Top 10 Upcoming World Economies

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The US has retained its pole position as the largest economy with a GDP of $13.8 trillion in spite of the ill-fated slump. Following are names of the largest countries in terms of their GDP.

 

1. The United States

The United States

The United Stated with a GDP of $13.8 trillion is the world’s No.1. A growth of 1 percent was registered by the US economy in the first quarter. However, the U.S has also been badly affected by recession. By June 2008, the economy fell into a recession. About 2.6 million Americans lost their jobs in 2008, the worst since the end of World War II.

 

2. Japan

Japan

With a GDP of $4.37 trillion, Japan is the second largest economy in the world. However it moved further into recession in the fourth quarter as it suffered a great fall in exports. Japan’s GDP has fallen at an annual rate of 0.4 per cent from July to September 2008, marking the second consecutive quarter of negative growth. According to Bank of Japan, the economy will suffer a setback of 1.8 per cent this financial year.

 

3. China

China

China has moved ahead of Germany to become the world’s third largest economy after the United States and Japan. It witnessed a growth rate in GDP to the extent of 13 per cent in 2007. China revised the growth rate of its gross domestic product (GDP) for 2007 to 13 per cent from 11.9 per cent. As per the final verification the GDP totaled $3.76 trillion. However China has also been impacted by recession to a great extent.

 

4. Germany

Germany

After holding the third position for several years, recently Germany has been pushed to the 4th position. Its GDP stands at $3.29 trillion. German economy’s GDP fell owing to falling exports by half a percent in July, August and September, which was the second straight quarter of decline. The European economy also witnessed its first recession in 15 years. Europe is facing the worst financial crisis since the great depression. The GDP in the 15 euro nations sank by 0.2 per cent during August, September and October 2008.

 

5. United Kingdom

United Kingdom

United Kingdom, the fifth largest economy fell by 0.5 per cent July and September. Its GDP stood at $2.72 trillion. The economy shrank in the third quarter for the first time since 1992.

 

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