IMF WEO Database (April 2016): BRIC and USA Nominal GDP

[Martian]

The IMF has published the latest and most accurate nominal GDP for 2015.

China's currency has fluctuated a little. This has slowed down the Chinese nominal GDP.
Indian nominal GDP flatlined, because its currency is depreciating faster.
Brazil's nominal GDP went into reverse, because its currency has depreciated along with the huge drop in commodity prices.
Russian nominal GDP also went into reverse when oil prices collapsed.

Interestingly, Chinese nominal GDP is twice the size of Brazil, Russia, and India combined (or BRIC without China).

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Report for Selected Countries and Subjects

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Regarding 2015 nominal GDP, the most interesting event is the United States overtaking the European Union. The US Dollar gained in value against the Euro and the United States has now pulled ahead in nominal GDP.

List of countries by GDP (nominal) - Wikipedia, the free encyclopedia

 

[Martian]

China's economy grew 11 times faster than India's in a four-year period.

In 2010, China's nominal GDP was $6 trillion.
In 2014, China's nominal GDP was $10.35 trillion.
From 2010 to 2014, China's nominal GDP grew by $4.35 trillion.

In 2010, India's nominal GDP was $1.7 trillion.
In 2014, India's nominal GDP was $2.05 trillion.
From 2010 to 2014, India's nominal GDP grew by $0.35 trillion.

($4.35 trillion - $0.35 trillion) / $0.35 trillion = 11 times faster growth

The media headlines of India outgrowing China are total nonsense. The media is comparing Indian economic growth in Rupees to Chinese economic growth in Yuans. This is an extremely misleading comparison.

Both economies MUST be normalized to US dollars to enable a meaningful comparison. When the two countries are compared on a nominal GDP basis, Chinese economic growth is 11 times larger than Indian economic growth over the same time period.

By the way, China continued to outgrow India by a factor of eleven in 2015. China's nominal GDP grew by $550 billion. Indian nominal GDP only grew by $48 billion. The Chinese economy grew eleven times faster than India's in 2015.

 

[Martian]

IMF WEO Database (April 2016) nominal GDP projections for world's ten largest economies.

We're getting close to the half-year mark for 2016. Here is the latest IMF WEO Database (April 2016) nominal GDP projections for this year and the upcoming years.

Report for Selected Countries and Subjects | International Monetary Fund