While an economic contraction is expected in many European countries as well as USA and England as a result of the global financial crisis, the locomotives of the world’s economy will be the BRIC countries, consisting of Brasil, Russia, India and China. In 2009 the gross domestic product (GDP) of the BRIC countries will increase by 549 billion dollar.
When the International Monetary Fund’s (IMF) forecastings concerning the coming year in its “World Economic Outlook“ report, published on the 6th of November, are considered, the gross domestic product of the G7 countries - USA, Japan, Germany, France, England, Canada and Italy – which was 32 trillion 725,8 billion dollar this year, is expected to decrease to 32 trillion 524,4 billion dollar in 2009 with the prices of 2008. Accordingly, G7 countries’ GDP is anticipated to decrease by 201,4 billion dollar with the prices of 2008 in the upcoming year.
The gross domestic product of USA is predicted to be 14 trillion 334 billion dollar this year, so it is expected to decrease with a %0,7 contraction next year and make 14 trillion 233 billion dollar with the prices of 2008. With this decline, USA’s gross domestic product will decrease by 100,3 billion dollar in 2009.
The economy of Japan will also experience a decrease by 9,7 billion dollar in its GDP next year. So it’s 4 trillion 844 billion dollar-GDP of this year is going to deteriorate down to 4 trillion 834 billion dollar next year with a %0,2 contraction.
The leading economy of Europe, Germany’s GDP will decrease to 3 trillion 788 billion dollar with the expected %0,8 contraction in 2009. When the next year’s predicted loss of Germany is compared to this year, it will be around 30,5 billion dollar.
One of the countries to experience the biggest contraction is England. In the case of accruing the expected %1,3 contraction in England, the GDP of the country is going to decrease 36,2 billion dollar.
On the other hand Canada’s the gross domestic revenue is anticipated to be 1 trillion 564 billion dollar this year and with an expected increase of % 0,3, it’s GDP will reach to 1 trillion 568,8 billion dollar in 2009. Accordingly it’s GDP will increase by 4,7 billion dollar.
In 2009, the GDP of the France economy will decrease by 14,9 billion dollar with a % 0,5 contraction and the GDP of Italy will decrease by 14,4 billion dollar with a contraction of % 0,6.
BRIC COUNTRIES
The GDP of China will reach to 581, 3 billion dollars with an increase of 358,9 billion dollars in the next year in case the growth of it, whose GDP was 4 trillion 222,4 billion dollar in 2008, is %8,5.
In the condition that China’s growth will be %7,5 in 2009, it’s gross domestic product will reach up to 4 trillion 539 billion dollar with an increase of 316,7 billion dollar.
Russia will see an 62,3 billion dollars-increase in it’s domestic income next year if it will gain % 3,5 growth. Russia is expected to increase it’s domestic income to 1 trillion 841 billion dollar in 2009, whose GDP is anticipated to be 1 trillion 778,7 billion dollar this year.
Another BRIC country, Brasil’s GDP is predicted to reach to 1 trillion 714,6 dollar with a growth of %3, whose GDP is 1 trillion 664,7 billion dollar this year. This way, Brasil’s GDP of 2009 will increase 49,9 billion.
According to the predictions of % 6,3 growth in India, it’s domestic income will experience an increase of 78 billion dollar next year. The country’s domestic income will be 1 trillion 315,4 billion dollars in 2009.
If these forecastings come true, BRIC countries are going to increase the world product 348 billion dollars more after supplying the decline of GDP’s of G7 countries with the prices of 2008.
SPAIN, MEXICO AND TURKEY
The economy of Spain, which is not a member country of G7, is also expected to experience a contraction of % 0,7 in 2009. Accordingly this year’s GDP of 1 trillion 683,2 billion dollar will decrease to 1 trillion 671,4 billion dollar next year. In case a growth of % 0,9 will take place in Mexico, it’s domestic income will reach up to 1 trillion 152,9 billion dollars.
The forecastings for the world’s 17th biggest economy of Turkey are changing. One of the most conservative of these forecastings have been made by the Organization of Economic Cooperation and Development (OECD). OECD has predicted that the growth of Turkey will be under % 2 in 2009. In this case, Turkey’s expected GDP of 798,9 billion dollar for this year by the numbers of IMF, will increase to 814,9 billion dollars in with the prices of 2008.
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