World economy

Summary

The world economy or global economy is the economy of all humans of the world, referring to the global economic system, which includes all economic activities which are conducted both within and between nations, including production, consumption, economic management, work in general, exchange of financial values and trade of goods and services.[1][2] In some contexts, the two terms are distinct "international" or "global economy" being measured separately and distinguished from national economies, while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange, the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from the geography and ecology of planet Earth.

It is common to limit questions of the world economy exclusively to human economic activity, and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research, genuine data or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is, by definition, no legal market of any kind.

However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government.

Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms of real United States dollars or euros. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 7.8 billion people (as of March 2020)[3][4] have most of their economic activity reflected in these valuations.

According to Maddison[who?], until the middle of the 19th century, global output was dominated by China and India. Waves of the Industrial Revolution in Western Europe and Northern America shifted the shares to the Western Hemisphere. As of 2022, the following 18 countries or collectives have reached an economy of at least US$2 trillion by GDP in nominal or PPP terms: Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, Spain, Turkey, the United Kingdom, the United States and the European Union.[5][6]

Despite high levels of government investment, the World Bank predicted that the global economy would decrease by 5.2 percent in 2020. Cities account for 80% of global GDP, thus they would face the brunt of this decline.[7][8][9]

OverviewEdit

World economy by country groupsEdit

Country group List of country groups by
GDP (nominal)
in 2022 (or at peaked level)
List of country groups by
GDP (PPP)
in 2022 (or at peaked level)
Number of
countries
Major economies
Value
(in millions of US$)
Share of
Global GDP
Value
(in millions of US$)
Share of
Global GDP
Major advanced economies (G7) 45,107,745 43.4% 49,365,287 30.8% 7   United States
  Japan
  Germany
  United Kingdom
  France
  Italy
  Canada
Emerging and developing Asia 27,008,220 26.0% 53,075,051 33.1% 30   China
  India
  Indonesia
  Thailand
  Vietnam
  Philippines
  Bangladesh
  Malaysia
Other advanced economies
(advanced economies excluding the G7)
14,140,022 13.6% 18,082,059 11.3% 33   South Korea
  Spain
  Australia
  Taiwan
  Netherlands
   Switzerland
  Belgium
  Singapore
  Sweden
  Ireland
Middle East and Central Asia 6,011,585 5.8% 11,869,342 7.4% 32   Saudi Arabia
  Iran
  Egypt
  Pakistan
  United Arab Emirates
  Kazakhstan
Latin America and the Caribbean 5,462,553
(peaked at 6,060,353 in 2013)
5.3% 11,605,120 7.2% 33   Brazil
  Mexico
  Argentina
  Colombia
Emerging and developing Europe 4,073,723
(peaked at 4,573,783 in 2013)
3.9% 11,199,561
(peaked at 11,343,072 in 2021)
7.0% 16   Russia
  Turkey
  Poland
  Romania
Sub-Saharan Africa 2,063,261 2.0% 5,047,744 3.2% 45   Nigeria
  South Africa
World 103,867,109 100.0% 160,244,164 100.0% 196

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

The 25 largest economies by GDP (nominal), twenty largest economies by GDP (PPP) as of 2022. Members of the G-20 major economies are in bold.
List of the 25 largest economies
by GDP (nominal) at their peak level as of 2022 in million US$
[5]
List of the 25 largest economies
by GDP (PPP) at their peak level as of 2022 in million Int$
[5]
List of the 25 economies by highest
GDP (nominal) per capita at their peak level as of 2022 in US$
List of the 25 economies by highest
GDP (PPP) per capita at their peak level as of 2022 in Int$
Rank Country Value Peak year
World 103,867,109 2022
1   United States 25,346,805 2022
2   China 19,911,593 2022
  European Union 19,226,235 2008
3   Japan 6,272,364 2012
4   Germany 4,256,540 2022
5   India 3,534,743 2022
6   United Kingdom 3,376,003 2022
7   France 2,936,702 2022
8   Brazil 2,614,027 2011
9   Italy 2,408,391 2008
10   Russia 2,288,428 2013
11   Canada 2,221,218 2022
12   South Korea 1,804,680 2022
13   Australia 1,748,334 2022
14   Iran 1,739,012 2022
15   Spain 1,631,685 2008
16   Mexico 1,322,740 2022
17   Indonesia 1,289,295 2022
18   Saudi Arabia 1,040,166 2022
19   Netherlands 1,018,684 2021
20   Turkey 957,504 2013
21    Switzerland 841,969 2022
22   Taiwan 841,209 2022
23   Poland 699,559 2022
24   Argentina 643,861 2017
25   Sweden 627,438 2021
Rank Country Value Peak year
World 160,244,164 2022
1   China 30,177,926 2022
2   United States 25,346,805 2022
  European Union 23,730,275 2022
3   India 11,745,260 2022
4   Japan 6,110,075 2022
5   Germany 5,269,963 2022
6   Russia 4,490,456 2021
7   Indonesia 3,995,064 2022
8   United Kingdom 3,751,845 2022
9   Brazil 3,680,942 2022
10   France 3,677,579 2022
11   Turkey 3,212,072 2022
12   Italy 2,972,091 2022
13   Mexico 2,890,685 2022
14   South Korea 2,735,870 2022
15   Canada 2,236,928 2022
16   Spain 2,209,419 2022
17   Saudi Arabia 2,002,542 2022
18   Australia 1,605,196 2022
19   Taiwan 1,603,723 2022
20   Poland 1,575,777 2022
21   Iran 1,573,467 2022
22   Egypt 1,562,377 2022
23   Thailand 1,475,656 2022
24   Pakistan 1,468,862 2022
25   Vietnam 1,278,061 2022
Rank Country Value Peak year
1   Luxembourg 136,701 2021
2   Norway 102,577 2013
3   Qatar 101,933 2012
4   Ireland 101,509 2022
5    Switzerland 96,390 2022
6   Macau 86,298 2014
7   Brunei 79,816 2022
8   Singapore 79,576 2022
9   San Marino 79,110 2008
10   United States 76,027 2022
11   Iceland 75,374 2018
12   Australia 68,441 2012
13   Denmark 68,094 2022
14   Sweden 60,845 2013
15   Netherlands 58,292 2021
16   Canada 57,406 2022
17   Israel 54,688 2022
18   Finland 54,008 2021
19   Austria 53,371 2022
20   Belgium 52,485 2022
21   Andorra 51,957 2011
22   Germany 51,104 2022
23   United Kingdom 50,676 2007
24   United Arab Emirates 50,349 2022
25   Hong Kong 49,850 2022
Rank Country Value Peak year
1   Qatar 169,698 2012
2   Macau 145,947 2013
3   Luxembourg 140,694 2022
4   Singapore 131,580 2022
5   Ireland 124,596 2022
6   United Arab Emirates 110,145 2004
7   Brunei 88,312 2012
8    Switzerland 84,658 2022
9   Norway 77,808 2022
10   United States 76,027 2022
11   San Marino 75,030 2008
12   Kuwait 72,736 2012
13   Hong Kong 70,448 2022
14   Denmark 69,273 2022
15   Taiwan 68,730 2022
16   Netherlands 68,572 2022
17   Austria 64,751 2022
18   Iceland 64,621 2022
19   Andorra 63,600 2022
20   Germany 63,271 2022
21   Sweden 62,926 2022
22   Australia 61,941 2022
23   Belgium 61,587 2022
24   Finland 58,010 2022
25   Canada 57,812 2022

Twenty largest economies in the world by nominal GDPEdit

The following is a list of the twenty largest economies by nominal GDP at peak value as of the specific year, according to the International Monetary Fund.[5]
Rank 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2027
1   United States   United States   United States   United States   United States   United States   United States   United States   United States   United States   United States
2   Japan   Japan   Japan   Japan   Japan   Japan   China   China   China   China   China
3   Soviet Union   Soviet Union   West Germany   Germany   Germany   Germany   Japan   Japan   Japan   Japan   Japan
4   West Germany   West Germany   France   France   United Kingdom   United Kingdom   Germany   Germany   Germany   Germany   India
5   France   France   United Kingdom   United Kingdom   France   China   United Kingdom   United Kingdom   United Kingdom   India   Germany
6   United Kingdom   United Kingdom   Soviet Union   Italy   Italy   France   France   France   France   United Kingdom   United Kingdom
7   Italy   Italy   Italy   Brazil   China   Italy   Italy   Brazil   India   France   France
8   China   Canada   Canada   China   Brazil   Canada   Brazil   Italy   Brazil   Brazil   Canada
9   Canada   China   Iran   Spain   Canada   Spain   Russia   Russia   Italy   Canada   Brazil
10   Argentina   Mexico   Spain   Canada   Mexico   South Korea   India   India   Russia   Italy   Italy
Rank 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2027
11   Spain   India   China   Iran   Spain   Brazil   Spain   Canada   Canada   Russia   South Korea
12   Mexico   Argentina   Brazil   South Korea   South Korea   Mexico   Canada   Spain   South Korea   South Korea   Russia
13   Netherlands   Spain   India   Mexico   Iran   India   Australia   Australia   Spain   Australia   Australia
14   India   Brazil   Australia   Netherlands   India   Russia   South Korea   South Korea   Australia   Iran   Iran
15   Saudi Arabia   Australia   Netherlands   Australia   Netherlands   Australia   Mexico   Mexico   Mexico   Spain   Indonesia
16   Australia   Netherlands   Mexico   India   Russia   Netherlands   Netherlands   Turkey   Indonesia   Indonesia   Spain
17   Brazil   Saudi Arabia   South Korea    Switzerland   Australia   Iran   Turkey   Netherlands   Turkey   Mexico   Mexico
18   Sweden   Iran    Switzerland   Russia    Switzerland   Turkey   Indonesia   Indonesia   Netherlands   Netherlands   Netherlands
19   Belgium   Sweden   Sweden   Argentina   Argentina    Switzerland    Switzerland   Saudi Arabia   Iran   Saudi Arabia   Turkey
20    Switzerland   Belgium   Argentina   Belgium   Taiwan   Sweden   Iran    Switzerland   Saudi Arabia   Taiwan   Saudi Arabia

Twenty largest economies in the world by GDP (PPP)Edit

List of twenty largest economies by GDP based on purchasing power parity at peak value as of the specific year according to the International Monetary Fund and the CIA World Factbook.[5][10]
Rank 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2027
1   United States   United States   United States   United States   United States   United States   United States   United States   China   China   China
2   Soviet Union   Soviet Union   Soviet Union   Japan   China   China   China   China   United States   United States   United States
3   Japan   Japan   Japan   China   Japan   Japan   India   India   India   India   India
4   West Germany   West Germany   West Germany   Germany   Germany   India   Japan   Japan   Japan   Japan   Japan
5   Italy   Italy   Italy   Russia   India   Germany   Germany   Germany   Germany   Germany   Germany
6   France   France   France   India   France   Russia   Russia   Russia   Russia   Indonesia   Indonesia
7   Brazil   Brazil   China   Italy   Italy   France   Brazil   Brazil   Indonesia   Russia   Russia
8   United Kingdom   United Kingdom   United Kingdom   France   United Kingdom   Brazil   France   United Kingdom   United Kingdom   United Kingdom   United Kingdom
9   Saudi Arabia   China   Brazil   Brazil   Russia   United Kingdom   United Kingdom   France   Brazil   Brazil   Brazil
10   Mexico   India   India   United Kingdom   Brazil   Italy   Italy   Indonesia   France   France   France
Rank 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2027
11   India   Mexico   Mexico   Mexico   Mexico   Mexico   Indonesia   Italy   Italy   Turkey   Turkey
12   China   Saudi Arabia   Spain   Indonesia   Indonesia   Indonesia   Mexico   Mexico   Mexico   Italy   Mexico
13   Spain   Canada   Canada   Spain   Spain   Spain   South Korea   Turkey   Turkey   Mexico   Italy
14   Canada   Spain   Indonesia   Saudi Arabia   Canada   Canada   Spain   South Korea   South Korea   South Korea   South Korea
15   Iran   Iran   Saudi Arabia   Canada   Saudi Arabia   South Korea   Saudi Arabia   Saudi Arabia   Spain   Spain   Spain
16   Indonesia   Indonesia   Iran   Iran   South Korea   Saudi Arabia   Iran   Spain   Canada   Canada   Canada
17   Argentina   Turkey   Turkey   South Korea   Iran   Iran   Canada   Canada   Saudi Arabia   Saudi Arabia   Saudi Arabia
18   Poland   Australia   Australia   Turkey   Turkey   Turkey   Turkey   Iran   Iran   Egypt   Egypt
19   Netherlands   Netherlands   South Korea   Australia   Australia   Australia   Australia   Australia   Australia   Poland   Pakistan
20   Turkey   Argentina   Netherlands   Thailand   Netherlands   Thailand   Taiwan   Taiwan   Thailand   Taiwan   Poland

Statistical indicatorsEdit

FinanceEdit

 
Countries or territories by GDP (PPP) per capita in 2021.
  >$60,000
  $50,000 – $60,000
  $40,000 – $50,000
  $30,000 – $40,000
  $20,000 – $30,000
  $10,000 – $20,000
  $5,000 – $10,000
  $2,500 – $5,000
  $1,000 – $2,500
  <$1,000
  No data
 
Countries by total wealth (trillions USD), Credit Suisse
  • 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:,[11] 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):[12] (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.
  • GDP[13] (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)[14]
  • 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):
  • 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)

EmploymentEdit

 
World GDP per capita between 1500 and 2000 (log scale)
 
World GDP per capita between 1500 and 2003
 
GDP increase, 1990–1998 and 1990–2006, in major countries
  • Unemployment rate: 8.7% (2009 est.). 30% (2007 est.) combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%–12% unemployment.

IndustriesEdit

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

EnergyEdit

 
Global primary energy consumption, measured in terawatt-hours (TWh) per year
  • Yearly electricity – production: 21,080,878 GWh (2011 est.),[16] 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.),[17] 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-borderEdit

  • 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 economyEdit

CommunicationsEdit

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

TransportEdit

Transportation infrastructure worldwide includes:

  • Airports
    • Total: 41,821 (2013)[21]
  • 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 ]

MilitaryEdit

 
A pie chart showing global military expenditures by country for 2019, in US$ billions, according to SIPRI.
  • World military expenditure in 2018: estimated to $1.822 trillion[22]
  • Military expenditures – percent of GDP: roughly 2% of gross world product (1999).

Science, research and developmentEdit

 
Number of scientific or technical journal article publications per million residents as of 2013.

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.[23] In 2015, research and development constituted an average 2.2% of the global GDP according to the UNESCO Institute for Statistics.[24] Metrics and rankings of innovation include the Bloomberg Innovation Index, the Global Innovation Index and the share of Nobel laureates per capita.

Resources and environmentEdit

 
Shown is how the global material footprint and global CO2 emissions from fossil-fuel combustion and industrial processes changed compared with global GDP.[25]
 
Deforestation (net loss) of tropical rainforest and woodland over time, 1750-2004
  • Forests (carbon sinks, wood, ecosystem services, ...)
    • Estimated number of trees that are net lost annually as of 2021: 10 billion[26][27]
    • Global annual deforested land in 2015–2020: 10 million hectares
    • Global annual net forest area loss in 2000–2010 : 4.7 million hectares[28]
  • 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)[29]
      • Estimated annual loss of agricultural productivity due to soil erosion: 8 billion US dollars (based on the soil erosion data)[30]
      • Soil erosion by water in 2015: approximately 43 billion tons (according to a 2020 study)[31]
      • Environmental impact of pesticides
        • Pesticide use in tonnes of active ingredient in Australia in 2016: ca. 62,500 tonnes[32]
  • 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".[33]
    • Air pollution
      • Number of human deaths caused annually by air pollution worldwide: ca. 7 million[34][35][36]
      • Estimated global annual cost of air pollution: $5 trillion[37][38][39]
    • 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 tons[40]
      • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2020: 3700 microplastics per cubic meter[40]

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.[41]

Historical developmentEdit

 
Shift of the world's economic center of gravity since 1980 and projected until 2050[42]
Estimations of world population and GDP from a 2020 research paper[43]
Year Population
(million)
GDP per capita
($1990 in PPP)
GDP in billion
($1990 in PPP)
1000000 BCE 0.125 400 0.05
300000 BCE 1 400 0.40
25000 BCE 3.34 400 1.34
10000 BCE 4 400 1.60
5000 BCE 5 404 2.02
4000 BCE 7 409 2.87
3000 BCE 14 421 5.90
2000 BCE 27 433 11.7
1000 BCE 50 444 22.2
500 BCE 100 457 45.7
200 BCE 150 465 69.7
1 168 467 78.4
200 190 463 88.0
400 190 463 88.0
500 190 463 88.0
600 200 462 92.3
700 210 460 96.6
800 220 459 101
900 240 456 109
1000 265 453 120
1100 320 512 164
1200 360 551 198
1300 360 551 198
1400 350 541 190
1500 438 625 274
1600 556 629 350
1700 603 658 397
1820 1,042 712 741
1870 1,276 884 1,128
1900 1,563
1913 1,793 1,543 2,767
1920 1,863
1940 2,299 2,181 5,013
1950 2,528 2,104 5,318
1960 3,042 2,764 12,170
1970 3,691 3,725 13,751
1980 4,440 4,511 20,026
1990 5,269 5,149 27,133
2000 6,077 6,057 36,806
2010 6,873 7,814 53,704
2019 7,620 9,663 73,640

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

Legend
  Explained by: Housing
  Explained by: Income
  Explained by: Jobs
  Explained by: Community
  Explained by: Education
  Explained by: Environment
  Explained by: Civic engagement
  Explained by: Health
  Explained by: Life Satisfaction
  Explained by: Safety
  Explained by: Work-Life Balance
OECD Better Life Index rankings for 2016
Overall Rank
[44]
Country Housing Income Jobs Community Education Environment Civic engagement Health Life Satisfaction Safety Work-Life Balance
1   Norway
2   Australia
3   Denmark
4    Switzerland
5   Canada
6   Sweden
7   New Zealand
8   Finland
9   United States
10   Iceland
11   Netherlands
12   Germany
13   Luxembourg
14   Belgium
15   Austria
16   United Kingdom
17   Ireland
18   France
19   Spain
20   Slovenia
21   Czech Republic
22   Estonia
23   Japan
24   Slovakia
25   Italy
26   Israel
27   Poland
28   South Korea
29   Portugal
30   Latvia
31   Greece
32   Hungary
33   Russia
34   Chile
35   Brazil
36   Turkey
37   Mexico
38   South Africa

The index includes 11 comparable "dimensions" of well-being:[45]

  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 studiesEdit

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 alsoEdit

Regional economies:

Events:

Lists:

ReferencesEdit

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External linksEdit

  • 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