Changing of the guard: Canada to drop out of top-10 economies by 2020
U.K. think tank forecasts South Korea's GDP will overtake Canada within four years, expects China to usurp U.S.'s top spot by 2030
Exporting & Importing
Research & Development
Sales & Marketing
Technology / IIoT
Food & Beverage
Mining & Resources
Oil & Gas
TORONTO—A U.K.-based think tank says Canada will have the world’s 10th largest economy in 2017, but will be overtaken in a few years by South Korea.
The analysis from the Centre for Economics and Business Research, published in co-operation with Global Construction Perspectives, estimates Canada’s gross domestic product will be worth 1.635 trillion U.S. dollars next year.
That would put Canada’s GDP just ahead of South Korea, ranked No. 11.
But by the end of 2019, the think-tank says Canada will be knocked to 11th spot by South Korea—in current U.S. dollars.
It also forecasts Canada’s ranking will drop to No. 12 on the World Economic League Table by 2030—when the United States will drop out of the No. 1 spot, which it has held for decades, overtaken by China.