The 10 largest economies in the world … 2020 forecast
In recent years, expectations have increased that China will remove its rival America from the top of the largest economy in the world in 2020, but it seems that these expectations were exaggerated.
The United States ended 2019 at the top of the list of the world’s largest economies with a “projected” GDP of $ 21.5 trillion, according to Investopedia.
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According to the International Monetary Fund, US gross domestic product is expected to continue to rise to $ 22.3 trillion in 2020. While the Chinese economy has not outperformed its US counterpart, it is still growing at a faster rate than that of the United States.
The Fox Economics Center expects Chinese GDP to reach $ 14.2 trillion in 2019.
While the International Monetary Fund expects China to remain the second largest economy in the world during 2020, with a total output of $ 15.3 trillion.
Japan ranked third among the world’s largest economies, with a total output of $ 5.2 trillion in 2019 and about $ 5.4 trillion in 2020.
And in fourth place is Germany, with an expected GDP of $ 4.2 trillion in 2019, and an estimated $ 4.5 trillion in 2020.
Fifthly, Britain came with a GDP of $ 3 trillion in 2019, and expectations that it will reach $ 3.2 trillion in 2020.
As for India, it came sixth (2019), with a total output of $ 2.9 trillion in 2019, and it will become (fifth) in 2020 with a total output of $ 3.3 trillion.
The figures show that the Indian economy is the fastest growing in the list of the 10 largest economies in the world.
Seventh, France came with a total output of $ 2.9 trillion in 2019, and an estimated $ 3.1 trillion in 2020.
In eighth place is Italy, which is expected to achieve $ 2.2 trillion in total output in 2019, with the number rising to $ 2.3 trillion in 2020.
In ninth place, Brazil came with a total output of $ 2.1 trillion in 2019, and an estimated $ 2.2 trillion in 2020.
Tenth, Canada generated a total of $ 1.8 trillion in 2019 and an estimated $ 1.9 trillion in 2020.
It is noted that the top four in this list are still holding their positions for the fifth year in a row.
This indicates that the different stages of economic cycles and the volatility of economies around the world will not easily shift from their positions.