From the Summer of 2007 until the end of 2009 (at least), the world was gripped by a series of economic crises commonly known as the Global Financial Crisis (2007-2008) and the Great Recession (2008-2009). The financial crisis was triggered by the collapse of the U.S. housing market, which caused panic on Wall Street, the center of global finance in New York. Due to the outsized nature of the U.S. economy compared to other countries and particularly the centrality of U.S. finance for the world economy, the crisis spread quickly to other countries, affecting most regions across the globe. By 2009, global GDP growth was in negative territory, with international credit markets frozen, international trade contracting, and tens of millions of workers being made unemployed.

Global similarities, global differences

Since the 1980s, the world economy had entered a period of integration and globalization. This process particularly accelerated after the collapse of the Soviet Union ended the Cold War (1947-1991). This was the period of the 'Washington Consensus', whereby the U.S. and international institutions such as the World Bank and IMF promoted policies of economic liberalization across the globe. This increasing interdependence and openness to the global economy meant that when the crisis hit in 2007, many countries experienced the same issues. This is particularly evident in the synchronization of the recessions in the most advanced economies of the G7. Nevertheless, the aggregate global GDP number masks the important regional differences which occurred during the recession. While the more advanced economies of North America, Western Europe, and Japan were all hit hard, along with countries who are reliant on them for trade or finance, large emerging economies such as India and China bucked this trend. In particular, China's huge fiscal stimulus in 2008-2009 likely did much to prevent the global economy from sliding further into a depression. In 2009, while the United States' GDP sank to -2.6 percent, China's GDP, as reported by national authorities, was almost 10 percent.

Poland's GDP was *** percent higher in 2023 than the previous year. The Gross Domestic Product refers to the market value of all final goods and services produced in a country within a given period.Poland's GDP amounted to *** trillion zloty in 2023, an increase of ** percent yearly.

Key information about India Real GDP Growth

• The Gross Domestic Product (GDP) in India expanded 4.4 % YoY in Dec 2022, following a growth of 6.3 % in the previous quarter.
• Real GDP Growth YoY data in India is updated quarterly, available from Jun 2005 to Dec 2022, with an average rate of 7.2 %.
• The data reached an all-time high of 21.6 % in Jun 2021 and a record low of -23.4 % in Jun 2020.

CEIC calculates Real GDP Growth from quarterly Real GDP. Ministry of Statistics and Programme Implementation provides Real GDP in local currency based on SNA 2008, at 2011-2012 prices. Real GDP prior to Q2 2012 is based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices.


Related information about India Real GDP Growth

• In the latest reports, Nominal GDP of India reached 844.6 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 6.6 % in Dec 2022.
• GDP Per Capita in India reached 2,301.4 USD in Mar 2022.
• Its Gross Savings Rate was measured at 30.2 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 28.4 % in Dec 2022.
• Public Consumption accounted for 9.0 % in Dec 2022.
• Private Consumption accounted for 63.3 % in Dec 2022.

The Gross Domestic Product (GDP) in Nigeria expanded 3.84 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides - Nigeria GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Spain expanded 0.60 percent in the first quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - Spain GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Eritrea ER: GDP: Growth: Adjusted Net National Income per Capita data was reported at -20.911 % in 2011. This records a decrease from the previous number of 1.785 % for 2010. Eritrea ER: GDP: Growth: Adjusted Net National Income per Capita data is updated yearly, averaging -2.078 % from Dec 1994 (Median) to 2011, with 18 observations. The data reached an all-time high of 14.786 % in 1994 and a record low of -20.911 % in 2011. Eritrea ER: GDP: Growth: Adjusted Net National Income per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Eritrea – Table ER.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.; ; World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).; Weighted average;

In 2024, the U.S. GDP increased from the previous year to about 29.18 trillion U.S. dollars. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2024, the United States has the largest economy in the world. What is GDP? Gross domestic product is one of the most important indicators used to analyze the health of an economy. GDP is defined by the BEA as the market value of goods and services produced by labor and property in the United States, regardless of nationality. It is the primary measure of U.S. production. The OECD defines GDP as an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs). GDP and national debt Although the United States had the highest Gross Domestic Product (GDP) in the world in 2022, this does not tell us much about the quality of life in any given country. GDP per capita at purchasing power parity (PPP) is an economic measurement that is thought to be a better method for comparing living standards across countries because it accounts for domestic inflation and variations in the cost of living. While the United States might have the largest economy, the country that ranked highest in terms of GDP at PPP was Luxembourg, amounting to around 141,333 international dollars per capita. Singapore, Ireland, and Qatar also ranked highly on the GDP PPP list, and the United States ranked 9th in 2022.

Historical chart and dataset showing U.S. GDP by year from 1960 to 2023.

The Gross Domestic Product (GDP) in Ireland expanded 9.70 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Saudi Arabia Real GDP Growth

• The Gross Domestic Product (GDP) in Saudi Arabia contracted 3.7 % YoY in Dec 2023, following a negative growth of 4.4 % in the previous quarter.
• Real GDP Growth YoY data in Saudi Arabia is updated quarterly, available from Mar 2011 to Dec 2023, with an average rate of 2.8 %.
• The data reached an all-time high of 14.6 % in Sep 2011 and a record low of -7.4 % in Jun 2020.

General Authority for Statistics provides quarterly Real GDP Growth at 2010 prices.


Related information about Saudi Arabia Real GDP Growth

• In the latest reports, Nominal GDP of Saudi Arabia reached 267.9 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) fell 1.0 % in Mar 2023.
• GDP Per Capita in Saudi Arabia reached 34,441.1 USD in Dec 2022.
• Its Gross Savings Rate was measured at 37.4 % in Mar 2024.
• For Nominal GDP contributions, Investment accounted for 30.7 % in Mar 2023.
• Public Consumption accounted for 22.3 % in Mar 2024.
• Private Consumption accounted for 40.3 % in Mar 2024.

Key information about Iran Real GDP Growth

• The Gross Domestic Product (GDP) in Iran expanded 5.0 % YoY in Mar 2022, following a growth of 6.7 % in the previous quarter.
• Real GDP Growth YoY data in Iran is updated quarterly, available from Jun 1989 to Mar 2022, with an average rate of 3.9 %.
• The data reached an all-time high of 22.7 % in Jun 1992 and a record low of -16.0 % in Sep 2008.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Central Bank of the Islamic Republic of Iran provides Real GDP in local currency, at 2016-2017 prices. Real GDP Growth prior to Q1 2020 is calculated from Real GDP at 2011-2012 prices. Real GDP Growth prior to Q2 2005 is calculated from Real GDP at 1997-1998 prices.


Related information about Iran Real GDP Growth

• In the latest reports, Nominal GDP of Iran reached 429.4 USD bn in Mar 2022.
• Its GDP deflator (implicit price deflator) increased 51.5 % in Mar 2022.
• GDP Per Capita in Iran reached 11,557.0 USD in Mar 2021.
• Its Gross Savings Rate was measured at 36.8 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 32.9 % in Mar 2022.
• Public Consumption accounted for 18.0 % in Mar 2022.
• Private Consumption accounted for 45.2 % in Mar 2022.

This statistic shows the real gross domestic product (GDP) growth rate in Italy from 2020 to 2024, with projections up until 2030. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2024, Italy's real GDP increased by about 0.73 percent compared to the previous year. Italy's national debt Italy’s economy is a developed industrial economy that ranks as one of the largest in the world. A large and efficient economy has helped Italy attain a spot as a member of the G7 and G8, as well as the European Union. After the Second World War, Italy experienced a significant economic boost due to support from the ‘’Free World’’, which is a term used to identify non-communist countries during the Cold War. But several decades of economic growth came to an end after the 2008 recession; from roughly 2007 to 2011, the Italian’s encountered multiple setbacks that shrunk the national economy and dramatically affected the country as a whole. Debt became a major problem and Italy saw annual national debt growth primarily due to the country’s inability to maintain its budget properly as well as an overall decrease in GDP. As a result, investors often questioned the country’s ability to pay off its debts without incurring further debt, particularly due to the country’s large debt-to-GDP ratio, which remains one of the highest in the world.

Greece - Real GDP growth rate was 2.30% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Greece - Real GDP growth rate - last updated from the EUROSTAT on June of 2025. Historically, Greece - Real GDP growth rate reached a record high of 8.70% in December of 2021 and a record low of -10.10% in December of 2011.

The real gross domestic product (GDP) growth rate of the United Arab Emirates (UAE) in 2019 was 1.7 percent, which was an increase compared to the growth rate of 0.5 percent in 2017. It was expected to reach 2.5 percent in 2022. UAE GDP at constant price amounted to approximately 1.44 trillion Emirati dirhams in 2018.

United States US: GDP: Growth: Final Consumption Expenditure: General Government data was reported at 0.968 % in 2016. This records a decrease from the previous number of 1.332 % for 2015. United States US: GDP: Growth: Final Consumption Expenditure: General Government data is updated yearly, averaging 1.566 % from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 4.928 % in 1985 and a record low of -2.654 % in 2011. United States US: GDP: Growth: Final Consumption Expenditure: General Government data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth of general government final consumption expenditure based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. General government final consumption expenditure (general government consumption) includes all government current expenditures for purchases of goods and services (including compensation of employees). It also includes most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Brazil GDP for 2023 was 2.174 trillion US dollars, a 11.36% increase from 2022.

<ul style='margin-top:20px;'>

<li>Brazil GDP for 2022 was <strong>1.952 trillion US dollars</strong>, a <strong>16.84% increase</strong> from 2021.</li>
<li>Brazil GDP for 2021 was <strong>1.671 trillion US dollars</strong>, a <strong>13.18% increase</strong> from 2020.</li>
<li>Brazil GDP for 2020 was <strong>1.476 trillion US dollars</strong>, a <strong>21.2% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

According to preliminary figures, the growth of real gross domestic product (GDP) in China amounted to 5.0 percent in 2024. For 2025, the IMF expects a GDP growth rate of around 3.95 percent. Real GDP growth The current gross domestic product is an important indicator of the economic strength of a country. It refers to the total market value of all goods and services that are produced within a country per year. When analyzing year-on-year changes, the current GDP is adjusted for inflation, thus making it constant. Real GDP growth is regarded as a key indicator for economic growth as it incorporates constant GDP figures. As of 2024, China was among the leading countries with the largest gross domestic product worldwide, second only to the United States which had a GDP volume of almost 29.2 trillion U.S. dollars. The Chinese GDP has shown remarkable growth over the past years. Upon closer examination of the distribution of GDP across economic sectors, a gradual shift from an economy heavily based on industrial production towards an economy focused on services becomes visible, with the service industry outpacing the manufacturing sector in terms of GDP contribution. Key indicator balance of trade Another important indicator for economic assessment is the balance of trade, which measures the relationship between imports and exports of a nation. As an economy heavily reliant on manufacturing and industrial production, China has reached a trade surplus over the last decade, with a total trade balance of around 992 billion U.S. dollars in 2024.

Key information about Georgia Nominal GDP Growth

• Georgia Nominal GDP Growth was reported at 15.756 % in Sep 2024.
• This records an increase from the previous number of 13.835 % for Jun 2024.
• Georgia Nominal GDP Growth data is updated quarterly, averaging 11.986 % from Mar 1997 to Sep 2024, with 111 observations.
• The data reached an all-time high of 39.566 % in Jun 2021 and a record low of -13.539 % in Jun 2009.
• Georgia Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The National Statistics Office of Georgia provides Nominal GDP in local currency based on SNA 2008. Nominal GDP Growth prior to Q1 2011 is calculated from Nominal GDP based on SNA 1993.

In the first quarter of 2024, the Gross Domestic Product (GDP) in Tunisia increased by 0.2 percent compared to the same quarter of 2023. Moreover, it rose by 0.6 percent compared to the previous quarter. Following the economic impact of the coronavirus (COVID-19) outbreak, the GDP decreased by -1 percent in the first quarter of 2021, compared to the previous year. Economic recovery after COVID-19 As of the first quarter of 2024, Tunisia’s GDP experienced a growth rate of 0.2 percent, recovering from the decline in the two previous quarters. However, in 2020, the Tunisian GDP growth rate assumed a negative value for the first time since 2012. Previously, negative growth had been recorded in 2011 concurrently with the Jasmine Revolution. The economy then gradually recovered after 2020, with the GDP expanding by 4.61 percent in 2021 and 0.42 percent in 2023. After declining in 2020, the GDP per capita was also set to grow again to reach around 4,416 U.S. dollars by 2027. Overall, Tunisia is a small economy and ranks among the countries with the lowest GDP per capita in the Middle East and North Africa (MENA). Compared to other countries in the region, its territory is not particularly rich in oil and gas. Its industries mainly operate in textiles, mining and phosphates, and agri-food. Main sectors to drive economic growth The economy of Tunisia is largely based on the tertiary sector, with services contributing around 60 percent to the GDP. Within this sector, the tourism industry is particularly profitable. Tourists are especially attracted by the country’s seaside resorts, as well as the suggestive landscapes of the Sahara Desert. The global tourism industry was hit hard by the COVID-19 crisis and Tunisia registered a significant fall in the annual number of tourists in 2020, however, the sector managed to recover, with 6.89 million arrivals in 2023. Agriculture represents another significant driver of economic growth, accounting for around 10 percent of the country’s GDP and employing roughly 14 percent of the working population. Cereals lead the domestic agricultural production, while olive oil, dates, and fish represent the main exports.

This map is adapted from the outstanding work of Dr. Joseph Kerski at ESRI. A map of political, social, and economic indicators for 2010. Created at the Data Analysis and Social Inquiry Lab at Grinnell College by Megan Schlabaugh, April Chen, and Adam Lauretig.Data from Freedom House, the Center for Systemic Peace, and the World Bank.Shapefile:Weidmann, Nils B., Doreen Kuse, and Kristian Skrede Gleditsch. 2010. The Geography of the International System: The CShapes Dataset. International Interactions 36 (1).Field Descriptions:

Variable Name Variable Description Years Available Further Description Source

TotPop Total Population 2011 Population of the country/region World Bank

GDPpcap GDP per capita (current USD) 2011 A measure of the total output of a country that takes the gross domestic product (GDP) and divides it by the number of people in the country. The per capita GDP is especially useful when comparing one country to another because it shows the relative performance of the countries. World Bank

GDPpcapPPP GDP per capita based on purchasing power parity (PPP) 2011

World Bank

HDI Human Development Index (HDI) 2011 A tool developed by the United Nations to measure and rank countries' levels of social and economic development based on four criteria: Life expectancy at birth, mean years of schooling, expected years of schooling and gross national income per capita. The HDI makes it possible to track changes in development levels over time and to compare development levels in different countries. World Bank

LifeExpct Life expectancy at birth 2011 The probable number of years a person will live after a given age, as determined by mortality in a specific geographic area. World Bank

MyrSchool Mean years of schooling 2011 Years that a 25-year-old person or older has spent in schools World Bank

ExpctSch Expected years of schooling 2011 Number of years of schooling that a child of school entrance age can expect to receive if prevailing patterns of age-specific enrolment rates persist throughout the child’s life. World Bank

GNIpcap Gross National Income (GNI) per capita 2011 Gross national income (GNI) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI per capita is gross national income divided by mid-year population. World Bank

GNIpcapHDI GNI per capita rank minus HDI rank 2011

World Bank

NaIncHDI Nonincome HDI
2011

World Bank

15+LitRate Adult (15+) literacy rate (%). Total 2010

UNESCO

EmplyAgr Employment in Agriculture 2009

World Bank

GDPenergy GDP per unit of energy use 2010 The PPP GDP per kilogram of oil equivalent of energy use. World Bank

GDPgrowth GDP growth (annual %) 2011

World Bank

GDP GDP (current USD) 2011

World Bank

ExptGDP Exports of Goods and Service (% GDP) 2011 The value of all goods and other market services provided to the rest of the world World Bank

ImprtGDP Imports of Goods and Service (% GDP) 2011 The value of all goods and other market services received from the rest of the world. World Bank

AgrGDP Agriculture, Value added (% GDP) 2011 Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. World Bank

FDI Foreign Direct Investment, net (current USD) 2011 Foreign direct investment are the net inflows of investment to acquire a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. World Bank

GNIpcap GNI per capita PP 2011 GNI per capita based on purchasing power parity (PPP). PPP GNI is gross national income (GNI) converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. World Bank

Inflatn Inflation, Consumer Prices (annual %) 2011 Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. World Bank

InfltnGDP Inflation, GDP deflator (annual %) 2011 Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency. World Bank

PctWomParl % women in national parliament 2010

United Nations

IntnetUser Internet Users, per 100 peple 2011 Internet users are people with access to the worldwide network. World Bank

HIVPrevlnc Estimated HIV Prevalence% - (Ages 15-49) 2009 Prevalence of HIV refers to the percentage of people ages 15-49 who are infected with HIV. UNAIDS estimates. UNAIDS

AgrLand Agricultural land (% of land area) 2009 Agricultural land refers to the share of land area that is arable, under permanent crops, and under permanent pastures. World Bank

AidRecPP Aid received per person (current US$) 2010 Net official development assistance (ODA) per capita consists of disbursements of loans made on concessional terms (net of repayments of principal) and grants by official agencies of the members of the Development Assistance Committee (DAC), by multilateral institutions, and by non-DAC countries to promote economic development and welfare in countries and territories in the DAC list of ODA recipients; and is calculated by dividing net ODA received by the midyear population estimate. It includes loans with a grant element of at least 25 percent (calculated at a rate of discount of 10 percent). World Bank

AlcohAdul Alcohol consumption per adult (15+) in litres 2008 Liters of pure alcohol, computed as the sum of alcohol production and imports, less alcohol exports, divided by the adult population (aged 15 years and older). World Health Organization

ArmyPct Military expenditure (% of central government expenditure) 2008 Military expenditures data from SIPRI are derived from the NATO definition, which includes all current and capital expenditures on the armed forces, including peacekeeping forces; defense ministries and other government agencies engaged in defense projects; paramilitary forces, if these are judged to be trained and equipped for military operations; and military space activities. Such expenditures include military and civil personnel, including retirement pensions of military personnel and social services for personnel; operation and maintenance; procurement; military research and development; and military aid (in the military expenditures of the donor country). World Development Indicators (World Bank)

TFR Total Fertility Rate 2011 The average number of children that would be born per woman if all women lived to the end of their childbearing years and bore children according to a given fertility rate at each age. This indicator shows the potential for population change in a country. World Bank

CO2perUSD CO2 kg per USD 2008 Carbon dioxide emissions are those stemming from the burning of fossil fuels and the manufacture of cement. They include carbon dioxide produced during consumption of solid, liquid, and gas fuels and gas flaring. World Bank

ExpdtrPrim Expenditure per student, primary (% of GDP per capita) 2008 Public expenditure per pupil as a % of GDP per capita. Primary is the total public expenditure per student in primary education as a percentage of GDP per capita. Public expenditure (current and capital) includes government spending on educational institutions (both public and private), education administration as well as subsidies for private entities (students/households and other privates entities). World Bank

ExpdtrSecd Expenditure per student, secondary (% of GDP per capita) 2008 Public expenditure per pupil as a % of GDP per capita. Secondary is the total public expenditure per student in secondary education as a percentage of GDP per capita. World Bank

ExpdtrTert Expenditure per student, tertiary (% of GDP per capita) 2008 Public expenditure per pupil as a % of GDP per capita. Tertiary is the total public expenditure per student in tertiary education as a percentage of GDP per capita. World Bank

FDIoutf Foreign direct investment, net outflows (% of GDP) 2010 Foreign direct investment are the net inflows of investment to acquire a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. This series shows net outflows of investment from the