China: share of global gross domestic product 2028 | Statista (2024)

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China: share of global gross domestic product 2028 | Statista? ›

Based on GDP by purchasing power parity in 1992, 2010 and 2028, and according to Statista's world ranking of countries, the 10 nations that will make up the top world economies in five years are: China, the United States, India, Japan, Germany, Indonesia, Russia, Brazil, France and the United Kingdom.

Based on GDP by purchasing power parity in 1992, 2010 and 2028, and according to Statista's world ranking of countries, the 10 nations that will make up the top world economies in five years are: China, the United States, India, Japan, Germany, Indonesia, Russia, Brazil, France and the United Kingdom.

The graph shows China's share in global gross domestic product adjusted for purchasing-power-parity until 2022, with a forecast until 2028. In 2022, China's share was about 18.48 percent.

China's annual economic growth will be around 4 per cent from 2024 to 2029, compared with 1.9 per cent in the US, according to the report, which projects what the global economy will look like through 2075.

There is still much work to be done to propel China to the top of the world's economy, but it is certainly possible that the Chinese economy can surpass the power of the US by 2050. It may also be too early to make definitive projections of China's future.

China and its allies plus those countries that lean toward China accounted for 10% of world economic output in 1990 compared to 26% in 2021. By 2050 the same bloc will reach 28% of the world total.

At the beginning of 2023, the U.S.'s real GDP stood at around $20 trillion and China's at around $16 trillion—leaving a gap of $4 trillion. If the U.S. were leaving its closest peer in the dust, at the end of 2023, that gap will have widened.

According to the International Monetary Fund, these are the highest ranking countries in the world in nominal GDP: United States (GDP: 20.49 trillion) China (GDP: 13.4 trillion)

What will be the GDP of China in trillion 2040? ›

In 2040, the Chinese economy will reach $123 trillion, or nearly three times the economic output of the entire globe in 2000. China's per capita income will hit $85,000, more than double the forecast for the European Union, and also much higher than that of India and Japan.

Potential Chinese economic growth can reach 5.9% through to 2030 - Global Times.

The majority of global investment banks and world institutions portend that China is poised to achieve annualized economic growth of 5-6 percent in 2023 and 2024, which will make China's GDP to reach approximately $20 trillion in 2024.

Other forecasting outfits, including the OECD, the Lowy Institute, and the Centre for Economics and Business Research, project that China's GDP will overtake America's at some point in the 2030s.

At the end of last year the bank revisited its calculations. It now thinks China's economy will not overtake America's until 2035 and at its high point will be only 14% bigger (see chart).

As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th) The US could be down to third place in the global GDP rankings while the EU27's share of world GDP could fall below 10% by 2050.

According to a recent report by Harvard University, “From economic complexity growth estimates, India is growing at the annual list at the rate of 7.9 percent as the fastest growing country for the coming decade.

The chart below shows the resulting share of global GDP for several major regions in the year 2100. In the univariate model, China will be the largest economy in the world in 2100, producing some 27% of global output.

Richest Country in 2050 will be United Kingdom

The United Kingdom's Gross Domestic Product in 2050 is estimated to be 3.58 trillion US dollars, with a per capita income of 49,412 US dollars. The present gap between the British economic wealth and Germany's economic wealth will contract significantly.

Which country will overtake China? ›

According to Policy Brief No. 153 from the United Nations Department of Economic and Social Affairs (UN DESA), entitled “India overtakes China as the world's most populous country”, between 2023 and 2050, the number of persons aged 65 or over is expected to nearly double in China and to increase by more than double in ...

India is expected to overtake Germany in terms of GDP in 2025 and Japan in 2027 to become the third largest economy after the U.S. and China.

"China would overtake the United States to become the world's largest economy in nominal US dollar terms by about 2030," the report's authors conclude. "But it would never establish a meaningful lead ... and would remain far less prosperous and productive per person than America, even by mid-century."

India's GDP grew 6.1 percent (compared to 4 percent in the same quarter of 2021–22), making it the fastest-growing among the world's top economies. Last year, the IMF's chief called India a bright spot in the global economy.

The U.S. makes up 23.93% of the total global economy, says Investopedia. The World Bank Group lists China as the second richest country in the world as of 2021, possessing a GDP of $17.734 trillion along with a GDP per capita of $12,556.3. China makes up 18.45% of the total global economy.

It is unlikely that China's economy will collapse if U.S. stops buying Chinese goods. Trade is an important part of any economy, and a very important part of China's economy. According to the World Bank, exports account for 20% of China's gross domestic product.

As per projections by IMF for 2021, United States is leading by $6,033 bn or 1.36 times on an exchange rate basis. The economy of China is Int. $3,982 billion or 1.18x of the US on purchasing power parity basis. According to estimates by World Bank, China's gdp was approx 11% of the US in 1960, but in 2019 it is 67%.

China, France, Russia, the United Kingdom, and the United States are often referred to as great powers by academics due to "their political and economic dominance of the global arena". These five nations are the only states to have permanent seats with veto power on the UN Security Council.

What is the GDP forecast for China in 2025? ›

The real total GDP (gross domestic product) in China is expected to grow by 7.38% by 2026. The GNI (gross national income) in China is forecast to amount to US$22.71tn in 2025. In 2025, the total investment in China is forecast to amount to US$9.64tn.

According to a Foreign Policy magazine article by Robert Fogel in the January/February issue, China's economy will reach $123 trillion dollars in 2040. That's almost three times the economic output of the entire world in 2000.

1,411,750,000 (31 December 2022 est.) $19.373 trillion (nominal; 2023 est.)

China 2030 called for China to embrace liberal economic policies, including re-defining the role of its state-owned enterprises and breaking up monopolies in certain industries.

Looking ahead, China is expected to pass the U.S. as the world's largest economy in 2030. This article appears in the February/March issue of Fortune with the headline, “Global growth gathers speed.”

As the world's third largest and fastest growing major economy, China presents enormous opportunities for U.S. workers and firms but also considerable challenges.

The size of the U.S., which is poised to be $25.03 trillion in 2022, will be $30.28 trillion by 2027. China became the world's second-largest economy in 2010. It was the sole trillion-dollar economy to see growth in 2020, and it grew at 8.1% in 2021.

By 2040, India's gross domestic product in PPP terms will grow to $30 trillion from $8.7 trillion in 2016, while US will grow from $18.6 trillion to $28.3 trillion, said the PwC report titled “The World in 2050”. China will continue to lead the chart with its GDP rising from $21.3 trillion to $47.4 trillion by 2040.

If the projections used in the above video prove to be accurate, the largest economy in 2030 will be China with $64.2 trillion in GDP after adjusting for purchasing power parity (PPP). That's nearly $20 trillion more than India, which will be the second largest by that time.

Which economy will be trillion by 2030? ›

India is on track to becoming a $7 trillion economy by 2030 powered by the triple engines of rapid financialisation, clean energy transition and digital revolution, according to a report by Deutsche Bank.

In this future China, different areas will dominate their economic landscape and there will be new winners and losers. Although the days of China's 10% growth rate may be over, by 2025 its economic development will remain the most powerful.

As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th) The US could be down to third place in the global GDP rankings while the EU27's share of world GDP could fall below 10% by 2050.

NEW DELHI: India may overtake Germany and Japan to become the 3rd largest economy of the world by 2030, a report by Ernst & Young (EY) said. India's gross domestic product (GDP) is estimated to be around $26 trillion in market exchange rate terms by 2047-48, the report noted.

India will be able to become USD 5-trillion economy by 2027, Bharti Enterprises founder and Chairman Sunil Mittal said on Saturday.

India's GDP grew 6.1 percent (compared to 4 percent in the same quarter of 2021–22), making it the fastest-growing among the world's top economies. Last year, the IMF's chief called India a bright spot in the global economy.

A new study published yesterday in The Lancet journal has predicted that India, Nigeria, China and the United States (U.S.) will be dominant global powers by the year 2100. The publication's Editor-in-Chief, Dr. Richard Horton, said: “This research charts a future we need to be planning for urgently.

1. China. China will take its place as the first richest country among the top 10 richest countries in the World. China is estimated to become the world's first richest and possibly the strongest economy.

China – The world's manufacturing hub, China is expected to be most powerful economy by 2050. A number of leading organizations such as United Nations, World Bank and European Union have also indicated towards China's rising influence in world order.

China will become the global economy's biggest growth driver in the next 5 years, doubling the US contribution, IMF says. The IMF said China will be the largest driver of global economic growth in the next five years. China will contribute 22.6% of total world growth, while the US will contribute 11.3%.

Which country will be most powerful in 2100? ›

In the univariate model, China will be the largest economy in the world in 2100, producing some 27% of global output. India will be the second largest economy accounting for 16.2% of global output and the US will be third with 12.3% of global output. So, it's the century of China then.

Per capita income has nearly quadrupled in the last 15 years, and a few analysts are even predicting that the Chinese economy will be larger than that of the United States in about 20 years.