According to the International Monetary Fund, in 2012, world’s GDP rose by 2.1% to USD 71.707 trillion. The world’s largest economies are United States, China, Japan, Germany, France, United Kingdom, Brazil, Russia, Italy, India, Canada, Australia, Spain, Mexico, Korea and Indonesia.
Figure 1 shows dynamics of world’s GDP at current prices in 1980-2018.
The IMF forecasts that, in 2018, world’s GDP will reach record high USD 97,599trillion.
According to the IMF, top ten largest economies, in 2012, are United States – USD 15,685 trillion, China – USD 8,227 trillion, Japan – USD 5,964 trillion, Germany – USD 3,401 trillion, France – USD 2,609 trillion, United Kingdom – USD 2,441 trillion, Brazil – USD 2,396 trillion, Russia – USD 2,022 trillion, Italy – USD 2,014 trillion and India – USD 1,825 trillion (Figure 2).
The second ten countries are Canada – USD 1,819 trillion, Australia – USD 1,542 trillion, Spain – USD 1,352 trillion, Mexico – USD 1,177 trillion, Korea – USD 1,156 trillion, Indonesia – USD 878,198 billion, Turkey – USD 794,468 billion, the Netherlands – USD 773,116 billion, Saudi Arabia – USD 727,307 billion and Switzerland – USD 632,400 billion.
In 2012, gross domestic product of advanced economies amounted USD 44,417 trillion; euro area – USD 12,198 trillion; major advanced economies (G7) – USD 33,932 trillion; advanced economies excluding G7 and euro area – USD 6,307 trillion; European Union – USD 16,584 trillion; emerging market and developing economies – USD 27,290 trillion; Central and Eastern Europe – USD 1,845 trillion; Commonwealth of Independent States – USD 2,659 trillion; Developing Asia – USD 12,325 trillion; ASEAN-5 – USD 1,936 trillion; Latin America and the Caribbean – USD 5,766 trillion; Middle East, North Africa, Afghanistan, and Pakistan – USD 3,423 trillion and Sub-Saharan Africa – USD 1,273 trillion.
In 2012, the ten smallest economies of the world are St. Vincent and the Grenadines – USD 712 million, Samoa – USD 683 million, Comoros – USD 600 million, Dominica – USD 497 million, Tonga – USD 476 million, Micronesia – USD 327 million, São Tomé and Príncipe – USD 264 million, Marshall Islands – USD 182 million, Kiribati – USD 173 million and Tuvalu – USD 37 million.
Some changes to the April 2013 Database:
Projections for Cyprus are excluded due to the ongoing crisis and economic uncertainty;
Data for the Micronesia and Marshall Islands are now included in the Developing Asia region;
As in the October 2012 World Economic Outlook, data for Syria are excluded for 2011 onward due to the political conflict. In 2010, the GDP of Syria amounted USD 59,957 billion.
Author: analyst Alexander Mukha
Source: BusinessForecast.by