Canada’s economy to drop out of global top 10 by 2020: report

TORONTO – A U.K.-based think-tank says Canada will have the world’s 10th largest economy in 2017, but will be overtaken in a few years by South Korea.

READ MORE: Here’s how the economy could combust, according to the Bank of Canada

The analysis from the Centre for Economics and Business Research, published in co-operation with Global Construction Perspectives, estimates Canada’s gross domestic product will be worth 1.635 trillion U.S. dollars next year.

WATCH: Trudeau says protecting the environment and growing economy go together 

2:17 Trudeau says protecting the environment and growing economy go together

That would put Canada’s GDP just ahead of South Korea, ranked No. 11.

But by the end of 2019, the think-tank says Canada will be knocked to 11th spot by South Korea – in current U.S. dollars.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Sign up for weekly money newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

READ MORE: Canada facing economic unknowns in 2017 in wake of President-elect Donald Trump

It also forecasts Canada’s ranking will drop to No. 12 on the World Economic League Table by 2030 – when the United States will drop to No. 2, from the top spot that it has held for decades, by China.