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 statistic shows the 20 countries with the largest proportion of the global gross domestic product (GDP) based on Purchasing Power Parity (PPP) in 2023. In 2023, Germany had an estimated share of about 3.15 percent of the global GDP.

In 2023, the United States accounted for 15.56 percent of global gross domestic product (GDP) after adjusting for purchasing power parity (PPP). This share was expected to decrease to 14.72 percent by 2029, which is roughly a seventh of the global total. What is PPP? The easiest way to understand purchasing power parity is the Big Mac Index, a measure developed by The Economist. The index tracks the price of the McDonald’s Big Mac burger, sold at each of its thousands of restaurants worldwide. Countries where the Big Mac is most expensive have higher purchasing power, meaning one can buy more for each unit of that currency. To calculate PPP, economists use a group of goods to calculate the ratio of the price of this group in each country. This ratio is then used to convert all countries into a standardized price level, on parity with each other. Why use PPP? A U.S. dollar in the United States does not have the same purchasing power as a dollar in China, even after considering the exchange rate. For this reason, adjusting for PPP gives an idea of what the rest of the world could buy in the United States, if prices were the same as in their home country. However, some economists argue that using PPP for comparisons between countries is inaccurate because it changes the price level differently for each country. Still, because it accounts not only for country-specific effects but also inflation and exchange rate fluctuations, PPP is a very popular metric.

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP 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.

GDP per capita is gross domestic product divided by midyear population. GDP 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.

The graph shows China's share in global gross domestic product adjusted for purchasing-power-parity until 2023, with a forecast until 2029. In 2023, China's share was about 18.75 percent. China's global GDP share Due to the introduction of capitalist market principles in 1978, China's economic market began to show immense change and growth. China's real GDP growth ranged at 5.2 percent in 2023. China's per capita GDP is also expected to continue to grow, reaching 12,600 U.S. dollars in 2023. Comparatively, Luxembourg and Ireland have some of the world’s largest GDP per capita with 129,800 U.S. dollars and 104,300 U.S. dollars, respectively, as of 2023. China is the largest exporter and second largest importer of goods in the world and is also among the largest manufacturing economies. The country also ranges among the world's largest agricultural producers and consumers. It relies heavily on intensive agricultural practices and is the world's largest producer of pigs, chickens, and eggs. Livestock production has been heavily emphasized since the mid-1970s. China’s chemical industry has also seen growth with a heavy focus on fertilizers, plastics, and synthetic fibers. China's use of chemical fertilizers amounted to approximately 50.8 million metric tons in 2022. GDP composition in China Industry and construction account for slightly less than 40 percent of China's GDP. Some of the major industries include mining and ore processing, food processing, coal, machinery, textiles and apparel, and consumer products. Almost half of China's output is dedicated to investment purposes. However, as the country tends to support gross output, innovation, technological advancement, and even quality are often lacking.

The Global 15x15 Minute Grids of the Downscaled GDP Based on the Special Report on Emissions Scenarios (SRES) B2 Scenario, 1990 and 2025, are geospatial distributions of Gross Domestic Product (GDP) per Unit area (GDP densities). These global grids were generated using the Country-level GDP and Downscaled Projections Based on the SRES B2 Scenario, 1990-2100 data set, and CIESIN's Gridded Population of World, Version 2 (GPWv2) data set as the base map. First, the GDP per capita was developed at a country-level for 1990 and 2025. Then the gridded GDP was developed within each country by applying the GDP per capita to each grid cell of the GPW, under the assumption that the GDP per capita was uniform within a country. This data set is produced and distributed by the Columbia University Center for International Earth Science Information Network (CIESIN).

The Gross Domestic Product (GDP) in the United States was worth 27720.71 billion US dollars in 2023, according to official data from the World Bank. The GDP value of the United States represents 26.29 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 Gross Domestic Product (GDP) In the Euro Area was worth 15780.69 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Euro Area represents 14.97 percent of the world economy. This dataset provides the latest reported value for - Euro Area GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

We developed and presented a set of comparable spatially explicit global gridded gross domestic product (GDP) for both historical period (2005 as representative) and for future projections from 2030 to 2100 at a ten-year interval for all five SSPs. The DMSP-OLS nighttime light (NTL) images and the LandScan Global Population database were used to generate LitPop map, which reduces the limitations of saturation problem of using NTL images alone or the assumption of even GDP per capita within an administrative boundary of gridded data set in GDP disaggregation. We used the LitPop maps to disaggregate national GDP and over 800 provincial gross regional product (GRP, in 2005 PPP USD) across the globe in 2005 and to downscaled to a spatial resolution of 30 arc-seconds (~1 km at equator). National and supranational GDP growth rate projections in 2030-2100 under five SSPs were then downscaled to 1-km grids based on the LitPop approach, which used NPP-VIIRS product as fixed NTL image in 2015 and the population projections of 0.125 arc-degreee (Jones and O'Neill, 2016), which are downscaled to 1-km based on LandScan population distribution pattern in 2015. We then upscaled this gridded GDP dataset to 0.25 arc-degree and provided here.

There are 41 tif files (2005 and 2030 - 2100 at a ten-year interval for five SSPs) for each spatial resolution. The gridded GDP are distributed over land with value of zero filled in the Antarctica, oceans and some desert or wilderness areas (non-illuminated and depopulated zones). The spatial extents are 60S - 90N and 180E - 180W in standard WGS84 coordinate system.

For more details, please refer to the corresponding article: Global gridded GDP data set consistent with the shared socioeconomic pathways by Wang and Sun (2022).

Italy IT: GDP data was reported at 1,716,934.700 EUR mn in 2017. This records an increase from the previous number of 1,680,948.100 EUR mn for 2016. Italy IT: GDP data is updated yearly, averaging 626,620.681 EUR mn from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 1,716,934.700 EUR mn in 2017 and a record low of 13,014.646 EUR mn in 1960. Italy IT: GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Italy – Table IT.World Bank: Gross Domestic Product: Nominal. 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 local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Key information about Syria Public Consumption: % of GDP

• Syria Public Consumption accounted for 2.7 % of its Nominal GDP in Dec 2022, compared with a share of 6.8 % in the previous year.
• Syria Public Consumption share of Nominal GDP ratio is updated yearly, available from Dec 1963 to Dec 2022, with an average number of 16.2 %.
• The data reached an all-time high of 92.9 % in Dec 1968 and a record low of 2.7 % in Dec 2022.

CEIC calculates Government Consumption as % of Nominal GDP from annual Government Consumption Expenditure and annual Nominal GDP. The Central Bureau of Statistics provides Government Consumption Expenditure and Nominal GDP in local currency. Government Consumption as % of Nominal GDP prior to 1970 is sourced from International Monetary Fund.


Related information about Syria Public Consumption: % of GDP

• In the latest reports, Syria GDP expanded 1.3 % YoY in Dec 2021.
• Syria Nominal GDP reached 12.1 USD bn in Dec 2021.
• Its GDP deflator (implicit price deflator) increased 48.3 % in Dec 2021.
• Syria GDP Per Capita reached 1,012.8 USD in Dec 2019.
• Its Gross Savings Rate was measured at -17.5 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 26.3 % in Dec 2010.
• Private Consumption accounted for 114.8 % in Dec 2022.

The share in the global GDP adjusted for PPP in Brazil was forecast to continuously decrease between 2024 and 2029 by in total 0.1 percentage points. After the fifth consecutive decreasing year, the share is estimated to reach 2.32 percent and therefore a new minimum in 2029. Depicted here is the share of a country's gross domestic product in the global gross domestic product. As the International Monetary Fund describes, the GDP (indicating the total value of final goods and services produced during a year) has been adjusted for purchasing power parity and set in relation to the purchasing power adjusted global GDP value.Find more statistics on other topics about Brazil with key insights such as the growth of the real the gross domestic product, ratio of the national debt to the gross domestic product, and the gross domestic product in current prices.

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.

Laos LA: GDP: % of GDP: Trade data was reported at 75.827 % in 2017. This records an increase from the previous number of 75.092 % for 2016. Laos LA: GDP: % of GDP: Trade data is updated yearly, averaging 66.667 % from Dec 1984 (Median) to 2017, with 34 observations. The data reached an all-time high of 99.060 % in 2014 and a record low of 9.106 % in 1984. Laos LA: GDP: % of GDP: Trade data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Laos – Table LA.World Bank: Gross Domestic Product: Share of GDP. Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Brazil BR: Gross Domestic Product (GDP) data was reported at 10,943,344.750 BRL mn in 2023. This records an increase from the previous number of 10,079,676.500 BRL mn for 2022. Brazil BR: Gross Domestic Product (GDP) data is updated yearly, averaging 3,609,443.063 BRL mn from Dec 1996 (Median) to 2023, with 28 observations. The data reached an all-time high of 10,943,344.750 BRL mn in 2023 and a record low of 854,763.500 BRL mn in 1996. Brazil BR: Gross Domestic Product (GDP) data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Brazil – Table BR.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

The share in the global GDP adjusted for PPP in Australia was forecast to continuously decrease between 2024 and 2029 by in total 0.1 percentage points. After the third consecutive decreasing year, the share is estimated to reach 0.93 percent and therefore a new minimum in 2029. This indicator describes the share of a country's gross domestic product in the global gross domestic product. To this end the GDP (indicating the total value of final goods and services produced during a year) has been adjusted for purchasing power parity and set in relation to the purchasing power adjusted global GDP value.Find more statistics on other topics about Australia with key insights such as the growth of the real the gross domestic product, the budget balance in relation to the gross domestic product, and the total population.

The average for 2023 based on 11 countries was 0.18 percent. The highest value was in Australia: 1.65 percent and the lowest value was in Kiribati: 0 percent. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

Georgia GE: GDP data was reported at 38,042.216 GEL mn in 2017. This records an increase from the previous number of 34,028.452 GEL mn for 2016. Georgia GE: GDP data is updated yearly, averaging 0.019 GEL mn from Dec 1965 to 2017, with 53 observations. The data reached an all-time high of 38,042.216 GEL mn in 2017 and a record low of 0.004 GEL mn in 1965. Georgia GE: GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Georgia – Table GE.World Bank: Gross Domestic Product: Nominal. 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 local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;