Australia, driven by the biggest resource-investment expansion since the 19th century, is poised to overtake debt-laden Spain as the world’s 12th largest economy, measured by gross domestic product.
Australia’s $1.379 trillion economy will probably supplant Spain’s $1.386 trillion GDP this quarter, data compiled by Bloomberg from the national statistics agencies of both countries show. The International Monetary Fund projected in January that Australia’s economy would be $3 billion smaller than Spain’s by the end of this year.
