statisticstimes

Gross World Product

SourceWorld Bank Nominal (current), Nominal (constant 2010), PPP (current), PPP (constant 2011)
Date08 Dec 2019

The gross world product (GWP) is the combined gross national product of all the countries in the world equals to the total global GDP.

World economy, comprising 193 economies, in 2019 is projected around of US$86.60 trillion in nominal terms, according to IMF. Global GDP in terms of PPP is forecasted around of Int$141.86 trillion. This number is 164% of nominal. PPP to Nominal ratio was 1.28 in 1990, all time lowest of 1.21 in 1995. But due to higher growth rate of developing economies, which have generally higher GDP in ppp terms, this ratio has increased.

During four years, world economy grew by over 6% with highest gdp growth rate of 6.7 percent in 1964. Lowest growth was in 2009 as gdp contracted by 1.7%, the only once when it shows negative growth.

In constant 2010 prices, which gives better idea about expansion over years, World economy has expanded from $11.39 tn in 1960 to $82.63 in 2018, or 7.25x on the basis of market exchange rate as estimated by world bank comprising more than 200 economies. In purchasing power parity terms, world gdp has expanded by 2.55 times since 1990, data for ppp terms available since.

Nominal : Highest increment in global wealth was seen in 2010 when it has grown by $2,710 bn approx at constant 2010 prices. In 2009, it was contracted by $1,086 bn, only year in which economy was declined. At current prices, maximum increment was in year 2011 of $7.32 tn, while biggest decline was in 2015 ($4.29 tn). Figure moved to downward direction in six years.

PPP : Biggest incline and decline was in 2010 and 2009, respectively at constant 2011 prices. At current prices, figure didn't move to downward direction, even in 2009 it moved up by $825 bn.

Acc to World factbook, composition of Agriculture, Industry, and Services sector in 2017 are 6.4 percent, 30 percent and 63 percent, respectively.

GDP (nominal) of world
GDP (nominal) of world thumbnail
Nominal
GDP (ppp) of world
GDP (ppp) of world thumbnail
PPP
GDP growth rate of world
GDP growth rate of world thumbnail
Growth
Estimates by World Bank
Year GDP Nominal (billions of $) GDP PPP (billions Int. $) Growth (%)
CurrentConstant (2010) CurrentConstant (2011)
19601,370.7711,394.00---
19611,428.2411,890.80--4.360
19621,533.4312,553.80--5.576
19631,651.2513,208.80--5.217
19641,809.5714,089.10--6.665
19651,970.2614,872.30--5.559
19662,137.4415,735.30--5.803
19672,274.7716,429.90--4.414
19682,454.0417,445.00--6.178
19692,702.3818,510.80--6.110
19702,967.1319,191.20--3.676
19713,277.4720,024.50--4.342
19723,780.0121,171.00--5.726
19734,607.3022,548.60--6.507
19745,313.8122,999.20--1.998
19755,916.1423,138.10--0.604
19766,436.6224,358.30--5.274
19777,280.0125,316.30--3.933
19788,570.9526,300.90--3.889
19799,958.9927,385.30--4.123
198011,219.7027,906.70--1.904
198111,616.5028,444.30--1.926
198211,507.4028,564.80--0.424
198311,739.6029,254.30--2.414
198412,172.6030,573.30--4.509
198512,786.9031,709.60--3.717
198615,109.5032,785.70--3.394
198717,186.3034,000.00--3.704
198819,226.7035,569.80--4.617
198920,068.9036,877.30--3.676
199022,603.2037,951.3029,015.7047,401.602.912
199123,942.4038,489.9030,479.0048,064.201.419
199225,425.9039,170.1031,868.4048,908.901.767
199325,838.2039,771.1033,420.6049,814.701.534
199427,753.1040,968.9035,248.4051,280.403.012
199530,865.1042,209.9037,243.2052,966.203.029
199631,549.4043,637.3039,444.6055,001.503.382
199731,436.0045,253.8041,707.5057,181.103.704
199831,367.3046,410.5043,315.9058,610.702.556
199932,529.4047,929.0045,460.1060,682.703.272
200033,581.6050,035.3048,818.3063,560.904.395
200133,382.4051,008.6051,145.9065,075.801.945
200234,669.3052,126.9053,637.3066,895.902.192
200338,899.9053,643.3056,633.7069,420.302.909
200443,811.8055,994.8061,214.2073,086.404.383
200547,459.1058,160.9065,975.3076,547.103.869
200651,442.7060,681.3072,236.2080,617.304.333
200757,968.7063,240.7078,223.5084,907.804.218
200863,616.1064,413.0082,832.5087,336.901.854
200960,340.1063,326.8083,657.3087,027.00-1.686
201066,036.9066,036.9089,109.0091,530.904.280
201173,357.4068,093.2095,148.1095,148.103.114
201275,045.7069,804.10100,242.0098,315.402.513
201377,189.6071,655.30105,809.00101,680.002.652
201479,296.1073,690.30111,251.00105,251.002.840
201575,003.1075,792.60116,001.00108,829.002.853
201676,102.8077,737.00121,367.00112,501.002.565
201780,891.3080,197.70128,718.00116,746.003.165
201885,804.4082,634.70136,040.00121,062.003.039
Projections by IMF
Year GDP (billions of $/Int. $) Growth (%)
NominalPPP
201986598.831141859.6253.013
202090519.608149533.6023.410
202195353.018157972.0963.555
2022100409.007166794.4953.557
2023105786.185176187.8283.607
2024111569.459186155.6793.619
Expansion in periods
Period GDP Nominal GDP PPP
CurrentConstantCurrentConstant
1960-19702.161.68--
1970-19803.781.45--
1980-19902.011.36--
1990-20001.491.321.681.34
2000-20101.971.321.831.44
2010-20181.301.251.531.32