In terms of GDP, Which one of the following is the 2nd largest economy ?
Created: 5 years ago |
Updated: 3 years ago
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Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year.
Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.
Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.
Md Azizur Rahman
Founder of Satt
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