ASTANA, Kazakhstan, August 26. Kazakhstan's gross domestic product is projected to increase by 2050, the Goldman Sachs company said, Trend reports.
According to Goldman Sachs, the global economic picture will change significantly in the next few decades. It is predicted that Asia can become the dominant region, making the largest contribution to global GDP, surpassing the traditional economic leaders united in the category of developed markets.
According to Goldman Sachs, presented in the form of a Voronoi diagram, Kazakhstan's GDP will reach $900 billion by 2050.
The volume of Kazakhstan's GDP produced amounted to 23.6 million tenge ($50,727) for the first quarter of 2023.
The chart also presents data on the GDP of the world's leading economies. According to experts, by 2050, China will take the lead with a GDP of $41.9 trillion, followed by the United States with $37.2 trillion and India with $22.2 trillion.
According to analysts, the fastest-growing countries in Asia by 2050 will be India (with GDP growth of 3.1 percent per year), Bangladesh (with growth of three percent per year), and the Philippines (with growth of 3.5 percent per year). These countries expect to succeed due to a high birth rate and a low average age of the population, which will contribute to an increase in the number of labor resources.
In addition, Latin America's share of global GDP is expected to reach seven percent by 2050. According to previous forecasts made by Goldman Sachs in 2011, many Latin American countries have shown low growth rates in recent decades. Brazil's real GDP, for example, decreased from $2.7 trillion in 2010 to $1.5 trillion in 2020. In this regard, Goldman Sachs assumes that Indonesia will be able to bypass Brazil and become the largest emerging market by 2050.
