Trillion dollar club
Encyclopedia
The Trillion dollar club is an unofficial classification of the world's major economies with a gross domestic product
(nominal GDP) of more than USD
1 trillion per year.
Due to the world financial crisis, South Korea and Australia exited the trillion dollar club as their nominal GDPs shrank below $1 trillion in 2008 and 2009 respectively. Australia rejoined the list in 2010 while South Korea did so in 2011 as these countries' nominal GDPs once again were above $1 trillion. Accordingly with the IMF, Mexico's estimated nominal GDP in 2009 also disminished below the trillion dollar mark, although other sources such as the CIA reported it above the mark.
Africa
and Antarctica are the only continents without countries included in the group.
All of the G8
and BRIC
countries are currently $1 trillion economies in United States dollars. Since currency valuations can be subject to rapid change, a country could achieve the USD 1 trillion nominal GDP mark one year and then produce less than that in total goods and services the following year(s). The 2010 data used here are compiled according to the International Monetary Fund
(IMF) values. As for the former Soviet Union, the last statistics about its economy stated that it had an over US$2.5 trillion economy in the 1990 fiscal year, before its collapse. Also, it is unknown what year the Soviet Union first reached the mark.
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
(nominal GDP) of more than USD
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
1 trillion per year.
Due to the world financial crisis, South Korea and Australia exited the trillion dollar club as their nominal GDPs shrank below $1 trillion in 2008 and 2009 respectively. Australia rejoined the list in 2010 while South Korea did so in 2011 as these countries' nominal GDPs once again were above $1 trillion. Accordingly with the IMF, Mexico's estimated nominal GDP in 2009 also disminished below the trillion dollar mark, although other sources such as the CIA reported it above the mark.
Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
and Antarctica are the only continents without countries included in the group.
Chronological order of current nations having at least US$1 trillion
| Year | Country | Source |
|---|---|---|
| 1970 |  United States |
|
| 1979 |  Japan |
|
| 1987 |  Germany |
|
| 1988 |  Early Modern France |
|
| 1990 |  Italy |
|
| 1994 |  United Kingdom |
|
| 1998 |  Mainland China |
|
| 2004 |  Spain |
|
| 2005 |  Canada |
|
| 2006 |  Brazil |
|
| 2007 |  Mexico India Russia South Korea |
|
| 2008 |  Australia |
Former nation that had US$1 trillion economy
| Year | Country | Source |
|---|---|---|
| 1972(?) |  Soviet Union |
All of the G8
G8
The Group of Eight is a forum, created by France in 1975, for the governments of seven major economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. In 1997, the group added Russia, thus becoming the G8...
and BRIC
BRIC
In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development...
countries are currently $1 trillion economies in United States dollars. Since currency valuations can be subject to rapid change, a country could achieve the USD 1 trillion nominal GDP mark one year and then produce less than that in total goods and services the following year(s). The 2010 data used here are compiled according to the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
(IMF) values. As for the former Soviet Union, the last statistics about its economy stated that it had an over US$2.5 trillion economy in the 1990 fiscal year, before its collapse. Also, it is unknown what year the Soviet Union first reached the mark.