Published by eNewsWithoutBorders.com │Sept. 15, 2019
The latest estimate from the World Bank puts global GDP at roughly $86 trillion in nominal terms for 2018, up 6.9% from the previous year’s global GDP of $80.2 trillion USD. The visualization above from Howmuch.net uses data from the World Bank, released in July 2019, to visualize the entire global economy by GDP in 2018.
Movers and Shakers
As per the World Bank estimates, the nominal world GDP in 2017 was approx. $80.2 trillion. In 2018, the nominal world GDP is estimated at approx. $85.8 trillion, up 6.9% from the previous year.
Based on the recent data from the World Bank, the United States has the largest economy in the world at approx. $20.49 trillion, up 5.4% from the previous year’s GDP of approx. $19.4 trillion. The second-largest economy is China’s at approx. $13.61, up 10% from the previous year’s GDP of approx. $12.2 trillion. Both combined made up for almost 40% of the total global GDP.
Japan, Germany, and the United Kingdom make up the rest of the top five countries with the largest GDPs at $4.97 trillion, $4 trillion, and $2.83 trillion (USD) respectively—and when added to the United States and China, the top five economies combined account for over 50% of the world economy.
Similarly, the top 15 economies together make up nearly 70% of the total global GDP.
Read more at Howmuch.net.
Desjardins, J. (2019, September 5). The $86 Trillion World Economy in One Chart. Retrieved from https://www.visualcapitalist.com/the-86-trillion-world-economy-in-one-chart/
El-Erian, M. A. (2019, August 9). Trade war is a distracting symptom of a deeper malaise in global economy. Retrieved from https://www.marketwatch.com/story/trade-war-is-a-distracting-symptom-of-a-deeper-malaise-in-global-economy-2019-08-09
HowMuch.Net. (2019, August 15). The World’s $86 Trillion Economy Visualized in One Chart. Retrieved from https://howmuch.net/articles/the-world-economy-2018
The International Monetary Fund. (2019, April). World Economic Outlook, April 2019: Growth Slowdown, Precarious Recovery. Retrieved from https://www.imf.org/en/Publications/WEO/Issues/2019/03/28/world-economic-outlook-april-2019