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

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