The 21st century is dubbed by economists as the Asian century, where China and India are now among the five largest economies in the world. Here is a list of the 50 largest economies in the world today. Picture/Document
China is the second largest economy in the world after the United States. While India now has an economy close to $4 trillion and home to global tech giants like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Twitter employs thousands of people.
According to the World Economic Forum (WEF), Asia, home to almost half of the world’s population, is expected to generate more than 50% of global GDP by 2040. The continent accounts for almost a third of total global income , where trade values are up from about a quarter of a decade ago.
According to PwC forecasts, China and India will become the world’s two largest economies by 2050, overtaking the United States. The European Union’s share of global GDP is expected to fall to just 9%, with France expected to be among the top 10 and Italy among the 20 largest economies in the world.
Indonesia is also expected to become one of the seven largest economies in the world by 2050. Vietnam and the Philippines are also expected to take the same steps in the coming decades. Meanwhile, Pakistan could become the sixth largest economy by 2075, according to The Goldman Sachs Group, Inc. (NYSE: GS).
Uses gross domestic product (GDP) values to rank the world’s 50 largest economies in 2023. Data sourced from the International Monetary Fund (IMF). Here is a list of the largest economies in the world in 2023:
50. Portugal
GDP: 252 billion USD
