See the ranking of the world's largest economies in the G20 and expectations for 2024

The G20 summit meeting, held in Rio de Janeiro, highlighting issues such as economic cooperation, sustainability, combating hunger and poverty and reforms in global governance, sparked the Rio holiday season. In addition to reorganizing the city's movement, the event made the capital of Rio de Janeiro the world's stage, turning the planet's attention to the presence of the main global economies.

The nations participating in the meeting, with the entry of the African Union, could take part in the 'G21', but that detail was for the next time. Brazil, South Africa, Germany, Saudi Arabia, Argentina, Australia, Canada, China, South Korea, United States, France, India, Indonesia, Italy, Japan, Mexico, United Kingdom, Russia and Turkey were present, in addition to the Union European and African Union.

_{Ministers of Labor and Employment at the G20 summit discuss the global economic scenario (Photo: reproduction/Gov.br/Thiago Gaspar)}

The 20 biggest of 2023

Data from the International Monetary Fund (IMF) shows the ranking of the 20 largest economies in the world in 2023, diverging from the event's attendance list. An example is the absence of Argentina, which appears in 22nd position.

Ranking of the 20 largest economies in the world in 2023, according to IMF data:

1. United States – US$27.36 trillion

2. China – US$17.79 trillion

3- Germany – US$4.45 trillion

4. Japan – US$4.21 trillion

5. India – US$3.54 trillion

6. United Kingdom – US$3.34 trillion

7. France – US$3.03 trillion

8. Italy – US$2.25 trillion

9. Brazil – US$2.17 trillion

10. Canada – US$2.14 trillion

11. Russia – US$2.02 trillion

12. Mexico – US$1.78 trillion

13. Australia – US$1.72 trillion

14. South Korea – US$1.71 trillion

15. Spain – US$1.58 trillion

16. Indonesia – US$1.37 trillion

17. Netherlands – US$1.11 trillion

18. Türkiye – US$1.10 trillion

19. Saudi Arabia – US$1.06 trillion

20. Switzerland – US$884 billion

_{President Lula after speech at the social G20 (Photo: reproduction/Gov.br/Ricardo Stuckert)}

Projections for 2024

For 2024, the IMF projects Brazil to fall to 10th position, with an estimated GDP of US$ 2.19 trillion. The devalued real against the dollar is one of the factors that influenced the projection. Even so, Brazil continues to play a significant presence in the global economy, mainly in agriculture and renewable energy.

Ranking of the projection for 2024 with the 20 largest economies in the world, according to the IMF:

1. United States – 29.17 trillion

2. China – 18.27 trillion

3. Germany – 4.71 trillion

4. Japan – 4.07 trillion

5. India – 3.89 trillion

6. United Kingdom – 3.59 trillion

7. France – 3.17 trillion

8. Italy – 2.38 trillion

9. Canada – 2.21 trillion

10. Brazil – 2.19 trillion

11. Russia – 2.18 trillion

12. South Korea – 1.87 trillion

13. Mexico – 1.85 trillion

14. Australia – 1.8 trillion

15. Spain – 1.73 trillion

16. Indonesia – 1.4 trillion

17. Türkiye – 1.34 trillion

18. Netherlands – 1.22 trillion

19. Saudi Arabia – 1.1 trillion

20. Switzerland – 942.27 billion

The economic discrepancy according to the ranking is still surreal, but the Brazilian people's hope for better days together with economic cooperation actions, highlighting the objectives of the BRICs, creates a favorable scenario for a new era among emerging countries, giving impetus to the Brazil in this race of giants.

Featured photo: G20 Summit held in Rio de Janeiro (Reproduction/LUDOVIC MARIN/ Getty Images Embed)