Video: How did the biggest economies do in the last decade? - March 20, 2019
We’ve created our first video animation to show you how much the world’s biggest economies have changed in the last decade. The leading pack remained more or less the same. Some countries, however, lost important places, while others gained ranks.
How much have the biggest economies changed in the last 10 years? Our first video animation can show you just that! We’ve collected the GDP data of the top 10 economies and the European Union between 2008-2018 and we combined the changes into a two-minute video.
What are the main takeaways from the data? Read on to find out!
Although the parties switched places, the leading roles in the world remained more or less the same. If we look at the countries with the strongest economies, we can see only two new participants in the top 10 after a decade.
Some countries gained…
There were some countries however that gained important places. China is the most obvious among them. It became the second biggest economy in just ten years. Only the US (and the European Union as a whole) can beat it. India is another winner. It became the 7th strongest economy in 2018, while in 2008 it wasn’t in the top 10. (It isn’t a true underdog, though, as in 2008 it was already placed at the 11th place.)
The biggest losers of the last 10 years are probably Spain and Russia. Both of them were in the top ten a decade ago, and both of them lost their places in the leading pack. Things looked brighter for Russia, though, as it moved to the top 10 before falling out. According to the IMF, Russia is now placed at the 12th, while Spain is at the 13th spot.
What to expect?
In the future, the USA and China will stay in the race for being the biggest economy. In the meanwhile, analysts expect that India will grow further and faster. Not a country, but the EU will probably remain in the top 3 for a while, but if the Brexit does happen, it may hurt it badly.
Disclaimer: This analysis is for general information and is not a recommendation to sell or buy any instrument. Since every investment holds some risk, our main business policy is based on diversification to minimize threats and maximize profits. Innovative Securities’ Profit Max has a diversified portfolio, which contains liquid instruments. This way, our clients can maintain liquidity, while achieving their personal investment goals on the long term.