How has the global economy changed shape in the past 40 years?

The United States has been finally deposed as the biggest economic powerhouse of the World

The global economy has taken a massive hit with the pandemic-driven recession. Some countries have been affected more adversely than others. Although the current crisis is a one-off event, there was already a fundamental shift occurring in the global economy. The IMF expects a cumulative economic loss of $9 trillion through 2021.

Exactly how will the pandemic affect the individual & cumulative GDP of the global economies remains to be seen, but today’s infographic looks at how the Top 10 economies of the World have changed over the past four decades. The data for the GDP figures was taken from the International Monetary Fund (IMF) from 1980 to 2020 with a projection for 2021. Countries from various continents were color-coded to show the difference.

Here are some of the key takeaways from this report:

• For the past 40 years, the United States has been the biggest economy of the World by a wide margin… until now. This year marks the first time that the U.S with $22.32 trillion GDP has moved to the second stop. Prior to this, it grew from $2.86 trillion in 1980 to a projected $23.18 trillion in 2021.