{"id":27934,"date":"2023-01-02T15:16:45","date_gmt":"2023-01-02T15:16:45","guid":{"rendered":"https:\/\/www.vosa.tv\/?p=27934"},"modified":"2023-01-02T15:16:45","modified_gmt":"2023-01-02T15:16:45","slug":"india-replaces-uk-to-become-the-5th-worlds-largest-economy","status":"publish","type":"post","link":"https:\/\/www.vosa.tv\/eng\/archives\/27934","title":{"rendered":"India replaces UK to become the 5th world\u2019s largest economy"},"content":{"rendered":"<p><strong>New Delhi: In a historic development from a global economic perspective, India \u2013 a South Asian nuclear nation with a 1.39 billion population overtook the United Kingdom (UK) to become the world\u2019s 5<sup>th<\/sup> largest economy in 2022.<\/strong><\/p>\n<p>According to International Monetary Fund (IMF) report quoted by visualcapitalist.com, with a total $ 25 trillion Gross Domestic Production (GDP) share, the United States is leading the world net $101.6 trillion dollar economy, followed by its rival yet fast-emerging Peoples Republic of China with $18.3 trillion GDP size.<\/p>\n<p>Japan ranked 3<sup>rd<\/sup> with $ 4.3 trillion GDP, Germany $4.0 trillion, and India with $ 3.5 trillion gross domestic production replaced the UK to become the 5<sup>th<\/sup> largest economy in the world, and the first south Asian nation to cross $3 trillion economy during the period under review.<\/p>\n<p>The majority of global economic activity comes from just a handful of countries with the US, China, Japan, Germany, and India making up the top 5, which together account for more than half of global GDP.<\/p>\n<p>Just five countries make up more than half of the world\u2019s entire GDP in 2022: the U.S., China, Japan, India, and Germany. Interestingly, These top five economies which together account for more than half of global GDP reported by visualcapitalist.com.<\/p>\n<p>Adding on another five countries (the top 10) makes up 66% of the global economy, and the top 25 countries comprise 84% of global $101.6 trillion GDP.<\/p>\n<p>The rest of the world \u2014 the remaining 167 nations \u2014 make up 16% of global GDP. Many of the smallest economies are islands located in Oceania.<\/p>\n<p>The Economics Times report says the Indian economy recovered from the COVID-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue.<\/p>\n<p>The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralizing the impact of global headwinds which are expected to have a bearing on the country&#8217;s exports in the months to come.<\/p>\n<p>Gross Domestic Product (GDP) is a broad indicator of the economic activity within a country. It measures the total value of economic output\u2014goods and services\u2014produced within a given time frame by both the private and public sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: In a historic development from a global economic perspective, India \u2013 a South Asian nuclear nation with a 1.39 billion population overtook the United Kingdom (UK) to become the world\u2019s 5th largest economy in 2022. According to International Monetary Fund (IMF) report quoted by visualcapitalist.com, with a total $ 25 trillion Gross Domestic [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":27935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,31,1378,37],"tags":[],"class_list":["post-27934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india","category-news","category-us","category-world"],"_links":{"self":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/27934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/comments?post=27934"}],"version-history":[{"count":1,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/27934\/revisions"}],"predecessor-version":[{"id":27936,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/27934\/revisions\/27936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/media\/27935"}],"wp:attachment":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/media?parent=27934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/categories?post=27934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/tags?post=27934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}