Britain is set to drop out of the world’s five largest economies based on gross domestic product in nominal terms, according to International Monetary Fund estimates published.
India is set to leapfrog Germany to rank fourth globally by 2022, pushing the U.K. down to sixth place behind its European peer. The slide in Britain’s relative size comes as the nation sets out to redefine its trading relationship with the rest of the world after Brexit.
The rankings also highlight India’s rapid rise, with the economy expanding 9.9 percent per year. By contrast, the IMF projects the U.K. will grow just 2 percent this year and 1.8 percent in 2018, impeded in part by “the negative effects of the United Kingdom’s decision to leave the European Union.”
Full article on Bloomberg
IMF Global Financial Stability Report
© Bloomberg
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article