2021 has become a thing of the past, and how the economic performance of various countries has become a foregone conclusion this year. However, most countries in the world have not released their economic report cards so quickly. We can take a peek at the economic trends of major economies last year from the data from the first three quarters.
In 2021, the main theme of global economic development can be said to be "recovery". After the global economy experienced the recession in 2020, in this year, the top 20 global economies achieved growth.
From the total amount of GDP, we can divide it into several levels.
China and the United States are in the first hiccup : in the first three quarters, the GDP of both countries exceeded US$10 trillion, leaving other countries far behind. Among them, the United States firmly ranked first with US$16.9 trillion in GDP; China followed closely behind with US$12.72 trillion.
Japan and Germany are in the second :GDPs of both countries exceeded US$3 trillion in the first three quarters;UK, India and France are in the third :GDPs in the first three quarters are between US$2 trillion and US$3 trillion;Italy, Canada, South Korea, Russia, Australia, Brazil , Spain are in the fourth :GDPs in the first three quarters are between US$1 and US$2 trillion; Mexico , Indonesia , Honsland , Netherlands , Swiss , Saudi Arabia, Turkey is in the fifth :GDPs in the first three quarters all exceeded US$600 billion but less than 1 trillion.
So what will happen to these countries’ annual GDP? IMF has made specific predictions earlier. From the figure below, we can see that the United States and China are still the two most dazzling and largest share countries. The IMF predicts that the US GDP will reach US$22.94 trillion in 2021, while China will reach US$16.86 trillion. Other countries can view the pictures themselves.
Economic scale is one aspect. In the past year, the economic recovery situation in different countries has been different. Japan continued to sink, with its economy growing by only 2% year-on-year in the first three quarters, ranking last in the top 20, disappointingly.
But Turkey, which has the highest economic growth rate (11.7% year-on-year growth), has a brilliant surface data, but the economy is actually rotten, especially in the fourth quarter of last year, Turkey's inflation has been exceeding double digits, and in December it even hit a 19-year high of 36.08%.
is not just high inflation, but Turkish lira has depreciated all the way from the beginning of last year, and the cumulative depreciation rate by as high as 45% at the end of the year. This highlights the fragility of Türkiye's economy, which is not as "romantic" as everyone imagines.
Most of the other countries recovered well, and the economic growth rate remained above 4%. Among them, China, as the world's second largest economy, still achieved rapid growth of 9.8% in the first three quarters, highlighting the strong resilience and development potential of China's economy.
