In the global economic crisis in 2023 during the Ukraine-Russia war and some conflicts on borders, politics, and dominance of the United States Dollar. Most countries are facing the biggest collapse in their economy, coup, political, investment, and export or import rapidly falling from top to bottom. All the friendship countries of Russia like India, China, Belarus, Kazakhstan, Syria, Iraq, Germany, the US, South Korea, and Japan. now feel the happy journey with Russia’s Oils, Petroleum Gas, Coal Briquettes, and Gold to buy in cheap prices and also export to their neighborhood countries.
Russian & EU economies are together losing because of the War in Europe and tensions between the Border and Seas.
The Russian economy is the world’s fastest declining forex reserves, ruble crisis, exports, and ending the ties with all the countries who were friends and now they are enemies of Russia before the war with Ukraine-Russia and NATO. Russian Oils and Coal or Gold import India to become the largest buyer of Oil in Asia to become a reseller to top countries. Russia’s economy has lost over $152 Billion in the last 3 years.
Here are the reasons and the list of top 10 countries economies Shrinking in 2023 or 2024.
Russia: -$152 Billion (Russia-Ukraine War)
Egypt: -$88 Billion (Food Criss during Russia-Ukraine War )
Canada: -$50 Billion (wildfires adversely and Financial Losses)
Saudi Arabia: -$46 Billion (Crude Oil supply is running out & EVs)
Bangladesh: -$46 Billion (Highest Taxes, People moving Money out from Country)
Norway: -$25 Billion (fossil fuel, Weaker Developments and Russia NATO war)
Kuwait: -$19 Billion (Decline in Global Investments, drawdown of foreign assets and OPEC)
Oman: -$9.77 Billion (Low Oil Prices, No Tourism, Pandemic Crisis)
Colombia: -$9.25 Billion (economic loss, Low Tourism, Investors & Richest going outside the country )
South Africa: -$6.56 Billion (volatile Commodities, weak growth performance & BRICS)
Top countries to diversify and liberalize the economy of each country with Ideas, business, geography, defense, and politics.
Top countries are diversifying their economy to attract the global investors and businesses, and developing economic growth in countries with modern rules like UAE, Maldives, China, Turkey, Japan, the US, UK, and Germany to open new resources to manage the economy with new technologies, infrastructures, investments, and all the new facility to increase the global demand with BRICS and some more relations with G20 and G7 countries. Turkey is the most powerful country in the EU & NATO to develop new technology with NATO to attract global dominance in their route of new economy vision 2030.