Gross world product
 | This article needs to be updated. (November 2024) |
The gross world product (GWP), also known as gross world income (GWI),[1] is the combined gross national income (previously, the "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] According to the World Bank, the 2013 nominal GWP was approximately 75.59 trillion United States dollars.[2] In 2017, according to the CIA's World Factbook, the GWP was around $80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP).[3] The per capita PPP GWP in 2017 was approximately 17,500 international dollars according to the World Factbook.[3] According to the World Bank, the 2020 GWP in current dollars was approximately $84.705 trillion.[4]
Recent growth
[edit]The table below gives recent percentage values for overall GWP growth from 2006 through 2020, as well as an estimate for 2021, according to the International Monetary Fund (IMF)'s World Economic Outlook database. Data is given in terms of constant year-on-year prices.[5]
| Region | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| World average | 5.4 | 5.6 | 3.1 | -0.1 | 5.4 | 4.3 | 3.5 | 3.4 | 3.5 | 3.4 | 3.3 | 3.8 | 3.6 | 2.8 | -3.1 | 5.9 |
Historical and prehistorical estimates
[edit]In 1998, economic historian J. Bradford DeLong estimated the total GWP in 1990 U.S. dollars for the main years between one million years BCE and 2000 CE (shown in the table below).[6]
Estimates from 2000 onwards are based on world GDP, PPP estimates in 2021 constant international dollars from the World Bank and subsequently converted to 1990 US$.[7][8] "Billion" in the table below refers to the short scale usage of the term, where 1 billion = 1,000 million = 109.
| Year | Real GWP ($ billions, 1990 Intl$) |
Compound annual growth rate |
|---|---|---|
| 2020 CE | 70,320.48[7][8] | 3.43% |
| 2015 CE | 63,461.60[7][8] | 5.55% |
| 2010 CE | 53,752.07[7][8] | 5.70% |
| 2005 CE | 45,325.58[7][8] | 6.05% |
| 2000 CE | 37,820.35[7][8] | 3.91% |
| 1995 CE | 33,644.33 | 4.09% |
| 1990 CE | 27,539.57 | 4.14% |
| 1985 CE | 22,481.11 | 3.62% |
| 1980 CE | 18,818.44 | 4.43% |
| 1975 CE | 15,149.42 | 4.53% |
| 1970 CE | 12,137.94 | 5.87% |
| 1965 CE | 9,126.98 | 5.89% |
| 1960 CE | 6,855.25 | 4.77% |
| 1955 CE | 5,430.44 | 5.88% |
| 1950 CE | 4,081.81 | 3.12% |
| 1940 CE | 3,001.36 | 2.91% |
| 1930 CE | 2,253.81 | 1.4% |
| 1925 CE | 2,102.88 | 3.94% |
| 1920 CE | 1,733.67 | 2.29% |
| 1900 CE | 1,102.96 | 2.69% |
| 1875 CE | 568.08 | 1.84% |
| 1850 CE | 359.90 | 1.45% |
| 1800 CE | 175.24 | 0.62% |
| 1750 CE | 128.51 | 0.51% |
| 1700 CE | 99.80 | 0.40% |
| 1650 CE | 81.74 | 0.12% |
| 1600 CE | 77.01 | 0.27% |
| 1500 CE | 58.67 | 0.27% |
| 1400 CE | 44.92 | 0.21% |
| 1350 CE | 40.50 | 0.47% |
| 1300 CE | 32.09 | -0.21% |
| 1250 CE | 35.58 | -0.10% |
| 1200 CE | 37.44 | -0.056% |
| 1100 CE | 39.60 | 0.11% |
| 1000 CE | 35.31 | 0.11% |
| 900 CE | 31.68 | 0.23% |
| 800 CE | 25.23 | 0.074% |
| 700 CE | 23.44 | 0.12% |
| 600 CE | 20.86 | 0.046% |
| 500 CE | 19.92 | 0.077% |
| 400 CE | 18.44 | 0.056% |
| 350 CE | 17.93 | -0.022% |
| 200 CE | 18.54 | 0.031% |
| 14 CE | 17.50 | -0.427% |
| 1 CE | 18.50 | 0.042% |
| 200 BCE | 17.00 | 0.030% |
| 400 BCE | 16.02 | 0.155% |
| 500 BCE | 13.72 | 0.115% |
| 800 BCE | 9.72 | 0.213% |
| 1000 BCE | 6.35 | 0.063% |
| 1600 BCE | 4.36 | 0.092% |
| 2000 BCE | 3.02 | 0.064% |
| 3000 BCE | 1.59 | 0.073% |
| 4000 BCE | 0.77 | 0.041% |
| 5000 BCE | 0.51 | 0.0057% |
| 8000 BCE | 0.43 | 0.0075% |
| 10,000 BCE | 0.37 | 0.0012% |
| 25,000 BCE | 0.31 | 0.00045% |
| 300,000 BCE | 0.09 | 0.00031% |
| 1,000,000 BCE | 0.01 | – |
See also
[edit]- List of countries by GDP (nominal)
- List of countries by GDP (PPP)
- List of countries by real GDP growth rate
- World economy
- World population
Explanatory notes
[edit]- ^ See measures of national income and output for more details.
References
[edit]- ^ [1]
- ^ "Gross Domestic Product 2014" (PDF). The World Bank DataBank. 2015. Retrieved 1 July 2015.
- ^ a b "World Factbook". CIA World Factbook. 24 July 2019. Retrieved 24 July 2019.
- ^ "GDP (current US$) | Data". data.worldbank.org. Retrieved 2021-09-15.
- ^ "World Economic Outlook, October 2020: A Long and Difficult Ascent". World Economic Outlook. International Monetary Fund. 2020.
- ^ J. Bradford DeLong (24 May 1998). "Estimating World GDP, One Million B.C. – Present". Retrieved 5 February 2013.
- ^ a b c d e f "GDP, PPP (constant 2021 international $)". World Bank Group. Retrieved 20 June 2024.
- ^ a b c d e f "2021 dollars in 1990 | Inflation Calculator". www.in2013dollars.com. Retrieved 2024-06-20.
External links
[edit]- CIA data on GWP in The World Factbook
- IMF database – contains continuously updated World Economic Outlook tables and reports