Angela Merkel is again number one on Forbes list of 100 most powerful women, but youngsters are snapping at her heels.

Forbes' Magazine's Clare O'Conner says the annual list includes extraordinary entrepreneurs and visionary CEOs.

Helen Clark retains last year's position of 23.

They're all ranked by dollars, media presence and impact.

"The pool is unfortunately smaller for women, but that's changing especially if you look at the younger women coming up on this list."

Number 64 on the list, 25-year-old Taylor Swift is an example.

She had the number one selling album last year but she's also wielding her power in an unusual way, taking her music off Spotify earlier this year when she felt artists weren't being fairly compensated.