the World's 24 Largest Economies

The 2030 Forecast: An Insight into the World’s 24 Largest Economies

The aftermath of the Covid-19 pandemic saw global economies grappling with unprecedented challenges, inflation spikes, and reduced growth rates. According to the World Economic Forum, the global growth rate is expected to dip to 3% in 2023 and 2024, a downturn from the 3.5% recorded in 2022. However, on a brighter note, the global headline inflation is anticipated to fall to 6.8% in 2023 from 8.7% in 2022.

China and India are highlighted for their significant economic growth, with China initially poised to become the world’s biggest economy by 2030. However, persistent implementation of the Zero-Covid policy and a looming real estate crisis cast doubt over this prospect.

The IMF’s data projection reveals the following economies leading the global stage by 2030:

24. Vietnam

Projected GDP: $878.99 billion

Vietnam, Asia’s fastest-growing economy in 2023, is expected to continue on this trajectory.

23. Bangladesh


Projected GDP: $934.85 billion

Bangladesh’s exponential growth is noted, with one of the highest GDP CAGRs from 2023 to 2028.

22. Taiwan

Projected GDP: $1,084.28 billion

Despite a downturn in semiconductor sales, Taiwan’s economy is expected to recover.

21. Poland

Projected GDP: $1,127.39 billion

Emerging from Soviet influence, Poland’s growth is evident, attracting global companies.

20. Nigeria


Projected GDP: $1,160.23 billion

Nigeria’s double-digit CAGR showcases an economy on the rise, doubling its GDP by 2030.

19. Switzerland

Projected GDP: $1,218.41 billion

Switzerland’s steady yet lower-than-average growth persists.

18. Saudi Arabia

Projected GDP: $1,344.41 billion

In 2022, Saudi Arabia recorded an 8.7% economic growth, the highest among G20 countries.

17. Netherlands


Projected GDP: $1,375.76 billion

Despite international integration, economic challenges loom for the Netherlands.

16. Turkey

Projected GDP: $1,480.88 billion

Facing nearly 50% inflation in 2023, Turkey’s economy is still growing over 4%.

15. Spain

Projected GDP: $1,870.30 billion

Spain’s fiscal resilience boosts the Eurozone amidst an exceeding economic performance.

14. Australia


Projected GDP: $2,138.62 billion

Challenges linger, with per capita economic activity stagnant between 2021 and 2025.

13. Mexico

Projected GDP: $2,157.91 billion

Mexico shines in Latin America, drawing companies for its proximity and labor costs.

12. South Korea

Projected GDP: $2,308.52 billion The nation’s remarkable advancement positions it among the top economies by 2030.

11. Indonesia


Projected GDP: $2,391.02 billion

Despite Asia’s tough economic climate, Indonesia is projected to outdo competitors like Russia.

10. Italy

Projected GDP: $2,572.61 billion

EU’s 200 billion euros boost is met with skepticism regarding Italy’s economic utilization.

9. Canada

Projected GDP: $2,845.39 billion

Canada’s short-term outlook dims with an expected downturn before a rebound by 2025/2026.

8. Brazil


Projected GDP: $3,088.07 billion

Brazil records a strong recovery, revising its 2023 GDP growth to 2%.

7. France

Projected GDP: $3,598.16 billion

Amid social tensions, France remains a significant global economic player.

6. United Kingdom

Projected GDP: $4,778.29 billion

Despite post-Covid struggles, the UK projects over 6% CAGR from 2023 to 2028.

5. Germany


Projected GDP: $5,372.71 billion

Germany holds its place as Europe’s largest economy with a GDP exceeding $5 trillion.

4. Japan

Projected GDP: $5,771.01 billion

Japan’s recovery and strong Q2 2023 growth underscore its economic resilience.

3. India

Projected GDP: $6,543.21 billion

India’s impressive growth, bolstered by foreign investments and a growing middle class, positions it third globally.

2. China


Projected GDP: $31,624.42 billion

China’s ambitious growth is hindered by a real estate crisis and slowed economic activity, raising doubts about overtaking the U.S.

1. United States

Projected GDP: $34,850.59 billion

Despite concerns, signs of a “soft landing” and potential for recovery keeps the U.S. at the top.

Each nation’s trajectory is influenced by internal and global dynamics, underscoring the interconnected nature of the world’s economies. The economic landscape in 2030 will be a testament to the resilience and adaptability of countries navigating post-pandemic challenges.

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