Connect with us

Hi, what are you looking for?

Jewish Business News

The Biggest Economies in the World

Looking at global GDP at constant 2017 prices, but adjusted for purchasing power/cost of living, China was the biggest economy in the world in 2019, with an adjusted GDP of more than $22.5 trillion, according to the World Bank.

While the Chinese economy is projected by the International Monetary Fund to grow by a low 1.2 percent in 2020 due to the coronavirus pandemic, the U.S. in second rank is expected to see its $20.6 trillion GDP decrease by almost 6 percent.

Asian countries among the top 8 biggest economies exhibited the best growth prospects, even among a global pandemic. European economies like German and the UK are expected to struggle in 2020, a fate they share with industrialized nation Japan.

According to the IMF, China and the U.S. are to remain at the top of the ranking in 2024, while Indonesia is projected to pull ahead of Germany. By 2030, India is expected to overtake the U.S. as the second-largest economy on the planet. At that time China is also supposed to be the biggest economy in the world in terms of nominal GDP, a record still held by the U.S.

Infographic: The Biggest Economies in the World | Statista You will find more infographics at Statista

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Advertisement