GDP forecast 2030 data - Lowy Institute Asia Power Index (2024)

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GDP forecast 2030 data - Lowy Institute Asia Power Index? ›

If GDP growth differentials between the continents continue at anything like the rate established between 2012 and 2022, Asian GDP is likely to account for over half of global GDP by 2030.

If GDP growth differentials between the continents continue at anything like the rate established between 2012 and 2022, Asian GDP is likely to account for over half of global GDP by 2030.

The Lowy Institute Asia Power Index is an analytical tool for sharpening debate on power in the Asia-Pacific. The Index ranks 26 countries and territories in terms of their power, reaching as far west as Pakistan, as far north as Russia, and as far into the Pacific as Australia, New Zealand, and the United States.

"So in general, if we take 10 per cent growth rate in dollar terms, the value doubles in seven years. So if India's dollar GDP grows at 10 per cent per annum from April 2023 onwards, it could be a 7 trillion economy by 2030," Nageswaran said while speaking to Business Today's Managing Editor Siddharth Zarabi.

From 2021 to 2030, output is projected to grow at an average annual rate of 1.7 percent, roughly the same rate as the economy's maximum sustainable output (or potential GDP), which is determined by factors such as the size of the labor force, the average number of hours worked, capital investment, and productivity ...

China, the most powerful Asian country

China is without a doubt the most powerful country in Asia. With a population of over 1.4 billion China is the second most populated country in the world.

The determining factors of a country's power are diverse and ever-evolving. In 2023, the top 10 most powerful countries in the world are the US, China, Russia, Germany, the UK, South Korea, France, Japan, India, and Israel. Let's explore these powerful countries and the key factors that set them apart from the rest.

India is set to overtake Japan and Germany to become the world's third-largest economy, according to S&P Global and Morgan Stanley. S&P's forecast is based on the projection that India's annual nominal gross domestic product growth will average 6.3% through 2030.

Which country will rule the world in 2025? ›

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.

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.

In 2017, Center for International Development at Harvard University, published a research study, projecting that India has emerged as the economic pole of global growth by surpassing China and is expected to maintain its lead over the 2020s.

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.

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).

Potential Chinese economic growth can reach 5.9% through to 2030 - Global Times. The key of China's economic work in the coming years will be maintaining stable growth. In order to reach the goal of achieving all-round modernization by 2035, China should secure average yearly GDP growth rate of 4.6 percent.

[Japanese economy] The average real GDP growth rate for 10 years up to FY 2030 will be 1.5%.

However, based on current trends and projections, here are some possible scenarios for Pakistan's economy in 2030. Economic Growth: Pakistan's economy is projected to continue to grow steadily, with a projected GDP growth rate of around 5% to 6% per year.

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.

PAKISTAN : VISION 2030. Pakistan in 2030 will be a middle income country with per capita income in 2005 constant US dollars of over 3000. The incidence of poverty will be around 10% and income gender and regional disparities will be lowered by at least one half of the current levels.

What is the GDP forecast for Vietnam in 2030? ›

Vietnam targets $7,500 GDP per capita by 2030

Under the plan, the country's annual GDP growth is expected to be maintained at 7% during the 2021–2030 period and 6.5–7.5% in the 2031–2050 period. By 2030, Vietnam's average GDP per capita should reach USD7,500.

China makes up 18.45% of the total global economy. The top two richest countries in the world combined harbor 42.38% of the world's economy. The third richest country in the world by GDP is Japan at $4.937 trillion in GDP and a $39,285.2 GDP per capita.

China boasts East Asia's strongest armed forces. It ranks below only the United States and Russia worldwide.

In Asia, the poorest countries are Yemen, Tajikistan, and Myanmar, where poverty is also prevalent due to political conflicts and economic instability.

In 2023, China had an estimated active military personnel strength of two million, followed by India with an estimated strength of 1.45 million soldiers. Comparatively, Bhutan had an estimated military personnel strength of eight thousand in 2023.

The 1898 Treaty of Paris ending the war gave Cuba its independence and also ceded important Spanish possessions to the United States—notably Puerto Rico, the Philippines, and the small island of Guam. The United States was suddenly a colonial power with overseas dependencies.

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.

China to Surpass U.S. Economy, Reclaim Global Power Role by 2040, Intel Report Says. China is set to surpass the United States as the world's largest economy and advance down a path toward reclaiming a global power role within the next two decades, according to a new report by the U.S. Intelligence Community.

Which three countries will become the world's three largest economy in 2050? ›

Our projections imply that the world's five largest economies in 2050 (measured in real USD) will be China, the US, India, Indonesia, and Germany (with Indonesia displacing Brazil and Russia among the largest EMs).

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.

Trade between Russia and China is expected to hit a new record level of $200 billion this year, according to Russian Prime Minister Mikhail Mishustin during his trip to China, as Moscow faces growing isolation from the West.

Examples of first world countries include the United States, Canada, Australia, New Zealand, and Japan. Several Western European nations qualify as well, especially Great Britain, France, Germany, Switzerland, and the Scandinavian countries. The ways that first world countries are defined can vary.

In 2050, assuming the region follows the 1.5 percent average growth rate of its four largest countries, real U.S. dollar GDP will increase to $25.8 trillion, placing it among the three largest economies in the world.

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.

If India were to consistently grow at this particular rate, it will take approximately 400 years for India to become the world's biggest economy. US & China grew by 4% and 6.4% during the same period. Post-Covid, i.e., 2021-22, India grew at 9.2%.

Which country is best for better future? ›

1. Sweden. Sweden is the top country in 2022 best quality of life rankings. The country stands out in the ranking of quality of life for health systems and well-developed public education, security, economic stability, and politics.

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.

As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).

Many Americans continue to view China as a threat to the United States, both militarily and economically: 65% say China is at least a somewhat serious economic threat to the U.S. and 57% say it is at least a somewhat serious military threat.

China's $23 Trillion Local Debt Crisis Threatens Xi's Economy - Bloomberg.

China Is Growing Much Faster Than the U.S. Why It Matters for Global Power.

Asia and the Pacific is a relative bright spot amid the more somber context of the global economy's rocky recovery. As the Chart of the Week shows, the region will contribute about 70 percent of global growth this year—a much greater share than in recent years.

GDP of Asia

Asia is the largest continental economy by both GDP Nominal and PPP in the world. The Asian economy, comprising 48 economies, in 2021 is projected around US$36.8 trillion in nominal terms, calculated by taking figures from the IMF. Asia accounts for 39% of the world GDP.

Asia is home to more than half of the world's population and accounts for a growing share of the world's consumption, global flows of trade, capital, talent, and innovation, and is on track to top 50 percent of global GDP by 2040.

What is the GDP outlook for Asia? ›

Asia's domestic demand has so far remained strong despite monetary tightening, while external appetite for technology products and other exports is weakening. We project the region will contribute around 70 percent of global growth this year as its expansion accelerates to 4.6 percent from 3.8 percent in last year.

As a result of its fast growth and substantial potential, India's economy is one of the largest in the world as India had a nominal GDP of $3.176 trillion, and a GDP, PPP of $10.19 trillion in 2021.

In the more optimistic Asian Century scenario, the region's gross domestic product (GDP) would soar to $148 trillion and account for 51% of global output in 2050.

China is the largest economy in Asia, comprising nearly half of the continent's gross domestic product.

East Asia & Pacific gdp for 2021 was $30,911.69B, a 13.95% increase from 2020. East Asia & Pacific gdp for 2020 was $27,127.31B, a 0.37% increase from 2019. East Asia & Pacific gdp for 2019 was $27,028.30B, a 2.06% increase from 2018. East Asia & Pacific gdp for 2018 was $26,482.26B, a 8.87% increase from 2017.

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.”

China is set to be the world's largest economy by 2030. China's push towards robotics could mean higher productivity and even faster GDP growth. Bangladesh likely to be the biggest mover in the global GDP rankings (42nd to 26th), followed by Philippines, Pakistan and Vietnam...

The Indian economy seems set to double current annual GDP of close to USD3. 5tn to USD7tn by 2030. Achieving such high growth consistently over a medium-term time frame will need more than demographics or consumption, often recognized as India's twin strengths.

In China, the sector's contribution to GDP could reach $3.9 trillion by 2032, up from $814.3 billion in 2021, as the world's most populous country bounces back from the impact of the Covid-19 pandemic.