WOCU Re-Weighting, November 2021

The second Re-Weighting of 2021 was conducted at 16:00 UTC on November 18.

The total GDP of the WOCU 20 is broadly flat, up to USD 68.727 Trillion from USD 68.444 Trillion in May.

There is no change to the WOCU 20 rankings, apart from The Islamic Republic of Iran directly replacing Saudi Arabia at position #18.

The Iran anomaly is explained by the IMF previously adjusting Iran’s highly overvalued official Iranian Rial FX rate downward (compared with parallel, market rates) in the April 2021 World Economic Outlook (WEO) report, in the expectation of a devaluation. As this devaluation did not materialise, the IMF’s exchange rate assumption in the current WEO was revised back to the realised rate over the year.

The WOCU constituent table, rounded to the nearest whole percentage point, now stands at:

1 United States 30%
2 China 22%
3 Japan 7%
4 Germany 6%
5 United Kingdom 4%
6 India 4%
7 France 4%
8 Italy 3%
9 Canada 2%
10 Korea 2%
11 Russia 2%
12 Brazil 2%
13 Australia 2%
14 Spain 2%
15 Mexico 2%
16 Indonesia 2%
17 Netherlands 1%
18 Islamic Republic of Iran 1%
19 Switzerland 1%
20 Turkey 1%

The next routine re-weighting is due at 16:00 UTC on 19 May, 2022.