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Make in India: How manufacturing in India can become globally competitive
Make in India: How manufacturing in India can become globally competitive
Countries by GDP: When compared to the top 20 economies
of 1980, 17 are still present on the list, which means only three new entrants.
In addition to the key players remaining almost the same, this analysis reveals
these economies are the engine of growth, commanding a majority of the global
wealth.
The nominal GDP of the top 10 economies adds up to about 66%
of the world's economy, while the top 20 economies contribute almost
79%. The remaining 173 countries together constitute less than one-fourth
to the world's economy. This list is based on the IMF's World
Economic Outlook Database, October 2019. Nominal GDP = Gross domestic
product, current prices,
U.S. dollars GDP based on PPP = Gross domestic product,
current prices, purchasing power parity, international dollars Gross domestic
product per capita, current prices, U.S. dollars Gross domestic product based
on purchasing-power-parity (PPP) share of world total, percent 1. United States
U.S. Nominal GDP: $21.44 trillion - U.S. GDP (PPP): $21.44 trillion The U.S.
has retained its position of being the world's largest economy since
1871. The size of the U.S. economy was at $20.58 trillion in 2018 in
nominal terms and is expected to reach $22.32 trillion in 2020. The U.S. is
often dubbed as an economic superpower and that's because the economy
constitutes almost a quarter of the global economy, backed by advanced
infrastructure, technology, and an abundance of natural resources. When the
economies are assessed in terms of purchasing power parity, the U.S. loses its
top spot to its close competitor China. In 2019, the U.S. economy, in terms of
GDP (PPP), was at $21.44 trillion, while the Chinese economy was measured at
$27.31 trillion. The gap between the size of the two economies in terms of
nominal
GDP is expected to lessen by 2023; the U.S. economy is
projected to grow to $24.88 trillion by 2023, followed closely by China at
$19.41 trillion.
Source : https://www.kearney.com/industrial-goods-services/article?/a/make-in-india-how-manufacturing-in-india-can-become-globally-competitive
Posted on 29 January 2022
