Mexico has dethroned Spain as the main Spanish-speaking economy in the World Economic Association – Enseñame de Ciencia

The end of the year threw a lot of talk in economic fields and it was announced on December 27 that Mexico would close the year with the news that by 2023 it would be the largest Spanish-speaking economy in the world, overtaking Spain in rankings.

International Monetary Fund (for short, IMF), In addition to the update in forecasts announced by the agency in recent weeks, it was announced that the Mexican economy intends to close the year 2023 to be the fifteenth (15) largest economy in the world.

Currently, Spain holds that position, so Mexico would overtake the parent country, and position itself as the largest Spanish-speaking economy.

According to the Center for Economic and Business Research (CEBR), Spain ends 2022 with the 16th largest economy in the world, historically overtaken by Mexico 20 years later and twice after last year.

Throughout 2023, until 2037, the Mexican economy will remain in the same forecast position; Except for 2027, when Mexico is expected to change position with the mother country again.

to me Forbes In short, based on these above projections, the Mexican economy, with a GDP that may exceed $1.42 trillion, will end up surpassing the Spanish economy this year, which intends to record a level of GDP that will be around $1,399 billion. “.

The displacement of Spain in this ranking is not the first time, since in 2002 Mexico occupied the same position as it is now, bearing in mind that the country’s wealth was estimated at 772 billion dollars, half of what it is now, and Spain’s GDP was 708 billion dollar.

It has taken 20 years for Mexico to establish itself as the fifteenth (15) largest economy in the world.

It should be noted that the global economy closes in 2022, surpassing $100 trillion for the first time, so by 2037, global GDP is expected to reach $207 trillion.

With this data, Europe is expected to account for less than a fifth (19.4%) of global GDP in dollar terms, compared to 21.9% projected in 2022 and 33.8% 15 years ago.

On the other hand, the United States remains at the top of the 2022 ranking, counting on its position, until the end of the horizon of expectations, to be overtaken by China.

It is expected that by 2037, Europe will have only Germany (5), the United Kingdom (6) and France (7), in the top ten largest economies in the world, reflecting the gradual loss of European weight.

According to the report of the International Monetary Fund , India will rise from fifth place in 2022 to third place in 2037, while Japan will retain fourth place. Likewise, Brazil will rise to eighth place by 2037 from twelfth place this year; South Korea will rank ninth, up from 13th in 2022; Canada will drop to tenth place in 2037 from eighth place in 2022.