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Overview

World economy by country groups

World economy by continent

Main article: List of continents by GDP § Continents by GDP (nominal)

Current world economic league table of largest economies in the world by GDP and share of global economic growth

Twenty largest economies in the world by nominal GDP

Main article: List of countries by past and projected GDP (nominal)

Twenty largest economies in the world by GDP (PPP)

Statistical indicators

Finance

• GDP (GWP) (gross world product): (purchasing power parity exchange rates) – $59.38 trillion (2005 est.), $51.48 trillion (2004), $23 trillion (2002). The GWP is the combined gross national income of all the countries in the world. When calculating the GWP, add GDP of all countries. Also, GWP shows that imports and exports are equal. Because imports and exports balance exactly when considering the whole world:,⁴³ this also equals the total global gross domestic product (GDP). According to the World Bank, the 2013 nominal GWP was approximately US$75.59 trillion. In 2017, according to the CIA's World Factbook, the GWP was around US$80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately Int$17,500 according to the World Factbook.
• GDP (GWP) (gross world product):⁴⁴ (market exchange rates) – $60.69 trillion (2008). The market exchange rates increased from 1990 to 2008. The reason for this increase is the world's advancement in terms of technology.
• GDP⁴⁵ (real growth rate): The following part shows the GDP growth rate and the expected value after one year.
  • Developed Economies. A developed country, industrialized country, more developed country (MDC), or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. The GDP of the developed countries is predicted to fall from 2.2% in 2017 to 2.0% in 2018 due to the fall in dollar value.
  • Developing Countries. A developing country is a country with a less developed industrial base (industries) and a low Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. A nation's GDP per capita, compared with other nations, can also be a reference point. In general, the United Nations accepts any country's claim of itself being "developing". The GDP of the developing countries is expected to rise from 4.3% in 2017 to 4.6% in 2018 due to political stability in those countries and advancement in technology.
  • Least developed countries. The least developed countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971. This is a group of countries that are expected to improve their GDP from 4.8% in 2017 to 5.4% in 2018. The predicted growth is associated advancement in technology and industrialization of those countries for the past decade.
• GDP – per capita: purchasing power parity – $9,300, €7,500 (2005 est.), $8,200, €6,800 (92) (2003), $7,900, €5,000 (2002)
• World median income: purchasing power parity $1,041, €950 (1993)⁴⁶
• GDP – composition by sector: agriculture: 4%; industry: 32%; services: 64% (2004 est.)
• Inflation rate (consumer prices); In economics, inflation is a general rise in the price level in an economy over a period of time, resulting in a sustained drop in the purchasing power of money. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. national inflation rates vary widely in individual cases, from declining prices in Japan to hyperinflation (In economics, hyperinflation is very high and typically accelerating inflation) in several Third World countries (2003):
  • World 2.6% (2017), 2.8% (predicted 2018);⁴⁷
  • Developed Economies 1% to 4% typically
  • Developing Countries 5% to 60% typically
  • Least developed countries 11.4% (2017), 8.3% (predicted 2018)⁴⁸
• Derivatives OTC outstanding notional amount: $601 trillion (Dec 2010) ([1])
• Derivatives exchange traded outstanding notional amount: $82 trillion (June 2011) ([2])
• Global debt issuance: $5.187 trillion, €3 trillion (2004), $4.938 trillion, €3.98 trillion (2003), $3.938 trillion (2002) (Thomson Financial League Tables)
• Global equity issuance: $505 billion, €450 billion (2004), $388 billion. €320 billion (2003), $319 billion, €250 trillion (2002) (Thomson Financial League Tables)

Employment

• Unemployment rate: 8.7% (2009 est.). 30% (2007 est.) combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%–12% unemployment.

Industries

• Industrial production growth rate: 3% (2002 est.)

Energy

Further information: World energy supply and consumption and Energy development

• Yearly electricity – production: 21,080,878 GWh (2011 est.),⁴⁹ 15,850,000 GWh (2003 est.), 14,850,000 GWh (2001 est.)
• Yearly electricity – consumption: 14,280,000 GWh (2003 est.), 13,930,000 GWh (2001 est.)
• Oil – production: 79,650,000 bbl/d (12,663,000 m3/d) (2003 est.), 75,460,000 barrels per day (11,997,000 m3/d) (2001)
• Oil – consumption: 80,100,000 bbl/d (12,730,000 m3/d) (2003 est.), 76,210,000 barrels per day (12,116,000 m3/d) (2001)
• Oil – proved reserves: 1.025 trillion barrel (163 km3 (39 cu mi) (2001 est.)
• Natural gas – production: 3,366 km3 (808 cu mi) (2012 est.),⁵⁰ 2,569 km3 (616 cu mi) (2001 est.)
• Natural gas – consumption: 2,556 km3 (613 cu mi) (2001 est.)
• Natural gas – proved reserves: 161,200 km3 (38,700 cu mi) (1 January 2002)

Cross-border

• Yearly exports: $12.4 trillion, €11.05 trillion (2009 est.)
• Exports – commodities: the whole range of industrial and agricultural goods and services
• Exports – partners: US 12.7%, Germany 7.1%, China 6.2%, France 4.4%, Japan 4.2%, UK 4.1% (2008)
• Yearly imports: $12.29 trillion, €10.95 trillion (2009 est.)
• Imports – commodities: the whole range of industrial and agricultural goods and services
• Imports – partners: China 10.3%, Germany 8.6%, US 8.1%, Japan 5% (2008)
• Debt – external: $56.9 trillion, €40 trillion (31 December 2009 est.)

Gift economy

• Annual international aid: Official Development Assistance (ODA) of $204 billion (2022)⁵¹

Communications

Telephones – main lines in use: 843,923,500 (2007)4,263,367,600 (2008)

• Telephones – mobile cellular: 3,300,000,000 (Nov. 2007)⁵²
• Internet Service Providers (ISPs): 10,350 (2000 est.)
• Internet users: 3,079,339,857 (31 December 2014 [3]), 360,985,492 (31 December 2000⁵³)

Transport

See also: Transport § Economic, and Category:Transport infrastructure

Transportation infrastructure worldwide includes:

• Airports
  • Total: 41,821 (2013)⁵⁴
• Roadways
  • Total: 32,345,165 km (20,098,354 mi)
  • Paved: 19,403,061 km (12,056,503 mi)
  • Unpaved: 12,942,104 km (8,041,851 mi) (2002)
• Railways
  • Total: 1,122,650 km (697,580 mi) includes about 190,000 to 195,000 km (118,000 to 121,000 mi) of electrified routes of which 147,760 km (91,810 mi) are in Europe, 24,509 km (15,229 mi) in the Far East, 11,050 km (6,870 mi) in Africa, 4,223 km (2,624 mi) in South America, and 4,160 km (2,580 mi) in North America.[dubious – discuss]

Military

• World military expenditure in 2018: estimated to $1.822 trillion⁵⁵
• Military expenditures – percent of GDP: roughly 2% of gross world product (1999).

Science, research and development

See also: List of sovereign states by research and development spending, Economics of science, and Innovation

The Royal Society in a 2011 report stated that in terms of number of papers the share of English-language scientific research papers the United States was first followed by China, the UK, Germany, Japan, France, and Canada.⁵⁶ In 2015, research and development constituted an average 2.2% of the global GDP according to the UNESCO Institute for Statistics.⁵⁷ Metrics and rankings of innovation include the Bloomberg Innovation Index, the Global Innovation Index and the share of Nobel laureates per capita.

Resources and environment

See also: Primary sector of the economy, Sustainable development, Economic impacts of climate change, Environmental resource management § Economics, Planetary management, Agriculture, Overexploitation, Overconsumption, and Ecosystem service

Further information: 2021 in the environment and environmental sciences § International goals

• Forests (carbon sinks, wood, ecosystem services, ...)
  • Estimated number of trees that are net lost annually as of 2021: 10 billion⁵⁸⁵⁹
  • Global annual deforested land in 2015–2020: 10 million hectares
  • Global annual net forest area loss in 2000–2010 : 4.7 million hectares⁶⁰
• Other land degradation and land- and organisms-related ecosystem disturbances
  • Soils (carbon sink, ecosystem services, food production, ...)
    • Soil erosion by water in 2012: almost 36 billion tons (based on a high resolution global potential soil erosion model developed in 2017)⁶¹
    • Estimated annual loss of agricultural productivity due to soil erosion: 8 billion US dollars (based on the soil erosion data)⁶²
    • Soil erosion by water in 2015: approximately 43 billion tons (according to a 2020 study)⁶³
    • Environmental impact of pesticides
      • Pesticide use in tonnes of active ingredient in Australia in 2016: ca. 62,500 tonnes⁶⁴
• Oceans (ecosystem services, food production, ...): Blue economy
• Waste and pollution (effects of economic mechanisms, effects on ecosystem services)
  • As of 2018, about 380 million tonnes of plastic is produced worldwide each year. From the 1950s up to 2018, an estimated 6.3 billion tonnes of plastic has been produced worldwide, of which an estimated 9% has been recycled and another 12% has been incinerated with the rest reportedly being "dumped in landfills or the natural environment".⁶⁵
  • Air pollution
    • Number of human deaths caused annually by air pollution worldwide: ca. 7 million⁶⁶⁶⁷⁶⁸
    • Estimated global annual cost of air pollution: $5 trillion⁶⁹⁷⁰⁷¹
  • Microplastic pollution
    • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2014: 15 to 51 trillion particles, weighing between 93,000 and 236,000 metric tons⁷²
    • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2020: 3700 microplastics per cubic meter⁷³

From the scientific perspective, economic activities are embedded in a web of dynamic, interrelated, and interdependent activities that constitute the natural system of Earth. Novel application of cybernetics in decision-making (such as in decision-making related to process- and product-design and related laws) and direction of human activity (such as economic activity) may make it easier to control modern ecological problems.⁷⁴

Historical development

Further information: History of globalization and Broad measures of economic progress

Per the MSCI All Country World Index, the breakdown of market sector is as follows:⁷⁶

One example for a comparable metric other than GDP are the OECD Better Life Index rankings for different aggregative domains.

The index includes 11 comparable "dimensions" of well-being:⁷⁸

1. Housing: housing conditions and spendings (e.g. real estate pricing)
2. Income: household income (after taxes and transfers) and net financial wealth
3. Jobs: earnings, job security and unemployment
4. Community: quality of social support network
5. Education: education and what one gets out of it
6. Environment: quality of environment (e.g. environmental health)
7. Governance: involvement in democracy
8. Health
9. Life Satisfaction: level of happiness
10. Safety: murder and assault rates
11. Work-life balance

Economic studies

To promote exports, many government agencies publish on the web economic studies by sector and country. Among these agencies include the USCS (US DoC) and FAS (USDA) in the United States, the EDC and AAFC in Canada, Ubifrance in France, the UKTI in the United Kingdom, the HKTDC and JETRO in Asia, Austrade and the NZTE in Oceania. Through Partnership Agreements, the Federation of International Trade Associations publishes studies from several of these agencies (USCS, FAS, AAFC, UKTI, and HKTDC) as well as other non-governmental organizations on its website globaltrade.net.

See also

• Economics portal
• World portal

• Anarchy (international relations)
• Capitalism
• Common Wealth: Economics for a Crowded Planet (book)
• Economic bubble
• Economic collapse
• Fourth Industrial Revolution
• Global financial system
• Global workforce
• Globality
• Globalization
• International trade
• Trade route
• Overconsumption
• Petrodollar recycling
• World Trade Report
• World history
  • Economic history of the world
• World-systems theory

Regional economies:

• Economy of Africa
• Economy of Asia
• Economy of Europe
• Economy of North America
• Economy of Oceania
• Economy of South America

Events:

• Great Recession
• World oil market chronology from 2003
• 2007–2008 financial crisis
• 2007–2008 world food price crisis
• Economic impact of the COVID-19 pandemic

Lists:

• List of countries by GDP sector composition
• List of world's largest economies (nominal) – based on current currency market exchange rates
• List of world's largest economies (PPP) – based on purchasing power parity
• Historical list of world's largest economies (PPP) – for the years between 1 and 1998

External links

• OECD – Economic Outlook
• US Bureau of Labor and Statistics, Major Economic Indicators
• IMF – World Economic Outlook
• UN DESA – World Economy publications
• CIA – The World Factbook – World
• Career Education for a Global Economy
• BBC News Special Report – Global Economy
• Guardian Special Report – Global Economy
• World Bank Summary Trade Statistics for World

References

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