Emerging markets will start to dominate rankings of the world's top economies by 2030, according to a report published earlier this year.
The report, published by PricewaterhouseCoopers, finds that emerging markets such as India and Brazil will increasingly challenge the economic dominance of the USA and China, while others slip behind.
The report ranks countries by their projected global gross domestic product by purchasing power parity (PPP). PPP is a model which describes the purchasing power and therefore value, of a given currency.
PPP is a model which describes the purchasing power and therefore value, of a given currency.
Let's see which countries that hit the rank and on top of all of 21 nations that are listed, you sure wouldn't believe that there is one country from this region is included.
21. Nigeria — $1.794 trillion
20. Pakistan — $1.868 trillion
19. Egypt — $2.049 trillion
18. Canada — $2.141 trillion
17. Spain — $2.159 trillion
16. Iran — $2.354 trillion
15. Italy — $2.541 trillion
14. South Korea — $2.651 trillion
13. Saudi Arabia — $2.755 trillion
12. Turkey — $2.996 trillion
11. France — $3.377 trillion
10. United Kingdom — $3.638 trillion
9. Mexico — $3.661 trillion
8. Brazil — $4.439 trillion
7. Germany — $4.707 trillion
6. Russia — $4.736 trillion
5. INDONESIA — $5.424 trillion
According to a professional body ICAS last year, Asia will remain the fastest growing region of the world overall, with Indonesia on course to become the world’s 16th trillion dollar economy, drawing some attention away from the traditional hubs of China and India.
It's not surprising though that this one and only nation in the region could project more towards 2030.
4. Japan — $5.606 trillion
3. India — $19.511 trillion
2. United States — $23.475 trillion
1. China — $38.008 trillion
Note: All numbers cited above are in US dollars and at constant values (for reference, the US's current PPP is $18.569 trillion)
Source : The Independent UK
