Possibly the biggest surprise on the list is Egypt, a country that Standard Chartered sees growing at a torrid pace over this timeframe.
ByIndia will be the second largest economy in PPP terms according to many different models — and by then, it will also be the most populous country in the world as well. With the divide between emerging and developed economies closing at a seemingly faster rate than ever before, this should be seen as an interesting opportunity for all investors taking a long-term view.
Get your mind blown on a daily basis:. In just a few months, the U. As real change in GDP suffered, which states and industries were the hardest-hit? While all states experienced a decline, the effects were not distributed equally across the nation. This visualization takes a look at the latest data from the Bureau of Economic Analysisuncovering the biggest declines across states, and which industries were most affected by COVID related closures and uncertainty.
Between March-Junestay-at-home orders resulted in disruptions to consumer activity, health, and the broader economy, causing U. GDP to fall by The U. Note: Industry changes are reported in percentage points p. Highly dependent on tourism, Hawaii bore the brunt of decline in this industry with a The most resilient industry amid the pandemic was Financial Services. Looking at it another way, the worst-performing state by industry also becomes clear when the change in percentage points p.
Of the 21 industries profiled, Nevada shows up in the lower end of the spectrum four times.
With many U. The Dow Jones Industrial Average is constantly evolving. This chart tracks which companies have come and gone since the inception of the index in View the high resolution of this infographic by clicking here.The long view: how will the global economic order change by ? Please download our full report for more in-depth analysis of these policy issues. Our report, which can be downloaded in full belowalso considers the opportunities for business:. By submitting your email address, you acknowledge that you have read the Privacy Statement and that you consent to our processing data in accordance with the Privacy Statement including international transfers.
If you change your mind at any time about wishing to receive the information from us, you can send us an email message using the Contact Us page. The megatrends: what are they and how are they affecting you? PwC's Macroeconomics team presents the Global Economy Watch, a short publication that looks at the trends and issues that are affecting the global economy.
Bringing fresh insights to economics, strategy and business. What does FinTech mean for financial services organisations: innovation, disruption, opportunity - or all of them? All rights reserved. Please see www. The World in The long view: how will the global economic order change by ? The World in report was published in February While we think that the discussion of long term trends in the report remains of interest, it does not take account of major events since that date, including in particular the recent global COVID pandemic.
Explore the World in Click to share:. Key projections. Click to share. Challenges for policymakers Our analysis also identifies a number of key challenges for policy-makers, including: Avoid a slide back into protectionism, which history suggests would be bad for global growth in the long run Ensuring that the potential benefits of globalisation are shared more equally across society Developing new green technologies to ensure that long-term global growth is environmentally sustainable Please download our full report for more in-depth analysis of these policy issues.
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List of countries by GDP (nominal)
PPP: gross domestic product at purchasing power parity adjusts for price level differences across countries, providing a better measure of the volume of goods and services produced. All GDP projections are expressed in real terms at constant values.
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PwC office locations Site map Contact us.Since the end of the Cold War, the world has seen an opening up of global markets. As a result of this, state economies have become increasingly interdependent, to the point where it is almost impossible to survive with an inward facing economy.
This increase in interdependence has also come with a significant reduction in international conflict, and overall growth of prosperity across the globe, particularly in fledgling economies just plugging into global markets. The rise of these new economies and the leveling out of former giants is not a new phenomenon. The same cyclical process which now catapults countries like India into prosperity is the very same one that raised up Europe through increased trade with the Orient, and set America up as a superpower during the 20 th century.
Analysts live and breathe to observe and make predictions, and so it is no surprise that they have watched these trends and are offering projections for where this great, economic super-cycle will lead next. Trends indicate that while the economies of highly developed nations won't necessarily stop growing, they stand to be outstripped by developing nations that are just now starting to come out on top of the modern economic landscape.
The following list of the top ten economies ofas ranked by GDP, is based upon these analysts' predictions, so it is just that: a prediction. It is entirely possible that within the next two decades, a series of natural disasters, unexpected wars, or new financial blunders will completely change the economic order. That said, based on current growth, demands, resource availabilities, and demographics, these predictions are fairly reliable measures of what might be waiting around the economic corner.
Russia currently holds eighth place, and is predicted to drop two within the next 20 years. In the late 80s and through the 90s after the fall of the Soviet Union, most of Russia's industries opened up to private investors, except for a few, like the energy and defense sectors. Thanks in great part to these industries and their exports to Europe, Russia has recovered decently well from the global financial crisis.
However, despite being a massive producer of energy and oil, there isn't anything that makes the Russian economy stand out. This being the case, it is unlikely that the Russian economy will see massive growth in coming years. Of course, that is barring any potential surges in the demand for vodka cocktails.
Indonesia is the largest economy of Southeast Asia, and is home to many state-owned industries. This nationalisation was a result of huge reforms in the wake of the Asian financial crisis, of which Indonesia was one of the countries most affected.
Indonesia recently passed India as the second fastest growing economy in the world. That trend has continued thanks to increased foreign investment, a result of deregulation. Not only that, but Indonesia continues to modernize its growing oil, mining, and gas industries, all of which are increasingly lucrative in the fast-growing global economy. Given these strong advantages, it is unsurprising that Indonesia is predicted to be on its way into the top ten.
As mentioned, developed nations are not predicted to perform poorly in coming years -just not as competitively as the new kids on the block. France is a great example of this. Though not as badly hit by the global recession as many other European countries, it was far from unaffected, and still faces issues.
France continues strong trade relations across the world, exporting a great deal of developed goods, such as chemicals and machinery. Uniquely, however, agriculture and tourism play much larger roles in France's economy than many other developed nations. Because of this, France is not predicted to be as competitive in modern markets, which are focused on the tech and service industries.Ranking the top 10 largest economies in the world in is no easy task.
Do we rank countries by GDP, or is there more to get a clearer picture of assessing the most dominant economies in the world now, and looking ahead. Just how big are the countries mentioned on this list? When factoring in the gross domestic product based on purchasing power parity, by both China and India will become the two largest economies in the world, with the US third.
The power of economies is very important as it engages investment, trade, and business opportunities all over the world. The following is a list of the top 20 largest economies in the world in and beyond. Expect to gain insights on the following:. What is the largest economy in the world in ?
Sincethe USA has retained its position as the largest economy in the world. The USA is known for being one of the most technologically powerful economies in the world and its firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment. Ranking 2 nd on this list of the top 20 biggest economies in the world is China, an economy the has transitioned from a centrally-planned system to a more market-oriented economy since China has broken from a centrally planned economy that used to struggle to the manufacturing and exporting hub of the world.
China has a gross domestic product based on purchasing power parity of USD How did China become one of the fastest-growing economies in the world in ? Japan ranks 3 rd on our list of the top 20 largest economies in the world in The stimulus from the Olympics was supposed to add investments back into the economy after a rough stretch due to the earthquake and recession, however, that is yet to be seen due to the derailment of the Olympics due to the COVID pandemic.
The economy of Japan is a highly developed free-market economy. Facing competition from China, South Korea, and Vietnam, Japan now focuses on high-tech and precision goods, such as optical instruments, hybrid vehicles, and robotics.
The Top 20 Economies in the World
Germany ranks 4 th on this list of the top economies in the world. The economy of Germany is a highly developed social market economy. The German economy is dependent upon capital good exports, which suffered a setback post financial crisis. Germany has the largest national economy in Europe.
Why is the German economy so big? Despite being characterized as a developing market economy, India is showing no slowing down in economic growth. From toIndian was the fastest-growing major economy in the world only, behind China. What makes Indian one of the biggest economies in the world in ? The long-term growth prospective of the Indian economy remains positive due to its young population and corresponding low dependency ratio, healthy savings, and investment rates, and its increasing integration into the global economy.
Ranking 6 th on this list of the top 20 largest economies in the world is the United Kingdom. Why is the UK economy so big? The UK was the tenth-largest goods exporter in the world and the fifth-largest goods, importer. The economy of France is highly developed and free-market-oriented. The chemical industry is a key sector for France, helping to develop other manufacturing activities and contributing to economic growth. Italy ranks 8 th on this list of the top 10 largest economies in the world in Why is the Italian economy so big?The different phases of economic cycles toss economies around the world.
When compared to the top 20 economies of17 are still present on the list, which means only three new entrants. In addition to the key players remaining almost the same, this analysis reveals these economies are the engine of growth, commanding a majority of the global wealth. The U. The size of the U.
Top 20 Largest Economies in the World 2020, Biggest Economies in the World
When the economies are assessed in terms of purchasing power parity, the U. Inthe U. The gap between the size of the two economies in terms of nominal GDP is expected to lessen by ; the U. China has experienced exponential growth over the past few decades, breaking the barriers of a centrally-planned closed economy to evolve into a manufacturing and exporting hub of the world.
China is often referred to as the "world's factory," given its huge manufacturing and export base. However, over the years, the role of services has gradually increased and that of manufacturing as a contributor to GDP has declined relatively.
In recent years, the pace of growth has slowed, although it remains high in comparison to its peer nations. The IMF projects a growth of 5. Over the years, the difference in the size of the Chinese and the U. The financial crisis of rocked the Japanese economy and it's been a challenging time for its economy since then. The global crisis triggered a recession, followed by weak domestic demand and huge public debt. When the economy was beginning to recover, it suffered a massive earthquake that hit the country socially and economically.
While the economy has broken the deflationary spiral, economic growth remains muted. Its economy will get some stimulus with the Olympics keeping the investment flow strong, which is backed by a lax monetary policy by the Bank of Japan. Germany is not just Europe's largest economy but also the strongest. The nation has been dependent upon capital good exports, which suffered a setback post financial crisis.
The economy grew by 2.
However, the IMF says this slipped to 1. To bolster its manufacturing strength in the current global scenario, Germany has launched Industrie 4. India has become the fifth-largest economy inovertaking the United Kingdom and France. India's growth rate is expected to rise from 7. Manufacturing remains as one of its crucial sectors and is being given due push via the governments' initiatives, such as "Make in India.
The economy's strength lies in a limited dependence on exports, high saving rates, favorable demographics, and a rising middle class. When compared in terms of GDP purchasing-power-parity, U. Starting from untilthe economy of the U. However, it witnessed a decline in its output for five consecutive quarters starting April The economy of the U.
In recent years, the economic growth has slowed, resulting in unemployment that has placed immense pressure on the government to reboot the economy. Duringit declined to 9. In addition to tourism, which remains very important for its economy, France is a leading agricultural producer, accounting for about one-third of all agricultural land within the European Union. France is the world's sixth-largest agricultural producer and the second-largest agricultural exporter, after the United States.
The manufacturing sector is primarily dominated by the chemical industry, automotive, and armament industries.Gross domestic product GDP is the market value of all final goods and services from a nation in a given year.
Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Comparisons of national wealth are also frequently made on the basis of purchasing power parity PPPto adjust for differences in the cost of living in different countries.
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international tradedoes not take into account the differences of quality of goods and services among countries, and it also requires more estimation than nominal GDP. Although the rankings of national economies have changed considerably over time, the United States has maintained its top position since the Gilded Agea time period in which its economy saw rapid expansion, surpassing the British Empire and Qing dynasty in aggregate output.
It was the largest fromwhen ten countries joined the union toafter which it was surpassed by the United States. The first list includes estimates compiled by the International Monetary Fund 's World Economic Outlookthe second list shows the World Bank 's data, and the third list includes data compiled by the United Nations Statistics Division.
The IMF definitive data for the past year and estimates for the current year are published twice a year in April and October. Non-sovereign entities the world, continents, and some dependent territories and states with limited international recognition such as Kosovothe State of Palestine and Taiwan are included in the list in cases in which they appear in the sources.
These economies are not ranked in the charts here, but are listed in sequence by GDP for comparison. In addition, non-sovereign entities are marked in italics. From Wikipedia, the free encyclopedia. Wikipedia list article. This article has multiple issues. Please help improve it or discuss these issues on the talk page. Learn how and when to remove these template messages. This article may be confusing or unclear to readers.
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Statements consisting only of original research should be removed. This article has been nominated to be checked for its neutrality. Discussion of this nomination can be found on the talk page. International Monetary Fund. Retrieved 3 September Retrieved 23 May Retrieved 31 May National Bureau of Economic Research. Retrieved 30 May Looking forward to Biostats 2. This was a highly interactive course with a first rank expert in his topic who, fortunately, was also good communicator who likes teachingThis course is well designed and the course materials are simply awesome.
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