World economy to surpass US$100tn in 2022

The world economy is predicted to surpass the US$100tn mark with the global gross domestic product rising gradually after the pandemic.

December 28, 2021

The world economy is set to cross US$100tn for the first time ever.

If the Inflation still lingers on, there are chances of economies landing into recession.

CEBR predicts that China will overtake the USA by 2030, a year later than expected.

India is predicted to surpass France by 2022 to become the third’s largest economy.

In 2022, the world economy is set to cross US$100 trillion for the first time,two years earlier than it was predicted, according to the Centre for Economics and Business Research.  

Post-pandemic, the global gross domestic product has shown signs of increasing gradually though if inflation persists, there may be chances of the economies landing into recession, said the London-based think tank. 

The predictions are in alignment with the estimates of the International Monetary Fund who also said that the global GDP will surpass US$100 trillion by the year 2022. 

The CEBR also made the following predictions: 

  • China will overtake the US in the year 2030, which is two years later than the initial timeline. 
  • India will surpass France in 2022 and will become the third largest economy by 2031, which is also a year later than previously predicted. 
  • The UK is 16% larger and is expected to overtake France by 2036 in spite of Brexit. 
  • Germany will overtake Japan by 2033.
  • The climate change initiative will lower consumer spending by US$2trillion a year on an average as companies pass on the cost of decarbonizing investment through 2036. 

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