Spain regains positions in the world GDP ranking30 October 2018
It overtakes Australia to 13th place in the countries with the largest gross domestic product
Spain's GDP has seen a slight improvement, to judge from the data published at the start of October by the International Monetary Fund during its annual assembly in Indonesia. According to the analysis by the organization headed by France's Christine Lagarde, Spain is now in 13th position in the list. It thus moves up one position and overtakes Australia.
The forecasts for economic indicators such as unemployment, debt and the deficit have been revised downwards, which has not prevented Spain's GDP from reaching 1.25 billion euros and exceeding the 1.2 billion euros of last year. This growth follows the pattern of the three previous financial years and consolidates its period of expansion.
Still some way from regaining the ninth place it held in 2009 –and eighth in 2007–, the Spanish economy is starting to regain positions and return to the place it lost in 2013.
Other changes at the top of the ranking
Meanwhile, at the top of the table, a post-Brexit United Kingdom could lose its fifth position in 2019 and fall to 7th, whereas India would take the opposite path and rise to fifth place. The four top places would continue to be held by the United States, China, Japan and Germany, whereas France would come sixth.
Italy is the third European country in the table, eighth at the world level, while Spain is the fourth in Europe. In the middle are, in this order: Brazil, Canada, South Korea and Russia. Behind Spain, the remaining countries in the top 20 economies in the world are Australia, Mexico, Indonesia, Netherlands, Saudi Arabia, Turkey and Switzerland.