Based on IMF forecasts from October 2023, the real GDP growth in industrial countries will slow in 2023, only growing by 1.5 percent. This is because if the impact of the high global inflation rates. On the other hand, the GDP of emerging and developing countries is expected to grow by around four percent both in 2022, 2023, and 2024.

In 2025, the United States had the largest economy in the world, with a gross domestic product of over 30 trillion U.S. dollars. China had the second largest economy, at around 19.23 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 Russia'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.

Thailand TH: IMF Forecast: General Government: Primary Balance: % of GDP data was reported at -0.658 % in 2023. This records a decrease from the previous number of -0.649 % for 2022. Thailand TH: IMF Forecast: General Government: Primary Balance: % of GDP data is updated yearly, averaging -0.107 % from Dec 2000 (Median) to 2023, with 24 observations. The data reached an all-time high of 3.254 % in 2006 and a record low of -5.505 % in 2002. Thailand TH: IMF Forecast: General Government: Primary Balance: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Thailand – Table TH.IMF.FM: Government Finance Statistics.

This study examines the determinants influencing the likelihood of Sub-Saharan African (SSA) countries seeking assistance from the International Monetary Fund (IMF). The IMF, as a global institution, aims to promote sustainable growth and prosperity among its member countries by supporting economic strategies that foster financial stability and collaboration in monetary affairs. Utilising panel-probit regression, this study analyses data from thirty-nine SSA countries spanning from 2000 to 2022, focusing on twelve factors: Current Account Balance (CAB), inflation, corruption, General Government Net Lending and Borrowing (GGNLB), General Government Gross Debt (GGGD), Gross Domestic Product Growth (GDPG), United Nations Security Council (UNSC) involvement, regime types (Closed Autocracy, Electoral Democracy, Electoral Autocracy, Liberal Democracy) and China Loan. The results indicate that corruption and GDP growth rate have the most significant influence on the likelihood of SSA countries seeking IMF assistance. Conversely, factors such as CAB, UNSC involvement, LD and inflation show inconsequential effects. Notable, countries like Sudan, Burundi, and Guinea consistently rank high in seeking IMF assistance over various time frames within the observed period. Sudan emerges with a probability of more than 44% in seeking IMF assistance, holding the highest ranking. Study emphasises the importance of understanding SSA region rankings and the variability of variables for policymakers, investors, and international organisations to effectively address economic challenges and provide financial assistance.

Switzerland IMF Forecast: General Government: Gross Debt: % of GDP data was reported at 33.694 % in 2023. This records a decrease from the previous number of 34.880 % for 2022. Switzerland IMF Forecast: General Government: Gross Debt: % of GDP data is updated yearly, averaging 43.870 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 59.161 % in 2004 and a record low of 33.694 % in 2023. Switzerland IMF Forecast: General Government: Gross Debt: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Switzerland – Table CH.IMF.FM: Government Finance Statistics.

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.

By the year 2030, it is projected that China will eclipse the United States and have the largest gross domestic product (GDP) in the world, at 31.7 trillion U.S. dollars. The United States is projected to have the second largest GDP, at 22.9 trillion U.S. dollars.

What is gross domestic product?

Gross domestic product, or GDP, is an economic measure of a country’s production in time. It includes all goods and services produced by a country and is used by economists to determine the health of a country’s economy. However, since GDP just shows the size of an economy and is not adjusted for the country’s size, this can make direct country comparisons complicated.

The growth of the global economy

Currently, the United States has the largest GDP in the world, at 20.5 trillion U.S. dollars. China has the second largest GDP, at 13.4 trillion U.S. dollars. In the coming years, production will become faster and more global, which will help to grow the global economy.

Uzbekistan UZ: IMF Forecast: General Government: Overall Balance: % of GDP data was reported at -2.684 % in 2023. This records a decrease from the previous number of -2.613 % for 2022. Uzbekistan UZ: IMF Forecast: General Government: Overall Balance: % of GDP data is updated yearly, averaging -2.350 % from Dec 1992 (Median) to 2023, with 32 observations. The data reached an all-time high of 8.966 % in 1992 and a record low of -14.932 % in 1993. Uzbekistan UZ: IMF Forecast: General Government: Overall Balance: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Uzbekistan – Table UZ.IMF.FM: Government Finance Statistics.

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.

Contains the GDP growth (% change) from 1980 to 2023 (predicted from 2019 and onwards) for countries around the world. The data was sourced from the International Monetary Fund (IMF), World Economic Outlook (Oct 2018), and from Focus Economics. The spatial data (polygons) were sourced from the World Countries layer by Esri.You can view and download the data here: https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLDhttps://www.focus-economics.com/blog/emerging-markets-2019-economic-outlook

According to preliminary figures, the growth of real gross domestic product (GDP) in China amounted to 5.0 percent in 2024. For 2025, the IMF expects a GDP growth rate of around 3.95 percent. Real GDP growth The current gross domestic product is an important indicator of the economic strength of a country. It refers to the total market value of all goods and services that are produced within a country per year. When analyzing year-on-year changes, the current GDP is adjusted for inflation, thus making it constant. Real GDP growth is regarded as a key indicator for economic growth as it incorporates constant GDP figures. As of 2024, China was among the leading countries with the largest gross domestic product worldwide, second only to the United States which had a GDP volume of almost 29.2 trillion U.S. dollars. The Chinese GDP has shown remarkable growth over the past years. Upon closer examination of the distribution of GDP across economic sectors, a gradual shift from an economy heavily based on industrial production towards an economy focused on services becomes visible, with the service industry outpacing the manufacturing sector in terms of GDP contribution. Key indicator balance of trade Another important indicator for economic assessment is the balance of trade, which measures the relationship between imports and exports of a nation. As an economy heavily reliant on manufacturing and industrial production, China has reached a trade surplus over the last decade, with a total trade balance of around 992 billion U.S. dollars in 2024.

Switzerland IMF Forecast: General Government: Overall Balance: % of GDP data was reported at 0.323 % in 2023. This records an increase from the previous number of 0.305 % for 2022. Switzerland IMF Forecast: General Government: Overall Balance: % of GDP data is updated yearly, averaging 0.292 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 1.930 % in 2008 and a record low of -3.155 % in 1993. Switzerland IMF Forecast: General Government: Overall Balance: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Switzerland – Table CH.IMF.FM: Government Finance Statistics.

Gross domestic product (GDP) of emerging and developing countries in Asia is expected to reach over 37.44 trillion U.S. dollars by 2029. This would be almost double the GDP from a decade earlier, which was about 20.59 trillion U.S. dollars. Emerging and developing economies are the second-largest source of global GDP. The region’s GDP generally comes from manufacturing and trade, as well as growing financial industries and international commerce. A region with growing economic power Of the countries the IMF categorizes as emerging and developing in Asia (See “More information” for full list), several are a part of the Association of Southeast Asian Nations (ASEAN), an organization that provides the collaborating nations with a greater opportunity for growth and participation in the global economy than they would otherwise have. Indonesia, a founding member, has the largest economy in South East Asia, and is predicted to be one of the 15 countries worldwide with the highest GDP by 2030.

The BRICS countries overtook the G7 countries share of the world's total gross domestic product (GDP) in terms of purchasing power parity (PPP) in 2018. By 2024, the difference had increased even further, the BRICS now holding a total 35 percent of the world's GDP compared to 30 percent held by the G7 countries.

Vietnam VN: IMF Forecast: General Government: Revenue: % of GDP data was reported at 22.877 % in 2023. This records a decrease from the previous number of 22.890 % for 2022. Vietnam VN: IMF Forecast: General Government: Revenue: % of GDP data is updated yearly, averaging 23.179 % from Dec 1998 (Median) to 2023, with 26 observations. The data reached an all-time high of 27.260 % in 2010 and a record low of 19.625 % in 1999. Vietnam VN: IMF Forecast: General Government: Revenue: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Vietnam – Table VN.IMF.FM: Government Finance Statistics.

Yemen YE: IMF Forecast: General Government: Expenditure: % of GDP data was reported at 15.264 % in 2023. This records a decrease from the previous number of 15.621 % for 2022. Yemen YE: IMF Forecast: General Government: Expenditure: % of GDP data is updated yearly, averaging 29.044 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 41.247 % in 2008 and a record low of 8.166 % in 2017. Yemen YE: IMF Forecast: General Government: Expenditure: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Yemen – Table YE.IMF.FM: Government Finance Statistics.

Germany was forecast to experience an economic stagnation in 2024, with a gross domestic product (GDP) growth rate of zero percent. However, it is estimated to grow slightly in 2024 and 2025. The United States is forecast to have the highest GDP growth rate of the G7 in 2024.

South Africa's GDP was estimated at just over 403 billion U.S. dollars in 2024, the highest in Africa. Egypt followed, with a GDP worth around 380 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with about 260 billion U.S. dollars. These African economies are among some of the fastest-growing economies worldwide. Dependency on oil For some African countries, the oil industry represents an enormous source of income. In Nigeria, oil generates over five percent of the country’s GDP in the third quarter of 2023. However, economies such as the Libyan, Algerian, or Angolan are even much more dependent on the oil sector. In Libya, for instance, oil rents account for over 40 percent of the GDP. Indeed, Libya is one of the economies most dependent on oil worldwide. Similarly, oil represents for some of Africa’s largest economies a substantial source of export value. The giants do not make the ranking Most of Africa’s largest economies do not appear in the leading ten African countries for GDP per capita. The GDP per capita is calculated by dividing a country’s GDP by its population. Therefore, a populated country with a low total GDP will have a low GDP per capita, while a small rich nation has a high GDP per capita. For instance, South Africa has Africa’s highest GDP, but also counts the sixth-largest population, so wealth has to be divided into its big population. The GDP per capita also indicates how a country’s wealth reaches each of its citizens. In Africa, Seychelles has the greatest GDP per capita.

SA: Current Account: % of GDP data was reported at 2.200 % in 2017. This records an increase from the previous number of -3.700 % for 2016. SA: Current Account: % of GDP data is updated yearly, averaging 13.100 % from Dec 2001 (Median) to 2017, with 17 observations. The data reached an all-time high of 28.500 % in 2005 and a record low of -8.700 % in 2015. SA: Current Account: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Saudi Arabia – Table SA.IMF: Current Account as % of GDP.

In 2025, Luxembourg was the country with the highest gross domestic product per capita in the world. Of the 20 listed countries, 13 are in Europe and four are in Asia, alongside the U.S., Canada, and Australia. There are no African or Latin American countries among the top 20. Correlation with high living standards While GDP is a useful indicator for measuring the size or strength of an economy, GDP per capita is much more reflective of living standards. For example, when compared to life expectancy or indices such as the Human Development Index or the World Happiness Report, there is a strong overlap - 14 of the 20 countries on this list are also ranked among the 20 happiest countries in 2024, and all 20 have "very high" HDIs. Misleading metrics? GDP per capita figures, however, can be misleading, and to paint a fuller picture of a country's living standards then one must look at multiple metrics. GDP per capita figures can be skewed by inequalities in wealth distribution, and in countries such as those in the Middle East, a relatively large share of the population lives in poverty while a smaller number live affluent lifestyles.