Korea ranks once again among the ten economic powers in the world l KBS WORLD
Photo: Getty Images
COVID-19 has changed the ranking of countries by economic size, causing changes in the ranking. Thus, South Korea is among the economies that improved its position in times of pandemic, by regaining the 10th place, displacing Brazil.
According to the US CNBC analysis, based on economic data for 2020 from the International Monetary Fund, the countries that top the ranking of GDP are still the United States, China, Japan and Germany, in that order. Meanwhile, India and the United Kingdom, which ranked fifth and sixth in a row in 2019, traded positions. CNBC estimates that India, whose economy fell by 9% last year, would be able to regain the position of the world’s fifth largest economy in 2023 thanks to strong growth forecasts for 2021, if it achieves a 12.5% increase in its overall. Domestic product.
Meanwhile, Brazil has moved from 10th to 12th, and it is estimated that it will be able to return to the “top ten” in 2026, although its economy is expected to improve by 3.7% this year, as it is still not Able to stop the spread of Coronavirus.
Instead, South Korea ranks as the 10th largest economy in the world after France, Italy and Canada, and ranks seventh, eighth and ninth, respectively.
CNBC expects Korea to be able to maintain this position through 2026, making a very positive assessment of the boom in the chip sector and its successful strategy against the Coronavirus, which allowed the South Korean economy to remain at -1% in 2020.
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