2023 Economic Report Card of 20 Countries: China, the United States, Russia, Germany, Japan, France, Norway, Singapore...

From the 20 countries that have released their economic report cards for 2023, Nansheng has found the following characteristics, first of all, Norway, which is characterized by "success and energy, and failure is also energy" - the real economic growth rate in 2022 is 3%, which is not bad, but not outstanding.

However, 2022 is a year of skyrocketing prices in the international energy market, and after taking into account the "overall price increase due to the sharp rise in energy prices", the nominal growth rate of Norway's national economy actually reached 32%, setting a new record in recent decades.

In 2023, the opposite will be true: lower prices in the international energy market will lead to a sharp decline in Norway's export revenues and a sharp drop in the prices of goods and services in Norway, resulting in a difference between a 0.5% real growth in the economy and a 10.2% decrease in nominal GDP at market prices.

According to the economic accounting data given by the Norwegian National Statistics Office, nominal GDP fell to 5,128,639 million kroner, compared with 5,708.19 billion kroner in the previous year, a decrease of 10.2%, which is nominal, and a real increase of 0.5% after excluding falling prices.

When we got here, some netizens may not understand it, and we need to popularize science! The economic growth and decline of the countries we mentioned are all from a quantitative point of view. Let's say a country produced 100 goods in the previous year and 101 in 2023, with a growth rate of 1% – this is the real growth rate

However, the price of each item in the previous year was 100 yuan, totaling 10,000 yuan. But the price of goods in 2023 will drop to 90 yuan, totaling 9,090 yuan, a decrease of 9.1% compared with 10,000 yuan in the previous year - this growth rate is superficial, formal, and nominal.

This is how Norway's economic development in 2023 will characterize, with the national output of goods and services rising by 0.5% compared to the previous year. However, the market transaction prices of these goods and services are much lower than in 2022, resulting in a 10.2% decrease in nominal GDP at market prices.

And then it leads to Germany, which is exactly the opposite

In Germany, the economy in 2023 actually contracted by 0.3% year-on-year, indicating that the number of goods and services created by the German society as a whole was 0.3% less than that of the previous year. However, the prices of these goods and services are higher than in 2022, about 6.6 percentage points higher overall.

Excluding the 0.3% real decline, Germany's nominal GDP in 2023 expanded to 4,121.16 billion euros at market prices, a nominal increase of 6.3%. Combined with the impact of the appreciation of the euro exchange rate, the size of the German economy rose to 4.456 trillion in dollar terms.

By contrast, Japan's economy grew by 1.9 percent in real terms, but prices rose slower than in Germany. The yen's underperformance in 2023 has led to a drop in Japan's GDP to 4.21 trillion in dollar terms, with Japan's GDP falling to fourth in the world and Germany's to third.

Typical representatives of the third scenario are the United States, China

In 2023, the economy will actually increase by 2.5%, inflation will be high, the dollar will appreciate relative to the currencies of most countries, and a combination of factors such as the help of safe-haven funds will push the nominal GDP of the United States at market prices to soar to $27.37 trillion.

In China, the real economic growth in 2023 will be 5.2%, which is more than twice the economic development level of the United States, and the mainland is more active. But prices in China are "deflationary, not inflationary like the United States," and the renminbi has depreciated by several percentage points.

As a result, China's GDP in 2023 will drop to 17.89 trillion in dollar terms, which is only about 65.36% of that of the United States, and the gap has widened. Nansheng called this phenomenon "alienation", with China winning "in the bones" and the United States winning "on the surface". Who wins and who loses depends on the angle of observation.

Finally, share the economic report cards of some other countries

Among the 20 countries, Kyrgyzstan's economy grew by 6.2 percent year-on-year, Uzbekistan by 6.0 percent, the Philippines by 5.6 percent, Indonesia and Vietnam by 5.05 percent, Belarus by 3.9 percent and Russia by 3.6 percent – outpacing the United States.

Mexico's economy grew by 3.1 percent in 2023, Spain by 2.5 percent, Slovenia by 1.6 percent, South Korea by 1.4 percent, Singapore and Azerbaijan by 1.1 percent, France by 0.9 percent and Lithuania by 0.3 percent. This article is written by Nansheng, and reprinting and plagiarism are strictly prohibited!