The statistic shows global gross domestic product (GDP) from 1985 to 2022, with projections up until 2029. In 2020, global GDP amounted to about 85.52 trillion U.S. dollars, two and a half trillion lower than in 2019. Gross domestic product Gross domestic product, also known as GDP, is the accumulated value of all finished goods and services produced in a country, often measured annually. GDP is significant in determining the economic health, growth and productivity in the country, and is a stat often used when comparing several countries at a time, most likely in order to determine which country has seen the most progress. Until 2020, Global GDP had experienced a growth every year since 2010. However, a strong growth rate does not necessarily lead to all positive outcomes and often has a negative effect on inflation rates. A severe growth in GDP leads to lower unemployment, however lower unemployment often leads to higher inflation rates due to demand increasing at a much higher rate than supply and as a result prices rise accordingly. In terms of unemployment, growth had been fairly stagnant since the economic downturn of 2007-2009, but it remains to be seen what the total impact of the coronavirus pandemic will be on total employment.

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.

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.

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.

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.

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.

Graph and download economic data for World Uncertainty Index: Global: GDP Weighted Average (WUIGLOBALWEIGHTAVG) from Q1 1990 to Q4 2024 about uncertainty, World, average, GDP, and indexes.

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 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.

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 Gross Domestic Product (GDP) in China was worth 17794.78 billion US dollars in 2023, according to official data from the World Bank. The GDP value of China represents 16.88 percent of the world economy. This dataset provides - China GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Sweden was worth 584.96 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Sweden represents 0.55 percent of the world economy. This dataset provides the latest reported value for - Sweden GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

The Gross Domestic Product (GDP) in South Korea was worth 1712.79 billion US dollars in 2023, according to official data from the World Bank. The GDP value of South Korea represents 1.62 percent of the world economy. This dataset provides - South Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Nominal Gross Domestic Product for United States (NGDPSAXDCUSQ) from Q1 1950 to Q3 2024 about GDP and USA.

Gross domestic product ranking table.

The Gross Domestic Product (GDP) in Japan was worth 4204.49 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Japan represents 3.99 percent of the world economy. This dataset provides - Japan GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

China Contribution to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data was reported at 1.515 % in 2024. This records an increase from the previous number of -0.600 % for 2023. China Contribution to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data is updated yearly, averaging 0.100 % from Dec 1953 (Median) to 2024, with 72 observations. The data reached an all-time high of 4.000 % in 1994 and a record low of -6.900 % in 1985. China Contribution to(GDP) Gross Domestic ProductGrowth: Net Export of Goods and Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.AA: Gross Domestic Product: Contribution and Share to Growth.

The Gross Domestic Product (GDP) in Panama was worth 83.32 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Panama represents 0.08 percent of the world economy. This dataset provides - Panama GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Iran was worth 404.63 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Iran represents 0.38 percent of the world economy. This dataset provides - Iran GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.