Economy

A conventional way to describe an economy is to analyze the key economic indicators, such as the Gross Domestic Product (GDP), exports, imports, and so on. The global GDP amounts to more than 140 trillion international dollars, of which 20 trillion international dollars are generated by the United States. As the world's economic leader, the United States shapes global trade, and for more than a century, the U.S. has been the country with the largest GDP, the world's leading importer, and the second leading exporter in the world, after China. In 2010, China overtook Japan as the world's second largest economy, as a result of an incredibly fast climb to the top.

World's largest GDP
United States
World's largest GDPs by 2024
China. United States, India
New entry among world's largest economies
Indonesia

COVID-19 impact on the world

The pandemic's effect on GDP
Forecasted global real Gross Domestic Product (GDP) growth due to the coronavirus (COVID-19) from 2019 to 2022
Further details: Visit original statistic

A particular focus has been dedicated to the impact of COVID-19 on the global economy, with data showing regional and global overviews. The global economy has been hard hit by the coronavirus pandemic. Since the outbreak of COVID-19, different estimates on the GDP growth based on different scenarios have been released. Recent data depict a negative growth during the past year for all major global economies, with the exception of China.

Overview of global economy
COVID-19 impact on the global economy
Economy of Europe

Economic forecasts

China's shift over the years
Forecasted real Gross Domestic Product (GDP) growth of G20 countries due to the coronavirus (COVID-19), from 2019 to 2021
Further details: Visit original statistic

By 2024, the ranking of the world's largest economy might look different than today. According to recent estimations, China will be the largest economy in the world, overtaking the United States earlier than previously forecasted. Germany and France will lose economic power, but still remain among the ten leading global players. Eventually, Italy will no longer be among economic giants, and a new name could appear in the top ten: Indonesia.

China's Economic Outlook
United States' Economic Outlook
Japan's Economic Outlook

Industry Definition

The branch Economy provides key economic indicators of more than 150 countries worldwide. Among others, this includes data on GDP, industrial production, consumer prices, exports and imports, as well as business enterprises. Moreover, a wide range of data on employment covers different factors such as hourly earnings, average wages, economic inactivity, and jobs.

More interesting topics from the industry "Economy"

More interesting topics from the industry "Economy"

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