These will be the 21 most powerful economies in 2030

Emerging markets will start to dominate rankings of the world's top economies by 2030, according to a report published earlier this year.

The report, published by PricewaterhouseCoopers, finds that emerging markets such as India and Brazil will increasingly challenge the economic dominance of the USA and China, while others slip behind.

The report ranks countries by their projected global gross domestic product by purchasing power parity (PPP). PPP is a model which describes the purchasing power, and therefore value, of a given currency.

See which countries made the list:

All numbers cited in the slides are in US dollars and at constant values (for reference, the US's current PPP is $18.569 trillion)

21. Nigeria — $1.794 trillion

20. Pakistan — $1.868 trillion

19. Egypt — $2.049 trillion

18. Canada — $2.141 trillion

17. Spain — $2.159 trillion

16. Iran — $2.354 trillion

15. Italy — $2.541 trillion

14. South Korea — $2.651 trillion

13. Saudi Arabia — $2.755 trillion

12. Turkey — $2.996 trillion

11. France — $3.377 trillion

10. United Kingdom — $3.638 trillion

9. Mexico — $3.661 trillion

8. Brazil — $4.439 trillion

7. Germany — $4.707 trillion

6. Russia — $4.736 trillion

5. Indonesia — $5.424 trillion

4. Japan — $5.606 trillion

3. India — $19.511 trillion

2. United States — $23.475 trillion

1. China — $38.008 trillion

Read more:

• A faulty Hotpoint fridge was the cause of Grenfell Tower's catastrophic blaze
• Brexit one year on proves it has been a diabolical and costly waste of time
• New poll finds the British public have turned against a 'Hard Brexit'

Read the original article on Business Insider UK. © 2016. Follow Business Insider UK on Twitter.