• President-elect Donald Trump and his wife Melania Trump walk from a meeting with Senate Majority Leader Mitch McConnell at the U.S. Capitol November 10, 2016 in Washington, DC.

President-elect Donald Trump and his wife Melania Trump walk from a meeting with Senate Majority Leader Mitch McConnell at the U.S. Capitol November 10, 2016 in Washington, DC. (Photo : Getty Images/Mark Wilson)

Republican nominee Donald Trump scored an upset victory over Democrat Hillary Clinton to be declared the 45th president of the United States on Nov. 9, Wednesday. Trump, a real estate magnate and former reality television series host, will be the first U.S. president who did not hold any public office or serve the military earlier.

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Trump, 70, defied all predictions and polls to stage a shocking and historic victory by winning several battleground states, including Florida, Ohio, North Carolina, Pennsylvania and Wisconsin. He fought a lengthy and bitter campaign to secure 278 electoral votes, six more than the required 270, from 27 states to capture White House, AP reported.

Along with Trump, Indiana Governor Mike Pence, 57, will be sworn-in as the vice-president on January 20, 2017. Earlier, Pence served as a member of the House of Representatives for long.

Trump's victory in the key 'swing states' like Ohio, North Carolina and Florida has been crucial. These 'swing states,' also dubbed as 'battle ground states,' have never voted consistently either for the Democrats or the Republicans.

On the other hand, former secretary of state and Democrat nominee Clinton won just 218 electoral votes, much less than expected. She had pinned her hopes on the 'swing states,' but they returned her empty handed. While the final results are yet to come, they are do not matter anymore.

Trump upset victory may have significant ramifications, both economic as well as political, Eurasia Review reported. In recent days, stock markets had seen an upward swing, as polls showed Clinton ahead of her rival in the run-up to the historic election. However, the markets nosedived on Nov. 8, Tuesday, as Trump pulled off a string of surprising victories.

Experts are predicting a global upheaval if Trump really follows up his aggressive campaign promises, which include building a wall down the length of the U.S.-Mexico border, imposing stricter trading stipulations on China, and forcing the U.S. manufacturers not to outsource their operations overseas.

As far as the political significance of Trump's victory is concerned, Republicans will now control of both the executive as well as legislative wings of government. This, in turn, may result in the long-standing demands for GOP to be materialized. It is anticipated that Trump may repeal "Obamacare" and also withdraw regulations that limit emission of greenhouse gases.

Watch Donald Trump delivering his victory speech in the early hours of Nov.9, Wednesday, morning: