The Predictions For The World's 10 Largest Economies In 2030 Are Quite Surprising
According to predictions, seven out of 10 of the world's biggest economies in 2030 will be from emerging markets. One country, in particular, may leap from 21st to an astounding 7th place.
Using data from a recent report from Standard Chartered, business news site Visual Capitalist has created a chart that visualizes the world's top 10 biggest economies in 2030 and juxtaposed them with their world ranking in 2017 according to the IMF. The size of these economies is measured by the countries' GDP (PPP).
According to Standard Chartered's predictions, there's not going to be that much change when it comes to the top three largest economies in the world. China will remain the world's largest economy in 2030, although India will surpass the US to become the world's second-biggest.
While the ascendance of developing economies such as Indonesia and Turkey to the No. 4 and No. 5 spots is certainly worth noting, the most surprising thing about Standard Chartered's report is perhaps its projections regarding Egypt. Despite the fact that data from the IMF has Egypt being placed 21st in the world in 2017 in terms of its GDP, Standard Chartered predicts that the country will rise to 7th in 2030. The difference between Egypt's 2017 GDP — $1.2 trillion in international dollars — and its projected GDP in 2030 — $8.2 trillion — is an astounding 583%.
Here's what Standard Chartered's economists have to say about their projections:
Our long-term growth forecasts are underpinned by one key principle: countries' share of world GDP should eventually converge with their share of the world's population, driven by the convergence of per-capita GDP between advanced and emerging economies
[Read more at Visual Capitalist]
