Judging from the current development trend, the number of members of the "Global Trillion Dollar GDP Club" in 2021 will reach 17, which seems to have become a foregone conclusion - only Italy and Brazil have not yet officially announced GDP values, but the current estimated economic growth rate is not low.
Coupled with inflation, exchange rate factors, and the relatively high size of the economies of both countries last year, we can be optimistic that the global trillion-dollar GDP club will expand in 2021, with the new member being the Netherlands – a real increase of 4.8%, and GDP reaching 859.166 billion euros, about 1.016 trillion US dollars.
THE GDP breakthrough is also achieved: the United States, China, Germany, India, South Korea...
In addition to the Netherlands, GDP hit a record high in 2021: the United States, China, Germany, the United Kingdom, India, Canada, South Korea and so on. Among them, the US economy actually grew by 5.6%, GDP exceeded 23 trillion US dollars, and per capita GDP reached a super high level of nearly 70,000 US dollars.
According to reports, the large-scale incentives taken by the US authorities - a large number of additional dollars, US debt, and huge subsidies to damaged enterprises and residents have promoted the rapid recovery of DOMESTIC demand (investment, consumption) in the United States. Then external demand also ushered in a relatively strong rebound.
Taking foreign trade as an example, the total import and export volume of goods and services reached 5.92 trillion US dollars. Among them, the export value of goods was 1,761.967 billion US dollars, and the value of service exports was 766.57 billion US dollars, both of which achieved double-digit growth and the growth rate exceeded GDP.
There is also foreign investment! According to a report released by the United Nations Conference on Trade and Development, the total amount of foreign investment introduced by the United States in 2021 will reach 323 billion US dollars, a year-on-year growth rate of 114%. In contrast, the foreign investment introduced by the mainland in 2021 is only about $179 billion, far lower than that of the United States.
Recently, the conflict between Russia and Ukraine has intensified – Ukraine's rich have fled. Some of them flowed into Britain, Germany, France, etc. in Europe, but more to the United States. The large amount of money brought by this is bound to become a new driving force for the further development of the US economy.
China's economy also achieved a new breakthrough in 2021 – the real growth rate was 8.1%, and the completed nominal GDP reached 17.73 trillion US dollars, ranking second in the world. If real growth of nearly 6% can be achieved this year, GDP is likely to sprint to $20 trillion.
There is also Germany, whose GDP in 2021 has achieved a breakthrough of $4 trillion, and its per capita GDP has entered a new level of $50,000. In addition, the size of the economies of the United Kingdom and India will both exceed $3 trillion in 2021, and France will reach new heights close to $3 trillion.
Canada's GDP rose to a high of nearly $2 trillion in 2021, South Korea's GDP reached nearly $1.8 trillion, Australia reached $1.634 trillion, Mexico rose to $1.292 trillion, and Indonesia reached $1.186 trillion, all of which hit record highs.
The GDP of Japan and Russia in 2021 has not yet achieved a new breakthrough
While the GDP of many countries has reached record highs, Japan and Russia are exceptions. Among them, although the Japanese economy achieved real growth of 1.7%, under the influence of deflation and the depreciation of the yen, its GDP fell to 4.938 trillion US dollars, falling to 3.93 million US dollars per capita.
Although Russia's GDP will recover to $1.775 trillion in 2021, it still has a gap of more than $500 billion compared to $2.292 trillion in 2013. So the question is, why have the economies of Japan and Russia failed to achieve a breakthrough, and what are the high opinions of netizens? This article is organized and written by [Nansheng], please do not reprint or plagiarize without authorization!