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Ranked: The Top Economies in the World (1980‒2075) – Visual Capitalist

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top economies in the world

Visualizing the Top Economies in the World

According to a recent report from Goldman Sachs, the balance of global economic power is projected to shift dramatically in the coming decades.

In the graphic above, we’ve created a bump chart that provides a historical and predictive overview of the world’s top 15 economies at several milestones: 1980, 2000, 2022, and Goldman Sachs projections for 2050 and 2075.

Projections and Highlights for 2050

The following table shows the projected top economies in the world for 2050. All figures represent real GDP projections, based on 2021 USD.

Rank Country Real GDP in 2050 (USD trillions)
1 ???????? China $41.9
2 ???????? US $37.2
3 ???????? India $22.2
4 ???????? Indonesia $6.3
5 ???????? Germany $6.2
6 ???????? Japan $6.0
7 ???????? UK $5.2
8 ???????? Brazil $4.9
9 ???????? France $4.6
10 ???????? Russia $4.5
11 ???????? Mexico $4.2
12 ???????? Egypt $3.5
13 ???????? Saudi Arabia $3.5
14 ???????? Canada $3.4
15 ???????? Nigeria $3.4

A major theme of the past several decades has been China and India’s incredible growth. For instance, between 2000 and 2022, India jumped eight spots to become the fifth largest economy, surpassing the UK and France.

By 2050, Goldman Sachs believes that the weight of global GDP will shift even more towards Asia. While this is partly due to Asia outperforming previous forecasts, it is also due to BRICS nations underperforming.

Notably, Indonesia will become the fourth biggest economy by 2050, surpassing Brazil and Russia as the largest emerging market. Indonesia is the world’s largest archipelagic state, and currently has the fourth largest population at 277 million.

The Top Economies in the World in 2075

The following table includes the underlying numbers for 2075. Once again, figures represent real GDP projections, based on 2021 USD.

Rank Country Real GDP in 2075 (USD trillions)
1 ???????? China $57.0
2 ???????? India $52.5
3 ???????? US $51.5
4 ???????? Indonesia $13.7
5 ???????? Nigeria $13.1
6 ???????? Pakistan $12.3
7 ???????? Egypt $10.4
8 ???????? Brazil $8.7
9 ???????? Germany $8.1
10 ???????? UK $7.6
11 ???????? Mexico $7.6
12 ???????? Japan $7.5
13 ???????? Russia $6.9
14 ???????? Philippines $6.6
15 ???????? France $6.5

Projecting further to 2075 reveals a drastically different world order, with Nigeria, Pakistan, and Egypt breaking into the top 10. A major consideration in these estimates is rapid population growth, which should result in a massive labor force across all three nations.

Meanwhile, European economies will continue to slip further down the rankings. Germany, which was once the world’s third largest economy, will sit at ninth behind Brazil.

It should also be noted that China, India, and the U.S. are expected to have similar GDPs by this time, suggesting somewhat equal economic power. As a result, how these nations choose to engage with one another is likely to shape the global landscape in ways that have far-reaching implications.

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Economy

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

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OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

The Canadian Press. All rights reserved.

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Economy

How will the U.S. election impact the Canadian economy? – BNN Bloomberg

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How will the U.S. election impact the Canadian economy?  BNN Bloomberg

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Economy

Trump and Musk promise economic 'hardship' — and voters are noticing – MSNBC

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Trump and Musk promise economic ‘hardship’ — and voters are noticing  MSNBC

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