The global economy has taken a hard hit during the COVID-19 pandemic
Before the crisis overtook the world, the global economy was right at $88 trillion. Several of the world’s largest economies have gone into recession. The recovery is predicted to take more time than first thought by world economists. The International Monetary Fund’s World Economic Outlook estimated the global growth at -4.9 percent this year. The IMP is predicting a global increase of 5.4 percent for 2021, 6.5 percent lower than predictions before the pandemic.
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In 2019, 16 economies had a GDP above $1 trillion, and the United States was by far the largest economy with more than $21 trillion of the total. China was second with just over $14 trillion, and Japan came in third with $5 trillion. The top ten countries with the largest economies made up 66 percent of all GDP.
The smallest region with three separate economies is Africa, with Nigeria, Egypt, and South Africa. The three economies make up $1.1 trillion of the worldwide GDP. There are many opportunities available for you in the United States. The US has stayed stable through the entire pandemic and is a place where you can find economic stability.
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