Canada’s economy to drop out of global top 10 by 2020: report
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.
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.
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.
© 2016 The Canadian Press