India looks set to leapfrog Britain and France next year to become the world’s fifth-largest economy in dollar terms, a report showed on 26 December 2017. The Centre for Economics and Business Research (Cebr) consultancy’s 2018 World Economic League Table painted an upbeat view of the global economy, boosted by cheap energy and technology prices.
Despite temporary setbacks India’s economy has still caught up with that of France and the UK and in 2018 will have overtaken them both to become the world’s fifth largest economy in dollar terms. Because the impact of President Trump on trade has been less severe than expected, the USA will retain its global crown a year longer than we anticipated in the last report.
Russia was vulnerable to low oil prices and too reliant on the energy sector, and looked likely to fall to 17th place among the world’s largest economies by 2032, from 11th now. A Reuters poll of economists in late October suggested global economic growth in 2018 looks likely to quicken slightly to 3.6 per cent from 3.5 per cent this year – with risks to that forecast lying on the upside.