India’s performance in the first quarter of 2021 pushed it past the United Kingdom and into the fifth spot on the list of the world’s largest economies.
After starting the 2019 fiscal year in the tenth position, the United Kingdom has now risen to the sixth spot. During the quarter ending in March, the US economy was valued at USD 854.7 billion in ‘nominal’ cash terms, according to a survey conducted by Bloomberg, while the UK economy was valued at USD 816 billion.
The reported figure is the result of applying the adjusted basis to the dollar exchange rate in effect on the last day of the relevant quarter.
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