France overtakes Britain in world economy rankings by GDP
For the first time since 2013, the French economy has moved to fifth place, above that in Britain, in world economy rankings by Gross Domestic Product published by the International Monetary Fund.
BritainBritain has officially lost the title of "the world's fifth largest economy" after being overtaken by France, reports The Evening Standard.
Uk Chancellor Philip Hammond acknowledged the drop in Wednesday's Budget, calling Britain "the world's sixth largest economy" during his speech.
The Treasury cited forecasts for Britain's GDP, published by the International Monetary Fund (IMF), as an indication of the country's declining status.
Figures show France narrowly beating the UK in the global ranking of national economies, a gap expected to widen even further in 2018.
This will be the first year since 2013 that France has outperformed the UK in the rankings, according to the IMF.
