In this article, we look at the 10 most economically powerful countries in the world. You can see how we ranked these countries and read about how they use their economic strength to advance foreign policy objectives by heading over to our article, 30 Most Economically Powerful Countries in the World.
10. Sweden
GDP (2022): $586 billion
Average Foreign Aid Per Year (2020-2022): $6.34 billion
Score: 1.712
Sweden, located in the Scandinavian region of Europe is one of the wealthiest nations in the world, with a GDP per capita of $61,029. It is the 24th largest economy in the world when ranked by nominal GDP. In 2022, Sweden gave 0.9% of its gross national income on foreign aid.
9. Netherlands
GDP (2022): $994 billion
Average Foreign Aid Per Year (2020-2022): $5.96 billion
Score: 1.718
The Netherlands is one of Europe’s strongest economies. Despite having a small population of only 17 million people, the Dutch economy is close to hitting the trillion-dollar mark. The average foreign aid given per capita by the Netherlands is $317 – seventh highest in the world.
8. Italy
GDP (2022): $2.01 trillion
Average Foreign Aid Per Year (2020-2022): $5.85 billion
Score: 1.735
Italy is the tenth largest economy in the world. Its GDP in 2022 was measured by the IMF to be over $2 trillion. Italy committed 0.32% of its GNI on foreign aid in 2022. Sub-Saharan Africa and MENA regions are the largest recipients of Italian aid.
7. Turkey
GDP (2022): $906 billion
Average Foreign Aid Per Year (2020-2022): $9.01 billion
Score: 1.786
Despite the economic crunch faced over the last two years, Turkey remains one of the most economically powerful countries in the world with a GDP closing in on $1 trillion. It is also a prominent donor country and spent an average of $9 billion over the last three years on foreign aid, much of it going to Yemen and Syria.
6. Canada
GDP (2022): $2.14 trillion
Average Foreign Aid Per Year (2020-2022): $6.55 billion
Score: 1.813
Canada is the ninth largest economy in the world and is one of the wealthiest nations. The country is a preferred destination for immigrants from across the world. Canada spent an average of over $6.5 billion each year on foreign aid between 2020 and 2022.
5. France
GDP (2022): $2.8 trillion
Average Foreign Aid Per Year (2020-2022): $15.93 billion
Score: 1.872
France has a GDP per capita of over $45,000. It is one of the most powerful nations in the world and a large donor country. In 2022, France spent 0.56% of its GNI on foreign aid – which amounts to over $15 billion.
4. United Kingdom
GDP (2022): $3.07 trillion
Average Foreign Aid Per Year (2020-2022): $17.49 billion
Score: 1.901
The United Kingdom may not be the superpower that it once used to be, but it still remains one of the most economically powerful countries in the world. The size of the British economy was estimated to be over $3 trillion in 2022 by the IMF. Afghanistan, Nigeria, Pakistan, Ethiopia, and Yemen are some of the largest recipients of UK’s foreign aid.
3. Japan
GDP (2022): $4.23 trillion
Average Foreign Aid Per Year (2020-2022): $18.1 billion
Score: 1.941
Japan ranks third in our list of the most economically powerful countries in the world. The strength of its economy is based on its expertise in the production of automobiles and consumer electronics. It is the third largest donor nation among OECD members.
2. Germany
GDP (2022): $4.07 trillion
Average Foreign Aid Per Year (2020-2022): $33.75 billion
Score: 1.960
Germany is Europe’s largest economy with a nominal GDP in excess of $4 trillion. It is the second largest donor of foreign aid in the world after the United States, which grants the country sufficient political clout in global politics. In 2022, Germany spent 0.83% of its GNI on official development assistance to more than 57 countries.
1. United States
GDP (2022): $25.4 trillion
Average Foreign Aid Per Year (2020-2022): $45.56 billion
Score: 2.00
The United States is the most powerful country and economy in the world. With a nominal GDP of over $25 trillion, it contributes 15% of the share of the size of the global economy. The US Dollar is the most strongest currency in the world – 59% of all foreign reserves in central banks around the world are maintained in the greenback. The United States also gives out the most foreign aid than any other nation. It has donated an average of over $45 billion each year between 2020 and 2022 in official development assistance according to the OECD.
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