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Global economy - Statistics & Facts

The global gross domestic product (GDP), i.e. the total value of all goods and services manufactured and produced in one year, amounted to approximately 80 trillion U.S. dollars in 2017. Among the states with the highest gross domestic product, the United States ranked first with over 19 trillion U.S. dollars, followed by China, Japan, and Germany. According to a forecast for 2030, this ranking is about to be shaken up significantly. Emerging countries, such as the BRIC states of China, India, Russia and Brazil, are growing faster than the industrialized states. In total, global economic growth amounted to about 3.74 percent in 2017 – an increase from 3.27 percent in 2016.

However, if we compare gross domestic product with the number of inhabitants and take a look at GDP per capita, the industrialized states are significantly more developed than the emerging countries. Luxembourg, Switzerland and the semi-autonomous region of Macao have the highest GDP per capita worldwide as of 2017, while South Sudan, Burundi, and Malawi lead the ranking of the countries with the lowest GDP per capita that same year. On average, global GDP per capita amounted to approximately 10,714 U.S. dollars in 2017.

In 2017, nearly 200 million people were unemployed worldwide, equating to a global unemployment rate of approximately 5.5 percent. Among the world regions with the highest unemployment rates are the Euro area and the Arab World, both with an unemployment rate of more than 9 percent.

The global inflation rate was at 3.2 percent in 2017. 2017, Consumer prices are increasing most significantly in Venezuela and South Sudan, while the lowest inflation rates were reported from Chad, Saudi Arabia, and Togo, all of which suffered from dangerous levels of deflation.

The leading exporting country in 2017 was China, with exports worth about 2.3 trillion U.S. dollars, followed by the United States and Germany. The ranking of the leading importing countries, however, sees the United States at the top, followed by China and Germany.

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Global economy

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