Brazilian and Indian economies on the rise

by Craig Janis

In 2011 Brazil is expected to surpass Italy to become the seventh largest economy in the world, and India is expected to move ahead of Spain. From MercoPress:

The research unit of The Economist is predicting that Brazil, the eighth largest economy of the world in 2009, with a nominal GDP of 1.5 trillion, followed by Spain, Canada, India and Russia, would continue in the same position during 2010.

However it is expected that in 2011 the largest Latin American economy will climb up to stand in seventh place in the ranking with a nominal GDP of just over 2 trillion. Thus, Brazil would regain the position it occupied in 1994 displacing Italy which it is not expected to reach 1.8 trillion in nominal output. Another European Economy that will surrender position among the largest economies in the world is Spain, being relegated to the 12th post because of the significant advance of Russia and India.