8. DECENT WORK AND ECONOMIC GROWTH

5 Most Powerful Countries in the World by Economy

5 Most Powerful Countries in the World by Economy
Written by ZJbTFBGJ2T

5 Most Powerful Countries in the World by Economy  Yahoo Finance

5 Most Powerful Countries in the World by Economy

5 Most Powerful Countries in the World by Economy

In this report, we will examine the 5 most powerful countries in the world based on their economies. These countries include the United States of America, China, Germany, India, and Japan.

Global Economic Outlook

The economic power of a country is determined by various factors such as GDP growth, inflation rates, employment opportunities, and investment. The overall world economic outlook also plays a significant role in the economic performance of these countries. According to the International Monetary Fund (IMF) April 2024 update, the world economy grew at a rate of 3.2% in 2023 and is projected to continue growing at the same rate in 2024 and 2025. Advanced economies are expected to experience a slight increase in growth rate, while emerging and developing economies are expected to see a modest slowdown.

Global headline inflation has been easing and is close to pre-pandemic levels for most economies. However, inflation rates in some developing countries remain high. For example, Turkey experienced an annual consumer price inflation of 69.8% in April 2024. Despite this, the Finance Minister of Turkey expects inflation to start decreasing and align with the government’s prediction.

Some of the Largest Companies from the Most Powerful Economies

Microsoft Corporation (NASDAQ: MSFT) and Saudi Arabian Oil Company (TADAWUL: 2222) are two of the leading companies driving the global economy. Let’s take a closer look at recent updates from these companies.

On May 8th, Microsoft Corporation announced a $3.3 billion investment in Wisconsin to boost artificial intelligence innovation, economic activity, and job creation. This investment aims to upgrade Southeast Wisconsin as a hub of cloud computing and establish the country’s first manufacturing-focused Artificial innovation lab. Additionally, this initiative aims to address the skill gap within the state by equipping over 100,000 residents with essential AI skills.

Saudi Arabian Oil Company is an integrated energy and chemical company based in the Kingdom of Saudi Arabia. The company recently announced a joint venture with its Chinese partner Rongsheng Petrochemical Co., Ltd. to explore new opportunities in the downstream segment. This partnership involves Rongsheng Petrochemical acquiring 50% of the stake in the Saudi Aramco Jubail Refinery Company and paves the way for liquid-to-chemical expansion projects at the refinery.

5 Most Powerful Countries in the World by Economy

5. India

  • GDP Current Prices (2024): $3.937 trillion
  • Real GDP Growth Rate (2024): 6.8%
  • GDP Per Capita (PPP) (2024): $10,120
  • GDP Per Capita Growth Rate (2024): 9.00%

India ranks 5th on our list of the most powerful countries in the world by economy. It is also one of the fastest-growing economies in Asia. India’s GDP is $3.937 trillion, with a growth rate of 6.8%. The country’s GDP per capita is growing at a rate of 9.00% in 2024.

4. Japan

  • GDP Current Prices (2024): $4.110 trillion
  • Real GDP Growth Rate (2024): 0.9%
  • GDP Per Capita (PPP) (2024): $54,180
  • GDP Per Capita Growth Rate (2024): 1.78%

Japan ranks 4th on our list of the most powerful countries in the world by economy. It has a population of 124.04 million and a GDP of $4.110 trillion. Japan’s GDP per capita is growing at a rate of 1.78% in 2024.

3. Germany

  • GDP Current Prices (2024): $4.591 trillion
  • Real GDP Growth Rate (2024): 0.2%
  • GDP Per Capita (PPP) (2024): $67,240
  • GDP Per Capita Growth Rate (2024): 6.08%

Germany ranks 3rd on our list of the most powerful countries in the world by economy. It is also one of the most innovative economies in Europe. Germany has a GDP of $4.591 trillion, with a growth rate of 0.2%. The country’s GDP per capita is growing at a rate of 6.08% in 2024.

2. China

  • GDP Current Prices (2024): $18.533 trillion
  • Real GDP Growth Rate (2024): 4.6%
  • GDP Per Capita (PPP) (2024): $25,020
  • GDP Per Capita Growth Rate (2024): 4.90%

China ranks 2nd on our list of the most powerful countries in the world by economy. It has a GDP of $18.533 trillion, with a growth rate of 4.6% in 2024. China’s GDP per capita is growing at a rate of 4.90%.

1. United States

  • GDP Current Prices (2024): $28.781 trillion
  • Real GDP Growth Rate (2024): 2.7%
  • GDP Per Capita (PPP) (2024): $85,370
  • GDP Per Capita Growth Rate (2024): 3.30%

The United States is the most powerful country in the world by economy. It has a population of 337.12 million and a GDP of $28.781 trillion. The country’s GDP is growing at a rate of 2.7% in 2024, and its GDP per capita is growing at a rate of 3.30%.

These are the 5 most powerful countries in the world by economy. For more information, you can refer to the full list of the 20 most powerful countries in the world.

SDGs, Targets, and Indicators Analysis

  1. SDGs Addressed or Connected:

    • SDG 8: Decent Work and Economic Growth
    • SDG 9: Industry, Innovation, and Infrastructure
    • SDG 10: Reduced Inequalities

    The article discusses the economic power and performance of different countries, which is directly related to SDG 8 (Decent Work and Economic Growth). It also mentions the role of technology and innovation in the global economy, which connects to SDG 9 (Industry, Innovation, and Infrastructure). Additionally, the article touches upon the economic disparities between countries, which is relevant to SDG 10 (Reduced Inequalities).

  2. Specific Targets:

    • Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries
    • Target 9.3: Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets
    • Target 10.4: Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equality

    The article indirectly addresses Target 8.1 by discussing the GDP growth rates of different countries. It also mentions the role of technology companies like Microsoft in driving economic activity, which relates to Target 9.3. Additionally, the article highlights the economic disparities between countries, which is connected to Target 10.4.

  3. Indicators:

    • GDP growth rate
    • Inflation rate
    • GDP per capita
    • Growth rate of GDP per capita

    The article mentions or implies several indicators that can be used to measure progress towards the identified targets. These include GDP growth rate, inflation rate, GDP per capita, and the growth rate of GDP per capita. These indicators provide insights into the economic performance, stability, and disparities among countries.

Table: SDGs, Targets, and Indicators

SDGs Targets Indicators
SDG 8: Decent Work and Economic Growth Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries GDP growth rate
SDG 9: Industry, Innovation, and Infrastructure Target 9.3: Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets GDP growth rate
Role of technology companies in driving economic activity
SDG 10: Reduced Inequalities Target 10.4: Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equality Economic disparities between countries
Inflation rate
GDP per capita
Growth rate of GDP per capita

Copyright: Dive into this article, curated with care by SDG Investors Inc. Our advanced AI technology searches through vast amounts of data to spotlight how we are all moving forward with the Sustainable Development Goals. While we own the rights to this content, we invite you to share it to help spread knowledge and spark action on the SDGs.

Fuente: finance.yahoo.com

 

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