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From Wikipedia, the free encyclopedia

The world economy or the global economy is the economy of all humans of the world, referring to the global economic system which includes all economic activities which are conducted both within and between nations, including production, consumption, economic management, work in general, exchange of financial values and trade of goods and services.[1][2] In some contexts, the two terms are distinct "international" or "global economy" being measured separately and distinguished from national economies while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange, the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from the geography and ecology of planet Earth.

It is common to limit questions of the world economy exclusively to human economic activity and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research, genuine data or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.

However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government.

Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms of real United States dollars or euros. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 7.8 billion people (as of March 2020)[3][4] have most of their economic activity reflected in these valuations.

According to Maddison, until the middle of 19th century, global output was dominated by China and India. Waves of Industrial Revolution in Western Europe and Northern America shifted the shares to the Western Hemisphere. As of 2021, the following 16 countries or collectives have reached an economy of at least US$2 trillion by GDP in nominal or PPP terms: Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Spain, Turkey, the United Kingdom, the United States and the European Union.[5][6]

Despite high levels of government investment, the World Bank predicted that the global economy would decrease by 5.2 percent in 2020. Cities account for 80% of global GDP, thus they would face the brunt of this decline.[7] [8][9]

Overview

World economy by country groups

country groups with individual countries designated by the IMF.[10] Members of the G-20 major economies are in bold.
List of country groups by GDP (nominal) at peak level as of 2021 in thousands US$[11] List of country groups by GDP (PPP) at peak level as of 2021 in thousands US$[11]
Country group GDP (nominal) Peak year Number of countries 35 largest economies
World 94,935,114 2021 196
Major advanced economies (G7) 42,457,921 2021 7  Canada
 France
 Germany
 Italy
 Japan
 United Kingdom
 United States
Emerging and developing Asia 23,288,324 2021 30  China
 India
 Indonesia
 Thailand
Other advanced economies
(advanced economies excluding the G7)
13,628,758 2021 33  Australia
 Austria
 Belgium
 Denmark
 Ireland
 Israel
 South Korea
 Netherlands
 Norway
 Spain
 Sweden
  Switzerland
 Taiwan
Latin America and the Caribbean 6,061,407 2013 33  Argentina
 Brazil
 Mexico
Emerging and developing Europe 4,573,266 2013 16  Poland
 Russia
 Turkey
Middle East and Central Asia 4,598,192 2021 32  Iran
 Saudi Arabia
 United Arab Emirates
Sub-Saharan Africa 1,882,229 2021 45  Nigeria
 South Africa
Country group GDP (PPP) Peak year Number of countries 35 largest economies
World 144,636,376 2021 196
Emerging and developing Asia 47,120,772 2021 30  Bangladesh
 China
 India
 Indonesia
 Malaysia
 Philippines
 Thailand
 Vietnam
Major advanced economies (G7) 44,739,437 2021 7  Canada
 France
 Germany
 Italy
 Japan
 United Kingdom
 United States
Other advanced economies
(advanced economies excluding the G7)
16,308,885 2021 33  Australia
 South Korea
 Netherlands
 Spain
  Switzerland
 Taiwan
Emerging and developing Europe 11,189,072 2021 16  Poland
 Russia
 Turkey
Latin America and the Caribbean 10,555,374 2021 33  Argentina
 Brazil
 Colombia
 Mexico
Middle East and Central Asia 10,208,616 2021 32  Egypt
 Iran
 Pakistan
 Saudi Arabia
 United Arab Emirates
Sub-Saharan Africa 4,514,220 2021 45  Nigeria
 South Africa

Current world economic league table of largest economies in the world by GDP and share of global economic growth

The 25 largest economies by GDP (nominal), twenty largest economies by GDP (PPP) as of 2021. Members of the G-20 major economies are in bold.
List of the 25 largest economies
by GDP (nominal) at their peak level as of 2021 in thousands US$
[12]
List of the 25 largest economies
by GDP (PPP) at their peak level as of 2021 in thousands US$
[13]
List of the 25 economies by highest
GDP (nominal) per capita at their peak level as of 2021 in US$
List of the 25 economies by highest
GDP (PPP) per capita at their peak level as of 2021 in US$
Rank Country Value Peak year
World 94,935,114 2021
1  United States 22,939,580 2021
 European Union 19,226,235 2008
2  China 16,862,979 2021
3  Japan 6,272,364 2012
4  Germany 4,230,172 2021
5  United Kingdom 3,108,416 2021
6  India 3,021,125 2021
7  France 2,940,428 2021
8  Brazil 2,614,027 2011
9  Italy 2,408,392 2008
10  Russia 2,288,428 2013
11  Canada 2,015,983 2021
12  South Korea 1,823,852 2021
13  Spain 1,631,685 2008
14  Australia 1,610,556 2021
15  Mexico 1,315,356 2014
16  Indonesia 1,150,245 2021
17  Iran 1,081,383 2021
18  Netherlands 1,007,562 2021
19  Turkey 957,504 2013
20  Saudi Arabia 842,588 2021
21   Switzerland 810,830 2021
22  Taiwan 785,589 2021
23  Poland 655,332 2021
24  Argentina 643,861 2017
25  Sweden 622,365 2021
Rank Country Value Peak year
World 144,636,376 2021
1  China 27,071,959 2021
2  United States 22,939,580 2021
 European Union 22,825,236 2019
3  India 10,181,166 2021
4  Japan 5,633,505 2021
5  Germany 4,843,389 2021
6  Russia 4,447,477 2021
7  Indonesia 3,530,329 2021
8  Brazil 3,437,609 2021
9  France 3,322,310 2021
10  United Kingdom 3,276,143 2021
11  Turkey 2,873,841 2021
12  Italy 2,697,137 2021
13  Mexico 2,685,253 2021
14  South Korea 2,503,395 2021
15  Canada 2,027,371 2021
16  Spain 2,006,709 2019
17  Saudi Arabia 1,734,234 2021
18  Taiwan 1,443,411 2021
19  Australia 1,427,264 2021
20  Poland 1,412,297 2021
21  Egypt 1,381,057 2021
22  Iran 1,344,086 2011
23  Thailand 1,339,060 2019
24  Pakistan 1,157,480 2021
25  Vietnam 1,141,300 2021
Rank Country Value Peak year
1  Luxembourg 131,302 2021
2  Norway 102,577 2013
3  Ireland 102,394 2021
4  Qatar 101,933 2012
5   Switzerland 93,515 2021
6  Macau 86,298 2014
7  San Marino 79,110 2008
8  Iceland 75,383 2018
9  United States 69,375 2021
10  Australia 68,445 2012
11  Denmark 67,920 2021
12  Singapore 66,676 2018
13  Sweden 60,845 2013
14  Netherlands 58,015 2008
15  Finland 53,898 2008
16  Austria 53,793 2021
17  Canada 52,791 2021
18  Andorra 51,957 2011
19  Germany 50,788 2021
20  United Kingdom 50,467 2007
21  Belgium 50,413 2021
22  Israel 49,840 2021
23  Hong Kong 49,485 2021
24  Japan 49,175 2012
25  New Zealand 48,349 2021
Rank Country Value Peak year
1  Qatar 169,698 2012
2  Macau 145,947 2013
3  Luxembourg 126,569 2021
4  Ireland 111,360 2021
5  United Arab Emirates 110,145 2004
6  Singapore 107,677 2021
7  Brunei 88,312 2012
8   Switzerland 78,112 2021
9  San Marino 75,013 2008
10  Kuwait 72,736 2012
11  Norway 69,859 2021
12  United States 69,375 2021
13  Hong Kong 65,403 2021
14  Denmark 63,405 2021
15  Netherlands 61,816 2021
16  Taiwan 61,371 2021
17  Iceland 60,437 2019
18  Austria 59,406 2021
19  Andorra 58,709 2019
20  Germany 58,150 2021
21  Sweden 57,425 2021
22  Saudi Arabia 57,284 2012
23  Belgium 55,919 2021
24  Australia 55,492 2021
25  Bahrain 54,489 2012

Twenty largest economies in the world by nominal GDP

The following is a list of the twenty largest economies by nominal GDP at peak value as of the specific year according to the International Monetary Fund.[14]
Rank 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2026
1  United States  United States  United States  United States  United States  United States  United States  United States  United States  United States  United States
2  Soviet Union  Soviet Union  Japan  Japan  Japan  Japan  China  China  China  China  China
3  Japan  Japan  Soviet Union  Germany  Germany  Germany  Japan  Japan  Japan  Japan  Japan
4  West Germany  West Germany  West Germany  France  United Kingdom  United Kingdom  Germany  Germany  Germany  Germany  Germany
5  France  France  France  United Kingdom  France  China  United Kingdom  United Kingdom  United Kingdom  India  India
6  United Kingdom  United Kingdom  United Kingdom  Italy  Italy  France  France  France  France  United Kingdom  United Kingdom
7  Italy  Italy  Italy  Brazil  China  Italy  Italy  Brazil  India  France  France
8  China  Canada  Canada  China  Brazil  Canada  Brazil  Italy  Brazil  Brazil  Canada
9  Canada  China  Iran  Spain  Canada  Spain  Russia  Russia  Italy  Italy  Italy
10  Argentina  Mexico  Spain  Canada  Mexico  South Korea  India  India  Russia  Canada  Brazil
Rank 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2026
11  Spain  India  China  Iran  Spain  Brazil  Spain  Canada  Canada  Russia  South Korea
12  Mexico  Argentina  Brazil  South Korea  South Korea  Mexico  Canada  Spain  South Korea  South Korea  Russia
13  Netherlands  Spain  India  Mexico  Iran  India  Australia  Australia  Spain  Australia  Australia
14  India  Brazil  Australia  Netherlands  India  Russia  South Korea  South Korea  Australia  Spain  Spain
15  Saudi Arabia  Australia  Netherlands  Australia  Netherlands  Australia  Mexico  Mexico  Mexico  Mexico  Indonesia
16  Australia  Netherlands  Mexico  India  Russia  Netherlands  Netherlands  Turkey  Indonesia  Indonesia  Mexico
17  Brazil  Saudi Arabia  South Korea   Switzerland  Australia  Iran  Turkey  Netherlands  Turkey  Iran  Iran
18  Sweden  Iran   Switzerland  Russia   Switzerland  Turkey  Indonesia  Indonesia  Netherlands  Netherlands  Turkey
19  Belgium  Sweden  Sweden  Argentina  Argentina   Switzerland   Switzerland  Saudi Arabia  Iran  Turkey  Netherlands
20   Switzerland  Belgium  Argentina  Belgium  Taiwan  Sweden  Iran   Switzerland  Saudi Arabia  Taiwan  Taiwan

Twenty largest economies in the world by GDP (PPP)

List of twenty largest economies by GDP based on purchasing power parity at peak value as of the specific year according to the International Monetary Fund and the CIA World Factbook.[15][16]
Rank 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2026
1  United States  United States  United States  United States  United States  United States  United States  United States  China  China  China
2  Soviet Union  Soviet Union  Soviet Union  Japan  China  China  China  China  United States  United States  United States
3  Japan  Japan  Japan  China  Japan  Japan  India  India  India  India  India
4  West Germany  West Germany  West Germany  Germany  Germany  India  Japan  Japan  Japan  Japan  Japan
5  Italy  Italy  Italy  Russia  India  Germany  Germany  Germany  Germany  Germany  Germany
6  France  France  France  India  France  Russia  Russia  Russia  Russia  Russia  Russia
7  Brazil  Brazil  China  Italy  Italy  France  Brazil  Brazil  Indonesia  Indonesia  Indonesia
8  United Kingdom  United Kingdom  Brazil  France  Russia  Brazil  France  United Kingdom  Brazil  Brazil  Brazil
9  Saudi Arabia  China  United Kingdom  Brazil  Brazil  United Kingdom  United Kingdom  France  United Kingdom  France  United Kingdom
10  Mexico  India  India  United Kingdom  United Kingdom  Italy  Italy  Indonesia  France  United Kingdom  France
Rank 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2026
11  India  Mexico  Mexico  Mexico  Mexico  Mexico  Indonesia  Italy  Italy  Turkey  Turkey
12  China  Saudi Arabia  Spain  Indonesia  Indonesia  Indonesia  Mexico  Mexico  Mexico  Mexico  Mexico
13  Spain  Canada  Canada  Spain  Spain  Spain  South Korea  Turkey  Turkey  Italy  Italy
14  Canada  Spain  Indonesia  Saudi Arabia  Canada  Canada  Spain  South Korea  South Korea  South Korea  South Korea
15  Iran  Iran  Saudi Arabia  Canada  Saudi Arabia  South Korea  Saudi Arabia  Saudi Arabia  Spain  Canada  Canada
16  Indonesia  Indonesia  Iran  South Korea  South Korea  Saudi Arabia  Canada  Spain  Canada  Spain  Spain
17  Argentina  Turkey  Turkey  Turkey  Turkey  Turkey  Iran  Canada  Saudi Arabia  Saudi Arabia  Saudi Arabia
18  Poland  Australia  Australia  Iran  Iran  Iran  Turkey  Iran  Australia  Egypt  Egypt
19  Netherlands  Netherlands  South Korea  Australia  Australia  Australia  Australia  Australia  Iran  Poland  Poland
20  Turkey  Argentina  Netherlands  Thailand  Netherlands  Thailand  Taiwan  Taiwan  Thailand  Australia  Australia

Statistical indicators

Finance

Countries by total wealth (trillions USD), Credit Suisse
Countries by total wealth (trillions USD), Credit Suisse
  • GDP (GWP) (gross world product): (purchasing power parity exchange rates) – $59.38 trillion (2005 est.), $51.48 trillion (2004), $23 trillion (2002). The GWP is the combined gross national income of all the countries in the world. When calculating the GWP, add GDP of all countries. Also, GWP shows that imports and exports are equal. Because imports and exports balance exactly when considering the whole world:,[18] this also equals the total global gross domestic product (GDP). According to the World Bank, the 2013 nominal GWP was approximately US$75.59 trillion. In 2017, according to the CIA's World Factbook, the GWP was around US$80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately Int$17,500 according to the World Factbook.
  • GDP (GWP) (gross world product):[19] (market exchange rates) – $60.69 trillion (2008). The market exchange rates have increased from the 1990 to 2008. The reason for this increase is the world advancement in terms of technology.
  • GDP[20] (real growth rate): The following part shows the GDP growth rate and the expected value after one year.
    • Developed Economies. A developed country, industrialized country, more developed country (MDC), or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. The GDP of the developed countries is predicted to fall from 2.2% in 2017 to 2.0% 2018 due to the fall of dollar value.
    • Developing Countries. A developing country is a country with a less developed industrial base (industries) and a low Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. A nation's GDP per capita, compared with other nations, can also be a reference point. In general, the United Nations accepts any country's claim of itself being "developing". The GDP of the developing countries is expected to rise from 4.3% in 2017 to 4.6% in 2018 due to political stability in those countries and advancement in technology.
    • Least developed countries. The least developed countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971. This is a group of countries that are expected to improve their GDP from 4.8% in 2017 to 5.4% in 2018. The predicted growth is associated advancement in technology and industrialization of those countries for the past decade.
  • GDP – per capita: purchasing power parity – $9,300, €7,500 (2005 est.), $8,200, €6,800 (92) (2003), $7,900, €5,000 (2002)
  • World median income: purchasing power parity $1,041, €950 (1993)[21]
  • GDP – composition by sector: agriculture: 4%; industry: 32%; services: 64% (2004 est.)
  • Inflation rate (consumer prices); In economics, inflation is a general rise in the price level in an economy over a period of time, resulting in a sustained drop in the purchasing power of money. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. national inflation rates vary widely in individual cases, from declining prices in Japan to hyperinflation (In economics, hyperinflation is very high and typically accelerating inflation) in several Third World countries (2003):
  • Derivatives OTC outstanding notional amount: $601 trillion (Dec 2010) ([4])
  • Derivatives exchange traded outstanding notional amount: $82 trillion (June 2011) ([5])
  • Global debt issuance: $5.187 trillion, €3 trillion (2004), $4.938 trillion, €3.98 trillion (2003), $3.938 trillion (2002) (Thomson Financial League Tables)
  • Global equity issuance: $505 billion, €450 billion (2004), $388 billion. €320 billion (2003), $319 billion, €250 trillion (2002) (Thomson Financial League Tables)

Employment

World GDP per capita between 1500 and 2000 (log scale)
World GDP per capita between 1500 and 2000 (log scale)
World GDP per capita between 1500 and 2003
World GDP per capita between 1500 and 2003
GDP increase, 1990–1998 and 1990–2006, in major countries
GDP increase, 1990–1998 and 1990–2006, in major countries
  • Unemployment rate: 8.7% (2009 est.). 30% (2007 est.) combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%–12% unemployment.

Industries

  • Industrial production growth rate: 3% (2002 est.)

Energy

Global primary energy consumption, measured in terawatt-hours (TWh) per year
Global primary energy consumption, measured in terawatt-hours (TWh) per year
  • Yearly electricity – production: 21,080,878 GWh (2011 est.),[23] 15,850,000 GWh (2003 est.), 14,850,000 GWh (2001 est.)
  • Yearly electricity – consumption: 14,280,000 GWh (2003 est.), 13,930,000 GWh (2001 est.)
  • Oil – production: 79,650,000 bbl/d (12,663,000 m3/d) (2003 est.), 75,460,000 barrels per day (11,997,000 m3/d) (2001)
  • Oil – consumption: 80,100,000 bbl/d (12,730,000 m3/d) (2003 est.), 76,210,000 barrels per day (12,116,000 m3/d) (2001)
  • Oil – proved reserves: 1.025 trillion barrel (163 km3) (2001 est.)
  • Natural gas – production: 3,366 km3 (2012 est.),[24] 2,569 km3 (2001 est.)
  • Natural gas – consumption: 2,556 km3 (2001 est.)
  • Natural gas – proved reserves: 161,200 km3 (1 January 2002)

Cross-border

  • Yearly exports: $12.4 trillion, €11.05 trillion (2009 est.)
  • Exports – commodities: the whole range of industrial and agricultural goods and services
  • Exports – partners: US 12.7%, Germany 7.1%, China 6.2%, France 4.4%, Japan 4.2%, UK 4.1% (2008)
  • Yearly imports: $12.29 trillion, €10.95 trillion (2009 est.)
  • Imports – commodities: the whole range of industrial and agricultural goods and services
  • Imports – partners: China 10.3%, Germany 8.6%, US 8.1%, Japan 5% (2008)
  • Debt – external: $56.9 trillion, €40 trillion (31 December 2009 est.)

Gift economy

Communications

Telephones – main lines in use: 843,923,500 (2007)
4,263,367,600 (2008)

Transport

Transportation infrastructure worldwide includes:

Military

A pie chart showing global military expenditures by country for 2018, in US$ billions, according to SIPRI.
A pie chart showing global military expenditures by country for 2018, in US$ billions, according to SIPRI.
  • World military expenditure in 2018: estimated to $1.822 trillion[29]
  • Military expenditures – percent of GDP: roughly 2% of gross world product (1999).

Science, research and development

Number of scientific or technical journal article publications per million residents as of 2013.
Number of scientific or technical journal article publications per million residents as of 2013.

The Royal Society in a 2011 report stated that in terms of number of papers the share of English-language scientific research papers the United States was first followed by China, the UK, Germany, Japan, France, and Canada.[30] In 2015, research and development constituted an average 2.2% of the global GDP according to the UNESCO Institute for Statistics.[31] Metrics and rankings of innovation include the Bloomberg Innovation Index, the Global Innovation Index and the share of Nobel laureates per capita.

Resources and environment

Shown is how the global material footprint and global CO2 emissions from fossil-fuel combustion and industrial processes changed compared with global GDP.[32]
Deforestation (net loss) of tropical rainforest and woodland over time, 1750-2004
Deforestation (net loss) of tropical rainforest and woodland over time, 1750-2004
  • Forests (carbon sinks, wood, ecosystem services, ...)
    • Estimated number of trees that are net lost annually as of 2021: 10 billion[33][34]
    • Global annual deforested land in 2015–2020: 10 million hectares
    • Global annual net forest area loss in 2000–2010 : 4.7 million hectares[35]
  • Other land degradation and land- and organisms-related ecosystem disturbances
    • Soils (carbon sink, ecosystem services, food production, ...)
      • Soil erosion by water in 2012: almost 36 billion tons (based on a high resolution global potential soil erosion model developed in 2017)[36]
      • Estimated annual loss of agricultural productivity due to soil erosion: 8 billion US dollars (based on the soil erosion data)[37]
      • Soil erosion by water in 2015: approximately 43 billion tons (according to a 2020 study)[38]
      • Environmental impact of pesticides
        • Pesticide use in tonnes of active ingredient in Australia in 2016: ca. 62,500 tonnes[39]
  • Oceans (ecosystem services, food production, ...): Blue economy
  • Waste and pollution (effects of economic mechanisms, effects on ecosystem services)
    • As of 2018, about 380 million tonnes of plastic is produced worldwide each year. From the 1950s up to 2018, an estimated 6.3 billion tonnes of plastic has been produced worldwide, of which an estimated 9% has been recycled and another 12% has been incinerated with the rest reportedly being "dumped in landfills or the natural environment".[40]
    • Air pollution
      • Number of human deaths caused annually by air pollution worldwide: ca. 7 million[41][42][43]
      • Estimated global annual cost of air pollution: $5 trillion[44][45][46]
    • Microplastic pollution
      • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2014: 15 to 51 trillion particles, weighing between 93,000 and 236,000 metric tons[47]
      • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2020: 3700 microplastics per cubic meter[47]

From the scientific perspective, economic activities are embedded in a web of dynamic, interrelated, and interdependent activities that constitute the natural system of Earth. Novel application of cybernetics in decision-making (such as in decision-making related to process- and product-design and related laws) and direction of human activity (such as economic activity) may make it easier to control modern ecological problems.[48]

Historical development

Estimations of world population and GDP from a 2020 research paper[49]
Year Population
(million)
GDP per capita
(1990 $ in PPP)
GDP in billion
(1990 $ in PPP)
1000000 BCE 0.125 400 0.05
300000 BCE 1 400 0.40
25000 BCE 3.34 400 1.34
10000 BCE 4 400 1.60
5000 BCE 5 404 2.02
4000 BCE 7 409 2.87
3000 BCE 14 421 5.90
2000 BCE 27 433 11.7
1000 BCE 50 444 22.2
500 BCE 100 457 45.7
200 BCE 150 465 69.7
1 168 467 78.4
200 190 463 88.0
400 190 463 88.0
500 190 463 88.0
600 200 462 92.3
700 210 460 96.6
800 220 459 101
900 240 456 109
1000 265 453 120
1100 320 512 164
1200 360 551 198
1300 360 551 198
1400 350 541 190
1500 438 625 274
1600 556 629 350
1700 603 658 397
1820 1,042 712 741
1870 1,276 884 1,128
1900 1,563
1913 1,793 1,543 2,767
1920 1,863
1940 2,299 2,181 5,013
1950 2,528 2,104 5,318
1960 3,042 2,764 12,170
1970 3,691 3,725 13,751
1980 4,440 4,511 20,026
1990 5,269 5,149 27,133
2000 6,077 6,057 36,806
2010 6,873 7,814 53,704
2019 7,620 9,663 73,640

One example for a comparable metric other than GDP are the OECD Better Life Index rankings for different aggregative domains.

Legend
  Explained by: Housing
  Explained by: Income
  Explained by: Jobs
  Explained by: Community
  Explained by: Education
  Explained by: Environment
  Explained by: Civic engagement
  Explained by: Health
  Explained by: Life Satisfaction
  Explained by: Safety
  Explained by: Work-Life Balance
OECD Better Life Index rankings for 2016
Overall Rank
[50]
Country Housing Income Jobs Community Education Environment Civic engagement Health Life Satisfaction Safety Work-Life Balance
1  Norway
2  Australia
3  Denmark
4   Switzerland
5  Canada
6  Sweden
7  New Zealand
8  Finland
9  United States
10  Iceland
11  Netherlands
12  Germany
13  Luxembourg
14  Belgium
15  Austria
16  United Kingdom
17  Ireland
18  France
19  Spain
20  Slovenia
21  Czech Republic
22  Estonia
23  Japan
24  Slovakia
25  Italy
26  Israel
27  Poland
28  South Korea
29  Portugal
30  Latvia
31  Greece
32  Hungary
33  Russia
34  Chile
35  Brazil
36  Turkey
37  Mexico
38  South Africa

The index includes 11 comparable "dimensions" of well-being:[51]

  1. Housing: housing conditions and spendings (e.g. real estate pricing)
  2. Income: household income (after taxes and transfers) and net financial wealth
  3. Jobs: earnings, job security and unemployment
  4. Community: quality of social support network
  5. Education: education and what one gets out of it
  6. Environment: quality of environment (e.g. environmental health)
  7. Governance: involvement in democracy
  8. Health
  9. Life Satisfaction: level of happiness
  10. Safety: murder and assault rates
  11. Work-life balance

Economic studies

To promote exports, many government agencies publish on the web economic studies by sector and country. Among these agencies include the USCS (US DoC) and FAS (USDA) in the United States, the EDC and AAFC in Canada, Ubifrance in France, the UKTI in the United Kingdom, the HKTDC and JETRO in Asia, Austrade and the NZTE in Oceania. Through Partnership Agreements, the Federation of International Trade Associations publishes studies from several of these agencies (USCS, FAS, AAFC, UKTI, and HKTDC) as well as other non-governmental organizations on its website globaltrade.net.

See also

Regional economies:

Events:

Lists:

References

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External links

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