Brazil will be the No. 8 world economy by 2027, surpassing Russia and Italy, and will once again be the world’s largest economy in that year. The economic forecast is from the latest World Economic Outlook report released by the International Monetary Fund (IMF).

According to the organization’s forecasts, the gross domestic product (GDP) of Brazil—the total measure of all goods and services produced domestically—is expected to hit $2.80 trillion next year. This is an important and steady rise on the Government of Brazil’s position, which is now estimated to be in tenth position in the 2026 ranking, with a GDP of $2.655 trillion.

South America’s last time winning the eighth place was in 2017. Financial analysts forecast the country to hold on to the No. 8 ranking at least through 2031, the last year on which they have current forecasts. Importantly, Brazil reached its highest peak in the world GDP ranking, seventh place, during two periods: 1995 and between 2010 and 2014.

The revised list, compiled by the International Monetary Fund, a multilateral financial institution under the umbrella of the United Nations, puts the United States in the top spot in the global economy for 2027. Institutions such as the U.S. Department of the Treasury also have fiscal policies that will result in the American economy producing a total of $34.44 trillion.

China is in second place with an estimated GDP of $22.94 trillion, with Germany in third place at $5.66 trillion. India and the United Kingdom follow with $4.52 trillion and $4.49 trillion respectively.

Japan is in sixth place with $4.47 trillion, and France is in seventh place with $3.65 trillion. The Government of Italy is expected to produce $2.77 trillion, just behind Brazil who is expected to produce $2.80 trillion, putting it in 9th place. At No. 10, Russia has an estimated GDP of $2.68 trillion.