IMF predicts India to become the 4th largest economy in FY 2025
Economy
5 min read
According to the recently published International Monetary Fund (IMF) report, India is expected to overtake Japan to become the world’s fourth-largest economy in the financial year 2025. Currently, India is the world’s 5th largest economy in terms of its gross domestic product (GDP) at market price in US dollar terms. India follows April-March as the financial year.
Currently, the United States is the world's largest economy, followed by China, Germany, Japan and India.
Here is the list of the top 10 economies in the FY2025
No.1 USA
According to the IMF, the United States of America is expected to be the world’s largest economy, with an estimated nominal gross domestic product (GDP) of $29,840 billion. The IMF expects the US real GDP to grow by 2.8 % in 2024 and 2.2% in 2025.
No.2 China
The IMF expects China to remain the world's number 2 economy in 2025, with an estimated nominal GDP of $19,790 billion. The IMF expects the Chinese GDP to grow by 4.8 % in 2024 and 4.5 % in 2025.
No.3 Germany
The IMF expects the German economy to remain the third-largest economy in the world in 2025. Its nominal GDP is expected to be $4,591 billion in 2025. The IMF expects the German GDP to grow by 0 % in 2024 and 0.8 % in 2025.
No.4 India
The IMF predicts India will overtake Japan as the world’s fourth-largest economy in 2025. India's expected nominal GDP in 2025 is estimated at $4,340 billion. The IMF expects the Indian GDP to grow by 7 % in 2024 and 6.5 % in 2025.
No.5 Japan
The IMF expects Japan to drop to fifth place in the world. Its GDP is expected to be $4,310 billion in 2025. The IMF has predicted a growth rate of 0.3 % in 2024 and 1.1 % in 2025 for the Japanese economy.
No.6 United Kingdom
The United Kingdom, with an expected nominal GDP of $3,685 billion in 2025, will rank sixth among the world’s largest economies. The IMF expects the United Kingdom's economy to grow by 1.1% in 2024 and 1.5 % in 2025.
No.7 France
The IMF expects France to retain seventh place in the world economy list with an estimated nominal GDP of $3,223 billion in 2025. The IMF has forecasted a growth rate of 1.1 % in 2024 and 2025 for France.
No.8 Brazil
Brazil, with an expected nominal GDP of $2,438 billion, is expected to improve its current position from 9th to 8th in the world. The IMF expects the Brazilian economy to grow by 3.0 % in 2024 and 2.2 % in 2025.
No. 9 Italy
Italy, currently the 8th largest economy in the world, is expected to slide to 9th position in 2025. The Italian GDP is expected to be $2,390 billion in 2025. The IMF has predicted a growth rate of 0.7 % in 2024 and 0.8 % in 2025 for the Italian economy.
No.10 Canada
Canada, which is currently the 9th largest economy in the world, is expected to be the 10th largest economy in 2025. The IMF expects Canada's nominal GDP to be $2,361 billion in 2025. The Canadian GDP is expected to grow by 1.3% in 2024 and 2.4 % in 2025.
Also read: IMF retains India’s growth forecast at 7 per cent for 2024-25
