New York, 17th September: The United States tops the list of major economies, according to reports released by the World Bank.
According to the data released by the World Bank, the global economy is growing so fast and rapidly that it affects our daily lives in both clear and precise way.
This can be seen in the chart given below:
According to sources, the world economy has been severely damaged during the devastation of the coronavirus, but its overall status has not diminished in any way.
According to sources, the annual data on economic output in the global economy at the moment indicates that the economy is not improving at all.
The World Bank says the global economy grew by about $ 22 trillion in the one-year period following the last release of official figures in 2018.
Figures released by the World Bank show that despite many difficulties, the United States still has the highest GDP growth rate in the world, accounting for about a quarter of the global economy. China also increased its share of global GDP from 15.9 per cent to 16.3 per cent.
The report also said that India’s economy was improving before the coronavirus epidemic, adding that the Indian economy has continued to grow at a high pace – now surpassing both the UK and France by 2019.
According to pre-epidemic statistics, India emerged as the world’s fifth-largest economy, but with the onset of the pandemic, India’s economy plummeted.
The top 10 countries released by the World Bank are ranked in terms of GDP growth.
According to the World Bank, Peru is the most affected economy in Latin America, ranking 50th in the world in terms of GDP.
Spain and the United Kingdom are also feeling the effects, publishing quarterly GDP numbers of 22.1% and 21.7%, respective.
Meanwhile, Taiwan and South Korea are two countries that have done well in improving the economy even during the COVID-19 epidemic. Both saw a negative contraction in a quarter in which the global economy appears to have stalled.
On the other hand, according to the World Bank, the global economy may finally shrink by 5.2% in 2020.