Global economy

Global economy

Economy of the world
Statistics
Population 7.095 billion (July 2013 est.)[1]
GDP Nominal: US$71.83 trillion (2012 est.)[1]
PPP: US$84.97 trillion (2012 est.)[1]
GDP growth 3% (2012)
GDP per capita Nominal: US$7,178
PPP: US$12,700 (2012 est.)
Millionaires (US$) ~10 million i.e. ~0.15% (2009)
Billionaires (US$) 1,011 (2010)[2]
People paid below US$2 per day ~3.25 billion (~50%)
Unemployment 9% (2012 est.)
note: 30% combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%-12% unemployment (2007 est.)

During 2012 unless otherwise stated. Trailing-ten-years. Most numbers are from The World Factbook for 2012, some numbers exclude certain countries for lack of information.

All values, unless otherwise stated, are in US dollars

The world economy, or global economy, generally refers to the economy, which is based on economies of all of the world's countries' national economies. Also global economy can be seen as the economy of global society and national economies – as economies of local societies, making the global one. It can be evaluated in various kind of ways. For instance, depending on the model used, the valuation that is arrived at can be represented in a certain currency, such as 2006 US dollars.

It is inseparable from the geography and ecology of Earth, and is therefore somewhat of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a minimum exclude any consideration of resources or value based outside of the Earth. For example, while attempts could be made to calculate the value of currently unexploited mining opportunities in unclaimed territory in Antarctica, the same opportunities on Mars would not be considered a part of the world economy—even if currently exploited in some way—and could be considered of latent value only in the same way as uncreated intellectual property, such as a previously unconceived invention. Beyond the minimum standard of concerning value in production, use, and exchange on the planet Earth, definitions, representations, models, and valuations of the world economy vary widely.

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 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 US 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 7.01 billion people have most of their economic activity reflected in these valuations.

In 2011, the largest economies in the world with more than $2 trillion, €1.25 trillion by nominal GDP were the United States, China, Japan, Germany, France, the United Kingdom, Brazil, Russia, and Italy. The largest economies in the world with more than $2 trillion, €1.25 trillion by GDP (PPP) are the United States, China, India, Japan, Germany, Russia, the United Kingdom, Brazil, and France.

Economy – overview


Twenty Largest Economies in the World by GDP at Given Years

The following is a list of the twenty largest economies by nominal GDP at a specific year according to International Monetary Fund.

IMF GDP Figures[3]
Rank 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015
1  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  Japan  Japan  China  China
3  West Germany  Japan  Soviet Union  Soviet Union  West Germany  Germany  Germany  Germany  Japan  Japan
4  Japan  West Germany  West Germany  West Germany  France  France  United Kingdom  United Kingdom  Germany  Germany
5  France  France  France  France  Italy  United Kingdom  France  China  France  France
6  United Kingdom  United Kingdom  United Kingdom  United Kingdom  United Kingdom  Italy  China  France  United Kingdom  United Kingdom
7  Italy  Italy  Italy  Italy  Soviet Union  Brazil  Italy  Italy  Brazil  Russia
8  China  Canada  Canada  Canada  Canada  China  Canada  Canada  Italy  Brazil
9  Canada  China  China  China  Spain  Spain  Brazil  Spain  India  Italy
10  India  Brazil  Spain  India  Brazil  Canada  Mexico  Brazil  Canada  Canada
Rank 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015
11  Australia  Spain  Mexico  Brazil  China  South Korea  Spain  Mexico  Russia  India
12  Spain  Australia  Brazil  Mexico  Australia  Netherlands  South Korea  South Korea  Spain  Australia
13  Mexico  India  India  Australia  India  Australia  India  India  Australia  Mexico
14  Brazil  Mexico  Netherlands  Spain  Netherlands  Russia  Australia  Russia  Mexico  Spain
15  Sweden  Netherlands  Saudi Arabia  Netherlands  Mexico  India  Netherlands  Australia  South Korea  South Korea
16  Netherlands  Sweden  Australia  Iran  South Korea   Switzerland  Taiwan  Netherlands  Netherlands  Turkey
17  Argentina  Belgium  Sweden  Sweden  Sweden  Mexico  Argentina  Turkey  Turkey  Indonesia
18  Poland   Switzerland  Belgium  Saudi Arabia   Switzerland  Belgium  Turkey  Belgium  Indonesia  Netherlands
19  Belgium  Turkey  Argentina   Switzerland  Belgium  Republic of China  Russia   Switzerland   Switzerland  Saudi Arabia
20  Turkey  Argentina   Switzerland  South Korea  Turkey  Argentina   Switzerland  Sweden  Saudi Arabia   Switzerland

The following is a list of twenty largest economies by GDP (PPP) at a specific year according to International Monetary Fund[4] and the World Bank.[5][6]

Rank 1980 1985 1990 1995 2000 2005 2010 2015
1  United States  United States  United States  United States  United States  United States  United States  United States
2  Soviet Union  Soviet Union  Soviet Union  Japan  Japan  China  China  China
3  Japan  Japan  Japan  China  China  Japan  Japan  India
4  West Germany  West Germany  West Germany  Germany  Germany  Germany  India  Japan
5  France  France  France  France  India  India  Germany  Germany
6  Italy  Italy  Italy  United Kingdom  France  United Kingdom  Russia  Russia
7  United Kingdom  United Kingdom  United Kingdom  Italy  United Kingdom  France  United Kingdom  Brazil
8  Brazil  Brazil  China  India  Italy  Russia  Brazil  United Kingdom
9  Mexico  China  Brazil  Brazil  Brazil  Italy  France  France
10  India  India  India  Russia  Russia  Brazil  Italy  Mexico
Rank 1980 1985 1990 1995 2000 2005 2010 2015
11  Spain  Mexico  Mexico  Mexico  Mexico  Mexico  Mexico  Italy
12  Canada  Canada  Spain  Spain  Spain  Spain  South Korea  South Korea
13  China  Spain  Canada  Canada  Canada  Canada  Canada  Canada
14  Saudi Arabia  Australia  South Korea  South Korea  South Korea  South Korea  Spain  Indonesia
15  Netherlands  Iran  Turkey  Indonesia  Turkey  Turkey  Indonesia  Spain
16  Poland  Turkey  Australia  Turkey  Australia  Indonesia  Turkey  Turkey
17  Australia  Netherlands  Netherlands  Australia  Indonesia  Australia  Iran  Australia
18  Argentina  Poland  Indonesia  Netherlands  Netherlands  Iran  Australia  Iran
19  Iran  South Korea  Iran  Iran  Taiwan  Taiwan  Taiwan  Saudi Arabia
20  Turkey  Indonesia  Poland  Taiwan  Iran  Netherlands  Saudi Arabia  Taiwan

1980 – 1990 - European Union, United States and Japan lead expansion

At exchange rates, the economic output of 112 markets expanded by $10.7 trillion from 1980 to 1990. The economic output of 34 markets contracted by $276.9 billion from 1980 to 1990. The five largest contributors to global output contraction are Argentina at 24%, Saudi Arabia at 17%, Nigeria at 11%, Venezuela at 8%, and Vietnam at 8%. At purchasing power parity, the economic output of 145 markets expanded by $12.1 trillion from 1980 to 1990. The economic output of 2 markets contracted by $3.5 billion from 1980 to 1990. The two contributors to global output contraction are Lebanon at 70% and Libya at 30%. The following two tables are lists of twenty largest economies by incremental GDP from 1980 to 1990 by International Monetary Fund.

List of Economies by Incremental Nominal GDP from 1980 to 1990[7] List of Economies by Incremental GDP (PPP) from 1980 to 1990[8]
Rank Country Incremental GDP (billions of US$) Share of Global Incremental GDP
  World 11,490.451 100.00%
 European Union 3,392.636 29.53%
1  United States 3,117.075 27.13%
2  Japan 2,016.711 17.55%
3  Germany 720.884 6.27%
4  Italy 670.195 5.83%
5  France 556.091 4.84%
6  United Kingdom 482.106 4.20%
7  Canada 320.242 2.79%
8  Brazil 316.089 2.75%
9  Spain 296.047 2.58%
10  South Korea 206.020 1.79%
11  Australia 160.912 1.40%
12  India 137.490 1.20%
13   Switzerland 131.499 1.14%
14  Taiwan 122.749 1.07%
15  Netherlands 118.373 1.03%
16  Sweden 111.615 0.97%
17  Turkey 108.288 0.94%
18  China 86.914 0.76%
18  Finland 86.180 0.75%
20  Austria 85.059 0.74%
Remaining Countries 1,639.912 14.27%
Rank Country Incremental GDP (billions of US$) Share of Global Incremental GDP
  World 12,326.006 100.00%
 European Union 3,161.584 25.65%
1  United States 3,117.075 25.29%
2  Japan 1,374.138 11.15%
3  Germany 683.343 5.54%
4  China 663.904 5.39%
5  France 489.393 3.97%
6  India 468.430 3.80%
7  United Kingdom 466.554 3.79%
8  Italy 466.268 3.78%
9  Brazil 339.445 2.75%
10  Mexico 285.770 2.32%
11  Canada 279.257 2.27%
12  Spain 278.857 2.26%
13  South Korea 248.352 2.01%
14  Turkey 175.242 1.42%
15  Indonesia 169.345 1.37%
16  Australia 159.607 1.29%
17  Taiwan 137.532 1.12%
18  Netherlands 132.180 1.07%
19  Iran 132.023 1.07%
20  Thailand 113.339 0.92%
Remaining Countries 2,145.952 17.41%

1990 – 2000 - United States dominates expansion

At exchange rates, the economic output of 122 markets expanded by $10.7 trillion from 1990 to 2000. The economic output of 29 markets contracted by $94.2 billion from 1990 to 2000. The five largest contributors to global output contraction are Italy at 37%, Finland at 18%, Bulgaria at 9%, Algeria at 8%, and the Democratic Republic of Congo at 5%.

At purchasing power parity, the economic output of 148 markets expanded by $16.9 trillion from 1990 to 2000. The economic output of 3 markets contracted by $17.8 billion from 1990 to 2000. The three contributors to global output contraction are Bulgaria at 64%, the Democratic Republic of Congo at 29% and Sierra Leone at 7%.

List of Economies by Incremental Nominal GDP from 1990 to 2000[7] List of Economies by Incremental GDP (PPP) from 1990 to 2000[8]
Rank Country Incremental GDP (billions of US$) Share of Global Incremental GDP
  World 10,321.649 100.00%
1  United States 4,310.175 41.76%
2  Japan 1,627.500 15.77%
 European Union 1,492.890 14.46%
3  China 808.198 7.83%
4  United Kingdom 472.048 4.57%
5  Mexico 393.570 3.81%
6  Germany 344.908 3.34%
7  South Korea 262.980 2.55%
8  Brazil 179.730 1.74%
9  Taiwan 161.188 1.56%
10  India 147.296 1.43%
11  Canada 144.839 1.40%
12  Argentina 143.064 1.39%
13  Poland 109.179 1.06%
14  Hong Kong 93.621 0.91%
15  Netherlands 90.634 0.88%
16  France 82.871 0.80%
17  Saudi Arabia 78.115 0.76%
18  Australia 75.803 0.73%
19  Israel 71.080 0.69%
20  Venezuela 68.753 0.67%
Remaining Countries 656.097 6.36%
Rank Country Incremental GDP (billions of US$) Share of Global Incremental GDP
  World 19,059.703 100.00%
1  United States 4,310.175 22.61%
 European Union 3,925.599 20.60%
2  China 2,105.840 11.05%
3  Japan 881.303 4.62%
4  India 828.723 4.35%
5  Germany 695.317 3.65%
6  United Kingdom 599.501 3.15%
7  France 503.722 2.64%
8  Mexico 454.921 2.39%
9  Brazil 447.138 2.35%
10  South Korea 440.060 2.31%
11  Italy 426.358 2.24%
12  Canada 351.360 1.84%
13  Spain 348.118 1.83%
14  Taiwan 250.799 1.32%
15  Indonesia 223.872 1.17%
16  Turkey 221.194 1.16%
17  Australia 219.108 1.15%
18  Netherlands 190.887 1.00%
19  Iran 190.056 1.00%
20  Poland 173.021 0.91%
Remaining Countries 5,198.230 27.27%

2000 – 2010 – Rise of Developing and Emerging Economies

2000 – 2006 – United States still leads, but China is catching up

At exchange rates, the economic output of 176 markets expanded by $17.4 trillion from 2000 to 2006. The five largest contributors to global output expansion are the United States at 20%, China at 9%, Germany at 6%, the United Kingdom at 6%, and France at 5%. The economic output of 4 markets contracted by $94.2 billion from 2000 to 2006. The three largest contributors to global output contraction are Japan at 80%, Argentina at 19%, and Uruguay at 1%.

At purchasing power parity, the economic output of 180 markets expanded by $19.2 trillion from 2000 to 2006. The five largest contributors to global output expansion are the United States at 18%, China at 17%, India at 6%, Japan at 5%, and Russia at 4%.

2007 – China leads expansion

The economic output by nominal GDP of 183 markets expanded by $6.4 trillion during 2007. China accounted for 12% while the United States accounted for 10%, Germany accounted for 6%, and the United Kingdom accounted for 6% of the global output expansion.

2008 – credit crisis begins

The economic output of 171 markets expanded by $5.8 trillion during 2008. China accounted for one-sixth of the global output expansion. The economic output of 11 markets contracted by $267 billion during 2008. The United Kingdom accounted for one-half while South Korea accounted for two-fifth of the global output contraction. Though the crisis first affected most countries in 2008, it was not yet deep enough to reverse growth.

2009 – credit crisis spreads

At exchange rates, the economic output of 127 markets contracted by $4.1 trillion during 2009. The United Kingdom was the largest victim accounting for 12% while Russia accounted for 11% and Germany accounted for 8% of the global output contraction. The economic output of 56 markets expanded by $767.1 billion during 2009. China accounted for 61% while Japan accounted for 20% and Indonesia accounted for 4% of the global output expansion.

At purchasing power parity, the economic output of 79 markets contracted by $1.4 trillion during 2009. The United States was the largest victim accounting for 18% while Japan accounted for 17% and Russia accounted for 10% of the global output contraction. The economic output of 104 markets expanded by $1.5 trillion during 2009. China accounted for 56% while India accounted for 17% and Indonesia accounted for 3% of the global output expansion.

2010 – recovery

At exchange rates, the economic output of 148 markets expanded by $5.3 trillion during 2010. The five largest contributors to global output expansion are China at 17%, the United States at 10%, Brazil at 9%, Japan at 8%, and India at 5%. The economic output of 35 markets contracted by $338.5 billion during 2010. The five largest contributors to global output contraction are France at 22%, Italy at 18%, Spain at 17%, Venezuela at 10%, and Germany at 7%.

At purchasing power parity, the economic output of 169 markets expanded by $4.2 trillion during 2010. The five largest contributors to global output expansion are China at 25%, the United States at 13%, India at 10%, Japan at 5%, and Brazil at 4%. The economic output of 14 markets contracted by $17.8 billion during 2010. The five largest contributors to global output contraction are Greece at 67%, Venezuela at 19%, Romania at 5%, Haiti at 3%, and Croatia at 2%.

IMF's economic outlook for 2010 noted that banks faced a "wall" of maturing debt, which presents important risks for the normalization of credit conditions. There has been little progress in lengthening the maturity of their funding and, as a result, over $4 trillion in debt is due to be refinanced in the next 2 years.[9]`

While there have been some encouraging signs of economic recovery, especially in the United States, the global economic growth seems to be losing momentum. According to the IMF's World Economic Outlook report puplished in April 2012, "global growth is projected to drop from about 4 percent in 2011 to about 3½ percent in 2012 because of weak activity during the second half of 2011 and the first half of 2012."[10]

The following two tables are lists of twenty largest economies by incremental GDP from 2000 to 2010 by International Monetary Fund.

List of Economies by Incremental Nominal GDP from 2000 to 2010[11] List of Economies by Incremental GDP (PPP) from 2000 to 2010[12]
Rank Country Incremental GDP (billions of US$) Share of Global Incremental GDP
  World 31,136.426 100.00%
 European Union 7,827.142 25.03%
1  China 4,731.916 15.13%
2  United States 4,668.575 14.93%
3  Brazil 1,498.171 4.79%
4  Germany 1,418.666 4.54%
5  Russia 1,265.213 4.05%
6  France 1,239.598 3.96%
7  India 1,236.427 3.95%
8  Italy 951.942 3.04%
9  Canada 874.621 2.80%
10  Australia 847.620 2.71%
11  Spain 805.379 2.58%
12  United Kingdom 800.324 2.56%
13  Japan 764.188 2.44%
14  Indonesia 544.522 1.74%
15  South Korea 481.505 1.54%
16  Turkey 464.584 1.49%
17  Netherlands 392.403 1.25%
18  Mexico 354.682 1.13%
19  Saudi Arabia 332.003 1.06%
20  Iran 322.678 1.03%
Remaining Countries 7,276.838 23.27%
Rank Country Incremental GDP (billions of US$) Share of Global Incremental GDP
  World 32,233.279 100.00%
1  China 7,020.396 21.78%
2  United States 4,668.575 14.48%
 European Union 4,582.380 14.22%
3  India 2,547.610 7.90%
4  Russia 1,099.522 3.41%
4  Japan 1,090.543 3.38%
6  Brazil 931.130 2.89%
7  Germany 778.957 2.42%
8  United Kingdom 686.257 2.13%
9  South Korea 678.554 2.11%
10  France 579.300 1.80%
11  Indonesia 523.852 1.63%
12  Mexico 515.773 1.60%
13  Iran 504.007 1.56%
14  Spain 457.441 1.42%
15  Canada 448.289 1.39%
16  Turkey 448.285 1.39%
17  Saudi Arabia 381.504 1.18%
18  Italy 377.037 1.17%
19  Taiwan 364.863 1.13%
20  Australia 346.229 1.07%
Remaining Countries 7,785.155 24.15%

2010 – 2018 China will lead economic growth.

At exchange rates, the economic output of the world is expected to expand by US$32.9 trillion, €24.2 trillion from 2010 to 2018.[13] The following two tables are predictive lists of the fifty largest economies by incremental GDP from 2010 to 2018 by International Monetary Fund.

Predictive List of Economies by Incremental Nominal GDP from 2010 to 2018[14] Predictive List of Economies by Incremental GDP (Purchasing Power Parity) from 2010 to 2018[15]
Rank Country Incremental GDP (billions of US$) Share of Global Incremental GDP
  World 32,913.442 100.0%
1  China 7,830.042 23.8%
2  United States 6,597.747 20.0%
 European Union 5,087.288 15.5%
3  Russia 1,485.506 4.5%
4  Germany 1,049.990 3.2%
5  United Kingdom 948.014 2.9%
6  France 852.582 2.6%
7  India 770.178 2.3%
8  South Korea 687.225 2.1%
9  Mexico 683.073 2.1%
10  Canada 659.747 2.0%
11  Brazil 587.327 1.8%
12  Turkey 548.681 1.7%
13  Indonesia 502.439 1.5%
14  Australia 454.563 1.4%
15  Japan 448.003 1.4%
16  Italy 436.205 1.3%
17  Saudi Arabia 344.166 1.0%
18  Taiwan 268.650 0.8%
19  Sweden 262.421 0.8%
20  Kazakhstan 249.016 0.8%
21  Thailand 239.043 0.7%
22  Argentina 221.525 0.7%
23  Philippines 220.934 0.7%
24  Poland 217.003 0.7%
25  Colombia 210.354 0.6%
26   Switzerland 207.660 0.6%
27  Iraq 206.191 0.6%
28  Nigeria 204.979 0.6%
29  Malaysia 195.932 0.6%
30  Egypt 191.337 0.6%
31  Hong Kong 190.644 0.6%
32  Netherlands 190.565 0.6%
33  Chile 189.869 0.6%
34  Norway 189.207 0.6%
35  Spain 189.085 0.6%
36  United Arab Emirates 180.201 0.5%
37  Vietnam 155.839 0.5%
38  Peru 151.172 0.5%
39  Austria 146.880 0.4%
40  Qatar 141.986 0.4%
41  Belgium 140.055 0.4%
42  Venezuela 132.530 0.4%
43  Israel 125.696 0.4%
44  Bangladesh 124.576 0.4%
45  Singapore 116.878 0.4%
46  Pakistan 112.423 0.3%
47  Ukraine 103.589 0.3%
48  South Africa 101.087 0.3%
49  Finland 98.848 0.3%
50  Kuwait 87.732 0.3%
Remaining Countries 2,264.047 6.9%
Rank Country Incremental GDP (billions of US$) Share of Global Incremental GDP
  World 40,836.598 100.0%
1  China 10,690.136 26.2%
2  United States 6,597.747 16.2%
 European Union 4,204.635 10.3%
3  India 3,268.449 8.0%
4  Japan 1,172.100 2.9%
5  Russia 1,111.666 2.7%
6  Brazil 956.990 2.3%
7  Germany 871.700 2.1%
8  Indonesia 861.507 2.1%
9  Mexico 813.409 2.0%
10  South Korea 772.854 1.9%
11  United Kingdom 700.317 1.7%
12  Turkey 621.557 1.5%
13  France 597.199 1.5%
14  Canada 516.214 1.3%
15  Saudi Arabia 516.130 1.3%
16  Taiwan 436.545 1.1%
17  Australia 399.999 1.0%
18  Nigeria 362.535 0.9%
19  Thailand 356.800 0.9%
20  Argentina 335.061 0.8%
21  Italy 325.093 0.8%
22  Poland 321.882 0.8%
23  Malaysia 314.556 0.8%
24  Philippines 292.696 0.7%
25  Colombia 283.530 0.7%
26  Pakistan 277.516 0.7%
27  Iran 260.025 0.6%
28  South Africa 250.091 0.6%
29  Egypt 238.061 0.6%
30  Bangladesh 235.712 0.6%
31  Peru 230.037 0.6%
32  Spain 226.726 0.6%
33  Vietnam 226.452 0.6%
34  Iraq 207.852 0.5%
35  Hong Kong 192.403 0.5%
36  Chile 187.485 0.5%
37  Netherlands 158.956 0.4%
38  Kazakhstan 157.327 0.4%
39  Singapore 156.479 0.4%
40  Venezuela 154.305 0.4%
41  Qatar 146.819 0.4%
42  Sweden 129.816 0.3%
43  Algeria 128.925 0.3%
44  United Arab Emirates 128.024 0.3%
45  Israel 124.131 0.3%
46   Switzerland 111.983 0.3%
47  Belgium 103.549 0.3%
48  Romania 102.846 0.3%
49  Austria 101.842 0.2%
50  Morocco 101.523 0.2%
Remaining Countries 3,001.041 7.3%

Statistical indicators

Economy

  • GDP (GWP) (gross world product): (purchasing power parity exchange rates) – $59.38 trillion (2005 est.), $51.48 trillion (2004), $23 trillion (2002)
  • GDP (GWP) (gross world product):[16] (market exchange rates) – $60.69 trillion (2008)
  • GDP – real growth rate: 3.2% (2008), 3.1% p.a. (2000–07), 2.4% p.a. (1990–99), 3.1% p.a. (1980–89)
  • 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)[17]
  • GDP – composition by sector: agriculture: 4%; industry: 32%; services: 64% (2004 est.)
  • Inflation rate (consumer prices): developed countries 1% to 4% typically; developing countries 5% to 60% typically; national inflation rates vary widely in individual cases, from declining prices in Japan to hyperinflation in several Third World countries (2003)
  • [7])
  • [8])
  • 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


  • 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

  • Yearly electricity – production: 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: 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, €8.75 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, €9 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:

  • Airports
    • Total: 49,973 (2004)
  • Roadways (in kilometres)
    • Total: 32,345,165 km
    • Paved: 19,403,061 km
    • Unpaved: 12,942,104 km (2002)
  • Railways

Military

  • World military expenditure in 2012: estimated to $1.756 trillion [20]
  • Military expenditures – percent of GDP: roughly 2% of gross world product (1999).

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, EDC and AAFC in Canada, Ubifrance in France, UKTI in the UK, HKTDC and JETRO in Asia, Austrade and NZTE in Oceania. Through Partnership Agreements, The Federation of International Trade Associations publishes studies from several of these agencies (USCS, FAS, AAFC, UKTI, HKTDC), as well as other non-governmental organizations on its website GlobalTrade.net.

See also

Regional economies:

Events:

Lists:

References

External links

  • OECD – Economic Outlook
  • IMF – World Economic Outlook
  • UN DESA – World Economy publications
  • CIA – The World Factbook – World
  • Career Education for a Global Economy
  • BBC News Special Report – Global Economy
  • Guardian Special Report – Global Economy

This article was sourced from Creative Commons Attribution-ShareAlike License; GNU Free Documentation License; additional terms may apply; additional licensing terms may not be displayed on the current page, please review the citiational source for the most up to date information. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.


Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.


By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia is a registered trademark of the World Public Library Association, a non-profit organization.