In a recent study conducted in 2020, the gross domestic product (GDP) in Australia was estimated to contract by 3.6 percent in 2050 in a scenario where no action on climate change was taken in the country. Furthermore, the GDP was estimated to reduce by 6.3 percent in 2070 if climate change was not mitigated.

The Philippines is expected to experience an average economic loss of 0.7 percent in their annual gross domestic product (GDP) due to water risk in the years up to 2050. This was followed by Australia and the United States, with an average annual GDP loss of 0.6 and 0.5 percent, respectively.

In a recent study conducted in 2020, employment in Australia was estimated to contract by 330 thousand people in 2050 in a scenario where no action on climate change was taken in the country. Furthermore, the the number of employees was estimated to reduce by 880 thousand in 2070 if climate change was not mitigated.

A. The number of temperature-related deaths averted if Australia’s health system and the whole economy decarbonises by 2040 and 2050. B. The monetary equivalent welfare gain under a range of discount rates and emission trajectories.

In 2024, the United States was the G20 country with the largest gross domestic product per capita, with 68,200 international dollars per capita. The international dollar is a hypothetical currency accounting for purchasing power parity (PPP), assuming that the U.S. dollar would have the same value all around the world. Saudi Arabia had the second highest GDP per capita, followed by Germany. On the other hand, India had the lowest at only 8,000 dollars per capita.