The World’s Biggest Economies in 2018
The United States has the largest economy in the world at $20.4 trillion, according to data from the International Monetary Fund (IMF), which shows the US economy increased from around $19.4 trillion last year.
China follows, with $14 trillion, which is an increase of more than $2 trillion in comparison to 2017. Japan is in third place with an economy of $5.1 trillion, up from $4.87 trillion a year previously.
European countries round off the top 5
Three European countries take up the next places on the list: Germany is fourth, with a $4.2 trillion economy, the United Kingdom is fifth with $2.94 trillion and France is sixth with $2.93 trillion.
Close behind the UK and France, in seventh, India’s economy is $2.85 trillion, and Italy is in eighth with an economy of $2.18 trillion. Ninth on the list is Brazil, with an economy of more than $2.14 trillion, while Canada is 10th with a $1.8 trillion economy.
The sheer scale of the United States’ economy puts others into perspective. It is larger than the combined economies of numbers four to 10 on the list above. Overall, the global economy is worth an estimated $79.98 trillion, meaning the US accounts for more than one-quarter of the world total.
China and India predicted to surge
However, its dominance looks to be waning. According to data from the World Bank (illustrated by visual capitalist), the global economy will expand by $6.5 trillion between 2017 and 2019. America’s GDP is expected to account for 17.9% of this growth. China’s, however, is predicted to account for almost double this, at 35.2%.
China’s digital economy is also experiencing a boom period. It has grown from less than 1% of the global e-commerce market about 10 years ago to 42% today. In comparison, the United States’ share of the market is 24%, down from 35% in 2005.
China’s economy will also eclipse the US economy by 2050, according to a report by professional services firm PwC, which also predicts India will overtake the US.
China, the report says, will have an economy of nearly $58.5 trillion, while India’s will be around $44.1 trillion and America’s will total $34.1 trillion.
Interestingly, Japan ($6.7trn), Germany ($6.1trn), the United Kingdom ($5.3trn) and France ($4.7trn) are expected to fall to eighth, ninth, 10th and 12th in the list, respectively.
These countries will be replaced by Indonesia ($10.5trn), Brazil ($7.5trn), Russia ($7.1trn), and Mexico ($6.8trn), which climb to fourth, fifth, sixth, and seventh, respectively.
Article Source: https://www.weforum.org
Up to 15% Returns on Investment
Fixed return investments fully backed by properties.
*15% p.a. paid at the end of the term on capital gain option*
Submit your email address and a member of our team will contact you shortly. Usual response time is 1-2 hours.
Indian and foreign firms committed an investment of nearly Rs 36,128 crore in Gujarat’s ports sector at the ninth Vibrant Gujarat Global Investors Summit on Friday. Port of Amsterdam signed atripartite agreement for developing a cruise terminal in Porbandar. An...
The facility, which will be utilised for the company's powertrain business, is scheduled to begin production by early 2020. Technology firm Continental on Thursday said it is investing approximately 30 million euros (Rs 240 crore) to set up a new manufacturing plant...
M12 Partner Rashmi Gopinath said the entity will invest in enterprise B2B startups, participating in series A to C rounds with cheque sizes ranging between USD 2-10 million. Betting big on the burgeoning Indian startup ecosystem, Microsoft's corporate venture fund,...
UP TO 15% PER YEAR FIXED RETURN
3 year investment plan, ideal for first-time investors.
Flexible Payment Options
Option to receive interest payments monthly or quarterly.