This statistic shows the 20 countries with the highest growth of the gross domestic product (GDP) in 2023. In 2023, Guyana ranked 2nd with an estimated GDP growth of approximately 32.96 percent compared to the previous year. GDP around the world Gross domestic product (GDP) is an indicator of the monetary value of all goods and services produced by a nation in a specific time period. GDP is a strong index of a country’s economic strength - the higher the GDP of a nation, the stronger that country’s economy. The countries in the world with the highest GDP or GDP per capita are mainly developed and emerging countries, with global gross domestic product amounting to nearly 75 trillion U.S. dollars. As of 2016, the United States is the nation in the world with the highest GDP with more than 18.56 trillion U.S. dollars, which makes up more than 15.7 percent of the global GDP. The countries with the lowest gross domestic product per capita in 2014 were mainly African nations. The country in the world with the lowest GDP per capita in 2016 was South Sudan, followed by Malawi, and Burundi. However, several economically struggling African and Asian countries such as Myanmar, Côte d'Ivoire, Bhutan, and India reported the highest growth of the gross domestic product in 2016. Also in the top 20 nations with the highest growth of the GDP is China. In 2016, the GDP in China was the second highest GDP in the world. It is estimated that by 2019 the GDP in China will grow by 6 percent. Based on this estimate, GDP in China will be at around 14.6 trillion U.S. dollars by 2019.

In most years since 1980, global GDP growth has been relatively consistent, generally fluctuating between two and five percent growth from year to year. The most notable exceptions to this were during the Great Recession in 2009, and again in 2020 during the Covid-19 pandemic, where the global economy actually shrank in both of these years. As the world economy continues to deal with the economic impact of the pandemic, as well as the fallout from Russia's invasion of Ukraine in 2022, the future remains uncertain, however current estimates suggest that annual growth will return to steady figures of around 3 percent in 2029.

The average for 2024 based on 184 countries was 3.25 percent. The highest value was in Guyana: 43.81 percent and the lowest value was in Sudan: -20.27 percent. The indicator is available from 1980 to 2028. Below is a chart for all countries where data are available.

In 2024, Niger's real GDP is estimated to grow by 10.4 percent compared to the previous year. During 2023, the GDP is estimated to have increased by only 1.4 percent, nevertheless a positive trend. The country's real GDP is forecast to continue growing but at a slower pace. Between 2025 and 2029, it is expected to grow annually by roughly six percent. Furthermore, the GDPs of Senegal, Libya, and Rwanda might increase by around 8.3 percent, 7.8 percent, and 6.9 percent during 2024, respectively. Niger: A dependence on agriculture A large portion of Niger's economy comes from agriculture. In 2022, agriculture accounted for almost 40 percent of the GDP. Niger is not the only country in Africa where agriculture plays a crucial role. For example, agriculture made up nearly 60 percent of Sierra Leone’s GDP in 2022. Such dependence could mean that any disruptions in the agricultural products market could have significant effects on the country's GDP. Sub-Saharan Africa's economy will be among the fastest-growing regions worldwide Three African countries have significantly larger economies, namely, Nigeria, South Africa, and Egypt. As of 2022, these countries' GDP stood at nearly 477.4 billion, 475.2 billion, and 405.7 billion U.S. dollars. Furthermore, it is anticipated that Sub-Saharan Africa's GDP growth in 2026 will rank as the second-fastest growing economic region in the world after the ASEAN-5 countries, with a growth rate of approximately four percent. In contrast, economic areas such as the European Union are forecast to grow at only about 1.5 percent in the same year.

In 2024, the United States had the largest economy in the world, with a gross domestic product of just under 29 trillion U.S. dollars. China had the second largest economy, at around 18.5 trillion U.S. dollars. Recent adjustments in the list have seen Germany's economy overtake Japan's to become the third-largest in the world in 2023, while Brazil's economy moved ahead of Italy's in 2024. Global gross domestic product Global gross domestic product amounts to almost 110 trillion U.S. dollars, with the United States making up more than one-quarter of this figure alone. The 12 largest economies in the world include all Group of Seven (G7) economies, as well as the four largest BRICS economies. The U.S. has consistently had the world's largest economy since the interwar period, and while previous reports estimated it would be overtaken by China in the 2020s, more recent projections estimate the U.S. economy will remain the largest by a considerable margin going into the 2030s.The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.

The statistic shows the growth in real GDP in Brazil from between 2019 and 2023, with projections up until 2029. In 2023, Brazil’s real gross domestic product increased by 2.91 percent compared to the previous year.

Brazilian growth and civic unrest

GDP is a reliable tool used to indicate the shape of a national economy. It is one of the most well-known and well-understood measurements of the state of a country. Gross domestic product, or GDP, is the total market value of all final services and goods that have been produced in a country within a given period of time, usually a year.

Brazil has undergone a huge economic transformation in the course of the last decade and is now one of the fastest growing economies on the planet. It belongs to the BRIC club of countries, an acronym that refers to the countries Brazil, Russia, India and China, a group of countries which are considered to be at a relatively similar stage of new and advancing economic development. Economic reforms in Brazil have given the country a boost on the international stage, which has helped it to gain significantly in recognition and influence around the world.

The domestic product growth rate in Brazil is progressing throughout the years. After a minor blip in 2009, when a short recession saw the rate of growth moving slightly backwards, the economy has picked itself up and fought back with an increase of an impressive 7.53 percent in 2010. Despite the rapid growth and the perceived increase in Brazilian domestic prosperity, the gap between rich and poor remains distinct. The lower class manifested themselves in the numerous protests that erupted across the South American state in the summer of 2013. For days, hundreds of thousands of Brazilians took to the streets to protest the increase of public transport fares, but the demonstrations evolved into a more general protest against increasing social inequalities among the Brazilian population, despite increased prosperity.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Global real gross domestic product (GDP) growth is estimated to remain around three percent until 2025. While the increase is expected to be only 0.8 percent in the Euro Area in 2024, it is estimated to grow by over five percent in emerging and developing Asia.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The fastest growing economy in Europe in 2024 was Malta. The small Mediterranean country's gross domestic product grew at five percent in 2024, beating out Montenegro which had a growth rate of almost four percent and the Russian Federation which had a rate of 3.6 percent in the same year. Estonia was the country with the largest negative growth in 2024, as the Baltic country's economy shrank by 0.88 percent compared with 2023, largely as a result of the country's exposure to the economic effects of Russia's invasion of Ukraine and the subsequent economic sanctions placed on Russia. Germany, Europe's largest economy, experience economic stagnation with a growth of 0.1 percent. Overall, the EU (which contains 27 European countries) registered a growth rate of one percent and the Eurozone (which contains 20) grew by 0.8 percent.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2023, the real gross domestic product (GDP) in the Philippines grew by approximately 5.55 percent, marking the highest growth rate in Southeast Asia. In comparison, Singapore's real GDP growth rate dropped to less than 1.1 percent. Most Southeast Asian economies are projected to see an increase in their real GDP growth rates in 2025 compared to 2023, except for Laos and Myanmar. Southeast Asia, a tapestry of economic and cultural complexity Historically a critical component of global trade, Southeast Asia is a diverse region with heterogeneous economies. The region comprises 11 countries in total. While Singapore is a highly developed country economy and Brunei has a relatively high GDP per capita, the rest of the Southeast Asian countries are characterized by lower GDPs per capita and have yet to overcome the middle-income trap. Malaysia is one of these countries, having reached the middle-income level for many decades but yet to grow incomes proportionally to its economic development. Nevertheless, Southeast Asia’s young population will further drive economic growth across the region’s markets. ASEAN’s economic significance Aiming to promote economic growth, social progress, cultural development, and regional stability, all Southeast Asian countries except for Timor-Leste are part of the political and economic union Association of Southeast Asian Nations (ASEAN). Even though many concerns surround the union, ASEAN has avoided trade conflicts and is one of the largest and most dynamic trade zones globally. Factors such as the growing young population, high GDP growth, a largely positive trade balance, and exemplary regional integration hold great potential for future economic development in Southeast Asia.

The coronavirus (COVID-19) pandemic, has had a significant impact on the global economy. In 2020, global Gross Domestic Product (GDP) decreased by 3.4 percent, while the forecast initially was 2.9 percent GDP growth. As the world's governments are working towards a fast economic recovery, the GDP increased again in 2021 by 5.8 percent. Global GDP increased by over three percent in 2022, but it is still not clear to what extent Russia's war in Ukraine will impact the global economy. Global GDP growth is expected to slow somewhat in 2023.

The global tour operator software market was valued at USD 650.3 million in 2023 and is projected to reach USD 1428.7 million by 2030, registering a CAGR of 11.9% for the forecast period 2023- 2030 The fast-growing travel industry is contributing to the growth of the global tour operator software market

Tourism is one of the fastest-growing industries and contributes a great deal to economies around the world. In recent years the tourism industry has grown significantly across the globe. Nowadays, people tend to spend more and more time traveling between their homes and places for work or studies.

For instance, according to the U.S. Travel Association, total travel spending improved to 0.9% above June 2022 levels and was up 4.7% year-to-date through June 2023.
In addition, World Travel & Tourism Council states that, in 2022, the Travel & Tourism sector contributed 7.6% to global GDP; an increase of 22% from 2021 and only 23% below 2019 levels, and international visitor spending rose by 81.9% in 2022. 

To boost their business profit in this rapidly increasing tourism industry, tour operators want tour operator software that regulates their packages and maximizes online booking. In order to enhance their profit and revenue, companies also require a professional tour operator framework.

Increasing Adoption of Al across the Tourism Sector is accelerating the growth of the tour operator software market

The use of artificial intelligence (AI) in tour operator software is becoming increasingly popular for booking attractive tour packages. This integration is improving customer experience and services within the tourism industry. With the added benefits of artificial travel intelligence, passengers can expect customized, automated, and insightful travel arrangements that meet their expectations. The integration of AI also allows tour operators to study the interests and behaviors of their travelers, offering an enhanced experience. Thus, the growing integration of Al is boosting the tour operator software market globally.

COVID-19 Impact on Global Tour Operator Software Market

The pandemic generated unprecedented disruption to tourism, with a major drop in international demand as countries implemented broad lockdowns and travel restrictions in order to prevent the virus's spread.

International travel fell by 72% in 2020, the worst year on record for tourism, resulting in 1.1 billion fewer international tourists (overnight visitors) worldwide, reverting to levels seen 30 years earlier.

International tourism moderately recovered in the second half of 2021. Increased traveler confidence, as well as rapid progress on vaccinations and the relaxation of entrance restrictions in many countries, drove the surge in demand. As a result of this rise, demand for tour operator software surged during the first half of 2021. However, because to differing degrees of mobility limitations, vaccination rates, and traveler confidence, the pace of recovery has remained slow and unequal across the globe.

Tour Operator Software automates online tour inventory, booking, itinerary building, customized packages, group booking, payment gateway with customer management system capabilities, and back-office management for travel agencies and tour operators. Tour operator software can be used by travel agencies to streamline tour booking procedures, sell tour/destination packages via the web portal, or establish greater business collaboration with partners to boost online travel companies. Benefits of using tour operator software • It enables travel sites in the promotion of apartments, hotels, resorts, guest houses, and villas. • It gives unparalleled insights into benefits. • It shortens time through fast keyboard entry of transactions, full integration, and outer transaction import routines. • It enables their customers to appreciate the immense efficiency of the error correction process, increase productivity, and enhance the ability of the agency to manage changes.

According to Cognitive Market Research, The Global Metalworking Machinery Manufacturing market will grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030.

The rise in the automotive industry promotes market growth for metalworking machinery manufacturing.
Increasing investments in the construction industry will further promote market growth.
The Cutting tool & tooling system manufacturing category is expected to grow fastest by type category.
Asia Pacific dominates the metalworking machinery manufacturing market, whereas the European metalworking machinery manufacturing market will experience the strongest growth until 2030.

Rising Demand in Automotive Industry to Drive Market Growth

Due to the rising demand from the automotive industry, the market for metalworking machinery manufacturing is anticipated to expand at a strong rate during the forecast period. Personal car ownership is globally being greatly influenced by the increased customer desire to use personal vehicles for daily transportation. The need for metalworking tools like lathes, drilling machines, grinding machines, etc., is expanding significantly as a result of rising auto sales.

For instance, S&P Global Mobility predicts that new car sales will reach 83.6 million units in 2023, an increase of 5.6% year over year.

Additionally, the rising acceptance of electric vehicles is promoting the registration of new electric cars, primarily in China, the United States, and Europe. This development is anticipated to favorably affect the global market for metalworking equipment during the forecast period.

For instance, more than 10 million electric vehicles were sold globally in 2022, according to the IEA's annual Global Electric Vehicle Outlook, and sales are anticipated to increase by another 35% in 2023 to reach 14 million.

(Source:www.iea.org/news/demand-for-electric-cars-is-booming-with-sales-expected-to-leap-35-this-year-after-a-record-breaking-2022#:~:text=The%20new%20edition%20of%20the,year%20to%20reach%2014%20million.)

Stable Economic Growth Forecasts Will Promote Market Growth.

The growth of the market for metalworking machinery is encouraged by the steady economic expansion that is anticipated in many developed and developing nations.

According to forecasts from the International Monetary Fund (IMF), global GDP growth will be 3.3% in 2020 and 3.4% in 2021.

(Source:www.imf.org/en/publications/weo?page=2#:~:text=Description%3A%20Global%20growth%20is%20projected%20to%20rise%20from%20an%20estimated,World%20Economic%20Outlook%20(WEO).)

It is also anticipated that recovering commodity prices, which experienced a considerable decrease in the recent past, will support market expansion. Additionally, consistent growth is expected in developed economies over the predicted period.

Additionally, during the projected period, emerging markets are anticipated to grow faster than developed markets. Investments in the end-user markets are expected to rise as a result of stable economic expansion, propelling the market throughout the forecast period.

Rising Robotics trend to fuel market growth

Market Dynamics of Metalworking Machinery Manufacturing

Significant Shift by Digitalization and New Technology to Hamper the Market

For the metalworking machinery manufacturing business, the switch from internal combustion engines to electric drivetrains in the automotive sector constitutes a considerable challenge. Electric drivetrains, which have fewer tooled parts, do not require as many extremely exact metal parts as internal combustion engines do. This is the primary cause of the considerable fall in metal cutting and forming machine orders during the past 18 months, excluding the effects of the pandemic. The industry is seeing significant disruption in addition to the general economic unpredictability. Metalworking machinery manufacturers have never previously seen such a substantial shift in their sector as the one brought on by digitalization and new technology. Multitasking and additive manufacturing are examples of product advancements that can serve as viable substitutes for traditional machine tools as the manufacturing industry moves towards increased flexibility.

Significant connectivity and digital advances are advantageous characteristics. Improvements in machine performance and overall equipment effectiveness (O...

According to Cognitive market research-The Cleanroom Technology market size was valued at USD XX billion in 2023. It is estimated to reach USD XX billion by 2031, growing at a CAGR of XX% during the forecast period (2023–2031).

  Based on the product type, the global market is bifurcated equipment and consumables. The worldwide market is dominated by the consumables sector, which is expected to grow at a XX% CAGR during the forecast period.
  Based on end-use, the global market is bifurcated into the pharmaceutical industry, medical device industry, biotechnology industry, hospitals, and diagnostic center.
  With the largest market share for cleanroom technology, the pharmaceutical sector category is expected to grow at a compound annual growth rate (CAGR) of XX% throughout the projected period.
  The cleanroom technology market is dominated by North America, which is expected to grow at a compound annual growth rate (CAGR) of XX% during the projected period.
  One of the areas of the worldwide market with the quickest growth is Asia-Pacific. This area is expected to see high GDP growth, mostly due to expansion into Australia, China, Singapore, Indonesia, and India as well as improvements to the healthcare system.

Market Dynamics

Key Drivers of the Cleanroom Technologies Market

Growing use in the biopharmaceuticals sector will propel the cleanroom technology market's expansion.

For product approvals, the development and manufacturing procedures for pharmaceuticals and biologics must adhere to a number of national and international criteria. Pharmaceutical and biopharmaceutical businesses are focusing more on increasing their production capacity due to the increasing global demand for medicinal medications and vaccines. As worries about contamination, regulatory obstacles, and operational efficiency rise, so does the need for cleanrooms employed in their manufacturing facilities. One of the newest types of biotherapeutics is antibody–drug conjugates, whose manufacturing needs a specially designed infrastructure to guarantee tight adherence to regulations. For example, WHP Engineering finished building a new cleanroom facility in 2020 for the Welsh production facility of ADC Bio, a company that produces antibody-drug conjugates. The company's good manufacturing practices (GMP) facility produces the upcoming generation of ADC's popular anticancer medications. Moreover, among the biotherapeutics industry's fastest-growing categories are cell and gene treatments. Oxford Biomedica's new viral vector production center was completed by WHP in December 2020. The large-scale production of the COVID-19 vaccine will take place at the new GMP facility, which is also appropriate for producing gene therapy products and vaccines. Cleanroom architecture, process and vital utility systems, and heating, ventilation, and air conditioning (HVAC) are all included in the design.

Technological developments in cleanroom technology driving the market growth

Over the course of the forecast period, cleanroom technology advancements are anticipated to boost the market. This technique has become more widely used in numerous industrial applications since World War II. Additionally, tanks, artillery, and aeroplanes were made with this technology. HEPA filters were discovered at the same time. After the war, HEPA filter technology was used, among other things, to produce gyroscopes and electronics. The availability of fire-resistant cleanrooms and a large selection of finishing products, such as epoxy, fire-reinforced plastics, and vinyl sheeting with heat-molded steams, is another important benefit of traditional cleanroom constructions. Conversely, modular cleanrooms are taking the place of traditional cleanrooms because of their enhanced features, such as flexibility and distinctiveness. June 2022: Biocontainment suits, clean room air showers, laminar flow workstations, environmental chambers, and modular clean rooms are among the modular clean room solutions that Kleanlabs has added to their product range. The firm provides three distinct modular cleanroom solutions—Flexwalls, Softwalls, and Hardwalls—to meet the demands of diverse industrial sectors based on the modularity and adaptability of the systems.

A vast array of useful instr...

The real gross domestic product (GDP) growth of Macao was more than 80 percent in 2023, which was the highest growth rate across all countries and territories in the Asia-Pacific region in that year. In comparison, China's real GDP was reported to grow at about 5.25 percent in 2023 and projected to grow by 3.3 percent by 2029.

Vietnam’s real gross domestic product (GDP) has been experiencing positive growth for the past five years since 2019, and is projected to continue to do so through 2029. In 2023, Vietnam’s real GDP increased by around five percent compared to the previous year.

Learning from real GDP

Real gross domestic product (GDP) is a measure that reflects the value of all goods and services an economy produces within a given year. It is expressed in base-year prices, and is thus an inflation-adjusted way to compare a country’s economic output through the years. The GDP growth rate is a significant indicator of a country’s economic health, as it reacts to the economy’s expansions and contractions.

Vietnam’s optimistic future

As indicated by the positive growth rate of its real GDP, Vietnam’s economy is expanding due to growth in exports, domestic demand, and the manufacturing sector. As the economy expands, so does the total expenditure of Vietnamese consumers. The average monthly income per capita in Vietnam increased to almost 3.8 percent in 2018, and is spent on fast moving consumer goods from popular brands like Vinamilk and P/S.

In 2023 the real gross domestic product (GDP) of the United States increased by 2.5 percent compared to 2022. This rate of annual growth indicates a return to economy normalcy after 2020 saw a dramatic decline in the GDP growth rate due to the the coronavirus (COVID-19) pandemic, and high growth in 2021.

What does GDP growth mean?

Essentially, the annual GDP of the U.S. is the monetary value of all goods and services produced within the country over a given year. On the surface, an increase in GDP therefore means that more goods and services have been produced between one period than another. In the case of annualized GDP, it is compared to the previous year. In 2023, for example, the U.S. GDP grew 2.5 percent compared to 2022.

Countries with highest GDP growth rate

Although the United States has by far the largest GDP of any country, it does not have the highest GDP growth, nor the highest GDP at purchasing power parity. In 2021, Libya had the highest growth in GDP, growing more than 177 percent compared to 2020. Furthermore, Luxembourg had the highest GDP per capita at purchasing power parity, a better measure of living standards than nominal or real GDP.

This statistic shows the growth of the real gross domestic product (GDP) in Turkey from 2019 to 2023, with projections up until 2029. The real GDP is also known as economic growth. In 2023, the growth of the real GDP in Turkey was at approximately 5.11 percent compared to the previous year. Turkey's economy Based on economic standards, Turkey is recognized as an emerging market and is one of the world’s newly industrialized countries, having earned a place in the Group of Twenty, which is a group consisting of the twenty most important economies in the world. Turkey’s economical significance is partially attributed to the country’s growth, especially during the recent global financial recession. While countries around the world struggled to grow, let alone maintain a balanced economy, Turkey experienced a rather high percentage of gross domestic product growth annually. Additionally, Turkey’s financial sector saw significant improvements, most notably with the country’s inflation, which reached rates lower than those prior to the financial crash and even the lowest in a decade. With a rapidly growing populace as well as having had one of the fastest growing economies in Europe and the world, Turkey managed to maintain a stable and unchanged unemployment rate over the past decade, with the exception of 2009. However, despite a significant spike in unemployment, Turkey’s competent management helped bring the total unemployment rate to single digits for the first time in many years.