Emerging market
Rank Country GDP ( PPP , Peak Year ) millions of USD Peak Year
1 China 27,804,953 2020
2 India 11,321,280 2020
3 Russia 4,389,960 2019
4 Indonesia 3,778,134 2020
5 Brazil 3,596,841 2020
6 Mexico 2,616,289 2019
7 Turkey 2,361,778 2019
8 South Korea 2,320,498 2019
9 Saudi Arabia 1,900,894 2019
10 Iran 1,637,215 2017
11 Egypt 1,427,432 2020
12 Thailand 1,377,535 2019
13 Taiwan 1,339,812 2019
14 Poland 1,287,275 2019
15 Nigeria 1,215,389 2019
16 Pakistan 1,201,629 2019
17 Malaysia 1,076,373 2019
18 Philippines 1,040,413 2020
19 Vietnam 1,035,051 2020
20 Argentina 916,719 2017
Economy
The following table lists the 25 largest emerging economies by GDP ( nominal ) and GDP ( PPP ) in their respective peak year . Members of the G-20 major economies are in bold . See also : List of countries by past and projected GDP ( nominal ) and List of countries by past and projected GDP ( PPP ) Rank Country GDP ( nominal , Peak Year ) millions of USD Peak Year 1 China 15,269,942 2020 2 India 3,202,183 2020 3 Brazil 2,613,979 2011 4 Russia 2,292,464 2013 5 South Korea 1,720,489 2018 6 Mexico 1,322,489 2020 7 Indonesia 1,204,830 2019 8 Turkey 950,328 2013 9 Saudi Arabia 786,522 2018 10 Argentina 642,928 2017 11 Poland 606,730 2020 12 Taiwan 603,031 2020 13 Iran 577,214 2011 14 Nigeria 568,496 2014 15 Thailand 557,309 2020 16 South Africa 416,879 2011 17 United Arab Emirates 414,179 2018 18 Israel 410,501 2020 19 Hong Kong 385,274 2020 20 Philippines 383,482 2020 21 Colombia 381,844 2013 22 Malaysia 381,523 2020 23 Singapore 369,627 2020 24 Greece 356,140 2008 25 Egypt 353,003 2020
An emerging market is a country that has some characteristics of a developed market, but does not satisfy standards to be termed a developed market. This includes countries that may become developed markets in the future or were in the past. The term frontier market is used for developing countries with smaller, riskier, or more illiquid capital markets than emerging. The economies of China and India are considered to be the largest emerging markets. According to The Economist, many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion. The four largest emerging and developing economies by either nominal or PPP-adjusted GDP are the BRIC countries (Brazil, Russia, India and China).