should pick up in 2025, with the IMF forecasting an upswing of 1.6%.

Türkiye's strategically important location at the juncture of Europe, the Middle East and Central Asia has long been a boon for its economy, which is supported by strong service and manufacturing sectors. The nation's top trading partners, China and Germany, underscore its pivotal role in bridging East and West.

Weaknesses include stubbornly high inflation and government debt. Despite these negatives, the Turkish economy is estimated to have grown by 3% in 2024, boosting its GDP to a healthy $1.34 trillion (£1.07tn).

Indonesia has the largest economy in Southeast Asia. Like Turkey, its strategic position has served it well, and the country's wealth of natural resources, as well as its young, educated workforce are key drivers of its economic success.

For 2024, growth was expected at 5%, with the country's GDP sitting at $1.4 trillion (£1.12tn). And the figure is forecast to rise to $1.49 trillion (£1.19tn) in 2025, an impressive increase of 6.4%.

A post-pandemic tourism boom has worked wonders on Spain's economy, which has also been boosted by a resilient labour market strengthened by immigration. With growth estimated at 2.9% in 2024, the country's GDP has increased to $1.73 trillion (£1.38tn).

However, supply-chain issues are hampering exports, and Spain's comparatively poor productivity levels are a cause for concern, raising questions about the sustainability of its growth trajectory.

Australia's GDP stands at $1.8 trillion (£1.44tn) for 2024, with the growth figure coming in at 1.2%. Growth is expected to climb to 2.1% in 2025, which is considered within the ideal bracket for an advanced economy.

The country's economy is dominated by services, but mining is a major contributor. Australia's key exports are coal, iron ore, natural gas and gold, much of which ends up in China, the nation's main trading partner since 2007.

Another country that has benefited from the reshoring trend, Mexico has expanded its manufacturing base in recent years and is reaping rewards as American firms shift production from China. The nation's chief exports include vehicles and computers. Understandably, the US is Mexico's biggest trading partner by a long shot.

That said, the Mexican economy has slowed. Growth of only 1.5% was expected in 2024, with Mexico's GDP estimated at $1.85 trillion (£1.48tn). And the situation may get a lot worse. The new Trump administration has threatened to impose tariffs of 25% on the country's exports, a move President Trump has, for now, postponed following last-minute talks with Mexico’s president, Claudia Sheinbaum.

Services account for much of South Korea's output, but the country is one of the world's most export-dependent advanced economies, with exports representing around a third of its GDP. Hi-tech manufacturing is South Korea's forte, and the country is among the global leaders in semiconductor production.

For 2024, growth was pegged at 2.5%, and the IMF estimate for South Korea's GDP stands at $1.87 trillion (£1.49tn). However, with domestic demand anaemic, the growth figure is set to drop to 2.2% in 2025.

Russia's GDP is expected to have grown by 3.6% in 2024, with the country's output increasing from $2.01 trillion (£1.60tn) to $2.18 trillion (£1.74tn). But don't be fooled into thinking its economy is performing well.

The increase is mostly down to a spike in military spending as a result of the war in Ukraine. Western sanctions have hit hard, and Russia has had to resort to selling its petroleum and natural gas at heavy discounts. The winner here is Beijing, now Moscow's main trading partner, which is capitalising on Russia's weakened economic position.

Brazil's economy is buttressed by world-leading mining, agriculture and manufacturing sectors, alongside a dynamic and expanding service sector.

Investment and domestic consumption are driving decent growth in Latin America's biggest economy. Output was pegged at $2.19 trillion (£1.75tn) in 2024, up 3% from the previous year, though the IMF expects growth to soften to 2.2% in 2025.

Canada's economy is expected to have grown by 1.3% in 2024, with GDP coming in at $2.21 trillion (£1.76tn) compared to $2.14 trillion (£1.71tn) in 2023. While property is the key driver, Canada is enormously dependent on exports, chiefly petroleum, though cars, gold, fertiliser and lumber are crucial too.

The majority of Canada's exports are bound for the US, its biggest trading partner by far. Needless to say, the threat of 25% tariffs imposed by the new Trump administration on its neighbour's exports could pose a significant risk to the Canadian economy going forward. As is the case with Mexico, Donald Trump postponed tariffs at the 11th hour following talks with outgoing Canadian PM Justin Trudeau.

Italy is a global trailblazer in everything from financial services and tourism to luxury fashion. But the EU nation, which has struggled with growth since the mid 1990s, is up to its eyeballs in debt. The large informal economy has also hindered the nation's financial wellbeing.

For 2024, growth was projected at a disappointing 0.7%, with GDP coming in at $2.38 trillion (£1.90tn). And the number is expected to remain around the 0.7% mark for the next few years, according to the IMF.

The economy of France is among the most diverse globally. The nation excels in advanced manufacturing, services, agriculture and more. Its high-end goods and aerospace industries are world-leading and, as the most visited country on the planet, France has a thriving tourism sector too. On the downside, public debt is a persistent issue and Moody's recently downgraded the country's credit rating.

GDP now stands at $3.17 trillion (£2.55tn), with mediocre growth of 1.1% predicted for 2024, though the figure is expected to pick up modestly by the end of the decade.

The UK economy has much in its favour. Financial services are world-class, the domestic market is large and sophisticated, and the nation is a world leader in aeronautics, AI and medical research. But the country's growth has been subdued since the 2007-2008 Global Financial Crisis, while Brexit has created significant economic headwinds.

The nation's GDP is pegged at an impressive $3.59 trillion (£2.86tn), but growth for 2024 was projected to be a relatively lacklustre 1.1%. Moreover, growth isn't expected to surpass the 1.5% mark at any point this decade.

The world's most populous nation is aiming to become a high-income country by 2047, when it will celebrate 100 years of independence. The country has developed a richly diversified economy and millions of Indians have been pulled out of poverty, though GDP per capita remains low at just $2,700 (£2.2k).

The economy is growing fast though. Up 7% in the past year, GDP currently stands at $3.89 trillion (£3.10tn). Unsurprisingly, India's share of the global economic pie keeps getting bigger. By 2030, it's poised to become the world's third-largest economy and is forecast to be the global number one by 2080.

In contrast, Japan's share of the global economy is in decline as it wrestles with eye-watering government debt, sluggish growth and a rapidly ageing population. However, Japan remains a global leader in a range of key industries, from consumer electronics and advanced robotics to vehicle manufacturing.

With growth of 0.3% in 2024, the nation's GDP now stands at $4.07 trillion (£3.25tn). Growth is expected to rise to 1.1% in 2025 but will fall back again thereafter, according to the IMF, settling down at 0.5% by the end of the decade.

Europe's manufacturing powerhouse, Germany is also a major international financial centre and a global leader in technology and innovation. But there's trouble afoot in the world's third-biggest economy, which has stagnated for the past five years.

With zero growth in 2024, Germany's GDP of $4.71 trillion (£3.76tn) remains unchanged from 2023. The economy is expected to grow by 0.8% in 2025 and 1.4% the following year. However, the prospect of stiff US tariffs imposed by the incoming Trump administration on German exports could knock 1% off the country's GDP according to one estimate, and scupper its economic comeback.

The world's factory, China has established itself as the planet's premier manufacturer and exporter, though the nation is moving towards a high-value, innovation-fuelled economy. Its share of the global pie has risen from around 2% in 1980 to 16.6% today, with the country's GDP figure now standing at $18.27 trillion (£14.57tn).

Growth has cooled in recent years amid a property market crash, reduced consumer spending, rising debt and other headwinds. Plus, the US is going all out to hinder China's innovation through various means, including export controls on advanced technologies and efforts to limit the nation's access to critical components. The country's economy now faces a fresh challenge after Donald Trump imposed trade tariffs of 10%. China immediately responded with its own tariffs on American goods, and a deepening trade war with global repercussions now looks inevitable.

With a GDP of $29.17 trillion (£23.26tn) in 2024, based on growth of 2.8%, the mighty US economy makes up a whopping 26.5% share of the global total. Though its piece of the pie has almost halved since 1960, the US still leads the world in international trade, financial services, military spending, technological innovation and many other economic activities.

President Trump promises to Make America Great Again, but he has his work cut out in reducing government debt and the country's reliance on China. Meanwhile, the tariffs he's threatening to impose could backfire, leading to supply-chain disruptions and higher prices all round.

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