Top 10 Largest Economies In The World 2029-30India To Be Third Largest Economy Soon! Where Will The US, China, Japan & Germany Rank? Check List
By the end of this decade, India is projected to become the third-largest economy globally. Despite this growth, the U.S. economy in 2029 is expected to be more than 5.5 times the size of India’s GDP. India, currently the fastest-growing major economy, is on track to secure the fourth-largest position soon and will rise to third thereafter. As we approach the turn of the decade, the world’s economic landscape is bound to shift. According to the latest World Economic Outlook published by the International Monetary Fund (IMF) in October 2024, here’s a glimpse into which countries will dominate the global economy in 2029.
1. United States Of America (US)
The United States is expected to maintain its position as the world’s largest economy in 2029, according to projections from the International Monetary Fund (IMF). Currently holding the top spot, the US is projected to retain its leadership in the global economic rankings, with a nominal GDP estimated at approximately $35,458 billion. These projections indicate that the US will continue to lead the list of the world’s top 10 largest economies in the coming years.
2. China
The International Monetary Fund (IMF) projects that China will be the world’s second-largest economy by 2029. Currently, it holds the same position among the top 10 largest global economies. As per the latest IMF forecast, China’s nominal GDP is expected to reach $24.59 trillion by 2029, up from the estimated $18.27 trillion in 2024.
3. India
According to the International Monetary Fund (IMF) projections, India is set to rise to become the third-largest economy globally by FY30 (2029-30). The country is expected to secure this position even earlier, by 2028, based on the most recent IMF data. In 2029, India’s nominal GDP is anticipated to reach approximately $6,307 billion. For FY25 (2024), India’s GDP is forecasted to be around $3,889 billion, making it the fifth-largest economy in the world as of now.
4. Germany
Germany, currently holding the third position among the world’s largest economies, is projected to drop to fourth place by 2029, as per the IMF’s forecasts. According to the latest World Economic Outlook report from October 2024, Germany’s GDP is expected to reach approximately $5.566 trillion by 2029.
5. Japan
By 2029, Japan is expected to rank as the world’s fifth-largest economy, with India having surpassed it a few years prior. Based on IMF projections, Japan’s nominal GDP will reach approximately $5.08 trillion in 2029. Currently, Japan holds the position as the fourth-largest economy globally.
6. United Kingdom
According to recent IMF projections, the United Kingdom is expected to retain its position as the world’s 6th largest economy in 2029. The country currently holds this rank as well. By 2029, the IMF estimates that the UK’s nominal GDP will reach approximately $4.37 trillion.
7. France
France, presently ranked as the world’s 7th largest economy, is expected to maintain this position in the top 10 economies through 2029. According to IMF projections, France’s nominal GDP will grow from an estimated $3,174 billion in 2024 to $3,726 billion by 2029.
8. Brazil
By 2029, Brazil, currently holding the position of the world’s 9th largest economy, is projected to move up to 8th place, surpassing Italy. According to estimates from the International Monetary Fund (IMF), Brazil’s nominal GDP is anticipated to reach approximately $2.86 trillion by that time, further strengthening its place among the top 10 global economies.
9. Canada
According to recent IMF projections, Canada is anticipated to rank as the world’s 9th largest economy by 2029. This rise places it just ahead of Italy, which it is expected to surpass in 2028 to move up from the 10th position. By 2029, Canada’s nominal GDP is projected to reach approximately $2.79 trillion.
10.Itlay
Currently, Italy ranks as the world’s 8th largest economy based on the IMF’s 2024 forecasts. However, by 2029, the country is expected to drop to the 10th position among the world’s largest economies. According to IMF projections, Italy’s nominal GDP in 2029 is estimated to reach approximately $2,736 billion.
11. Russia
According to the latest World Economic Outlook report by the IMF from October 2024, Russia is projected to maintain its position as the 11th largest economy globally by 2029. The IMF estimates that Russia’s nominal GDP will reach approximately $2,413 billion by that year.
