The World's Biggest Economies in 2018

With $20.5 trillion in his account, the United States is the worlds largest economy, as per the data provided by the IMF (International Monetary Fund). This states that the US has experienced a growth by $1 trillion as compared to 2017.

China is the one behind US, with $14 trillion, showing an increment of more than $2 trillion as compared to the last year. Japan is holding the 3rd place with an economic evaluation of $ 5.2 trillion, experiencing an up from $4.85 trillion of last year.

Based on the data from the International Monetary Fund 2018

Country Value(in trillions)
2. CHINA 14
3. JAPAN 5.2
4. GERMANY 4.3
6. FRANCE 2.92
7. INDIA 2.85
8. ITALY 2.17
9. BRAZIL 2.14
10. CANADA 1.8

The next three countries following Japan are the European countries. Germany is holding the 4th place with an economy of $4.3 trillion, the UK is in 5th place having worth $2.95 trillion and France is in 6th with a total of $2.92 trillion.

In 7th place comes India, close behind the UK and France, India's economy in the year 2018 is $2.85 trillion. Italy is holding the 8th position with an economy of $2.17 trillion. With an economy of $2.14 trillion, Brazil is in 9th position in the list. And concluding the list Canada is holding 10th rank with a $1.8 trillion evaluation.

In the year 2018 also the US is dominating the world economy. It is larger than the combined economies of number 4th to 10th on the list above. US alone accounts for more than one-quarter of the total world economy as the global economy is said to be of $79.90 trillion.

India and China predicted to a deluge.

As per the World Bank, the global economy is going to grow by $6.6 trillion between 2017 and 2019. The US will be accounting for 17.8% of this growth. Whereas China is said to account for almost double of this at 35.3%.

A boom is being also experienced in China's digital economy. As it was less than 1% of the global e-commerce business about a decade ago and at present, it holds 42% in the business. While the US has experienced a down to 24% from 35% share in the last decade.

China will also overtake the US economy by 2050, as per the report by professional service firm PricewaterhouseCoopers (PwC), which also states that India will be ahead of US economy too.
The PwC report says that China, India, and the US will be accounting for $58.4 trillion, $44.1 trillion, $34 trillion respectively by 2050.

Also, Japan ($6.6trillion), Germany ($6.2trillion), the United Kingdom ($5.4trillion) and France ($4.8trillion) are expected to experience a downfall to 8th, 9th, 10th and 12th in the economy list respectively.

Countries replacing them will be  Indonesia ($10.5trillion), Brazil ($7.5trillion), Russia ($7.1trillion), and Mexico ($6.8trillion), climbing to 4th, 5th, 6th, and 7th position respectively.

Narendar Singh.


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