The U.S, China, Japan, and Germany have maintained the top slots in the globe’s nominal GDP, according to CNBC. Some rankings have changed due to Covid-19 pandemic, as Brazil bowed out of the top 10.
India
India, ranked fifth in 2019, fell to sixth last year
India is not expected to reclaim its fifth position by nominal GDP until 2023
India is projected to expand by 12.5% this year, but the rising Covid cases could slow growth.
Brazil
Brazil, ranked ninth in 2019, dropped to the 12th position last year.
Brazil is expected to remain out of the world’s 10 largest economies until at least 2026.
The economy shrank by 4.1% in 2020 and is projected to grow by 3.7% in 2021.
South Korea
South Korea made it to the 10th place and is projected to maintain the position up at least 2026
The country had some success in containing the coronavirus while its robust exports of semiconductors fueled the economy reducing contraction to only 1% in 2020.
South Korea is expected to expand by 3.6% this year.
