Top 10 Largest Economies By 2050, List Of Top 10 Biggest Economies By 2050

In today’s time, we can see the world economy is changing at a very rapid pace. Countries which were considered the poorest in the world are now developing so fast that they are giving tough competition to the developed world.

One of the shining examples is China in the last few decades it is continuously outperforming developed countries in various fields and came in a position to become with other countries are also on the same path it is sure that in the future they will eventually become dominant.

Some countries will get richer by 2050 while others will find themselves in a financial mess. The world will be a lot different in 2050 than it is now.

Accountancy firm PricewaterhouseCoopers (PwC) tried to rank 32 of the world’s largest economies in the year 2050 based on GDP at Purchasing Power Parity (PPP), which reflects a country’s economic productivity and standards of living.

Here Are the Top 10 Largest Economies By 2020 Based On GDP(PPP) Data:

The United Kingdom was the first country in the world to start modern industrialization which made them a dominant world power but now they have lost most of their glory.

In the future economically this country will slip to 10th position in 2050 from its ninth position in 2020 but its GDP will slowly rise to $5.369 trillion from$3.1 trillion this year.

After huge losses in the past Germany is one of the countries that has become a leader in the high-end technological field and become a great power with its GDP mostly composed of exporting these high-end products.

In 2020 Germany has a GDP of $4.5 trillion and ranks 5th globally, but in 2050 its rank will go down to 9th position with a GDP of $6.138 trillion.

Japan is famous for its hardworking and intelligent population and considered as a hub for futuristic technologies such as robotics and artificial intelligence and also a leader in global car manufacturing alongside with Germany.

in 2020 Japan is the fourth-largest economy in the world with a GDP of $5.75 trillion but with a large aging population it will grow slowly which will eventually slide Japan’s global rank to 8th positions in its GDP will see an increment to $6.779 trillion.

Mexico only Latin American country which has established itself as a major economic power as Mexico manufactures and exports the same amount of goods as the rest of Latin America combined.

In 2020 Mexico is the 11th largest economy in the world and in the year of 2050, it will become the 7th largest economy with a GDP of $6.863 trillion dollars from its $2.6 trillion dollar GDP of this year.

Russia is currently considered as a great power as it has major military strength and superiority and technological fields. Russia has one of the largest sources of natural resources in the world as it is the largest country in the world by land mines this year.

In 2020 Russia has a GDP of $4.3 trillion dollars which makes it the sixth-largest economy in the world and it will remain at this position until 2050 with a staggering GDP of $7.131 trillion.

Brazil is the only South American country on this list and it has the largest economy in that region. It is great tourism industry, as well as the manufacturing industry. In the past Brazil’s economy was one of the fastest-growing but its economy has become a middle-income trapped economy with low foreign investments.

In 2020 Brazil has a GDP of $3.5 trillion dollars which is the largest in the world and it projects that in Brazil starts to become stable again it will breach a GDP of $7.540 trillion which will make Brazil the fifth-largest economy in 2050.

Indonesia has the largest economy in Southeast Asia and is one of the emerging market economies of the world. The country is also a member of g20 and classified as a newly industrialized country with an average growth rate of 5.0 percent in the last year.

Currently, Indonesia is the seventh-largest economy in the world with a GDP of $3.8 trillion but its economy hugely depends on domestic consumption. But experts say that it will change in Indonesia will become the fourth-largest economy in 2050 with a GDP of $10.502 trillion.

As we know the United States is one of the largest economies in the world and its economy is based on technological innovations with a high amount of experts and domestic consumption of these technologically advanced products such as semiconductors software weapons and cars.

In 2020 U.S had a GDP of $21.3 trillion which is the 2nd largest in the world but in the future, this rank will slip to third place with a rise in GDP to 34.102 trillion in 2050.

2.India ($44.128 trillion)

In the last few decades, majorly from the year 1991 India is growing at a very fast pace with an average GDP growth rate of 6.7 in the last twenty years, and from 2014, it has also become the fastest-growing major economy in the world. This growth is majorly driven by the large population of India that is 1.3 billion and a hub for large foreign direct investments.

In 2020 India is the 3rd largest economy in the world with a GDP of $11.4 trillion and it will continue to grow and become the second-largest economy by 2050 with a GDP of $44.128 trillion.

1.China ($58.499 trillion)

China is currently the largest exporter of goods around the world from mobile phones to industrial machinery. It has every area covered and it is mostly called as a world Factory. China has also surpassed the USA as the largest economy in the world in 2014. Experts say China will be the next Superpower in few coming years.

In 2020 China is the world’s faster-growing economy with a GPA of $27.31 trillion and it will remain the largest economy in 2050 with a GDP of $58.499 trillion.

Originally published at https://www.dwnewsspot.com on November 17, 2020.