The first half of 2022 has passed. The GDP data of , the world's major economies have been released, and most economies are moving towards positive growth. Overall, global economy is in the pace of recovery as a whole, but the global economy is still facing risks such as high inflation, recession, and increased debt.
At present, the list of the top 10 economies in the world's GDP has also been released. Among them, the United States still ranks first, the rankings of China and Japan have not changed, the gap between Japan and Germany narrowed, and India surpassed the United Kingdom and ranked fifth in the world.
The United States still ranks first
According to the released data, the total GDP of the United States in the first half of 2022 was US$12.26 trillion, with a GDP growth rate of 3.2%, of which GDP exceeded US$6 trillion in the second quarter. According to the annualized growth rate on a month-on-month basis, the United States has declined in both quarters, but the United States has always been counted on a month-on-month basis and needs to be converted to year-on-year growth rate for comparison.
At the same year-on-year growth rate, the US GDP grew by 3.2% in the first half of the year. However, the total US GDP achieved a significant increase, because the US high inflation in the first half of the year. The US CPI reached 9.1% in June, setting a 40-year high record. Although the GDP growth increased in the short term, the impact of high inflation on the economy in the long run is more harmful than good.
In the first half of the year, the total GDP in China reached US$8.67 trillion. my country is still the second largest economy in the world. GDP 1 grew by 22.5% year-on-year. In the second quarter, due to the impact of the epidemic, GDP growth was only 0.4%, lowering the GDP growth rate in the first half of the year. If efforts continue to be made in the second half of the year, hopes of achieving the goal of 5.5% of the annual economic growth rate remains.
The gap between Japan and Germany narrowed
Japan is the third largest economy in the world. Since its GDP was overtaken by China in 2010, Japan has remained third in the world for many years. As the largest economy in Europe, Germany has never surpassed Japan, but this time Germany has great hope of surpassing Japan.
In the first half of 2022, Japan and Germany's GDP were: US$2.19 trillion and US$2.058 trillion, ranking third and fourth in the world respectively, with the gap narrowing to US$132 billion, while the GDP gap between Japan and Germany last year was US$710 billion.
Japan's GDP growth rate in the first half of the year was 0.9%, while Germany was 2.8%. Japan's economic growth is still very sluggish. Moreover, the yen has depreciated significantly this year. Last year, Japan's GDP has fallen below $5 trillion. According to the impact of this year's exchange rate , Japan's GDP will continue to decline, while Germany's GDP will continue to grow. This gap will continue to narrow until it exceeds Japan.
India surpassed the UK to rank fifth in the world
In the first half of this year, India's GDP grew by 8.4% year-on-year, ranking first among major economies in the world. The total GDP in the first half of the year was US$1.72 trillion, surpassing the UK (US$1.59 trillion), India's ranking rose to fifth in the world, and the gap with Germany is also narrowing.
According to the forecast of United Nations , India will surpass China to become the world's most populous country by 2023, and will continue to maintain its position as the world's largest populous country for the next 10 years. As a large population country, India still has a large population dividend of . According to the current economic growth rate, it is not ruled out that it will surpass Germany and Japan in the future.
France's GDP in the first half of the year was US$1.41 trillion, ranking seventh in the world. Canada, Italy and South Korea also ranked first in the world's top ten GDP. Russia's GDP has not been announced yet. It ranked 11th in the world last year. This year, due to well-known reasons, Russia's GDP will naturally be affected and is expected to continue to be lower than South Korea this year.
