This page presents GDP forecast figures by country for the period from 2020 to 2024 as estimated by the IMF in its latest edition of World Economic Outlook (WEO) as of October 2019. Switzerland is one of the most stable market economies in the world. Forecasted change in GDP due to COVID-19, by country and scenario 2020 Forecasted real GDP growth of G20 countries due to COVID-19 2019-2021 Forecasted global real GDP … Find Out . Output of emerging market and developing economies (EMDEs) is expected to contract in 2020 for the first time in at least 60 years. It ranks 13th on the basis of per capita income, with a GDP per capita of $53,106.38. Data. The economy is projected to join the trillion-dollar club by 2023, while its GDP-PPP will reach $2.78 trillion that same year. The economy has grown by 2.3% during 2017 and is expected to grow 1.8% and 1.7% during 2018 and 2019 as per the IMF. please include a backlink to the respective infographic URL. France is the world's sixth-largest agricultural producer and the second-largest agricultural exporter, after the United States. Its per capita GDP of $46,260.71 is ranked 20th globally, while its GDP of $1.84 trillion in terms of PPP pulls it down to the 17th spot. The country offers a very high standard of living for its people, represented by the GDP per capita of $82,950.28, which is only behind Luxembourg. Population figures based on United Nations data. 192... On this page, US states are ranked by the real gross domestic product (GDP). MER: gross domestic product at market exchange rates converts a country's GDP in national currencies to US$, providing a better measure of the value of goods and services produced. It is also critical to address the challenges posed by informality and limited safety nets and undertake reforms that enable strong and sustainable growth. Output is projected to contract by 3.2% in FY 2020/21, when the impact of the pandemic will largely hit. Immediate policy measures should support health care systems and moderate the short-term impact of the pandemic on activity and employment. The share of Turkey's middle-class increased from 18% to 41% of the population between 1993 and 2010, according to the World Bank, and the country joined the upper-middle income group in the late 2000s. Eighty-eight economies would During 2017, it declined to 9.681%. Tuvalu contributes only to only 0.00005 percent. Australia ranks 11th on the measure in terms of GDP per capita, with $56,351.58 in 2018. If you continue to navigate this website beyond this page, cookies will be placed on your browser. The Russian Federation’s economy is forecast to contract by 6.0% this year, reflecting a jump in COVID-19 cases and the collapse in oil prices. In PPP, the biggest economy, China shares 18.6% of the world, and With a nominal GDP of $2.07 trillion, Italy is the world’s eighth-largest economy. CSV XML EXCEL. internet, telecommunications and consumer electronics medium-term fiscal position. Its unemployment rate continues to be in double-digits, while its public debt remains sticky at around 132% of GDP. The economy is now a part of the trillion-dollar club, with a nominal GDP of $1.02 trillion. Among major economies of the region, Malaysia (-3.1%), the Philippines (-1.9%), and Thailand (-5%) are forecast to experience the biggest contractions this year. facts. IMF projects the economic growth to revive to 2.5% by 2019. On the global scale, it is the fourth-largest economy in terms of nominal GDP, with a $4 trillion GDP. COVID-19 is expected to lead to the deepest global recession in decades, with baseline forecasts envisioning a 5.2 percent contraction in global activity this year. Australia is the 14th-largest economy, with a nominal GDP of $1.42 trillion. But the pace of recovery has lost momentum over the summer. The country is looking to bolster its non-oil economy in order to diversify its economy and tackle the problem of unemployment. Turkey’s economy is anticipated to shrink by 3.8% this year, subject to a drop in investment and shutdowns.