Japan. Japan has the third-largest economy in the world with a GDP of $5.15 trillion. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports). For more than a century, the United States has been the world's biggest economy, accounting for over 24% of the world’s gross domestic product (GDP) in 2016, according to figures from the World Bank. Global GDP in terms of PPP is forecasted around of Int$141.86 trillion. "Global gross domestic product (GDP) at current prices from 2009 to 2021 (in billion international dollars)." Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product. Therefore, U.S. GDP was 40% of global GDP ($543 billion / $1.367 trillion). The gross world product (GWP) is the combined gross national product of all the countries in the world equals to the total global GDP. The average value for Indonesia during that period was 286.67 billion U.S. dollars with a minimum of 5.67 billion U.S. dollars in 1967 and a maximum of 1119.19 billion U.S. dollars in 2019. The $74 Trillion Global Economy in One Chart. Russia is the ninth least indebted country in the world. GDP (current US$) from The World Bank: Data. Canada’s national debt currently sits at about $1.2 trillion CAD ($925 billion USD). Japan Nominal GDP: $5.15 trillion- Japan GDP (PPP): $5.75 trillion. (April 15, 2020). Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. World GDP table by year, historic, and current data. Learn more about how Statista can support your business. The figures were rounded for a better comprehension of the statistic. one international dollar would buy a comparable amount of goods and services in the respective country to the amount one U.S. dollar would buy in the United States. Find Out, Online tool for visualization and analysis. USD/INR is eyeing third-quarter Indian GDP at the end of the week. $39 per month* For example, in 1960, U.S. GDP was $543 billion and global GDP was $1.367 trillion (based on current U.S. Canada’s national debt is currently at 83.81% of its GDP. Growth is expected to be widespread and robust but “the cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around $9 trillion dollars… Are you interested in testing our corporate solutions? COVID-19 has delivered an enormous global shock, leading to steep recessions in many countries. The baseline forecast envisions a 5.2 percent contraction in global GDP in 2020—the deepest global recession in decades. Then you will be able to mark statistics as favourites and use personal statistics alerts. New, Everything you need to know about the industry development, Find studies from all around the internet. and over 1 Mio. A 2006 paper by the World Bank put the potential cost of a severe flu pandemic at 4.8% of global GDP—a tailspin that would rival that seen in 2009 after the financial crisis. The world economy or global economy is the economy of all humans of the world, referring to the global economic system that includes all economic activity within nations and between nations, including production, consumption, economic management, exchange of financial values and trade of goods and services. To learn more about cookies, click here. In, IMF. The GDP value of the United States represents 17.65 percent of the world economy. Directly accessible data for 170 industries from 50 countries World Bank national accounts data, and OECD National Accounts data files. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Gross domestic product 2019 (millions of Ranking Economy US dollars) USA 1 United States 21,427,700 CHN 2 China 14,342,903 JPN 3 Japan 5,081,770 DEU 4 Germany 3,845,630 IND 5 India 2,875,142 GBR 6 United Kingdom 2,827,113 Daily data updates are provided for exchange rates, equity markets, and emerging market bond indices. So, the global economy rebounds from a 5.4% decline of 2015. In PPP, the biggest economy, China shares 18.6% of the world, and lowest-ranked Tuvalu shares 0.00004 percent. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports). (billed annually). In 2017, according to the CIA's World Factbook, the GWP was around US $80.27 trillion in … Statista. The latest projected “GDP rankings of the world’s largest economies” is based on the size of national economies in US dollar terms. The statistic shows the growth in global gross domestic product (GDP) from 2009 to 2019, with projections up until 2021. The sustainable debt universe has now topped $1.5tn for the first time—80% in EUR, USD, and CNY . *Forecast. World Economic Outlook Update, June 2020: A Crisis Like No Other, An Uncertain Recovery June 24, 2020 Description: Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. Providing daily updates of global economic developments, with coverage of high income- as well as developing countries. G20, a grouping of developed and developing nations, today vowed to take more measures to push the global GDP by an additional 2 per cent, or over USD 2 trillion, by 2018. In 2017, the global GDP (or gross world product) amounted to about 80.14 trillion U.S. dollars. Moreover, according to IMF's World Economic Outlook, in 2018, economic activity is projected to pick up the pace to grow by 6 percent. In 2017, the world's nominal GDP was estimated at $80,051 billion by the International Monetary Fund, up by 5.8 percent from the previous year. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook The list of countries by GDP showed on this page is based on the latest data from the World Economic Outlook by the International Monetary Fund. 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