Key Points
For the purpose of arriving at the list of the fastest growing major economies for 2024, EY has short-listed the worlds top 25 largest economies in the world by nominal GDP size..
These economies have then been ranked in terms of the highest GDP growth rate for 2024 as projected by the International Monetary Fund (IMF) in its latest World Economic Outlook..
India is the fastest growing major economy in the world according to the IMFs World Economic Outlook Update - July 2024..
China is the worlds second fastest growing major economy with a projected GDP growth rate of 5% in 2024 and 4.5% in 2025, according to the IMF..
The United States of America is currently the worlds largest economy in nominal GDP terms..
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