India’s GDP exceeds the UK’s

According to Bloomberg’s calculations, based on IMF data and updated exchange rates, India has overtaken the United Kingdom, its former coloniser, as the fifth largest economy in the world. India’s annual GDP is estimated at $3,530 billion, compared to $3,380 billion for the UK.

After an 8.7% increase in 2021, IMF experts expect India’s GDP to grow by 7.4% this year, more than twice the rate of the UK (3.2%), but also of China (3.3%). In the second quarter of 2022, India grew at an annual rate of 13.5%. However, due to population differentials, GDP per capita in India is still nineteen times lower than in the UK ($2,500 versus $47,000).

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Source : Le Point