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India joins Top 10 economies

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SINGAPORE (Reuters) – The World Bank has released rankings for gross domestic product for 2004, showing India has joined the league of the world’s biggest 10 economies.

The first seven places are unchanged from 2003 but Spain has overtaken Canada to become the world’s eighth-biggest economy. {{more}}

The table below gives the rankings for the top 20 economies in the world. Web site for the GDP figures and other World Bank tables is: http://www.worldbank.org/data/quickreference/quickref.html

2004 World Economic Ranking in US$ billion – (2003 ranking in brackets)

1. United States (1) 11,668

2. Japan (2) 4,623

3. Germany (3) 2,714

4. United Kingdom (4) 2,141

5. France (5) 2,003

6. Italy (6) 1,672

7. China (7) 1,649

8. Spain (9) 991

9. Canada (8) 980

10. India (12) 692

11. South Korea (11) 680

12. Mexico (10) 676

13. Australia (13) 631

14. Brazil (15) 605

15. Russia (16) 582

16. Netherlands (14) 577

17. Switzerland (17) 359

18. Belgium (18) 350

19. Sweden (19) 346

20. Turkey (21) 302

NOTE: Taiwan is not included in the World Bank statistics. Taiwan’s statistics agency says current price GDP in 2004 was T$10.206 trillion. Using an end-2004 exchange rate of US$1=31.9 Taiwan dollars, the island’s GDP would be equal to about $320 billion, which would make it the world’s 20th biggest economy ahead of Turkey.

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