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Gross world product: Difference between revisions

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Updated figures per current CIA World Factbook data
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Revision as of 19:48, 30 May 2013

Proportion of nominal GWP for the countries with the top 10 highest nominal 2010 GDP from 1980 to 2010, with IMF projections shown for 2011-2016. Countries marked with an asterisk are non-G8 countries. Grey lines show actual US dollar values.[1]

The gross world product (GWP) is the combined gross national product of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP).[nb 1] In 2012, the GWP totalled approximately US$83.12 trillion in terms of purchasing power parity (PPP), while the per capita GWP was approximately US$12,400.[2] In nominal terms, the total 2012 GWP was around US$71.83 trillion.[2]

Recent global growth

The table below gives recent percentage values for overall GWP growth through 2011, and estimates for 2012 and 2013, according to the International Monetary Fund (IMF)'s 2011 World Economic Outlook database. Data is given in terms of constant year-on-year prices, based on purchasing power parity.[3][4][5][6]

Economic growth rates (%)
Region 2006 2007 2008 2009 2010 2011 2012 (est.) 2013 (est.)
World 5.1 5.2 3.0 -0.5 5.3 3.9 3.5 3.9
Advanced economies 3.0 2.7 0.6 -3.4 3.2 1.6 1.4 1.9
Eurozone 2.9 2.7 0.7 -4.1 1.9 1.5 -0.3 0.7
USA 2.7 2.1 0.4 -2.6 3.0 1.7 2.0 2.3
Developing countries 7.9 8.3 6.0 2.8 7.5 6.2 5.6 5.9

Historical and prehistorical estimates

Average annual GWP growth rate from 1,000,000 BCE to 2011. 2011 GWP adjusted with CPI data.

In 1998, J. Bradford DeLong of the Department of Economics, U.C. Berkeley, estimated the total GWP in main years between one million years BCE and 2000 CE, as shown below.[7] The 2012 nominal GWP estimate is also shown according to the CIA World Factbook.[2] "Billion" in the table below refers to the short scale usage of the term, where 1 billion = 1,000 million = 109. Figures from 2000 and earlier are in 1990 international dollars, while the 2011 estimate is in 2011 U.S. dollars.

Year Nominal GWP (billions)
(figures are in 1990 international dollars, unless otherwise indicated)
2012 83,120 (in 2012 U.S. dollars; est. in 1990 Int.$: 49125.87[8][2])
2000 41,016.69
1995 33,644.33
1990 27,539.57
1985 22,481.11
1980 18,818.46
1975 15,149.42
1970 12,137.94
1965 9,126.98
1960 6,855.25
1955 5,430.44
1950 4,081.81
1940 3,001.36
1930 2,253.81
1925 2,102.88
1920 1,733.67
1900 1,102.96
1875 568.08
1850 359.90
1800 175.24
1750 128.51
1700 99.80
1650 81.74
1600 77.01
1500 58.67
1400 44.92
1340 40.50
1300 32.09
1250 35.58
1200 37.44
1100 39.60
1000 35.31
900 31.68
800 25.23
700 23.44
600 20.86
500 19.92
400 18.44
350 17.93
200 18.54
14 17.50
1 18.50
200 BCE 17.00
400 BCE 16.02
500 BCE 13.72
800 BCE 9.72
1000 BCE 6.35
1600 BCE 4.36
2000 BCE 3.02
3000 BCE 1.59
4000 BCE 0.77
5000 BCE 0.51
8000 BCE 0.43
10,000 BCE 0.37
25,000 BCE 0.31
300,000 BCE 0.09
1,000,000 BCE 0.01

See also

Notes

  1. ^ See measures of national income and output for more details.

References

  1. ^ "World Economic Outlook database". IMF. 2012. Retrieved 28 November 2012.
  2. ^ a b c d "World". CIA World Factbook. 10 April 2013. Retrieved 17 April 2013.
  3. ^ Economic growth in major economic powers. IMF. World Economic Outlook. October 2009. Retrieved 28 January 2013.
  4. ^ World Economic Outlook Databases – archives. IMF. Retrieved 28 January 2013.
  5. ^ "IMF more upbeat on world economy". BBC. 26 January 2010. Retrieved 16 November 2012.
  6. ^ World Economic Outlook Update: Mild Slowdown of the Global Expansion, and Increasing Risks. IMF. 16 July 2012.
  7. ^ Estimating World GDP, One Million B.C. – Present. J. Bradford DeLong. 24 May 1998. Retrieved 5 February 2013.
  8. ^ [=REALGDP MeasuringWorth Real GDP (Note: International Dollar = USD relative to US GDP)
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