The world economy will grow by 2.9 per cent this year and 3.6 per cent in 2014, according to the latest estimates from the IMF, says The Economist.
Let’s take a look at some countries that will see positive or negative economic growth next year.
Source: The Economist
…
India
Expected growth rate in 2013: 3.8 per cent
Projected growth rate in 2014: 5.1 per cent
The International Monetary Fund has lowered its projection of the country's growth rate to 3.8 per cent in 2013 from 5.7 per cent estimated earlier on account of poor demand and weak manufacturing and services sector performance. It also says India is among the economies that may require more tightening to address inflation pressure, according to PTI.
...
China
Expected growth rate in 2013: 7.6 per cent
Projected growth rate in 2014: 7.3 per cent
China, the fastest growing economy in the world, has a GDP of $8.35 trillion.
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Pakistan
Expected growth rate in 2013: 3.6 per cent
Projected growth rate in 2014: 2.5 per cent
Pakistan, which has an inflation rate of more than 7 per cent, has a GDP of $240 billion.
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United States
Expected growth rate in 2013: 1.6 per cent
Projected growth rate in 2014: 2.6 per cent
United States, the biggest economy in the world, has a GDP of $16.63 trillion.
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United Kingdom
Expected growth rate in 2013: 1.4 per cent
Projected growth rate in 2014: 1.9 per cent
United Kingdom, one of the biggest financial centres of the world, has a GDP of $2.37 trillion.
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Canada
Expected growth rate in 2013: 1.6 per cent
Projected growth rate in 2014: 2.2 per cent
Canada, a major manufacturing hub, has a GDP of $1.83 trillion.
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Australia
Expected growth rate in 2013: 2.5 per cent
Projected growth rate in 2014: 2.8 per cent
Australia, a major exporter of minerals, has a GDP of $1.57 trillion.
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New Zealand
Expected growth rate in 2013: 2.9 per cent
Projected growth rate in 2014: 2.9 per cent
New Zealand, a major exporter of dairy products, has a GDP of $181.1 billion.
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Russia
Expected growth rate in 2013: 1.5 per cent
Projected growth rate in 2014: 3.0 per cent
Russia, which has one of the biggest oil and gas reserves, has a GDP of $2.02 trillion.
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Japan
Expected growth rate in 2013: 2.0 per cent
Projected growth rate in 2014: 1.2 per cent
Japan, one of the biggest exporters in the world, has a GDP of $5.96 trillion.
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South Korea
Expected growth rate in 2013: 2.8 per cent
Projected growth rate in 2014: 3.7 per cent
South Korea, one of the biggest exporters of electronic goods and automobiles, has a GDP of $1.15 trillion.
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Finland
Expected growth rate in 2013: Minus 0.6 per cent
Projected growth rate in 2014: 1.1 per cent
Finland, one of the richest countries in the world, has a GDP of $247.2 billion.
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Norway
Expected growth rate in 2013: 1.6 per cent
Projected growth rate in 2014: 2.3 per cent
Norway, which has one of the largest sovereign funds in the world, has a GDP of $499.8 billion.
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Sweden
Expected growth rate in 2013: 0.9 per cent
Projected growth rate in 2014: 2.3 per cent
Sweden, which has one of the highest standards of living, has an inflation rate of 1.4 per cent.
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Iceland
Expected growth rate in 2013: 1.9 per cent
Projected growth rate in 2014: 2.1 per cent
Iceland, which was hit badly by the 2008 global economic crisis, has a GDP of $13.04 billion.
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Denmark
Expected growth rate in 2013: 0.1. per cent
Projected growth rate in 2014: 1.2 per cent
Denmark, one of the richest countries in the world, has a GDP of $313.82 billion.
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France
Expected growth rate in 2013: 0.1. per cent
Projected growth rate in 2014: 1.2 per cent
France, a major economic powerhouse in the world, has a GDP of $2.60 trillion.
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The Netherlands
Expected growth rate in 2013: Minus 1.3 per cent
Projected growth rate in 2014: 0.3 per cent
The Netherlands, a major exporter of dairy products, has a GDP of $709.5 billion.
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Germany
Expected growth rate in 2013: 0.5 per cent
Projected growth rate in 2014: 1.4 per cent
Germany, one of the biggest economic powerhouses in the world, has a GDP of $3.57 trillion.
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Switzerland
Expected growth rate in 2013: 1.7 per cent
Projected growth rate in 2014: 1.8 per cent
Switzerland, one of the wealthiest nations in the world, has a GDP of $362.4 billion.
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Poland
Expected growth rate in 2013: 1.3 per cent
Projected growth rate in 2014: 2.4 per cent
Poland, which was badly hit by the 2008 global economic crisis, has a GDP of $799.2 billion.
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Romania
Expected growth rate in 2013: 2.0 per cent
Projected growth rate in 2014: 2.2 per cent
Romania, the 11th largest economy in the European Union, has a GDP of $277.9 billion.
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Spain
Expected growth rate in 2013: Minus 1.3 per cent
Projected growth rate in 2014: 0.2 per cent
Spain, which was hit badly by the global economic crisis, has a GDP of $1.34 trillion.
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Italy
Expected growth rate in 2013: Minus 1.8 per cent
Projected growth rate in 2014: 0.7 per cent
Italy, which has a high per capita income, has a GDP of $2.01 trillion.
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The Czech Republic
Expected growth rate in 2013: Minus 0.4 per cent
Projected growth rate in 2014: 1.5 per cent
The Czech Republic, which has an inflation rate of 2.5 per cent, has a GDP of $286.7 billion.
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