List of World’s Largest Consumer Markets
The sharp drop in oil prices and quick exchange rate adjustments are just a few examples of the economic factors that impact consumers worldwide.
In the U.S., the economy is booming. Elsewhere, things are not so good. But, as expected, the Chinese economy and its consumer market are rising.
As a result, many expect China to be the world’s number one consumer market in a few years. The countries are selected by their Household final consumption expenditure (HFCE), which means consumer spending in nominal terms.
The 40 Largest Consumer Markets In The World, ranked according to United Nations Statistics Division, are about world economic factors and present trends.
World’s Largest Consumer Markets
Countries | Household final consumption expenditure (HFCE) | % of GDP | Year |
United States | 16,902,980 | 68 | 2018 |
European Union | 8,300,055 | 54 | 2019 |
China | 5,352,545 | 39 | 2018 |
Japan | 2,756,919 | 56 | 2018 |
Germany | 2,022,746 | 52 | 2019 |
United Kingdom | 1,835,014 | 65 | 2019 |
India | 1,729,560 | 60 | 2019 |
France | 1,458,961 | 54 | 2019 |
italy | 1,205,038 | 60 | 2019 |
Brazil | 1,194,670 | 65 | 2019 |
Canada | 1,003,438 | 58 | 2019 |
Russia | 856,329 | 50 | 2019 |
South Korea | 799,470 | 49 | 2019 |
Spain | 799,084 | 58 | 2019 |
Australia | 773,698 | 56 | 2019 |
Mexico | 753,475 | 65 | 2019 |
Indonesia | 648,924 | 58 | 2019 |
Turkey | 433,021 | 57 | 2019 |
Netherlands | 397,259 | 44 | 2019 |
Switzerland | 373,548 | 53 | 2019 |
Poland | 339,308 | 57 | 2019 |
Saudi Arabia | 308,752 | 39 | 2019 |
Nigeria | 304,975 | 77 | 2018 |
Argentina | 289,462 | 64 | 2019 |
Philippines | 275,855 | 73 | 2019 |
Belgium | 272,218 | 51 | 2019 |
Thailand | 272,105 | 50 | 2019 |
Hong Kong | 250,881 | 69 | 2019 |
Sweden | 240,759 | 45 | 2019 |
Pakistan | 230,514 | 83 | 2019 |
Austria | 230,241 | 52 | 2019 |
Colombia | 221,895 | 69 | 2019 |
Malaysia | 218,057 | 60 | 2019 |
Egypt | 214,381 | 85 | 2018 |
Iran | 212,093 | 48 | 2017 |
South Africa | 211,693 | 60 | 2019 |
Bangladesh | 208,699 | 69 | 2019 |
Israel | 202,887 | 55 | 2018 |
Norway | 180,832 | 45 | 2019 |
Vietnam | 178,531 | 68 | 2019 |