Figures are based on official exchange rates, not on the purchasing power parity ppp methodology. Mariam al serkal gulf news seven of the world s top 10 economies by 2030. This is an alphabetical list of countries by past and projected gross domestic product nominal as ranked by the imf. Uk could be down to 10th place by 2050, france out of. Middle east saudi arabia the world factbook central. For the past two centuries the share of the world s gdp has shifted to the west to europe through imperialism, and technological innovation.
The bank sees developing economies like indonesia, turkey, brazil, and egypt all moving up the ladder and by 2030, it estimates that seven of the worlds largest 10 economies by gdp ppp will be located in emerging markets. According to projections by a prominent multinational bank, 7 of the world s 10 largest economies will be in emerging markets by 2030. Countries are sorted by nominal gdp estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Gross domestic product gdp ranking by country 2017. Visualizing the composition of the world economy by gdp ppp. An economic forecast for the world 2030 an economic forecast for the world 2030 building a free skeleton for world long time forecasting it is easy to predict, especially about the future, but whether it will hold true is a completely other matter foreword the report will give a bid on an economic forecast for the world for the. The world in 2050 report projects the uk will fall just one place from 9 th to 10 th in global economy rankings in purchasing power parity ppp terms by 2050. This could be the worlds biggest economy in 2030 fox.
S has been the global leader since 1871, but china may soon change that with its amazing growth. The graphic in this story has been corrected to reflect the accurate order of the world s 20 largest economies in 2030 according to the usdas forecasts. Gdp purchasing power parity compares the gross domestic product gdp or value of all final goods and services produced within a nation in a given year. Since 1ad until today the world s changed quite a lot. The firm projected indias gdp growth to accelerate to 7. Based on data from official statistics of ukraine and russian federation. These will be the 32 most powerful economies in the world by 2050. Countries with the highest gross domestic product gdp.
The world economic forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Pricewaterhousecoopers, one of the world s largest professionalservices firms, just released its predictions for the most powerful economies in the world by 2030. In 30 years, most of the worlds largest economies will be those that are emerging. Travel five superpowers ruling the world in 2050 bbc. Manuals, guides, and other material on statistical practices at the imf, in member countries, and of the statistical community at large are also available. Share of world gdp throughout history by dave drabble. Gross domestic product gdp is the market value of all final goods and services from a nation in a given year. The petroleum sector accounts for roughly 87% of budget revenues, 42% of gdp, and 90% of export earnings. Last year 2014, china overtook the united states in gross domestic product adjusted for purchasing power gdp ppp, see point 4 for explanation, according to both the international monetary fund imf and the world bank note 1. As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by china 1st, india 2nd and indonesia 4th the us could be down to third place in the global gdp rankings while the eu27s share of world gdp could fall below 10% by 2050. According to the projections, by the year 2030, the united states will have an almost insignificant lead as the world s numberone economic power. Learn which countries rank as being one of the top 20 economies in the world.
Chinas economy might be no 1 in 2030 economy chinadaily. The world in 2050 will the shift in global economic power. According to wikipedia, gdp comparisons using ppp are arguably more useful than those using nominal gdp see list of countries by gdp nominal when assessing a. These will be the 21 most powerful economies in 2030 the. Saudi arabia has an oilbased economy with strong government controls over major economic activities. Learn how the world bank group is helping countries with covid19 coronavirus. To create some additional context, weve compared these projections to the imfs most. List of countries by past and projected gdp nominal. A nations gdp at purchasing power parity ppp exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the united states.
Asias share of global gdp, which rose to 28 percent last year from 20 percent in 2010, will likely reach 35 percent by 2030 matching that of the euro area and u. Values are given in millions of united states dollars usd and have not been adjusted for inflation. Imf, world economic and financial surveys, world economic outlook database, july 2016. Essays in macroeconomic history, oxford university press, september 2007 2 chinese economic. It may come as a surprise, but this is really a matter of china simply reasserting its position as the world s largest economy, which it had lost around 1890 to the. Standard chartered has a massive acceleration in gdp growth for india, indonesia, turkey, brazil, egypt and russia. Asias share of world gdp in 2030 will likely match that of the eurozone and the u. This report sets out our latest longterm global growth projections to 2050 for 32 of the largest economies in the world, accounting for around 85% of world gdp. This book seeks to identify the forces which explain how and why some.
Nominal gdp does not take into account differences in the cost of living in different countries, and the results can vary. Emerging markets will start to dominate rankings of the world s top economies by 2030, according to a report published earlier this year. Global trends in per capita gdp growth and gini coefficients. Part 3 looks to the future and considers what the shape of the world economy might be in 2030. By 1820, it was onefifth again as big as europes and accounted for a third of world gross domestic product gdp. These could be the worlds biggest economies by 2030. Historical statistics is a landmark book by angus maddison. The statistic shows the 20 countries with the largest gross domestic product gdp in 2019. Combining both the close quantitative analysis with a more qualitative approach that takes into account the complexity of the forces at work, contours of the world economy provides students with a totally fascinating overview of world economic history. The world bank and the development research center of the state council, p. The global contribution to world s gdp by major economies from 1 ad to 2008 ad according to angus maddisons estimates. The magazine expects india to rise to fifth place in 2019 from seventh, and france to remain at sixth.
By the year 2030, it is projected that china will eclipse the united states and have the largest gross domestic product gdp in the world, at 31. The latest projected gdp rankings of the worlds largest economies is based on the size of national economies in us dollar terms. The world needs to be better prepared for populations on the move, writes lorna solis, founder and ceo of the ngo blue rose compass, as climate change will have displaced 1 billion people. Highly educated syrian refugees will have come of age by 2030, making the case for the economic integration of those who have been forced to flee conflict. Incorporated as a notforprofit foundation in 1971, and headquartered in geneva, switzerland, the forum is tied to no political, partisan or national interests. These will be the worlds 20 largest economies in 2030. Building a modern, harmonious, and creative highincome society from the early 1500s until the early 1800s, chinas economy was the world s largest. The book, already out in chinese and to be published in english next month, is likely to attract major interest around the world. But the next two centuries were tumultuous for china. The chart of the week is a weekly visual capitalist feature on fridays todays emerging markets are tomorrows powerhouses, according to a recent forecast from standard chartered, a multinational bank headquartered in london the bank sees developing economies like indonesia, turkey, brazil, and egypt all moving up the ladder and by 2030, it. Gross domestic product 2018 millions of ranking economy us dollars cub 64 cuba 96,851 lka 65 sri lanka 88,901 ken 66 kenya 87,908 dom 67 dominican.
These figures have been taken from the international monetary funds world. The report ranks countries by their projected global gross domestic. By 2050, the world is likely to have changed drastically from what we. We project the world economy to grow at an average of just over 3% per annum in the period 2014. China isnt the only asian country challenging americas status as the world s largest economy. Angus maddison statistics of the ten largest economies by. The report, published by pricewaterhousecoopers, finds. The imf publishes a range of time series data on imf lending, exchange rates and other economic and financial indicators. It possesses about 16% of the world s proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in opec. In our latest world in 2050 report we present economic growth projections for 32. The world economy is projected to grow at an average rate of just over 3% per annum from 2011 to 2050, doubling in size by 2032.
In 2019, turkey ranked 19th with an estimated gdp of about 743. His forecast which also sees china becoming the biggest economy. Turkey to become 5th largest economy in the world by 2030. The united states remains the world s largest economy, but china is expected to take first place by 2032. By the year 2030, china will become the largest economy in the world. We spoke to residents living in five countries with hypergrowth. In our latest world in 2050 report we present economic growth projections for 32 of the largest economies in the world, accounting for around 84% of global gdp. These will be the 32 most powerful economies in 2030 the. Asian countries are still maintaining gdp growth of 48% depending upon the country. With the rise of china thats changing again and this infographic explores the story of balance and. If measured instead by gdp at market exchange rates, the uk could fall from 5 th to 9 th place by. Home maddison groningen growth and development centre.