There is increasing international alarm over the sheer volumes of fossil-fuel based plastics entering the environment, as micro plastics have infiltrated even the most remote and otherwise pristine regions of the planet.

In its report, WWF said societies were “unknowingly subsiding” plastic, with their estimates for the lifetime costs of 2019 production equivalent to more than the gross domestic product of India.

“Plastic appears to be a relatively cheap material when looking at the market price primary plastic producers pay for virgin plastic,” said the report Plastics: The cost to society, environment and the economy, produced for WWF by the consultancy Dalberg.

“However, this price fails to account for the full cost imposed across the plastic life cycle.”

It estimated that unless there was concentrated international action, a projected doubling of plastic production could see costs rocket by 2040 to $7.1 trillion.

The analysis looked at factors including the greenhouse gas emissions in the production process, health impacts, waste management and estimates of the reduction in the economic “services” of ecosystems on land and in water.

United States

The nominal GDP of the US is estimated to exceed USD 21 trillion in 2019. The US economy accounts for 20% of the global output which is larger than China. The US service sector is much developed and technologically.

China

In the last few decades, the Chinese economy has witnessed astonishing growth. China is placed on the list of top 10 economics of the world. The nominal GDP of China is USD 9.2 trillion in 2019.

Japan

The Japanese economy is the third rank based on the nominal GDP forecast in 2019.  Japan is at USD 5.2 trillion. Japan’s economy was rapidly growing during 1960, 1970, and 1980. Despite this, Japan’s economy had not been impressive after 1990.

Germany

Germany captures fourth place among the top 10 economics with a nominal GDP of USD 4.2 trillion based on the forecasts for 2019. This year saw the country showing consistent results.

United Kingdom

The annual growth of the UK’s GDP was 2.8% between 1999 and 2008. Due to a dip in private consumption and dampening of fixed investments, the UK’s GDP is likely to slow down under uncertain conditions.

India

India has placed the fifth position in the topmost economies of the world with a nominal GDP of USD 2.9 trillion in 2019-20. Among the large economic countries, the economy of India has become the world’s fastest-growing economy.

France

The economy of France is the seventh topmost country in 2019. The country’s GDP will be represented at USD 2.9 trillion in 2019. At present, 70% of national GDP stems from the service sector.

Brazil

Brazil was showing a consistent 3.4% GDP growth before the global economic crisis year on year. If the economy shrank down in 2009, yet Brazil’s economy rebounded in the following year recording a 7.5% growth.

Canada

With a nominal GDP of USD 1.8 trillion, Canada is the tenth-largest economy on the earth. According to the estimate, Canada’s GDP is expected to be 2.0% this year.