Total Return by Country [Largest Economies]

How have stocks of the major economies performed so far in 2023?

Today’s chart answers that question by presenting the inflation-adjusted total return for the six largest economies.

Today’s chart illustrates that all major markets, with the exception if India and China, are up significantly this year.

In addition, of these major countries, it is Germany that leads.


A peak in inflation, thanks in part to lower energy prices, are certainly a factor.

Real Total Return by Country

What are the five largest economies?

Per International Monetary Fund estimates, United States, China, Japan, Germany and the United Kingdom.

What is the largest economy?

With a GDP over $20 trillion, the U.S. has the largest economy. The only other country that comes close is China with a GDP near $15 trillion.

Of the largest economies, which is growing the fastest?

Of the largest economies, China is outpacing the rest.