Jamaica is projected to be the worst performer out of 189 countries in terms of growing its economy over the next 15 years.
That’s according to the U.S. Department of Agriculture’s latest macro-economic projections.
The projections show the United States, will be far less dominant, with several emerging markets making significant gains.
Among them India, which is expected to be the third largest economy by 2030.
The report makes depressing reading for Jamaica.
The island is expected to be the worst performing economy over the next 15 years.
According to the US Department of Agriculture’s latest macro-economic projections, Jamaica will slump 13 places in the overall ranking from 123 to 136.
The rankings cover the performance of 189 countries in terms of the size of the size of their economies.
The projected fall in Jamaica’s ranking is predicated on growth rates of below 2 percent for every year until 2030, with the country’s GDP expected to be just over 18 billion US dollars by that time.
Meanwhile, the report says 15 years from now, the U.S. will be far less dominant, as several emerging markets will catapult into prominence.
It says the U.S. will just barely remain the global leader – ranked at number 1, with just under 25 trillion US dollars in annual output.
That will be up from the 17 trillion US dollars in gross domestic product projected for US GDP this year.
The US was worth 25 percent of the world economy in 2006.
That’s expected to fall to 23 percent this year, and 20 percent in 2030.
Meanwhile, China’s GDP will grow to more than twice its size today – reaching over 22 trillion US dollars, helping the Asian powerhouse to almost entirely close its gap with the U.S..
And, some of the largest European economies will be slipping behind.
India, ranked eighth for 2015, will climb past Brazil, the United Kingdom, France, Germany and Japan to take third place in the world ranking by 2030.
The International Monetary Fund, IMF, calls India “the bright spot in the global landscape.”
The country will have the largest workforce in the world within the next 15 years, the IMF notes, and among the youngest.
Countries with the biggest advances — like Uganda, which will climb 18 spots to rank 91 – are concentrated in Africa, Asia and the Middle East.