The $100 Trillion Global Economy into 2030

Aug 2, 2022

The global economic output for 2022 is expecting to surpass the $100 trillion mark for the first time, according to the International Monetary Fund (IMF). That’s $100,000,000,000,000!

According to the latest projections, the IMF expects the global economy to reach nearly $104 trillion in nominal value by the end of 2022.

The smallest economy in the world measured is Tuvalu at $66 million, compared to the world’s largest economy, the United States, at $25.3 trillion, which makes up nearly one quarter of the global economy.

Perhaps even more notable is that total GDP is predicted to then double to $200 trillion by 2035. In part, the current surge reflects how effectively the world’s biggest economies have adjusted to the pandemic.

But rising inflation, particularly in the U.S., is playing an even bigger role in driving up GDP right now than true organic growth, says Karl Thompson, an economist at CEBR.

Looking ahead, China is expected to pass the U.S. as the world’s largest economy in 2030.

While global economic growth has already been revised downwards, it’s possible the situation could be even more serious.

Organizations like the World Bank say that risks of stagflation are rising. Stagflation, which hasn’t occurred since the 1970s, is defined as an economy that’s experiencing rising inflation combined with a stagnant economic output.

Currently, global consumer inflation is currently pegged at 7%. Daily goods are becoming increasingly difficult to purchase and interest rates are on the rise as central banks worldwide try to control the situation.

As recent events in Sri Lanka demonstrate, low-income countries are particularly at risk to economic volatility.

Many businesses go global to access greater talent pools, reach new markets, and diversify their teams for better business continuity. With that being said, here is a list out the top 15 countries by GDP in 2022 as a guide.