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.

The Gross Domestic Product (GDP) in World was worth 106171.67 billion US dollars in 2023, according to official data from the World Bank. This dataset includes a chart with historical data for World GDP.

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.

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.

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.

Graph and download economic data for Constant GDP per capita for the World (NYGDPPCAPKDWLD) from 1960 to 2023 about World, per capita, real, and GDP.

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 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.

Gross domestic product ranking table.

Full Year GDP Growth in World increased to 3.20 percent in 2024 from 2.80 percent in 2023. This dataset includes a chart with historical data for World Full Year GDP Growth.

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.

The G7 countries' share of the world's gross domestic product (GDP) declined since 2000. While holding over 40 percent of the world's total GDP in 2000, this had dropped below 30 percent by 2024, a development that must be seen in relation with China's economic development over the past decades. Of the G7 countries, the United States held the largest share of the world's GDP at 15 percent in terms of purchasing-power-parity (PPP).

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 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.

Laos LA: GDP: per Capita data was reported at 20,522,851.610 LAK in 2017. This records an increase from the previous number of 19,128,790.622 LAK for 2016. Laos LA: GDP: per Capita data is updated yearly, averaging 2,729,523.355 LAK from Dec 1984 (Median) to 2017, with 34 observations. The data reached an all-time high of 20,522,851.610 LAK in 2017 and a record low of 17,148.205 LAK in 1984. Laos LA: GDP: per Capita 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.WDI: Gross Domestic Product: Nominal. 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 local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

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.

Key information about China GDP Per Capita

• China Gross Domestic Product (GDP) per Capita reached 12,621.720 USD in Dec 2023, compared with 12,674.873 USD in Dec 2022.
• China GDP Per Capita data is updated yearly, available from Dec 1957 to Dec 2023, with an average number of 369.297 USD.
• The data reached an all-time high of 12,674.873 USD in Dec 2022 and a record low of 68.243 in Dec 1957.
• CEIC converts annual GDP per Capita into USD. The National Bureau of Statistics provides GDP per Capita in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

• In the latest reports, China GDP expanded 4.550 % YoY in Mar 2023.
• China Nominal GDP reached 4,166.759 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.400 % in Mar 2023.
• Gross Savings Rate of China was measured at 44.277 % in Dec 2023.

The share in the global GDP adjusted for PPP in Malaysia was forecast to continuously increase between 2024 and 2029 by in total 0.04 percentage points. The share is estimated to amount to 0.74 percent 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 key insights for the share in the global GDP adjusted for PPP in countries like Indonesia, Cambodia, and Laos.