The top 10 economies in 2020

Emerging economies will take centre-stage in terms of gross domestic product (purchasing power parity) growth by 2020.

China will overtake the United States to become the largest world economy in 2017 says Euromonitor International.

More emerging economies will find a place among the top ten economies' list by 2020. Six out of the ten biggest economies in 2010 were advanced countries.

With five emerging countries in the list of top ten largest economies, global power will become more balanced by 2020, according to Euromonitor.

Click NEXT to find out which nations will form the list of the top 10 economies by 2020...

1. CHINA

China is likely to become the world's largest economy by 2017.

In 2010, China was ranked as the second largest economy in the world, with GDP making up 13.3 per cent of the world total in PPP terms.

China's share in world total GDP in PPP terms has increased from 7.1 per cent in 2000 to 13.3 per cent in 2010.

In China, the number of households with an annual disposable income above $10,000 (in nominal terms) will almost quadruple from 57.1 million in 2010 to 222 million households by 2020. By 2020, it will reach 20.7 per cent, says Euromonitor.

GDP 2010: $9,711,244 million
GDP 2020: $28,124,970 million

2. UNITED STATES

The United States of America is the world's largest economy. However, its share in world GDP in PPP terms has dropped from 23.7 per cent in 2000 to 20.2 per cent in 2010 due to faster growth of emerging economies and the financial crisis in 2008-2009.

The economy has recovered since early 2010 owing to stimulus measures, says Euromonitor International.

GDP 2010: 14,802,081 million
GDP 2020: $22,644,910 million

3. INDIA

India, the fourth largest economy will surpass Japan to become the world's third largest economy, with GDP accounting for 5.8 per cent of the world total in PPP terms.

In the long term, India could grow even faster than China due to its younger and faster growing population, says Euromonitor.

GDP 2010: $3,912,911 million
GDP 2020: $10,225,943 million

4. JAPAN

Japan's economy recovered slightly in the mid-2000s after a prolonged period of stagnation due to inefficient investments and the burst of asset price bubbles, says Euromonitor.

The country has been hit hard by the global economic downturn since 2008. The Tsunami and earthquake further wrecked havoc on Japan's economy.

GDP 2010: $4,267,492 million
GDP 2020: $6,196,979 million

5. RUSSIA

By 2020, Russia will rank higher than Germany in the top ten economies in terms of GDP measured at PPP terms and become the fifth largest economy.

GDP 2010: $2,221,755 million
GDP 2020: $4,326, 987 million

. . .

6. GERMANY

In 2010, the European Union (EU) economies accounted for 20.6 per cent of world GDP measured at PPP terms, down from 25.1 per cent in 2000, says Euromonitor.

Population ageing and rising unemployment have contributed to their slowdown.

GDP 2010: $2,861,117 million
GDP 2020: $3,981,033 million

7. UNITED KINGDOM

On a per capita basis, advanced economies' GDP and spending power will continue to rank above emerging economies.

In 2020, annual disposable income per capita is forecast at $5,807 in BRIC countries, well below $31,050 in the eurozone in US dollar terms.

GDP 2010: $2,183,277 million
GDP 2020: $3,360,442 million

. . .

8. BRAZIL

Brazil will surpass both the United Kingdom and France to become the 8th largest economy in 2020.

GDP 2010: $2,138,888 million
GDP 2020: $3,868,813 million

9. FRANCE

France's GDP expanded 0.9 percent in the first quarter of 2011. From 1978 until 2010, France's average quarterly GDP growth was 0.49 per cent hitting a high of 1.60 per cent in June in 1978.

GDP 2010: $2,154,399 million
GDP 2020: $3,214,921 million

10. MEXICO

By 2020, Mexico will have overtaken Italy to be the world's 10th largest economy by GDP measured at PPP terms.

A growing population and proximity to the US aids the country's economic development.

GDP 2010: $1, 500,000 million
GDP 2020: $2,838,722 million