Poland's adjusted income to overtake Japan's by 2026

Poland's adjusted income to overtake Japan's by 2026

Poland's adjusted per capita income is set to overtake Japan's by 2026. / bne IntelliNews

By bne IntelliNews July 15, 2024

New GDP per capita PPP data from the World Bank suggest that Poland's GDP-adjusted income is likely to overtake that of Japan by 2026.

Based on the current growth projections from the International Monetary Fund (IMF) World Economic Outlook (WEO) in April 2024, Poland is fast catching up with Japan in per capita income terms.

Japan’s growth has been lacklustre in recent years. It was recently overtaken by Russia and the size of its economy was knocked into fifth place, as Russia became the fourth largest economy in the world in PPP (purchase power parity) adjust terms according to the World Bank.

Of the top four largest economies, three are now BRICS members: China (1), India (3) and Russia (4). The US was the second largest in adjusted terms and the largest in nominal terms.

In general, the Emerging Markets (EMs) are growing much faster than the Developed Markets (DMs). Germany has also slid down the rankings and was knocked into sixth place by Russia.

Poland’s rise is an exception for Europe where most of the major economies are close to recession thanks to the boomerang effect of sanctions, which are increasingly hurting Europe more than they are hurting Russia.

The Russian economy is currently flourishing, according to the latest Central Bank of Russia (CBR) macroeconomic survey, although the regulator is grappling to contain high inflation which is now over 9% and rising. Russia’s economy grew by 3.6% last year and is on course to grow by 3-3.8% this year, according to various estimates.

#Japan #Poland #bneChart #macro

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