The Visual Capitalist article ranks the world’s 20 largest economies by GDP adjusted for purchasing power parity (PPP) in 2023. The United States leads with a nominal GDP of $26.9 trillion, but when using PPP, China surpasses it at $33 trillion. India follows, ranking third globally with a PPP-adjusted GDP of $13 trillion, showcasing significant growth in emerging economies.

The analysis highlights the economic rise of BRICS nations (Brazil, Russia, India, China, and South Africa) as a counterbalance to the traditional G7 economies. By 2023, BRICS countries collectively accounted for $56 trillion of global GDP in PPP terms, surpassing the G7’s $52 trillion. This shift is driven largely by China’s rapid industrialization and India’s steady economic ascent.

Projections by the International Monetary Fund (IMF) suggest that by 2028, BRICS economies will represent 33.7% of the global economy in PPP terms, compared to 27.8% for the G7. This economic transition has geopolitical implications, with BRICS gaining influence and advancing initiatives like creating alternative financial systems to reduce reliance on Western institutions.