List of continents by GDP

Source International Monetary Fund World Economic Outlook (October-2023)
UN
Date09 Feb 2024

Asia is the largest continental economy by both GDP Nominal and PPP in the world. With $38.5 trillion in nominal terms, Asia accounts for 37% of the world GDP. In ppp terms, its shares go close to 48.5% with Int. $84.9 trillion. North America has the 2nd highest continental economy in nominal terms, while Europe is the 2nd highest continental economy in ppp methods. Only these three continents have crossed the ten trillion milestones. Asia, North America, and Europe together share about 91.4% of the global economy on a nominal basis and 89% on a ppp basis. In nominal data, South America is at 4th position while in ppp data, Africa is at 4th position. Oceania is the smallest continental economy in the world.

Northern America ($29 tn) has the highest economy among subregions, followed by Eastern Asia ($24.8 tn) and Western Europe ($10.7 tn). These three subregions together share about 61.9% of the global economy. In ppp terms, Eastern Asia replace Northern America at top position and Southern Asia replaces Western Europe at 3rd position. Eastern Asia includes China and Japan, the 2nd most and 3rd largest economies in the world. Northern America includes the United States, the largest economy in the world. Micronesia is the smallest subregion, followed by Polynesia, having just above $1 bn GDP.

With $1,867 billion, North America will be the top contributor of the total global gdp increment in 2021, followed by Europe (1,593 bn) and Asia (669 bn). In ppp terms, Asia accounts for 57.5% of the total global increase.

As per the UN, Asia's share had increased from 15.07% in 1970 to 37.69% in 2022. The contribution of Africa and Oceania has also increased in the global economy. The share of Europe has declined from 40.46% in 1970 to 28.73% in 2022. Among subregions, Eastern Asia is the highest share gainer, 9.61% in 1970 to 24.84% in 20122. Conversely, Eastern Europe lost most: 14.78% in 1970 to 4.12% in 2022.

Grouping of continents and subregions are as per United Nations Statistics Division.

  • GDP
  • Share (%)
  • Continent
  • Sub region
  • Nominal
  • PPP

Continents by gdp (IMF)

Continent GDP (Nominal) (billions of $) GDP (PPP) (billions of Int. $)
20222023Net changeShare(%) 20222023Net changeShare(%)
Asia37,843.06738,512.094669.02736.8678,599.22084,888.8746,289.65448.55
Africa2,956.1392,869.919-86.2202.758,325.8898,897.314571.4255.09
Europe23,825.91725,418.9341,593.01724.3335,073.78936,710.5781,636.78921.00
North America29,715.50531,582.7511,867.24630.2332,013.56033,911.3121,897.75219.40
South America3,821.9804,119.459297.4793.947,929.9328,363.249433.3174.78
Oceania1,986.4521,980.134-6.3181.901,954.1562,061.629107.4731.18
World 100,149.060 104,483.291 4,334.231 163,896.546 174,832.956 10,936.410

Continents by gdp (UN)

Continent GDP (billions of $) Share (%)
197020002022 197020002022
Asia515.939,582.4038,004.6315.0728.3637.69
Africa116.69673.322,870.763.411.992.85
Europe1,385.189,707.9523,858.9040.4628.7323.66
North America1,234.6911,976.2130,162.3936.0735.4429.91
South America116.751,371.103,858.093.414.063.83
Oceania54.02480.522,080.031.581.422.06
World 3,423 33,791 100,835

Subregions by gdp (IMF)

Subregion GDP (Nominal) (billions of $) GDP (PPP) (billions of Int. $)
20222023Net changeShare(%) 20222023Net changeShare(%)
Southern Asia4,708.8935,020.533311.6404.8116,926.93318,441.3481,514.41510.55
Western Asia4,140.9644,335.750194.7864.158,843.7319,371.943528.2125.36
South-Eastern Asia3,630.6463,864.077233.4313.7010,328.25711,151.210822.9536.38
Eastern Asia24,957.20024,835.731-121.46923.7741,348.15444,674.2433,326.08925.55
Central Asia405.364456.00350.6390.441,152.1451,250.13097.9850.72
Southern Africa445.360421.330-24.0300.401,049.6121,100.70551.0930.63
Western Africa779.569720.091-59.4780.692,110.9702,261.791150.8211.29
Northern Africa919.113886.881-32.2320.853,124.0473,325.387201.3401.90
Eastern Africa517.258571.25053.9920.551,402.4111,527.603125.1920.87
Middle Africa283.072260.326-22.7460.25609.684653.47243.7880.37
Southern Europe4,192.4784,619.853427.3754.426,822.2457,190.006367.7614.11
Western Europe9,840.82210,736.074895.25210.2812,534.34913,024.479490.1307.45
Northern Europe5,647.8635,990.459342.5965.736,557.5916,843.145285.5543.91
Eastern Europe4,144.7544,072.548-72.2063.909,159.6049,652.948493.3445.52
Northern America27,600.66429,067.4481,466.78427.8227,728.04529,328.6161,600.57116.78
Central America1,788.4222,172.073383.6512.083,748.7584,016.388267.6302.30
Caribbean326.419343.23016.8110.33536.757566.30829.5510.32
South America3,821.9804,119.459297.4793.947,929.9328,363.249433.3174.78
Australia and New Zealand1,944.5781,937.128-7.4501.851,895.6181,998.445102.8271.14
Melanesia39.17740.0590.8820.0455.32259.7014.3790.03
Polynesia1.3901.5490.1590.001.9092.0990.1900.00
Micronesia1.3071.3980.0910.001.3071.3840.0770.00
World 100,149.060 104,483.291 4,334.231 163,896.546 174,832.956 10,936.410

Subregions by gdp (UN)

Subregion GDP (billions of $) Share (%) Continent
197020002022 197020002022
Central Asia - 41.98394.32- 0.120.39Asia
Eastern Africa19.7582.71512.920.580.240.51Africa
Western Africa41.36119.80770.231.210.350.76Africa
Northern Africa24.74262.29855.580.720.780.85Africa
Middle Africa11.2844.50287.180.330.130.28Africa
Southern Africa19.56164.02444.850.570.490.44Africa
Eastern Asia329.117,276.9225,047.279.6121.5324.84Asia
Southern Asia98.44739.824,761.902.882.194.72Asia
South-Eastern Asia37.75626.573,630.591.101.853.60Asia
Western Asia50.63897.124,170.551.482.654.14Asia
Eastern Europe506.02658.744,150.5114.781.954.12Europe
Northern Europe214.892,523.775,652.656.287.475.61Europe
Southern Europe192.892,064.864,226.055.636.114.19Europe
Western Europe471.384,460.589,829.7013.7713.209.75Europe
Northern America1,162.8711,000.3727,892.5133.9732.5527.66North America
Central America54.49811.011,785.941.592.401.77North America
Caribbean17.33164.83483.940.510.490.48North America
South America116.751,371.103,858.093.414.063.83South America
Australia and New Zealand51.84464.572,022.421.511.372.01Oceania
Melanesia1.7711.0548.800.050.030.05Oceania
Polynesia0.344.307.510.010.010.01Oceania
Micronesia0.070.591.300.000.000.00Oceania
World 3,423 33,791 100,835