The G7 countries' share of the world's gross domestic product (GDP) declined since 2000. While holding over ** percent of the world's total GDP in 2000, this had dropped below ** 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 ** percent in terms of purchasing-power-parity (PPP).

The average for 2023 based on 188 countries was 0.53 percent. The highest value was in the USA: 26.3 percent and the lowest value was in Andorra: 0 percent. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

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.

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.

New Zealand: Percent of world GDP: The latest value from 2023 is 0.24 percent, a decline from 0.25 percent in 2022. In comparison, the world average is 0.53 percent, based on data from 188 countries. Historically, the average for New Zealand from 1980 to 2023 is 0.22 percent. The minimum value, 0.16 percent, was reached in 2000 while the maximum of 0.26 percent was recorded in 2017.

The Gross Domestic Product (GDP) in the United States was worth 29184.89 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United States represents 27.49 percent of the world economy. This dataset provides - United States GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The graph shows China's share in global gross domestic product adjusted for purchasing-power-parity until 2024, with a forecast until 2030. In 2024, China's share was about 19.45 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 5.0 percent in 2024. China's per capita GDP is also expected to continue to grow, reaching 13,300 U.S. dollars in 2024. Comparatively, Luxembourg and Switzerland have some of the world’s largest GDP per capita with 141,100 U.S. dollars and 111,700 U.S. dollars, respectively, expected for 2025.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 50.2 million metric tons in 2023. GDP composition in China Industry and construction account for 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.

View economic output, reported as the nominal value of all new goods and services produced by labor and property located in the U.S.

Serbia: Percent of world GDP: The latest value from 2023 is 0.08 percent, an increase from 0.07 percent in 2022. In comparison, the world average is 0.53 percent, based on data from 188 countries. Historically, the average for Serbia from 1995 to 2023 is 0.06 percent. The minimum value, 0.02 percent, was reached in 2000 while the maximum of 0.09 percent was recorded in 1997.

Laos LA: GDP: % of GDP: Gross Fixed Capital Formation: Private Sector data was reported at 19.882 % in 2017. This records a decrease from the previous number of 21.151 % for 2016. Laos LA: GDP: % of GDP: Gross Fixed Capital Formation: Private Sector data is updated yearly, averaging 20.938 % from Dec 2000 (Median) to 2017, with 18 observations. The data reached an all-time high of 25.473 % in 2005 and a record low of 6.266 % in 2000. Laos LA: GDP: % of GDP: Gross Fixed Capital Formation: Private Sector 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: Share of GDP. Private investment covers gross outlays by the private sector (including private nonprofit agencies) on additions to its fixed domestic assets.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

India: Percent of world GDP: The latest value from 2023 is 3.45 percent, an increase from 3.31 percent in 2022. In comparison, the world average is 0.53 percent, based on data from 188 countries. Historically, the average for India from 1980 to 2023 is 2 percent. The minimum value, 1.09 percent, was reached in 1993 while the maximum of 3.45 percent was recorded in 2023.

Afghanistan: Percent of world GDP: The latest value from 2023 is 0.02 percent, an increase from 0.01 percent in 2022. In comparison, the world average is 0.53 percent, based on data from 188 countries. Historically, the average for Afghanistan from 2000 to 2023 is 0.02 percent. The minimum value, 0.01 percent, was reached in 2000 while the maximum of 0.03 percent was recorded in 2012.

Guinea: Percent of world GDP: The latest value from 2023 is 0.02 percent, unchanged from 0.02 percent in 2022. In comparison, the world average is 0.53 percent, based on data from 188 countries. Historically, the average for Guinea from 1980 to 2023 is 0.03 percent. The minimum value, 0.01 percent, was reached in 2000 while the maximum of 0.19 percent was recorded in 1985.

The Gross Domestic Product (GDP) in Turkey was worth 1323.25 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Turkey represents 1.25 percent of the world economy. This dataset provides the latest reported value for - Turkey GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Ecuador: Percent of world GDP: The latest value from 2023 is 0.11 percent, unchanged from 0.11 percent in 2022. In comparison, the world average is 0.53 percent, based on data from 188 countries. Historically, the average for Ecuador from 1980 to 2023 is 0.1 percent. The minimum value, 0.05 percent, was reached in 2000 while the maximum of 0.2 percent was recorded in 1981.

Ghana: Percent of world GDP: The latest value from 2023 is 0.08 percent, an increase from 0.07 percent in 2022. In comparison, the world average is 0.53 percent, based on data from 188 countries. Historically, the average for Ghana from 1980 to 2023 is 0.04 percent. The minimum value, 0.01 percent, was reached in 2000 while the maximum of 0.08 percent was recorded in 2013.

The statistic shows global gross domestic product (GDP) from 1985 to 2024, with projections up until 2030. In 2020, global GDP amounted to about 85.76 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.

Burkina Faso BF: GDP: % of GDP: Gross Domestic Savings data was reported at 15.446 % in 2023. This records a decrease from the previous number of 16.143 % for 2022. Burkina Faso BF: GDP: % of GDP: Gross Domestic Savings data is updated yearly, averaging 6.937 % from Dec 1960 (Median) to 2023, with 64 observations. The data reached an all-time high of 19.975 % in 2020 and a record low of -2.863 % in 2000. Burkina Faso BF: GDP: % of GDP: Gross Domestic Savings data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Burkina Faso – Table BF.World Bank.WDI: Gross Domestic Product: Share of GDP. Gross domestic savings are calculated as GDP less final consumption expenditure (total consumption).;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Palau PW: GDP: % of GDP: External Balance on Goods and Services data was reported at -26.203 % in 2017. This records a decrease from the previous number of -18.124 % for 2016. Palau PW: GDP: % of GDP: External Balance on Goods and Services data is updated yearly, averaging -29.704 % from Sep 2000 (Median) to 2017, with 18 observations. The data reached an all-time high of -13.663 % in 2015 and a record low of -65.103 % in 2000. Palau PW: GDP: % of GDP: External Balance on Goods and Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Palau – Table PW.World Bank.WDI: Gross Domestic Product: Share of GDP. External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

The USA: Foreign Direct Investment, percent of GDP: The latest value from 2024 is 1.33 percent, an increase from 1.26 percent in 2023. In comparison, the world average is 4.56 percent, based on data from 105 countries. Historically, the average for the USA from 1970 to 2024 is 1.17 percent. The minimum value, 0.07 percent, was reached in 1971 while the maximum of 3.41 percent was recorded in 2000.