{"id":1395995,"date":"2023-08-11T03:20:00","date_gmt":"2023-08-11T07:20:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1395995"},"modified":"2023-08-11T03:20:00","modified_gmt":"2023-08-11T07:20:00","slug":"visualizing-the-105-trillion-world-economy-in-one-chart","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/visualizing-the-105-trillion-world-economy-in-one-chart\/1395995\/","title":{"rendered":"Visualizing The $105 Trillion World Economy In One Chart"},"content":{"rendered":"

Visualizing The $105 Trillion World Economy In One Chart<\/span><\/p>\n

\n

By the end of 2023, the world economy is expected to have a gross domestic product (GDP) of $105 trillion, <\/strong>or $5 trillion higher than the year before, according to the latest International Monetary Fund (IMF) projections from its\u00a02023 World Economic Outlook<\/a>\u00a0report.<\/p>\n

In nominal terms, that\u2019s a 5.3% increase in global GDP. In inflation-adjusted terms, that would be a 2.8% increase.<\/p>\n

As Visual Capitalist’s Pallavi Rao details below,<\/a> the year started with turmoil for the global economy, with financial markets rocked by the collapse of several mid-sized U.S. banks alongside persistent inflation and tightening monetary conditions in most countries. Nevertheless, some economies have proven to be resilient, and are expected to register growth from 2022.<\/p>\n

<\/a><\/p>\n

\u2139\ufe0f\u00a0Gross Domestic Product (GDP)<\/strong>\u00a0measures the total value of economic output\u2014goods and services\u2014produced within a given time frame by both the private and public sectors. All numbers used in this article, unless otherwise specified, are\u00a0nominal<\/strong>\u00a0figures, and do not account for inflation.<\/em><\/p>\n

\u00a0<\/p>\n

Ranking Countries by Economic Size in 2023<\/h2>\n

The\u00a0U.S.<\/strong>\u00a0is expected to continue being the biggest economy in 2023 with a projected GDP of $26.9 trillion for the year. This is more than the sum of the GDPs of\u00a0174 countries<\/em>\u00a0ranked from Indonesia (17th) to Tuvalu (191st).<\/p>\n

China<\/strong>\u00a0stays steady at second place with a projected $19.4 trillion GDP in 2023. Most of the top-five economies remain in the same positions from 2022, with one notable exception.<\/p>\n

India<\/strong>\u00a0is expected to climb past the UK to become the fifth-largest economy with a projected 2023 GDP of $3.7 trillion.<\/p>\n

Here\u2019s a look at the size of every country\u2019s economy in 2023, according to IMF\u2019s estimates.<\/p>\n

Rank
\n\t\t\tCountry
\n\t\t\tGDP (USD)
\n\t\t\t% of Total
\n\t\t1
\n\t\t\t\ud83c\uddfa\ud83c\uddf8 U.S.
\n\t\t\t$26,855B
\n\t\t\t25.54%
\n\t\t2
\n\t\t\t\ud83c\udde8\ud83c\uddf3 China
\n\t\t\t$19,374B
\n\t\t\t18.43%
\n\t\t3
\n\t\t\t\ud83c\uddef\ud83c\uddf5 Japan
\n\t\t\t$4,410B
\n\t\t\t4.19%
\n\t\t4
\n\t\t\t\ud83c\udde9\ud83c\uddea Germany
\n\t\t\t$4,309B
\n\t\t\t4.10%
\n\t\t5
\n\t\t\t\ud83c\uddee\ud83c\uddf3 India
\n\t\t\t$3,737B
\n\t\t\t3.55%
\n\t\t6
\n\t\t\t\ud83c\uddec\ud83c\udde7 UK
\n\t\t\t$3,159B
\n\t\t\t3.00%
\n\t\t7
\n\t\t\t\ud83c\uddeb\ud83c\uddf7 France
\n\t\t\t$2,923B
\n\t\t\t2.78%
\n\t\t8
\n\t\t\t\ud83c\uddee\ud83c\uddf9 Italy
\n\t\t\t$2,170B
\n\t\t\t2.06%
\n\t\t9
\n\t\t\t\ud83c\udde8\ud83c\udde6 Canada
\n\t\t\t$2,090B
\n\t\t\t1.99%
\n\t\t10
\n\t\t\t\ud83c\udde7\ud83c\uddf7 Brazil
\n\t\t\t$2,081B
\n\t\t\t1.98%
\n\t\t11
\n\t\t\t\ud83c\uddf7\ud83c\uddfa Russia
\n\t\t\t$2,063B
\n\t\t\t1.96%
\n\t\t12
\n\t\t\t\ud83c\uddf0\ud83c\uddf7 South Korea
\n\t\t\t$1,722B
\n\t\t\t1.64%
\n\t\t13
\n\t\t\t\ud83c\udde6\ud83c\uddfa Australia
\n\t\t\t$1,708B
\n\t\t\t1.62%
\n\t\t14
\n\t\t\t\ud83c\uddf2\ud83c\uddfd Mexico
\n\t\t\t$1,663B
\n\t\t\t1.58%
\n\t\t15
\n\t\t\t\ud83c\uddea\ud83c\uddf8 Spain
\n\t\t\t$1,492B
\n\t\t\t1.42%
\n\t\t16
\n\t\t\t\ud83c\uddee\ud83c\udde9 Indonesia
\n\t\t\t$1,392B
\n\t\t\t1.32%
\n\t\t17
\n\t\t\t\ud83c\uddf3\ud83c\uddf1 Netherlands
\n\t\t\t$1,081B
\n\t\t\t1.03%
\n\t\t18
\n\t\t\t\ud83c\uddf8\ud83c\udde6 Saudi Arabia
\n\t\t\t$1,062B
\n\t\t\t1.01%
\n\t\t19
\n\t\t\t\ud83c\uddf9\ud83c\uddf7 T\u00fcrkiye
\n\t\t\t$1,029B
\n\t\t\t0.98%
\n\t\t20
\n\t\t\t\ud83c\udde8\ud83c\udded Switzerland
\n\t\t\t$870B
\n\t\t\t0.83%
\n\t\t21
\n\t\t\t\ud83c\uddf9\ud83c\uddfc Taiwan
\n\t\t\t$791B
\n\t\t\t0.75%
\n\t\t22
\n\t\t\t\ud83c\uddf5\ud83c\uddf1 Poland
\n\t\t\t$749B
\n\t\t\t0.71%
\n\t\t23
\n\t\t\t\ud83c\udde6\ud83c\uddf7 Argentina
\n\t\t\t$641B
\n\t\t\t0.61%
\n\t\t24
\n\t\t\t\ud83c\udde7\ud83c\uddea Belgium
\n\t\t\t$624B
\n\t\t\t0.59%
\n\t\t25
\n\t\t\t\ud83c\uddf8\ud83c\uddea Sweden
\n\t\t\t$599B
\n\t\t\t0.57%
\n\t\t26
\n\t\t\t\ud83c\uddee\ud83c\uddea Ireland
\n\t\t\t$594B
\n\t\t\t0.57%
\n\t\t27
\n\t\t\t\ud83c\uddf9\ud83c\udded Thailand
\n\t\t\t$574B
\n\t\t\t0.55%
\n\t\t28
\n\t\t\t\ud83c\uddf3\ud83c\uddf4 Norway
\n\t\t\t$554B
\n\t\t\t0.53%
\n\t\t29
\n\t\t\t\ud83c\uddee\ud83c\uddf1 Israel
\n\t\t\t$539B
\n\t\t\t0.51%
\n\t\t30
\n\t\t\t\ud83c\uddf8\ud83c\uddec Singapore
\n\t\t\t$516B
\n\t\t\t0.49%
\n\t\t31
\n\t\t\t\ud83c\udde6\ud83c\uddf9 Austria
\n\t\t\t$515B
\n\t\t\t0.49%
\n\t\t32
\n\t\t\t\ud83c\uddf3\ud83c\uddec Nigeria
\n\t\t\t$507B
\n\t\t\t0.48%
\n\t\t33
\n\t\t\t\ud83c\udde6\ud83c\uddea UAE
\n\t\t\t$499B
\n\t\t\t0.47%
\n\t\t34
\n\t\t\t\ud83c\uddfb\ud83c\uddf3 Vietnam
\n\t\t\t$449B
\n\t\t\t0.43%
\n\t\t35
\n\t\t\t\ud83c\uddf2\ud83c\uddfe Malaysia
\n\t\t\t$447B
\n\t\t\t0.43%
\n\t\t36
\n\t\t\t\ud83c\uddf5\ud83c\udded Philippines
\n\t\t\t$441B
\n\t\t\t0.42%
\n\t\t37
\n\t\t\t\ud83c\udde7\ud83c\udde9 Bangladesh
\n\t\t\t$421B
\n\t\t\t0.40%
\n\t\t38
\n\t\t\t\ud83c\udde9\ud83c\uddf0 Denmark
\n\t\t\t$406B
\n\t\t\t0.39%
\n\t\t39
\n\t\t\t\ud83c\uddff\ud83c\udde6 South Africa
\n\t\t\t$399B
\n\t\t\t0.38%
\n\t\t40
\n\t\t\t\ud83c\uddea\ud83c\uddec Egypt
\n\t\t\t$387B
\n\t\t\t0.37%
\n\t\t41
\n\t\t\t\ud83c\udded\ud83c\uddf0 Hong Kong
\n\t\t\t$383B
\n\t\t\t0.36%
\n\t\t42
\n\t\t\t\ud83c\uddee\ud83c\uddf7 Iran
\n\t\t\t$368B
\n\t\t\t0.35%
\n\t\t43
\n\t\t\t\ud83c\udde8\ud83c\uddf1 Chile
\n\t\t\t$359B
\n\t\t\t0.34%
\n\t\t44
\n\t\t\t\ud83c\uddf7\ud83c\uddf4 Romania
\n\t\t\t$349B
\n\t\t\t0.33%
\n\t\t45
\n\t\t\t\ud83c\udde8\ud83c\uddf4 Colombia
\n\t\t\t$335B
\n\t\t\t0.32%
\n\t\t46
\n\t\t\t\ud83c\udde8\ud83c\uddff Czech Republic
\n\t\t\t$330B
\n\t\t\t0.31%
\n\t\t47
\n\t\t\t\ud83c\uddeb\ud83c\uddee Finland
\n\t\t\t$302B
\n\t\t\t0.29%
\n\t\t48
\n\t\t\t\ud83c\uddf5\ud83c\uddea Peru
\n\t\t\t$268B
\n\t\t\t0.26%
\n\t\t49
\n\t\t\t\ud83c\uddee\ud83c\uddf6 Iraq
\n\t\t\t$268B
\n\t\t\t0.25%
\n\t\t50
\n\t\t\t\ud83c\uddf5\ud83c\uddf9 Portugal
\n\t\t\t$268B
\n\t\t\t0.25%
\n\t\t51
\n\t\t\t\ud83c\uddf3\ud83c\uddff New Zealand
\n\t\t\t$252B
\n\t\t\t0.24%
\n\t\t52
\n\t\t\t\ud83c\uddf0\ud83c\uddff Kazakhstan
\n\t\t\t$246B
\n\t\t\t0.23%
\n\t\t53
\n\t\t\t\ud83c\uddec\ud83c\uddf7 Greece
\n\t\t\t$239B
\n\t\t\t0.23%
\n\t\t54
\n\t\t\t\ud83c\uddf6\ud83c\udde6 Qatar
\n\t\t\t$220B
\n\t\t\t0.21%
\n\t\t55
\n\t\t\t\ud83c\udde9\ud83c\uddff Algeria
\n\t\t\t$206B
\n\t\t\t0.20%
\n\t\t56
\n\t\t\t\ud83c\udded\ud83c\uddfa Hungary
\n\t\t\t$189B
\n\t\t\t0.18%
\n\t\t57
\n\t\t\t\ud83c\uddf0\ud83c\uddfc Kuwait
\n\t\t\t$165B
\n\t\t\t0.16%
\n\t\t58
\n\t\t\t\ud83c\uddea\ud83c\uddf9 Ethiopia
\n\t\t\t$156B
\n\t\t\t0.15%
\n\t\t59
\n\t\t\t\ud83c\uddfa\ud83c\udde6 Ukraine
\n\t\t\t$149B
\n\t\t\t0.14%
\n\t\t60
\n\t\t\t\ud83c\uddf2\ud83c\udde6 Morocco
\n\t\t\t$139B
\n\t\t\t0.13%
\n\t\t61
\n\t\t\t\ud83c\uddf8\ud83c\uddf0 Slovak
\n\t\t\tRepublic
\n\t\t\t$128B
\n\t\t\t0.12%
\n\t\t62
\n\t\t\t\ud83c\uddea\ud83c\udde8 Ecuador
\n\t\t\t$121B
\n\t\t\t0.12%
\n\t\t63
\n\t\t\t\ud83c\udde9\ud83c\uddf4 Dominican
\n\t\t\tRepublic
\n\t\t\t$121B
\n\t\t\t0.12%
\n\t\t64
\n\t\t\t\ud83c\uddf5\ud83c\uddf7 Puerto Rico
\n\t\t\t$121B
\n\t\t\t0.11%
\n\t\t65
\n\t\t\t\ud83c\uddf0\ud83c\uddea Kenya
\n\t\t\t$118B
\n\t\t\t0.11%
\n\t\t66
\n\t\t\t\ud83c\udde6\ud83c\uddf4 Angola
\n\t\t\t$118B
\n\t\t\t0.11%
\n\t\t67
\n\t\t\t\ud83c\uddf4\ud83c\uddf2 Oman
\n\t\t\t$105B
\n\t\t\t0.10%
\n\t\t68
\n\t\t\t\ud83c\uddec\ud83c\uddf9 Guatemala
\n\t\t\t$102B
\n\t\t\t0.10%
\n\t\t69
\n\t\t\t\ud83c\udde7\ud83c\uddec Bulgaria
\n\t\t\t$101B
\n\t\t\t0.10%
\n\t\t70
\n\t\t\t\ud83c\uddfb\ud83c\uddea Venezuela
\n\t\t\t$97B
\n\t\t\t0.09%
\n\t\t71
\n\t\t\t\ud83c\uddfa\ud83c\uddff Uzbekistan
\n\t\t\t$92B
\n\t\t\t0.09%
\n\t\t72
\n\t\t\t\ud83c\uddf1\ud83c\uddfa Luxembourg
\n\t\t\t$87B
\n\t\t\t0.08%
\n\t\t73
\n\t\t\t\ud83c\uddf9\ud83c\uddff Tanzania
\n\t\t\t$85B
\n\t\t\t0.08%
\n\t\t74
\n\t\t\t\ud83c\uddf9\ud83c\uddf2 Turkmenistan
\n\t\t\t$83B
\n\t\t\t0.08%
\n\t\t75
\n\t\t\t\ud83c\udded\ud83c\uddf7 Croatia
\n\t\t\t$79B
\n\t\t\t0.08%
\n\t\t76
\n\t\t\t\ud83c\uddf1\ud83c\uddf9 Lithuania
\n\t\t\t$78B
\n\t\t\t0.07%
\n\t\t77
\n\t\t\t\ud83c\udde8\ud83c\uddf7 Costa Rica
\n\t\t\t$78B
\n\t\t\t0.07%
\n\t\t78
\n\t\t\t\ud83c\uddfa\ud83c\uddfe Uruguay
\n\t\t\t$77B
\n\t\t\t0.07%
\n\t\t79
\n\t\t\t\ud83c\uddf5\ud83c\udde6 Panama
\n\t\t\t$77B
\n\t\t\t0.07%
\n\t\t80
\n\t\t\t\ud83c\udde8\ud83c\uddee C\u00f4te d’Ivoire
\n\t\t\t$77B
\n\t\t\t0.07%
\n\t\t81
\n\t\t\t\ud83c\uddf7\ud83c\uddf8 Serbia
\n\t\t\t$74B
\n\t\t\t0.07%
\n\t\t82
\n\t\t\t\ud83c\udde7\ud83c\uddfe Belarus
\n\t\t\t$74B
\n\t\t\t0.07%
\n\t\t83
\n\t\t\t\ud83c\udde6\ud83c\uddff Azerbaijan
\n\t\t\t$70B
\n\t\t\t0.07%
\n\t\t84
\n\t\t\t\ud83c\udde8\ud83c\udde9 DRC
\n\t\t\t$69B
\n\t\t\t0.07%
\n\t\t85
\n\t\t\t\ud83c\uddf8\ud83c\uddee Slovenia
\n\t\t\t$68B
\n\t\t\t0.06%
\n\t\t86
\n\t\t\t\ud83c\uddec\ud83c\udded Ghana
\n\t\t\t$67B
\n\t\t\t0.06%
\n\t\t87
\n\t\t\t\ud83c\uddf2\ud83c\uddf2 Myanmar
\n\t\t\t$64B
\n\t\t\t0.06%
\n\t\t88
\n\t\t\t\ud83c\uddef\ud83c\uddf4 Jordan
\n\t\t\t$52B
\n\t\t\t0.05%
\n\t\t89
\n\t\t\t\ud83c\uddf9\ud83c\uddf3 Tunisia
\n\t\t\t$50B
\n\t\t\t0.05%
\n\t\t90
\n\t\t\t\ud83c\uddfa\ud83c\uddec Uganda
\n\t\t\t$50B
\n\t\t\t0.05%
\n\t\t91
\n\t\t\t\ud83c\udde8\ud83c\uddf2 Cameroon
\n\t\t\t$49B
\n\t\t\t0.05%
\n\t\t92
\n\t\t\t\ud83c\uddf1\ud83c\uddfb Latvia
\n\t\t\t$47B
\n\t\t\t0.05%
\n\t\t93
\n\t\t\t\ud83c\uddf8\ud83c\udde9 Sudan
\n\t\t\t$47B
\n\t\t\t0.04%
\n\t\t94
\n\t\t\t\ud83c\uddf1\ud83c\uddfe Libya
\n\t\t\t$46B
\n\t\t\t0.04%
\n\t\t95
\n\t\t\t\ud83c\udde7\ud83c\uddf4 Bolivia
\n\t\t\t$46B
\n\t\t\t0.04%
\n\t\t96
\n\t\t\t\ud83c\udde7\ud83c\udded Bahrain
\n\t\t\t$45B
\n\t\t\t0.04%
\n\t\t97
\n\t\t\t\ud83c\uddf5\ud83c\uddfe Paraguay
\n\t\t\t$43B
\n\t\t\t0.04%
\n\t\t98
\n\t\t\t\ud83c\uddf3\ud83c\uddf5 Nepal
\n\t\t\t$42B
\n\t\t\t0.04%
\n\t\t99
\n\t\t\t\ud83c\uddea\ud83c\uddea Estonia
\n\t\t\t$42B
\n\t\t\t0.04%
\n\t\t100
\n\t\t\t\ud83c\uddf2\ud83c\uddf4 Macao
\n\t\t\t$36B
\n\t\t\t0.03%
\n\t\t101
\n\t\t\t\ud83c\udded\ud83c\uddf3 Honduras
\n\t\t\t$34B
\n\t\t\t0.03%
\n\t\t102
\n\t\t\t\ud83c\uddf8\ud83c\uddfb El Salvador
\n\t\t\t$34B
\n\t\t\t0.03%
\n\t\t103
\n\t\t\t\ud83c\uddf5\ud83c\uddec Papua
\n\t\t\tNew Guinea
\n\t\t\t$33B
\n\t\t\t0.03%
\n\t\t104
\n\t\t\t\ud83c\uddf8\ud83c\uddf3 Senegal
\n\t\t\t$31B
\n\t\t\t0.03%
\n\t\t105
\n\t\t\t\ud83c\udde8\ud83c\uddfe Cyprus
\n\t\t\t$31B
\n\t\t\t0.03%
\n\t\t106
\n\t\t\t\ud83c\uddf0\ud83c\udded Cambodia
\n\t\t\t$31B
\n\t\t\t0.03%
\n\t\t107
\n\t\t\t\ud83c\uddff\ud83c\uddfc Zimbabwe
\n\t\t\t$30B
\n\t\t\t0.03%
\n\t\t108
\n\t\t\t\ud83c\uddff\ud83c\uddf2 Zambia
\n\t\t\t$29B
\n\t\t\t0.03%
\n\t\t109
\n\t\t\t\ud83c\uddee\ud83c\uddf8 Iceland
\n\t\t\t$29B
\n\t\t\t0.03%
\n\t\t110
\n\t\t\t\ud83c\udde7\ud83c\udde6 Bosnia &
\n\t\t\tHerzegovina
\n\t\t\t$28B
\n\t\t\t0.03%
\n\t\t111
\n\t\t\t\ud83c\uddf9\ud83c\uddf9 Trinidad
\n\t\t\t& Tobago
\n\t\t\t$28B
\n\t\t\t0.03%
\n\t\t112
\n\t\t\t\ud83c\uddec\ud83c\uddea Georgia
\n\t\t\t$28B
\n\t\t\t0.03%
\n\t\t113
\n\t\t\t\ud83c\udded\ud83c\uddf9 Haiti
\n\t\t\t$27B
\n\t\t\t0.03%
\n\t\t114
\n\t\t\t\ud83c\udde6\ud83c\uddf2 Armenia
\n\t\t\t$24B
\n\t\t\t0.02%
\n\t\t115
\n\t\t\t\ud83c\uddec\ud83c\uddf3 Guinea
\n\t\t\t$23B
\n\t\t\t0.02%
\n\t\t116
\n\t\t\t\ud83c\udde7\ud83c\uddeb Burkina Faso
\n\t\t\t$21B
\n\t\t\t0.02%
\n\t\t117
\n\t\t\t\ud83c\uddf2\ud83c\uddf1 Mali
\n\t\t\t$21B
\n\t\t\t0.02%
\n\t\t118
\n\t\t\t\ud83c\uddec\ud83c\udde6 Gabon
\n\t\t\t$20B
\n\t\t\t0.02%
\n\t\t119
\n\t\t\t\ud83c\udde6\ud83c\uddf1 Albania
\n\t\t\t$20B
\n\t\t\t0.02%
\n\t\t120
\n\t\t\t\ud83c\uddf2\ud83c\uddff Mozambique
\n\t\t\t$20B
\n\t\t\t0.02%
\n\t\t121
\n\t\t\t\ud83c\udde7\ud83c\uddfc Botswana
\n\t\t\t$20B
\n\t\t\t0.02%
\n\t\t122
\n\t\t\t\ud83c\uddfe\ud83c\uddea Yemen
\n\t\t\t$20B
\n\t\t\t0.02%
\n\t\t123
\n\t\t\t\ud83c\uddf2\ud83c\uddf9 Malta
\n\t\t\t$19B
\n\t\t\t0.02%
\n\t\t124
\n\t\t\t\ud83c\udde7\ud83c\uddef Benin
\n\t\t\t$19B
\n\t\t\t0.02%
\n\t\t125
\n\t\t\t\ud83c\uddf5\ud83c\uddf8 West Bank
\n\t\t\t& Gaza
\n\t\t\t$19B
\n\t\t\t0.02%
\n\t\t126
\n\t\t\t\ud83c\uddf3\ud83c\uddee Nicaragua
\n\t\t\t$17B
\n\t\t\t0.02%
\n\t\t127
\n\t\t\t\ud83c\uddef\ud83c\uddf2 Jamaica
\n\t\t\t$17B
\n\t\t\t0.02%
\n\t\t128
\n\t\t\t\ud83c\uddf2\ud83c\uddf3 Mongolia
\n\t\t\t$17B
\n\t\t\t0.02%
\n\t\t129
\n\t\t\t\ud83c\uddf3\ud83c\uddea Niger
\n\t\t\t$17B
\n\t\t\t0.02%
\n\t\t130
\n\t\t\t\ud83c\uddec\ud83c\uddfe Guyana
\n\t\t\t$16B
\n\t\t\t0.02%
\n\t\t131
\n\t\t\t\ud83c\uddf2\ud83c\uddec Madagascar
\n\t\t\t$16B
\n\t\t\t0.02%
\n\t\t132
\n\t\t\t\ud83c\uddf2\ud83c\udde9 Moldova
\n\t\t\t$16B
\n\t\t\t0.02%
\n\t\t133
\n\t\t\t\ud83c\udde7\ud83c\uddf3 Brunei Darussalam
\n\t\t\t$16B
\n\t\t\t0.01%
\n\t\t134
\n\t\t\t\ud83c\uddf2\ud83c\uddf0 North Macedonia
\n\t\t\t$15B
\n\t\t\t0.01%
\n\t\t135
\n\t\t\t\ud83c\uddec\ud83c\uddf6 Equatorial Guinea
\n\t\t\t$15B
\n\t\t\t0.01%
\n\t\t136
\n\t\t\t\ud83c\uddf2\ud83c\uddfa Mauritius
\n\t\t\t$15B
\n\t\t\t0.01%
\n\t\t137
\n\t\t\t\ud83c\udde7\ud83c\uddf8 Bahamas
\n\t\t\t$14B
\n\t\t\t0.01%
\n\t\t138
\n\t\t\t\ud83c\uddf1\ud83c\udde6 Laos
\n\t\t\t$14B
\n\t\t\t0.01%
\n\t\t139
\n\t\t\t\ud83c\uddf3\ud83c\udde6 Namibia
\n\t\t\t$13B
\n\t\t\t0.01%
\n\t\t140
\n\t\t\t\ud83c\uddf7\ud83c\uddfc Rwanda
\n\t\t\t$13B
\n\t\t\t0.01%
\n\t\t141
\n\t\t\t\ud83c\udde8\ud83c\udde9 Congo
\n\t\t\t$13B
\n\t\t\t0.01%
\n\t\t142
\n\t\t\t\ud83c\uddf9\ud83c\uddef Tajikistan
\n\t\t\t$13B
\n\t\t\t0.01%
\n\t\t143
\n\t\t\t\ud83c\uddf0\ud83c\uddec Kyrgyz Republic
\n\t\t\t$12B
\n\t\t\t0.01%
\n\t\t144
\n\t\t\t\ud83c\uddf9\ud83c\udde9 Chad
\n\t\t\t$12B
\n\t\t\t0.01%
\n\t\t145
\n\t\t\t\ud83c\uddf2\ud83c\uddfc Malawi
\n\t\t\t$11B
\n\t\t\t0.01%
\n\t\t146
\n\t\t\t\ud83c\uddf2\ud83c\uddf7 Mauritania
\n\t\t\t$11B
\n\t\t\t0.01%
\n\t\t147
\n\t\t\t\ud83c\uddfd\ud83c\uddf0 Kosovo
\n\t\t\t$10B
\n\t\t\t0.01%
\n\t\t148
\n\t\t\t\ud83c\uddf9\ud83c\uddec Togo
\n\t\t\t$9B
\n\t\t\t0.01%
\n\t\t149
\n\t\t\t\ud83c\uddf8\ud83c\uddf4 Somalia
\n\t\t\t$9B
\n\t\t\t0.01%
\n\t\t150
\n\t\t\t\ud83c\uddf2\ud83c\uddea Montenegro
\n\t\t\t$7B
\n\t\t\t0.01%
\n\t\t151
\n\t\t\t\ud83c\uddf8\ud83c\uddf8 South Sudan
\n\t\t\t$7B
\n\t\t\t0.01%
\n\t\t152
\n\t\t\t\ud83c\uddf2\ud83c\uddfb Maldives
\n\t\t\t$7B
\n\t\t\t0.01%
\n\t\t153
\n\t\t\t\ud83c\udde7\ud83c\udde7 Barbados
\n\t\t\t$6B
\n\t\t\t0.01%
\n\t\t154
\n\t\t\t\ud83c\uddeb\ud83c\uddef Fiji
\n\t\t\t$5B
\n\t\t\t0.01%
\n\t\t155
\n\t\t\t\ud83c\uddf8\ud83c\uddff Eswatini
\n\t\t\t$5B
\n\t\t\t0.00%
\n\t\t156
\n\t\t\t\ud83c\uddf1\ud83c\uddf7 Liberia
\n\t\t\t$4B
\n\t\t\t0.00%
\n\t\t157
\n\t\t\t\ud83c\udde9\ud83c\uddef Djibouti
\n\t\t\t$4B
\n\t\t\t0.00%
\n\t\t158
\n\t\t\t\ud83c\udde6\ud83c\udde9 Andorra
\n\t\t\t$4B
\n\t\t\t0.00%
\n\t\t159
\n\t\t\t\ud83c\udde6\ud83c\uddfc Aruba
\n\t\t\t$4B
\n\t\t\t0.00%
\n\t\t160
\n\t\t\t\ud83c\uddf8\ud83c\uddf1 Sierra Leone
\n\t\t\t$4B
\n\t\t\t0.00%
\n\t\t161
\n\t\t\t\ud83c\uddf8\ud83c\uddf7 Suriname
\n\t\t\t$3B
\n\t\t\t0.00%
\n\t\t162
\n\t\t\t\ud83c\udde7\ud83c\uddee Burundi
\n\t\t\t$3B
\n\t\t\t0.00%
\n\t\t163
\n\t\t\t\ud83c\udde7\ud83c\uddff Belize
\n\t\t\t$3B
\n\t\t\t0.00%
\n\t\t164
\n\t\t\t\ud83c\udde8\ud83c\uddeb Central
\n\t\t\tAfrican Republic
\n\t\t\t$3B
\n\t\t\t0.00%
\n\t\t165
\n\t\t\t\ud83c\udde7\ud83c\uddf9 Bhutan
\n\t\t\t$3B
\n\t\t\t0.00%
\n\t\t166
\n\t\t\t\ud83c\uddea\ud83c\uddf7 Eritrea
\n\t\t\t$3B
\n\t\t\t0.00%
\n\t\t167
\n\t\t\t\ud83c\uddf1\ud83c\uddf8 Lesotho
\n\t\t\t$3B
\n\t\t\t0.00%
\n\t\t168
\n\t\t\t\ud83c\udde8\ud83c\uddfb Cabo Verde
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t169
\n\t\t\t\ud83c\uddec\ud83c\uddf2 Gambia
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t170
\n\t\t\t\ud83c\uddf1\ud83c\udde8 Saint Lucia
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t171
\n\t\t\t\ud83c\uddf9\ud83c\uddf1 East Timor
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t172
\n\t\t\t\ud83c\uddf8\ud83c\udde8 Seychelles
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t173
\n\t\t\t\ud83c\uddec\ud83c\uddfc Guinea-Bissau
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t174
\n\t\t\t\ud83c\udde6\ud83c\uddec Antigua & Barbuda
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t175
\n\t\t\t\ud83c\uddf8\ud83c\uddf2 San Marino
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t176
\n\t\t\t\ud83c\uddf8\ud83c\udde7 Solomon Islands
\n\t\t\t$2B
\n\t\t\t0.00%
\n\t\t177
\n\t\t\t\ud83c\uddf0\ud83c\uddf2 Comoros
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t178
\n\t\t\t\ud83c\uddec\ud83c\udde9 Grenada
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t179
\n\t\t\t\ud83c\uddfb\ud83c\uddfa Vanuatu
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t180
\n\t\t\t\ud83c\uddf0\ud83c\uddf3 Saint Kitts
\n\t\t\t& Nevis
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t181
\n\t\t\t\ud83c\uddfb\ud83c\udde8 Saint Vincent
\n\t\t\t& the Grenadines
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t182
\n\t\t\t\ud83c\uddfc\ud83c\uddf8 Samoa
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t183
\n\t\t\t\ud83c\udde9\ud83c\uddf2 Dominica
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t184
\n\t\t\t\ud83c\uddf8\ud83c\uddf9 S\u00e3o Tom\u00e9
\n\t\t\t& Pr\u00edncipe
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t185
\n\t\t\t\ud83c\uddf9\ud83c\uddf4 Tonga
\n\t\t\t$1B
\n\t\t\t0.00%
\n\t\t186
\n\t\t\t\ud83c\uddeb\ud83c\uddf2 Micronesia
\n\t\t\t$0.5B
\n\t\t\t0.00%
\n\t\t187
\n\t\t\t\ud83c\uddf2\ud83c\udded Marshall Islands
\n\t\t\t$0.3B
\n\t\t\t0.00%
\n\t\t188
\n\t\t\t\ud83c\uddf5\ud83c\uddfc Palau
\n\t\t\t$0.3B
\n\t\t\t0.00%
\n\t\t189
\n\t\t\t\ud83c\uddf0\ud83c\uddee Kiribati
\n\t\t\t$0.2B
\n\t\t\t0.00%
\n\t\t190
\n\t\t\t\ud83c\uddf3\ud83c\uddf7 Nauru
\n\t\t\t$0.2B
\n\t\t\t0.00%
\n\t\t191
\n\t\t\t\ud83c\uddf9\ud83c\uddfb Tuvalu
\n\t\t\t$0.1B
\n\t\t\t0.00%<\/p>\n

Note: Projections for Afghanistan, Lebanon, Pakistan, Sri Lanka and Syria are missing from IMF\u2019s database for 2023.<\/em><\/p>\n

Here are the largest economies for each region of the world.<\/p>\n

Africa:<\/strong>\u00a0Nigeria ($506.6 billion)<\/p>\n

Asia:<\/strong>\u00a0China ($19.4 trillion)<\/p>\n

Europe:<\/strong>\u00a0Germany ($4.3 trillion)<\/p>\n

Middle East:<\/strong>\u00a0Saudi Arabia ($1.1 trillion)<\/p>\n

North & Central America:<\/strong>\u00a0U.S. ($26.9 trillion)<\/p>\n

Oceania:<\/strong>\u00a0Australia ($1.7 trillion)<\/p>\n

South America:<\/strong>\u00a0Brazil ($2.1 trillion)<\/p>\n

Ranked: 2023\u2019s Shrinking Economies<\/h2>\n

In fact, 29 economies are projected to shrink from their 2022 sizes, leading to nearly $500 billion in lost output.<\/p>\n

<\/a><\/p>\n

Russia<\/strong>\u00a0will see the biggest decline, with a projected $150 billion contraction this year. This is equal to about one-third of total decline of all 29 countries with shrinking economies.<\/p>\n

Egypt<\/strong>\u00a0(-$88 billion) and\u00a0Canada<\/strong>\u00a0(-$50 billion) combined make up another one-third of lost output.<\/p>\n

In Egypt\u2019s case, the drop can be partly explained by the country\u2019s currency (Egyptian pound), which has dropped in value against the U.S. dollar by about 50% since mid-2022.<\/p>\n

Russia and Canada are some of the world\u2019s\u00a0largest oil producers<\/a>\u00a0and the oil price has fallen since 2022. A further complication for Russia is that the country has been forced to sell oil at a steep discount because of Western sanctions.<\/p>\n

Here are the projected changes in GDP for all countries facing year-over-year declines:<\/p>\n

Country
\n\t\t\tRegion
\n\t\t\t2022\u201323 Change (USD)
\n\t\t\t2022\u201323 Change (%)
\n\t\t\ud83c\uddf7\ud83c\uddfa Russia
\n\t\t\tEurope
\n\t\t\t-$152.65B
\n\t\t\t-6.9%
\n\t\t\ud83c\uddea\ud83c\uddec Egypt
\n\t\t\tAfrica
\n\t\t\t-$88.12B
\n\t\t\t-18.5%
\n\t\t\ud83c\udde8\ud83c\udde6 Canada
\n\t\t\tNorth America
\n\t\t\t-$50.17B
\n\t\t\t-2.3%
\n\t\t\ud83c\uddf8\ud83c\udde6 Saudi Arabia
\n\t\t\tMiddle East
\n\t\t\t-$46.25B
\n\t\t\t-4.2%
\n\t\t\ud83c\udde7\ud83c\udde9 Bangladesh
\n\t\t\tAsia
\n\t\t\t-$39.69B
\n\t\t\t-8.6%
\n\t\t\ud83c\uddf3\ud83c\uddf4 Norway
\n\t\t\tEurope
\n\t\t\t-$25.16B
\n\t\t\t-4.3%
\n\t\t\ud83c\uddf0\ud83c\uddfc Kuwait
\n\t\t\tMiddle East
\n\t\t\t-$19.85B
\n\t\t\t-10.8%
\n\t\t\ud83c\uddf4\ud83c\uddf2 Oman
\n\t\t\tMiddle East
\n\t\t\t-$9.77B
\n\t\t\t-8.5%
\n\t\t\ud83c\udde8\ud83c\uddf4 Colombia
\n\t\t\tSouth America
\n\t\t\t-$9.25B
\n\t\t\t-2.7%
\n\t\t\ud83c\udde6\ud83c\uddea UAE
\n\t\t\tMiddle East
\n\t\t\t-$8.56B
\n\t\t\t-1.7%
\n\t\t\ud83c\uddff\ud83c\udde6 South Africa
\n\t\t\tAfrica
\n\t\t\t-$6.69B
\n\t\t\t-1.6%
\n\t\t\ud83c\uddec\ud83c\udded Ghana
\n\t\t\tAfrica
\n\t\t\t-$6.22B
\n\t\t\t-8.5%
\n\t\t\ud83c\uddf6\ud83c\udde6 Qatar
\n\t\t\tMiddle East
\n\t\t\t-$5.91B
\n\t\t\t-2.6%
\n\t\t\ud83c\udde6\ud83c\uddf4 Angola
\n\t\t\tAfrica
\n\t\t\t-$3.54B
\n\t\t\t-2.9%
\n\t\t\ud83c\uddff\ud83c\uddfc Zimbabwe
\n\t\t\tAfrica
\n\t\t\t-$3.09B
\n\t\t\t-9.4%
\n\t\t\ud83c\uddfa\ud83c\udde6 Ukraine
\n\t\t\tEurope
\n\t\t\t-$2.79B
\n\t\t\t-1.8%
\n\t\t\ud83c\uddf8\ud83c\udde9 Sudan
\n\t\t\tAfrica
\n\t\t\t-$2.72B
\n\t\t\t-5.5%
\n\t\t\ud83c\uddee\ud83c\uddf6 Iraq
\n\t\t\tMiddle East
\n\t\t\t-$2.47B
\n\t\t\t-0.9%
\n\t\t\ud83c\uddf9\ud83c\uddf1 East Timor
\n\t\t\tAsia
\n\t\t\t-$1.67B
\n\t\t\t-45.7%
\n\t\t\ud83c\uddec\ud83c\udde6 Gabon
\n\t\t\tAfrica
\n\t\t\t-$1.60B
\n\t\t\t-7.3%
\n\t\t\ud83c\uddec\ud83c\uddf6 Equatorial Guinea
\n\t\t\tAfrica
\n\t\t\t-$1.35B
\n\t\t\t-8.2%
\n\t\t\ud83c\uddf2\ud83c\uddfc Malawi
\n\t\t\tAfrica
\n\t\t\t-$1.24B
\n\t\t\t-9.9%
\n\t\t\ud83c\uddf1\ud83c\udde6 Laos
\n\t\t\tAsia
\n\t\t\t-$1.21B
\n\t\t\t-7.9%
\n\t\t\ud83c\udde7\ud83c\uddf3 Brunei
\n\t\t\tAsia
\n\t\t\t-$1.13B
\n\t\t\t-6.8%
\n\t\t\ud83c\uddfe\ud83c\uddea Yemen
\n\t\t\tMiddle East
\n\t\t\t-$1.12B
\n\t\t\t-5.4%
\n\t\t\ud83c\uddf8\ud83c\uddf8 South Sudan
\n\t\t\tAfrica
\n\t\t\t-$0.86B
\n\t\t\t-10.9%
\n\t\t\ud83c\udde7\ud83c\uddee Burundi
\n\t\t\tAfrica
\n\t\t\t-$0.66B
\n\t\t\t-16.9%
\n\t\t\ud83c\uddf8\ud83c\uddf1 Sierra Leone
\n\t\t\tAfrica
\n\t\t\t-$0.42B
\n\t\t\t-10.6%
\n\t\t\ud83c\uddf8\ud83c\uddf7 Suriname
\n\t\t\tSouth America
\n\t\t\t-$0.05B
\n\t\t\t-1.4%<\/p>\n

The presence of Saudi Arabia, Norway, Kuwait, and Oman in the top 10 biggest GDP contractions further highlights the potential impact on GDP for oil-producing countries, according to the IMF\u2019s projections.<\/p>\n

More recently, producers have been cutting supply in an effort to boost prices, but concerns of slowing global\u00a0oil demand<\/a>\u00a0in the wake of a subdued Chinese economy (the world\u2019s second-largest oil consumer), have kept oil prices lower than in 2022 regardless.<\/p>\n

The Footnote on GDP Forecasts<\/h2>\n

While organizations like the IMF have gotten fairly good at GDP forecasting, it\u2019s still worth remembering that these are projections and assumptions made at the beginning of the year that may not hold true by the end of 2023.<\/p>\n

For example,\u00a0JP Morgan<\/a>\u00a0has already changed their forecast for China\u2019s 2023 real GDP growth six times in as many months after expectations of broad-based pandemic-recovery spending did not materialize in the country.<\/p>\n

The key takeaway from IMF\u2019s projections for 2023 GDP growth rests on how well countries restrict inflation without stifling growth, all amidst tense liquidity conditions.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 08\/10\/2023 – 23:20<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/economics\/visualizing-105-trillion-world-economy-one-chart<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Visualizing The $105 Trillion World Economy In One Chart By the end of 2023, the world economy is expected to have a gross domestic product…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1395995","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1395995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1395995"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1395995\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1395995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1395995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1395995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}