At present, whether it is a difficult year or the impact of the global pandemic, the economies of various countries have rebounded. How did the GDP of the world's major countries perform in the first three quarters?Let's take a look.
The Indian economy had a strong performance in the first three quarters of 2023, having experienced a 61%, 7After 8%, the third quarter achieved 76% skyrocketing. This growth momentum has once again made India the frontrunner among the world's largest economies. Among them, the manufacturing industry increased by 13 percent year-on-year9%, ranking first among major industries. The construction industry increased by 13 year-on-year3%, electricity, gas, water and other utilities increased by 101 percent, mining grew by 10 percent, and public administration, defence and other services increased by 76 per cent, and financial, real estate and professional services grew by 6 per cent. Wholesale zero**, accommodation and catering, transportation and communications and other related services increased by 43%。Only agriculture, forestry and fishery increased by 12%。
The source of this sustained growth remains domestic demand, which provides a cushion against external shocks. The resilience of India's economy has once again been confirmed. Modi** is investing heavily in the country's infrastructure and continues to strengthen its investment attraction strategy to provide subsidies to global multinationals looking to establish production bases in India. While it is relatively easy for large multinationals to enter the Indian market, leaving India comes with a variety of challenges.
According to preliminary statistics, in the first three quarters of 2023, India's nominal GDP was 718173Rs 800 crore, up 6 year-on-year1%；The second quarter was 706653Rs 400 crore, up 7 year-on-year8%；The third quarter was 716615Rs 700 crore, up 7 year-on-year6%。According to the market** accounting, the preliminary statistical results of India's nominal GDP in the first three quarters were 2141442Rs 900 million, achieved 71% real growth. At average exchange rates, India's economy in the first three quarters was $2,599.5 billion, ranking fifth in the world, behind the United States, China, Germany and Japan.
Looking ahead, it would not be surprising if India can continue to maintain its economic growth momentum of around %, and achieve a GDP that catches up with Germany and Japan. According to the Nihon Keizai Shimbun**, India is on track to overtake Japan and Germany to become the world's third-largest economy by 2026.
In the first three quarters of 2023, the size of the U.S. economy continued to expand, reaching about 20$3 trillion and continues to lead the way among countries around the world. China's economy grew by 5 percent year-on-year2%, which is a good result, but due to the impact of price deflation and the poor exchange rate of the renminbi, the economic scale in US dollar terms has fallen to 130157 billion US dollars, and the gap with the United States has widened.
Japan's economy increased by 1 year-on-year7%, but due to inflation and exchange rate drags, the economy was overtaken by Germany and fell to the fourth place in the world. Germany's economy fell by 04%。The UK's economy grew by 0 year-on-year5%, and the preliminary GDP is 2,511.2 billion US dollars;France's GDP was $2,243.4 billion, up 07%；Mexico's GDP grew by 34%；Spain's GDP was $1,165.1 billion, an increase of 26%。
Through the analysis of the GDP performance of the world's major economies in the first three quarters, we can see that India's economy has continued to grow, becoming the fifth largest economy in the world, and is expected to surpass Japan and Germany in the next few years to become the world's third largest economy after the United States and China. Other economic powers also had their own bright spots, with the United States continuing to lead the way, China growing better, Japan and Germany showing a little weaker, and countries such as the United Kingdom, France, Mexico and Spain also showing some growth.
From these data, we can see that the global economy is gradually recovering, and various countries are trying to drive economic growth. However, economic development is not only a competition of numbers, but also requires the joint efforts of all countries to strengthen international cooperation, respond to global challenges, and create a better environment for sustainable economic development.
As a self-editor, I deeply feel that the meaning behind economic data is not only a country's economic strength, but also reflects a country's comprehensive strength and development potential. In this era of fierce global competition, every country needs to enhance its international competitiveness through continuous innovation and development. At the same time, it is also necessary to pay attention to the impact of economic development on the environment and society to achieve the goal of sustainable development.
In the face of future challenges and opportunities, all countries need to keep an open mind, promote international cooperation and jointly address global challenges, and jointly promote economic prosperity and social progress. It is only through cooperation that we can work together to create a more prosperous, stable and sustainable world.