gdp projections by country

The size of its GDP in terms of purchasing power parity is $4.44 trillion, while its GDP per capita is $46,560 (18th place). Economic activity among commodity importing economies is anticipated to shrink this year despite lower oil prices, as international travel restrictions weigh on tourist visits. The economy showed recovery from the oil shock in 2016 with a 1.7% growth. Rico would fall below $100 bn. ranking, followed by Senegal (+8), Benin (+7), and Timor-Leste (+7). The country has contained its level of unemployment and it's likely to further shrink. $1 trillion, and 62 would have above $100 billion. smallest economy in both methods. The gap between the size of the two economies in terms of nominal GDP is expected to lessen by 2023; the U.S. economy is projected to grow to $24.88 trillion by 2023, followed closely by China at $19.41 trillion. The economy clocked 0.9% and 1.5% in 2016 and 2017, respectively. The size of the U.S. economy was at $20.58 trillion in 2018 in nominal terms and is expected to reach $22.32 trillion in 2020. COVID-19 will take an especially heavy humanitarian and economic toll on emerging markets and developing economies (EMDEs) with large informal sectors. Sixteen … When the economies are assessed in terms of purchasing power parity, the U.S. loses its top spot to its close competitor China. The outbreak of COVID-19 and the wide-ranging measures needed to slow its advance have precipitated an unprecedented collapse in oil demand, a surge in oil inventories, and, in March, the steepest one-month decline in oil prices on record. South Korea entered the trillion-dollar club in 2004, propelled by international trade and industrialization. In many oil exporters, growth will be significantly constrained by policy cuts in oil production. The economy shrunk by 6% during this time (between the first quarter of 2008 and the second quarter of 2009) and eventually took five years to grow back to the pre-recession levels, according to data from the Office of National Statistics. Tiger Cub economies refer to the rapidly developing countries in Southeast Asia, including Indonesia, Malaysia, Philippines, Thailand and Vietnam. The country offers a high standard of living to its people as reflected in its GDP per capita of $42,877.56. The share of agriculture in the Mexican economy has remained under 4% over the last two decades, while its industry and services contribute around 33% and 63% to its output. to 2019. The South Korean economy, known for conglomerates like Samsung and Hyundai, is the 12th largest economy in the world, with a nominal GDP of $1.62 trillion. $31 bn), Taiwan Province of China (Int. Curated by Knoema’s data analysts to deliver leading short-term and long-term indicators and forecasts from trusted sources for each of the covered industries. In 2020, the United States and China would remain the largest economy in nominal and PPP, respectively. The economy has been growing at an impressive pace since the 2000s, driven by both industry and services. Per capita GDP is a metric that breaks down a country's GDP per person and is calculated by dividing the GDP of a country by its population. ... GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. During 2017, it declined to 9.681%. world relating to economic and political issues as well as The United States is below the global figure with a 3.8 percent reduction. For individual content and infographics in your Corporate Design, The COVID-19 pandemic has struck a devastating blow to an already-fragile global economy. The rapid rise of COVID-19 cases, together with the wide range of measures to slow the spread of the virus, has slowed economic activity precipitously in many EMDEs. Informality is associated with underdevelopment in a wide range of areas, such as widespread poverty, lack of access to financial systems, deficient public health and medical resources, and weak social safety nets. Output is projected to contract by 3.2% in FY 2020/21, when the impact of the pandemic will largely hit. The COVID-19 pandemic has struck a devastating blow to an already-fragile global economy. China has experienced exponential growth over the past few decades, breaking the barriers of a centrally-planned closed economy to evolve into a manufacturing and exporting hub of the world. In addition to tourism, which remains very important for its economy, France is a leading agricultural producer, accounting for about one-third of all agricultural land within the European Union. Turkey’s economy is anticipated to shrink by 3.8% this year, subject to a drop in investment and shutdowns. We also reference original research from other reputable publishers where appropriate. Comparing 2017 vs. 2030 The country’s economy benefits from its stable political system, sound infrastructure, and favorable tax rates. The baseline forecast envisions a 5.2 percent contraction in global GDP in 2020—the deepest global recession in decades. However, over the years, the role of services has gradually increased and that of manufacturing as a contributor to GDP has declined relatively. Research, storytelling, infographics & presentation design on any topic in your corporate design. The situation worsened with the imposition of sanctions by the West. Brazil’s economy is projected to shrink by 8% due to lockdowns, plunging investment, supply chain disruptions, and soft global commodity prices. Among sectors, agriculture contributes about 14% to its GDP, while industry and services add approximately 43% each to its output. It ranks 13th on the basis of per capita income, with a GDP per capita of $53,106.38. non-commercial websites. In nominal data, China is forecast to become a $15 trillion economy in 2020. Brazil (-$475 bn), India (-$276 bn), Russia (-$238 bn), and Mexico (-$218 bn). Automotive, oil, and electronics are among the developed industries, while financial services and tourism are prominent contributors within services. Russia moves up the ladder to the sixth spot for rankings, with a $4.21 trillion GDP based on PPP. U.S. Nominal GDP: $21.44 trillion - U.S. GDP (PPP): $21.44 trillion, China Nominal GDP: $14.14 trillion - China GDP (PPP): $27.31 trillion, Japan Nominal GDP: $5.15 trillion- Japan GDP (PPP): $5.75 trillion, Germany Nominal GDP: $3.86 trillion - Germany GDP (PPP): $4.44 trillion, India Nominal GDP: $2.94 trillion-India GDP (PPP): $10.51 trillion, U.K. Nominal GDP: $2.83 trillion - U.K. GDP (PPP): $3.04 trillion, France Nominal GDP: $2.71 trillion - France GDP (PPP): $2.96 trillion, Italy Nominal GDP: $1.99 trillion - Italy GDP (PPP): $2.40 trillion, Brazil Nominal GDP: $1.85 trillion - Brazil GDP (PPP): $3.37 trillion, Canada Nominal GDP: $1.73 trillion - Canada GDP (PPP): $1.84 trillion, Russia Nominal GDP: $1.64 trillion - Russia GDP (PPP): $4.21 trillion, South Korea Nominal GDP: $1.63 trillion - South Korea GDP (PPP): $2.14 trillion, Spain Nominal GDP: $1.4 trillion - Spain GDP (PPP): $1.86 trillion, Australia Nominal GDP: $1.38 trillion - Australia GDP (PPP): $1.32 trillion, Mexico Nominal GDP: $1.22 trillion - Mexico GDP (PPP): $2.57 trillion, Indonesia Nominal GDP: $1.11 trillion - Indonesia GDP (PPP): $3.50 trillion, Netherlands Nominal GDP: $902.36 billion - Netherlands GDP (PPP): $969.23 billion, Saudi Arabia Nominal GDP: $779.29 billion - Saudi Arabia GDP (PPP): $1.86 trillion, Turkey Nominal GDP: $743.71 billion - Turkey GDP (PPP): $2.29 trillion, Switzerland Nominal GDP: $715.36 billion - Switzerland GDP (PPP): $548.48 billion, Everything You Need to Know About Per Capita and Its Uses. France is the world's sixth-largest agricultural producer and the second-largest agricultural exporter, after the United States. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: The OECD released its latest Economic Outlook today, revealing the projected impact the Covid-19 pandemic will have on global GDP in 2020. It was a victim of the Asian financial crisis in 1997. Per capita incomes in most emerging and developing economies will shrink this year. Mexico’s economy, hit by tighter financing conditions, the plunge in oil prices, the halt in tourism, and mobility restrictions, is on track to contract by 7.5%. While services are the major sector, manufacturing is the cornerstone of the economy, with 68% of its exports constituting of merchandise exports. This list is based on the IMF's World Economic Outlook Database, October 2019. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Current projections suggest that the COVID-19 global recession will be the deepest since the end of World War II, with the largest fraction of economies experiencing declines in per capita output since 1870. Canada's nominal GDP is currently at $1.71 trillion and is expected to touch $1.74 trillion in 2019 and $2.13 trillion by 2023. Canada registered a growth of 3% in 2017 vis-à-vis 1.4% in 2016 and is expected to grow 2% during 2018 and 2019. Agriculture only contributes about 1% to its GDP. The country has made incredible progress in the past couple of decades to establish itself as a hi-tech, industrialized nation. (Int. For some of them, current low oil prices provide an opportunity to implement energy-pricing policies that yield efficiency and fiscal gains over the medium term. Turkey, with its $766.43 billion economy, is the 19th-largest economy in the world. The share of Turkey's middle-class increased from 18% to 41% of the population between 1993 and 2010, according to the World Bank, and the country joined the upper-middle income group in the late 2000s. While the effects of the crisis continue, it is critical to implement effective delivery channels to quickly provide the support that informal workers and firms need to survive. Get Free Economic Indicators Charts, Historical Data and Forecasts for 196 Countries. Post-Brexit, Spain is the fourth-largest economy in the eurozone. In recent years, its growth rate has hovered between 1–1.5%. However, it has charted impressive growth ever since. Other GDP-related dashboards:Historical GDP by countryHistorical GDP per … Russia, the largest country on Earth in terms of landmass, is the 11th-largest economy in the world, with a nominal GDP of $1.63 trillion. Central America’s economy is projected to shrink by 3.6% and the Caribbean is anticipated to contract by 1.8%, and by 3.1% excluding Guyana, where the offshore oil industry is developing rapidly. The economy's strength lies in a limited dependence on exports, high saving rates, favorable demographics, and a rising middle class. The pandemic highlights the urgent need for policy action to cushion its consequences, protect vulnerable populations, and improve countries’ capacity to cope with similar future events. IMF projects the economic growth to revive to 2.5% by 2019. Iran is expected to contract 5.3%, the third year of contraction in a row. India has become the fifth-largest economy in 2019, overtaking the United Kingdom and France. In 2018, the Chinese GDP in nominal terms stood at $13.37 trillion, lower than the U.S. by $7.21 trillion. Latest official GDP figures published by the World Bank. Does Statista also create infographics in a customized design? medium-term fiscal position. The IMF projects a growth of 5.8% in 2020, which would sober down to around 5.6% by 2023. In terms of GDP (PPP), its economy is worth $2.40 trillion and it has a per capita GDP of $34,260.34. Its GDP (PPP) is at $2.14 trillion. Its unemployment rate continues to be in double-digits, while its public debt remains sticky at around 132% of GDP. COVID-19 has delivered an enormous global shock, leading to steep recessions in many countries. The 1990s were a rough period for its economy, since it inherited a devastated industrial and agricultural sector along with the fundamentals of a centrally planned economy. Check our upcoming releases. $-250 bn) would decline most. Lebanon (-28), Macao SAR (-16), Libya (-15), During 2006–2010, the nation grew at an average 4.5%, moderating to around 2.8% in 2011–2013. Beyond its short-term impact, deep recessions triggered by the pandemic are likely to leave lasting scars through multiple channels, including lower investment; erosion of the human capital of the unemployed; and a retreat from global trade and supply linkages. Out of 194 economies, gdp (nominal) of 41 economies would increase, and 153 economies would decrease in 2020 compared Participants in the informal sector—workers and small enterprises—are often not registered with the government and hence have no access to government benefits. The dependence of the Russian economy on oil was exposed during the 2008–2009 global financial crisis and eventually again in 2014. and over 1 Mio. While the economy has broken the deflationary spiral, economic growth remains muted. Like other countries, energy-exporting emerging m... Current projections suggest that the COVID-19 global recession will be the deepest since the end of World War II, with the largest fraction of economies experiencing declines in per capita output since 1870. $769 bn), Egypt (Int. COVID-19 is expected to lead to the deepest global recession in decades, with baseline forecasts envisioning a 5.2 percent contraction in global activity this year. The country offers a very high standard of living for its people, represented by the GDP per capita of $82,950.28, which is only behind Luxembourg. While the ultimate outcome is still uncertain, the pandemic will result in contractions across the vast majority of emerging market and developing economies. In India, growth is estimated to have slowed to 4.2% in FY 2019/20, which ended in March 2020. The Russian Federation’s economy is forecast to contract by 6.0% this year, reflecting a jump in COVID-19 cases and the collapse in oil prices. Click on the button to download data into Excel. please visit our agency website, Your contact to the Infographics Newsroom, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, impact the Covid-19 pandemic will have on global GDP, Stocks Jump on Vaccine Hopes as Pandemic Winners Plummet, World Currencies Gain Against U.S. Dollar After Biden Win, Jobs Report Reveals Long Climb Back to Pre-Pandemic State, UK Covid-19 patients in mechanical ventilation beds, Majority of Border Arrests are Single Adults, COVID-19 Cases per Million Inhabitants: A Comparison, Our infographics team prepares current information in a clear and understandable format, Relevant facts covering media, economy, e-commerce, and FMCG topics, Use our newsletter overview to manage the topics that you have subscribed to. Update, Insights into the world's most important technology markets, Advertising & Media Outlook When the economy was beginning to recover, it suffered a massive earthquake that hit the country socially and economically. Switzerland is one of the most stable market economies in the world. Today, the country has a nominal GDP of $912.90 billion and a GDP-PPP of $969.23 billion. Back in 1980, China was the seventh-largest economy, with a GDP of $305.35 billion, while the size of the U.S. then was $2.86 trillion. Although agriculture is not a major contributor to its GDP, 60% of the U.K.'s food needs are produced domestically, even though less than 2% of its labor force is employed in the sector. Today, the country has a nominal GDP of $912.90 billion and a GDP-PPP of $969.23 billion. The $1.4 trillion Spanish economy is the 13th-largest in the world. The economy registered a 7.4% growth in 2017. Despite these measures, per capita incomes in all EMDE regions are expected to contract in 2020, likely causing many millions to fall back into poverty. Adding further context, the OECD writes: "After collapsing in the first half of the year, economic output recovered swiftly following the easing of measures to contain the COVID-19 pandemic and the initial re-opening of businesses. Industrial commodity exporters’ GDP is similarly anticipated to contract in 2020 as domestic disruptions are compounded by low prices for oil and metals. Although the contribution of its agricultural sector has declined to around 17%, it still is way higher in comparison to the western nations. share of the global economy, while the smallest economy GDP helps to provide a snapshot of a country’s economy and can be calculated using … Japan slips to the fourth spot when GDP is measured in terms of PPP; GDP (PPP) is $5.75 trillion in 2019, while its GDP per capita is $40,850 (24th spot). The economy, which slumped by 0.9% in 2017, is expected to grow by 1.9% in 2018 and 2019. Germany was the third-largest economy in nominal terms in 1980, with a GDP of $850.47 billion. To bolster its manufacturing strength in the current global scenario, Germany has launched Industrie 4.0—its strategic initiative to establish the country as a lead market and provider of advanced manufacturing solutions. facts. The Indian economy was just $189.438 billion in 1980, ranking 13th on the list globally. Are you sure you want to delete this page? This site uses cookies to optimize functionality and give you the best possible experience. (Int. The data on GDP by country from the World Bank presented on this page covers the period for the last half of the century. The economy has grown at a healthy pace for the past two decades on the back of low unemployment, low public debt and inflation, robust exports, a strong service sector, and a stable financial system. When it comes to calculating GDP per capita, India's high population drags its nominal GDP per capita down to $2,170. Over the past four decades, South Korea has demonstrated incredible economic growth and global integration to become an industrialized economy. The country is looking to bolster its non-oil economy in order to diversify its economy and tackle the problem of unemployment. The economy of Nigeria is expected to shrink by 3.2% this year, given the collapse in prices for oil. Statista offers daily infographics about trending topics, covering:Economy & Finance, Politics & Society, Tech & Media, Health & Environment, Consumer, Sports and many more. Our Insights blog presents deep data-driven analysis and visual content on important global issues from the expert data team at Knoema. These include white papers, government data, original reporting, and interviews with industry experts. Tuvalu contributes only to only 0.00005 percent. Like other countries, energy-exporting emerging market and developing economies (EMDEs) face an unprecedented public health crisis, but their fiscal positions were already strained even before the recent collapse in oil revenues. Switzerland has a booming tourism industry and a strong financial sector. GRAVITON | Insights from Apple's Financial Statements, RIWI | Chinese More Optimistic About Financial Futures Than are Americans. This is an alphabetical list of countries by past and projected gross domestic product (nominal) as ranked by the IMF. The gradual nature of forecast downg... COVID-19 will take an especially heavy humanitarian and economic toll on emerging markets and developing economies (EMDEs) with large informal sectors. Get Free Economic Indicators Charts, Historical Data and Forecasts for 196 Countries. World's GDP is $80,934,771,028,340 (nominal, 2017).. See also: GDP per Capita World and regional statistics, national data, maps and rankings, Discover new signals and insights from leading alternative and fundamental data providers, Latest releases of new datasets and data updates from different sources around the world. World Bank national accounts data, and OECD National Accounts data files. Economic activity in Argentina is forecast to decline by 7.3%, reflecting stringent mitigation measures, lower external demand, and the impacts of uncertainty related to ongoing debt negotiations. In ppp data, 26 economies would have gdp above Int. sports and entertainment. $1,000 bn are the Netherlands, the Philippines, and Argentina. The rapid rise of COVID-19 cases, together with the wide range of measures to slow the spread of the virus, has slowed economic activity precipitously in many emerging market and developing economies (EMDEs). and displayed without charge by all commercial and It ranks as the largest exporter of petroleum, with the oil and gas sectors accounting for about 50% of its GDP and 70% of its export earnings. It is also critical to address the challenges posed by informality and limited safety nets and undertake reforms that enable strong and sustainable growth. 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 Historical GDP by Country | Statistics from the World Bank | 1960-2018. Libya would fall by huge 37 spots, followed by Macao SAR (-21). Our tools allow individuals and organizations to discover, visualize, model, and present their data and the world’s data to facilitate better decisions and better outcomes. Find Out . Today, its service sector is the fastest-growing sector in the world, contributing to more than 60% to its economy and accounting for 28% of employment. Per capita is a Latin term that translates to "by head" and that is interpreted as meaning per person. On the global scale, it is the fourth-largest economy in terms of nominal GDP, with a $4 trillion GDP. The nation that had been riding on the commodity wave suffered multiple setbacks with the end of the commodity supercycle, in addition to internal problems of corruption and political uncertainty, which dampened the investment and business environment. India’s post-independence journey began as an agrarian nation; however, over the years the manufacturing and services sector has emerged strongly. on two sectors: "Media and Technology", updated Find Out . The World Bank has recorded unemployment rates at 10% during 2014, 2015, and 2016. The economy expanded by 2.9% and 2% during 2016 and 2017. The economy is backed by abundant natural resources, booming tourism, and sound industries like food processing, chemicals, electrical machinery, and petroleum refining. Find Out, Online tool for visualization and analysis. Latest official GDP figures published by the World Bank. Agricultural commodity exporters are also expected to experience a collapse in economic activity this year as foreign direct investment and tighter financial conditions delay investment. Zimbabwe (13), and Venezuela (-10) would lose most in the ranking. Economic activity in the rest of East Asia and Pacific is forecast to contract by 1.2 percent in 2020 before rebounding to 5.4 percent in 2021. Washington, DC 20433 USA. The same are expected to touch $1.50 trillion and $3.18 trillion, respectively, by 2023. The financial crisis of 2008 rocked the Japanese economy and it's been a challenging time for its economy since then. Informality is associated with underdevelopment in a wide range of areas, such as widespread poverty, lack of access to financial systems, deficient public health and medical resources, and weak social safety nets. In the table below, countries are ranked by the gross domestic product measured in purchasing power parities (PPP) at current prices. Despite these measures, per capita incomes in all EMDE regions are expected to contract in 2020, likely causing many millions to fall back into poverty. China is expected to slow to 1% this year and rebound to 6.9 percent in 2021 as activity gradually normalizes there and as lockdowns are lifted around the world. Restoring confidence will be crucial to how successfully economies can recover, and for this we need to learn to safely live with the virus.". In nominal data, China is forecast to become a $15 trillion economy in 2020. Mexico, the second-largest economy in Latin America, is the 15th-largest economy in the world, with a nominal GDP of $1.22 trillion, while its GDP in terms of PPP is $2.57 trillion. Policymakers reacted rapidly and massively to buffer the initial blow to incomes and jobs. Comparing 2017 vs. 2030 By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. are the top improvers in ppp ranking. Italy—a prominent member of the eurozone—has been facing deep political and economic chaos. China (Int. Gross domestic product (GDP) is the monetary value of all finished goods and services made within a country during a specific period. New, Figures and insights about the advertising and media world, Industry Outlook GDP in the region is projected to contract by 2.7% in 2020 as pandemic mitigation measures hinder consumption and services activity and uncertainty about the course of the pandemic chills private investment. 1818 H Street, N.W. Use is, however, only permitted with have an economy of greater than Int. The World Bank. Its per capita GDP of $46,260.71 is ranked 20th globally, while its GDP of $1.84 trillion in terms of PPP pulls it down to the 17th spot. The outbreak of COVID-19 and the wide-ranging measures needed to slow its advance have precipitated an unprecedented collapse in oil demand, a surge in oil inventories, and, in March, the steepest one-month decline in oil prices on record. When compared in terms of GDP purchasing-power-parity, U.K. slips to the ninth spot with a GDP-PPP of $3.04 trillion. The regional economy is forecast to contract by 4.7%, with recessions in nearly all countries. Pakistan (-2.6% in FY 2019/20) and Afghanistan (-5.5%) are both projected to experience contractions, as mitigation measures are anticipated to weigh heavily on activity. Looking at the GDP figures... How Deep an Economic Decline Can the World Expect in 2020?

île à Vendre Turquie, Comment Faire Une Analyse Marketing, Comment Retrouver Une Publication Sur Facebook, Contraire De Emmêler, Mathématique Générale Terminale G2 Pdf,