Top 10 Richest Economies of the World
Top 10 Richest Economies by GDP for 2010:In spite of its present economic condition, countries from Europe occupy majority of the slots at the top 10 richest economies of the world list. There are three countries from Asia as well, which indicates the economic importance and performance that has been achieved recently by this continent.
Below is the list of the top ten richest economies for the year 2010:
|As on : 17th Nov, 2011
Source : World Economic Outlook Database-September 2011, IMF
Brief about the Economies:
- USA: Economic forecasters have stated that even in the upcoming fiscal slow economic growth will continue for the US. It is estimated that the maximum rate of economic growth shall be 2.5 percent. This rate may not be sufficient to reduce the unemployment rate across the country.
- China: China, the second largest economy of the world, is showing signs of stability, as is evident from the recent performance of an important manufacturing index. This purchasing managers’ index has performed well above expectations but its overall growth can be affected due to Europe’s economic condition.
- Japan: It is expected that Japan will see an economic growth of 2.1 percent in the upcoming fiscal. But its economy can be affected by the recent situation in Thailand where floods have hampered production of electronics and automobiles. Since majority of these companies are suppliers to Japanese business houses it is being assumed that this natural disaster could have a telling effect on Japanese economy.
- Germany: Wolfgang Schaeuble, the Finance Minister of Germany, has informed the media recently that 2012 will be worse compared to 2011 from an economic point of view. He has stated that the national economy is in a decent shape and should be able to weather the storm.
- France: France is among the several European economies that are likely to see reduced levels of manufacturing in 2012 along with Germany, Spain, Italy, and Greece. The labor markets of France are expected to stay firm in 2012, but the unemployment rate will be fairly high as well.
- UK: The UK economy has received a major boost from planned investments worth 2.5 billion pounds made in the renewable energy sector, as per information provided by the UK Department of Energy and Climate Change (DECC). These investments can also create approximately 12 thousand jobs in the upcoming fiscal.
- Brazil: Economic analysts have brought down their inflation estimates for Brazil. This has happened for the fifth consecutive week but the largest economy in Latin America is still showing signs of slower economic growth. Consumer prices are expected to go up by 5.32% in 2012.
- Italy: Italy has recently marketed a second series of governmental debt instruments with lower borrowing expenses. Mario Monti, the Prime Minister, has stated meanwhile that the government needs to work harder to bring back investor confidence and economic growth.
- India: The aggregate factory production for Asia has remained weak in December 2011 but India has bucked the trend with increased output in the same period. This performance is opposite to the recent weak trends of what is referred to as the third biggest economy of Asia.
- Canada: Canada could be the beneficiary of the present economic crisis across Europe even as investors look to North American markets for stability and profits. The major trading partner of Canada, the US, is expected to provide a report that will play an important role in this regard.
Find the map for the top ten richest economies here - Top Ten Richest Economies Map