world major economies
Written by Waseem Raza

World Major Economies: Global manufacturing centers are the centers that are involved in manufacturing processes. Manufacturing industries where raw material transformed into finished goods on a large scale. Such finished goods may be sold within the country or export to other countries. Finished goods may also be sold to other manufacturers for the production of other more complex products such as aircrafts, household appliances, furniture, sports equipment or automobiles. Developed countries regulate manufacturing activity with labor laws and environmental laws. Also, read about the major sea ports of the world

Economy of Japan

The economy of Japan is the third largest in the world by nominal GDP and the fourth-largest by purchasing power parity (PPP) and is the world’s second largest developed economy. The Japanese economy faces considerable challenges posed by a declining population. Japan is the world’s third largest automobile manufacturing country and has the largest electronics good industry and is considered among the world’s most innovative countries. The petrochemical industry experienced moderate growth in the late 1980s. The highest growth came in the production of plastics, polystyrene and polypropylene prices for petrochemicals remained high because in the newly developing countries of Asia the demand is increased.

In the long term, the Japanese petrochemical Industry faces intensifying competition by other Asian countries to catch up with Japan. The motor vehicle industry is one of the most successful industries in Japan. Japan is a six of the top of the largest vehicle manufacturer in the world. E.g. it is home to multinational companies such as Toyota, Honda, Suzuki and Mazda. The textile industry showed a strong revival in the late 1980s because of increased domestic demand from the construction, automobiles, housing and civil engineering industries for various synthetic fibers. The fields in which Japan enjoys relatively high technological development include semiconductor manufacturing, optical fibers, video discs and videotext, facsimile and copy machines, industrial robots and fermentation processes.

major economies of the world

major economies of the world

i. Japan’s Major Industries

Automobiles, consumer electronics, computers semiconductors, iron and steel are major industries of Japan. Other key industries in Japan are mining, petrochemicals, pharmaceuticals, bio industry, shipbuilding, aerospace, textiles and processed foods.

ii. Major industrial Cities of Japan

Tokyo, Osaka, Nagoya, Southwestern part of Honshu, Northern Shikoku, Northern part of Kyushu and Fukuoka.

Economy of China 

China is the world’s second-largest economy by nominal GDP and the world’s largest economy by purchasing power parity. China is the world’s largest manufacturer, sometimes referred as the “the world’s factory”. In recent years China has been an attractive destination for manufacturing due to its low labor costs, skilled workforce and good infrastructure. But China’s manufacturing profile is changing with developed regions moving downward. China is the world’s largest producer of rice and other agriculture produce include wheat, corn (maize), tobacco, soybeans, potatoes, sorghum, peanuts, tea, millet, barley, oilseed, pork, and fish.

i. Major industries of China

Mining and more processing, iron and steel, aluminum, coal, machinery, ornaments, textiles, petroleum, cement, chemical, fertilizers, food processing, automobiles and other transportation equipment including rail cars, ships, and aircrafts, consumer products including footwear, toys and electronics, telecommunication and information technology. China’s cotton textile industry is the largest in the world producing yarns, cloths, woolen piece goods, knitting wools, silk, jute bags and synthetic fibers. High technology industries produce high speed computers 600 types’ semiconductors, specialized electronic measuring instruments and telecommunication equipment.

ii. Major industrial cities of China

Shanghai, Beijing, Tianjin, Guangzhou and Shenzhen. 

Economy of Germany

Germany is the largest national economy in Europe, the fourth largest by nominal GDP in the world and fifth by purchasing power parity. The economy of Germany is the largest manufacturing economy in Europe and it is less affected by the financial crises. In 2016, Germany recorded the highest trade surplus in the world worth $310 billion that makes the Germany the biggest capital exporter globally. Germany is the manufacturer of automobiles, machinery, electrical equipment and chemicals. It was the world’s fourth largest producer and largest exporter of automobiles. The best known and the second largest industry in Germany is automotive manufacturing. Almost half of all German produced automobiles are exported to other EU members and to North America. Other important industries are the traditional German industries of steel and coal mining, both heavily subsidized and still large employers. Aerospace is a small but growing industry, also heavily subsidized.

i. Main industries of Germany

Machine tools, automobiles manufacturing, electrical engineering, iron, steel, chemicals and optics are major industries of Germany. The manufacturing in East Germany is expected to concentrate in the same industries overtime, thus, the future German economy will retain a powerful industrial component that will above 30% of German.

world major economies

ii. Major industrial region

Germany, Rhine, Hamburg, Berlin and Leipzig

Economy of France

France has the world’s 6th largest economy in the world and the 10th largest economy by purchasing power parity. Various reform measures have been adopted to increase the economy’s competitiveness and flexibility. France is the world’s largest industrial producers. Manufacturing in France is serves as primary source of export income. Manufacturing sector consist of mostly family Owned small firms, which produce low volumes of crafted goods. France become a leading producers of automobiles, steel, electrical equipment, and chemicals and earned a reputation for technological innovation. Food processing is the largest manufacturing sector in terms of employment. France is the world’s largest producer of sugar beets, the second largest producer of wine. Other well-known French food include meats, bread etc. French firms are known for technological innovation in aerospace, defense, transportation and other specialized industries.

i. Major industries of France

Food products, automobiles, aircrafts, ships, trains, electrical machinery, mechanical equipment and machine tools, chemicals, pharmaceuticals, textiles and clothing. France produces advanced commercial and military aircraft as well as many kinds of military hardware. A large electronics industry in France produces telecommunication equipment, computers, television, radios and other items. The French chemical industry produces a diverse range of products, including industrial chemicals, plastics, fertilizers, beauty products and pharmaceuticals. The textile industries famous for cotton, silk and woolen goods remain important.

ii. Major Industrial Region of France

North-east industrial region that include (Dunkirk, Denain, Tourcoing, Cambrai and Roubaix), Lorraine industrial region, the Paris Basin, Dijon industrial region, Rhone Sone valley region and Lorraine region

Economy of USA

The economy of USA is the world’s largest national economy in nominal terms and second largest according to purchasin finance, insurance and real estate and services industries played a significant role in provision of employment. Manufacturing continues evolve due to factors such as information technology and supply chain innovations.

i. Major Industries of U.S

Petrochemical, steel, automobiles, aerospace, telecommunication, chemicals, lead electronics, food processing, consumer goods and mining are major industries of U.S. The large portion of U.S industrial output in the world is aircraft manufacturing. The primary export commodities were transportation equipment, computer and electronics products, agricultural products, machinery chemicals and food product.

Economy of South Korea

The economy of South Korea is the fourth largest economy in Asia and the 11th largest in the world. South Korea is famous for its amazing rise from one of the poorest countries in the world to a developed high-income country in just one generation. South Korea has almost no natural resources and a problem of overpopulation which cause continued population growth and the formation of large internal consumers market, to stabilize its economy.

South Korea adopted export-oriented strategies and in 2014, South Korea was the seventh largest exporter and seventh largest importer in the world. South Korea still remains one of the fastest growing developed countries in the world following the great recession. South Korea effective education system and the highly motivated and educated people are responsible for rapid economic development and research into the future. The total population in South Korea was estimated at 50.8 million people in 2016, according to the latest census figures.

i. Main Industries of South Korea

Major industries of South Korea include Steel, automobiles, ships, chemicals, clothing, television sets, household appliances, computers and semiconductor chip.

Economy of Holland

According to World Bank, Holland was the 18th largest economy of the world in 2012. The judicial system is independent and free of corruption, provides strong protection of property rights. Global trade and investment is well established in this economy and there is transparent and efficient regulatory environment. Netherlands has discovered huge natural gas resources since 1959. The sale of natural gas generated revenues for the country which added hundreds of billions of Euros to the government’s budget. The Netherlands has a prosperous and open economy which depends heavily on foreign trade. The economy is stable industrial relations, low unemployment and inflation and a very big size current account surplus. Netherlands being a small country is a big player in the world’s trade and the global transfer of capital. Netherlands is the 66thmost populated country in the world and it has a population of 17,000,000 (2016).


ii. Major Industries of Netherlands Transport equipment, machinery, food and agricultural products, electronics, footwear and clothing, pharmaceuticals, optical, technical and medical equipment, iron, steel, live trees, plants and cut flowers. Read more

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