Turkey to be the world’s 13th largest economy in 2026

Turkey will be the world’s 13th-largest economy in 2026, according to data from the International Monetary Fund.

Turkey, which was ranked 17th in the globe for its gross domestic product back in 1985, will step up and rank 16th this year. The share of Turkey in the global GDP was 1.03 percent in 1985, and that figure is expected to increase to 1.35 percent this year.

United States’ share in the world’s GDP is expected to be 19.60 percent this year, while China is foreseen to have a 12.73 percent share and Japan is expected to have a 6.04 percent share in the global GDP this year, according to the IMF.

The rising star of the world’s economy, India, is expected to rank fourth with a 5.1 percent share this year. Germany is expected to rank fifth with a 3.96 percent share in the global GDP, while Russia is foreseen to appear in sixth place with a 3.35 percent share. The share of Brazil in the world’s GPD is expected to be 2.89 percent, ranking ninth, and Italy will rank 10th with a 2.46 percent share in global the GDP.

China gets ahead of the U.S.

Come 2017, China, which has managed to maintain economic growth despite the global crisis, is expected to rank atop of the list, surpassing the United States’ percentage in the global GDP. According to IMF forecasts, China’s share in the world’s economy will increase to 17.49 percent in 2017, while the United States’ share will drop to 17.26 percent. In the same year, the share of India is expected to grow to 6.18 percent.

If the trend expected for 2010 to 2014 continues until 2026, then the GDP ranking of the countries shaping the world’s economy would change significantly, said the IMF.

In such a scenario, China’s share in the global GDP is expected to reach 23.62 percent come 2026. The country will continue to rank atop of the list. The United States, currently the world’s largest economy, will have a 14.24 percent share in the global economy, while India will boost its share to 7.58 percent, according to IMF estimates. It is also forecasted that Japan’s share will stand at 3.69 percent and Russia’s will be 3.66 percent.

Turkey, which is currently among the developing countries, is expected to rise to 13th place in the 2026 world GDP ranking. Turkey is foreseen to step ahead of some strong countries such as Italy, Spain and Canada with a 1.45 percent share in 2026, according to the IMF.