At different stages of development, the opportunities and challenges faced by countries are different, and the national conditions faced by each country are different, so the economic performance is also very different. Of course, for now, if you want to compare the economic strength between countries, the most important indicator is the total amount of GDP and the GDP growth rate.
It should be noted that since the US dollar is a world-class position, it accounts for a huge proportion of in the international monetary system, so almost all countries use US dollars as the calculation unit . However, affected by the US dollar exchange rate, if the domestic currency is valued, the GDP after conversion may decline.
Not only that, one thing that needs to be noted is that in the calculation of a country's GDP growth rate, in order to better measure the economic development of a country, the country's currency is used as the calculation standard for GDP growth rate. Now that 2022 has passed, the situation of countries around the world in the first half of this year has been announced one after another. So what is the specific situation?
First of all, from the perspective of GDP growth rate, India's GDP growth rate ranks first in the world, and is currently the fastest-growing economy in the world. In 2021, India's GDP growth rate can reach 8.3%, and after entering 2022, India still maintains a high-speed economic growth trend, reaching a growth rate of 4.1% in the first quarter, and by the second quarter of this year, India's economic growth rate can reach 13.5%.
It is in such a rapid economic growth that India generated a total GDP of considerable in the first half of this year, reaching US$1.719 trillion, and surpassing the UK, becoming the fifth largest economy in the world.
From the perspective of India, under the advocacy of Indian manufacturing concept, India has attracted a large number of foreign-invested enterprises to invest and build factories in India with its policy advantages and cheap labor, thus promoting the rapid development of India's manufacturing industry, and manufacturing has also become one of the main driving forces for India's economic growth.
In addition, in the second quarter of this year, India's service industry recovered rapidly while the epidemic was under control. Compared with the same period, the growth of India's service industry reached 25.7% , contributing more than 2/3 of the overall economic growth of India.
But at the same time, the gap between rich and poor in India is also an important factor hindering India's sustainable development. It is understood that India's per capita GDP 2 in 2021 is only US$2,277, which is less than 1/10 of those of developed countries, so the possibility of India becoming a developed country by the middle of this century is relatively low. Moreover, if India does not reasonably improve the gap between the rich and the poor, then there may be more restrictive factors facing India in its subsequent economic development.
In this ranking, the changes in rankings of various countries are quite prominent. In addition to India surpassing the UK to become the fifth largest economy in the world, Canada also surpasses Italy and ranks as the eighth largest economy in the world. It is understood that in the first half of this year, the Canadian economy recovered effectively, achieving a GDP of US$1.046 trillion with an economic growth rate of 4.2%.
In comparison, although Italy's economic growth rate during the same period can reach 5.2%, the total GDP generated is less than that of Canada, with only US$993.192 billion. One of the main reasons for this phenomenon is the depreciation of the euro.
The gap between Japan, the world's third largest economy and Germany, the world's fourth largest economy, is shrinking, and even Germany has a tendency to surpass Japan. According to statistics in the first half of this year, Japan's economic growth rate is very unoptimistic, with the total GDP generated by a growth rate of 0.9% of US$2.191 trillion.
Although Japan still maintains its position as the world's third largest economy, during the same period, Germany's total GDP reached US$2.058 trillion, with a growth rate of 2.8%. If Japan and Germany continue to develop according to the current development conditions, Japan is very likely to lose its position as the world's third largest economy.
In fact, whether it is Japan's GDP growth slow, or the slow GDP growth rate of Italy and other countries such as EU are slow, the main reason is the depreciation of the currency. Compared with the serious depreciation of the yen and the euro, the US dollar has gained a relatively optimistic appreciation in the first half of this year. So what is the situation of the US dollar and my country under such circumstances?
In terms of total GDP, in the first half of this year, the United States still ranked as the world's largest economy. It achieved a GDP of $12.267 trillion with a growth of 3.2%, while the U.S. GDP grew by $1.2 trillion compared with the same period last year. At the same time, for my country, in the first half of this year, due to the impact of the sweeping epidemic, the growth rate was not very optimistic, only 2.5%, and the total achieved was US$8.678 trillion.
You should know that in the first half of 2021, the total gap between my country and the United States was US$2.849 trillion, but in the first half of 2022, the gap between my country and the United States widened to US$3.589 trillion. Through such a comparison, it can be clearly seen that the economic development gap between my country and the United States is gradually widening. However, if we consider it from a long-term perspective, the possibility of further widening the gap between my country and the United States is still relatively low, and such a gap will be maintained in the short term and will continue to develop.
Conclusion:
Overall, in the face of different realities and different opportunities and challenges, the changes in GDP situations of countries around the world are also very obvious. In addition to the changes mentioned above, in the first half of this year, the GDP growth rate of Britain was relatively optimistic, reaching 5.8%. However, due to the serious depreciation of the pound, the UK's GDP will be counted as US dollars, and there will be a very big gap. At the same time, Brazil also successfully surpassed South Korea and became the tenth largest economy.
Today's topic: Top 10 GDP in the first half of the year: India's first growth rate, Japan barely ranked third, and the gap between China and the United States widens
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