We recently compiled a list of the 50 Richest Countries in the World by GDP and in this article we will talk about the country with the largest GDP in the world.
Global Economic Outlook of Richest Countries
The global economy has been facing strong headwinds since the COVID-19 pandemic including the world’s richest countries by GDP. The major economic issues include high inflation, high interest rates, and geopolitical risks. Japan’s economic situation looks bleak and the country’s GDP has plunged during the last two quarters. Japan’s GDP shrank by 3.3% in Q1 2024 and 0.4% in Q4 2023 year-over-year. In the ongoing economic shift, Japan lost its position as the third-largest economy with its GDP at around $6.72 trillion, as of 2024. On May 9, Reuters reported that the Bank of Japan could raise interest rates if the yen drops sharply, leading to higher inflation. Recently, the Bank…
