2024-02-24T05:33:34+00:00
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/ The ranking of the world’s leading economic powers for the year 2024 is witnessing major changes, as Japan lost its third place to Germany.
Japan has held this position since 2010, but in 2023 it was dropped due to various factors such as inflation, the devaluation of the yen, and a sharp decline in population.
With an aging population and declining productivity, Japan faces growing concerns about its economic future, especially with the possibility of its population declining by a third by 2070, the France News website explained.
The news sparked strong reactions in Japan, with widespread commentary in local media.
The Nikkei business daily expressed regret over the country’s lack of progress in boosting its economic growth, stressing the urgent need for neglected economic reforms.
According to the site, the United States, China, and Germany now occupy the podium of the world’s leading economic powers in 2024, which reflects the dynamic changes in the global economy.
The United Kingdom is ranked fifth, as Britain’s economy is driven by services, with London being one of the world’s major financial centres.
Then comes India in sixth place, and in recent years there has been a very big development in India, a country with a terrible population density, and with great diversity and difference in all aspects of life.
Recently, India surpassed the UK to become the world’s fifth largest economy with a GDP of $3.755 trillion.
For its part, France maintains its position in seventh place in this ranking, with a GDP of $2.782 trillion.
The tourism sector is one of the most important sources of support and reasons for the strength of the French economy. Italy comes in eighth place with a GDP of $2.170 trillion, as the average per capita income in Italy is $35,810 annually.
In ninth place comes Canada. Despite its small size and small population, Canada deservedly occupies ninth place in the list of the 10 largest economies in the world, with a GDP of $2.090 trillion.
The average per capita income in Canada is $52,728 per year.
After many years of poverty and suffering, Brazil woke up and worked on comprehensive economic reform in the entire country to occupy the tenth place.
Thanks to ambitious plans and hard work, Brazil has come back strongly, becoming the tenth largest economic entity in the world, with a GDP of $2.8 trillion.
The average per capita income in Brazil is $9.6 thousand per year.
This new economic landscape highlights the challenges facing traditionally dominant countries, emphasizing the importance of reforms and adaptability to ensure sustainable economic growth and global competitiveness.