In 2024, the global leader in industrial output was China, where the sector's contribution to GDP increased by nearly 2%, reaching $6.8 trillion. The United States came in second, with a 3% growth, totaling $5.1 trillion. Germany, in third place, was one of the few major economies where the industrial sector saw a decline, dropping by 2.5% to $1.2 trillion. India ranked fourth, expanding its industrial output by 4% to $957 billion.
Russia's industrial sector showed the fastest growth among the top 10 largest economies, with a remarkable 6% increase, bringing its contribution to $668 billion. This growth enabled Russia to secure the fifth position globally.
The United Kingdom took the sixth spot, with a 3.5% growth, totaling $610 billion. Mexico followed, with a modest growth of less than 1%, reaching $586 billion.
The remaining countries in the top 10 saw a decline in their industrial sector contributions. France's industrial output decreased by 2% to $554.9 billion, Saudi Arabia's fell by 4% to $554.8 billion, and Indonesia experienced a slight dip of 0.4%, totaling $549 billion.
In total, the global industrial sector added $28.9 trillion to the world economy last year, compared to $28.5 trillion the previous year.