can become a developed country, but India's development is indeed remarkable now. India has the same population advantage as China, which is a huge consumer market. India has proposed "Made in India". In the past few years, a large number of companies have invested in India, including the transfer of the Apple production line from China.
In addition, India has a good international environment and has good relations with Russia. European and American countries are also holding it. They will have an advantage in international trade . India's current GDP is not large, so growth is easy to accelerate.
However, the first growth rate in in the first half of the year was not India, but Saudi Arabia , reaching 11%. Why is Saudi Arabia so growing at such a high rate? The reason is simple. The global energy is in short supply. As the largest producer of oil, Saudi Arabia naturally made a lot of money. In the first half of 2022, Saudi Aramco's net profit reached US$87.9 billion.
From the perspective of year-on-year growth rate, European countries are generally relatively high, Spain grows by 6.2%, Netherlands grows by 6%, Britain grows by 5.8%, and Italy grows by 5.2%. The growth rate of the United States is 3.2%, exceeding my country's 2.5%.
Why is the growth rate of European and American countries so high? There is a saying in that says "Growth is not enough, inflation comes to make up for it." There is no doubt that high inflation has brought them high growth.
Russia grew by -0.4%, becoming the only country with negative growth among the top 20. As for the reasons, there is no need to say more.
European countries generally declined, and South Korea fell to 13th place
As mentioned earlier, European countries generally have good growth rates, but the ranking has declined. What's going on?
Britain was overtaken by India and dropped to 6th place; Italy was overtaken by Canada and dropped to 9th place; Spain was overtaken by Mexico and dropped to 15th place. In addition, Saudi Arabia surpassed the Netherlands, , Switzerland, .
Except for India and Saudi Arabia, the growth rate of other countries that overtake is lower than that of the countries that overtake. For example, Canada's 4.2% growth rate is lower than Italy's 5.2% growth rate, and Mexico's 1.9% growth rate is also far lower than Spain's 6.2% growth rate. The reason is that the euro depreciates seriously, while the exchange rate of in Canada and Mexico is relatively stable, and inflation is not as serious as that of European countries.
South Korea grew 3%, Brazilian grew 2.5%, but Brazil squeezed into 10th place and South Korea fell to 13th place. The reason is similar. The won depreciated by 9.1%, while Brazilian Brazilian real appreciated by 6.1%.
Although Russia has negative growth, it has risen from 13th in the first half of last year to 11th. Since the dispute between Russia and Ukraine, ruble has experienced a sharp drop, but it has begun to rebound and continue to appreciate. Russia's oil exports increased sharply in the first half of the year, making a lot of money. Therefore, although the growth rate has declined, the total GDP is higher than in the first half of last year.
Japan's position is unstable, and the gap between China and the United States has slightly widened
Except India surpassed the United Kingdom, Japan's position in third place is also unstable. 's GDP in the first half of the year was only 137.9 billion US dollars.
Recently, Japanese media reported that the yen is still depreciating, and this year's US dollar-denominated GDP is likely to fall below $4 trillion, back to before 1992. If this happens, Germany will surpass Japan and become the world's third largest economy, .
The gap between China and the United States has slightly widened, and The U.S. GDP growth rate exceeded that of China in the first half of the year. Based on the total amount, in the first half of the year, China's GDP was equivalent to about 70% of that in the United States, and 77% in 2021.
But it doesn’t matter. In the end, we still have to look at the data for the whole year. In the third quarter, my country’s various economic data were recovering rapidly. The total retail sales of consumer goods increased by 5.4% in August, indicating that consumption is recovering, which is a good sign. Although there is pressure, we have more potential.
