Gross world product

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The gross world product (GWP) is the combined 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] In 2013, according to the CIA's World Factbook, the GWP totalled approximately US$87.25 trillion in terms of purchasing power parity (PPP), and around US$74.31 trillion in nominal terms.[1] According to a separate estimate by the World Bank, the 2013 nominal GWP was approximately US$75.59 trillion.[2] The per capita PPP GWP in 2014 was approximately US$16,100 according to the World Factbook.[1]

Recent GWP growth[edit]

The table below gives regional percentage values for overall GWP growth through 2014, as well as an estimate for 2015, according to the International Monetary Fund (IMF)'s World Economic Outlook database. Data is given in terms of constant year-on-year prices.[3]

GWP growth rate (%)
Region 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 (est.)
World average 5.5 5.7 3.1 0 5.4 4.2 3.4 3.4 3.4 3.5
Advanced economies 3.1 2.8 0.2 -3.4 3.1 1.7 1.2 1.4 1.8 2.4
Eurozone 3.2 3 0.5 -4.5 2 1.6 -1 0 0.9 1.5
Developing countries 8.2 8.7 5.8 3.1 7.4 6.2 5.2 5 4.6 4.3

Historical and prehistorical estimates[edit]

Average annual GWP growth rate from 1,000,000 BCE to 2011. 2011 GWP adjusted with CPI data.

In 1998, J. Bradford DeLong of the Department of Economics, U.C. Berkeley, estimated the total GWP in 1990 U.S. dollars for main years between one million years BCE and 2000 CE, as shown below.[4] Nominal GWP estimates from 2005 onwards are also shown in contemporary U.S. dollars, according to estimates from the CIA World Factbook and the World Bank.[1] "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
2014 AD 77,868[2]
2010 AD 62,220 (est. 41,090 in 1990 U.S. dollars)[5]
2005 AD 43,070 (est. 31,300 in 1990 U.S. dollars)[citation needed]
2000 AD 41,016.69 4.04%
1995 AD 33,644.33 4.09%
1990 AD 27,539.57 4.14%
1985 AD 22,481.11 3.62%
1980 AD 18,818.46 4.43%
1975 AD 15,149.42 4.53%
1970 AD 12,137.94 5.87%
1965 AD 9,126.98 5.89%
1960 AD 6,855.25 4.77%
1955 AD 5,430.44 5.88%
1950 AD 4,081.81 3.12%
1940 AD 3,001.36 2.91%
1930 AD 2,253.81 1.4%
1925 AD 2,102.88 3.94%
1920 AD 1,733.67 2.29%
1900 AD 1,102.96 2.69%
1875 AD 568.08 1.84%
1850 AD 359.90 1.45%
1800 AD 175.24 0.62%
1750 AD 128.51 0.51%
1700 AD 99.80 0.40%
1650 AD 81.74 0.12%
1600 AD 77.01 0.27%
1500 AD 58.67 0.27%
1400 AD 44.92 0.21%
1350 AD 40.50 0.47%
1300 AD 32.09 -0.21%
1250 AD 35.58 -0.10%
1200 AD 37.44 -0.056%
1100 AD 39.60 0.11%
1000 AD 35.31 0.11%
900 AD 31.68 0.23%
800 AD 25.23 0.074%
700 AD 23.44 0.12%
600 AD 20.86 0.046%
500 AD 19.92 0.077%
400 AD 18.44 0.056%
350 AD 17.93 -0.022%
200 AD 18.54 0.031%
14 AD 17.50 -0.427%
1 AD 18.50 0.042%
200 BC 17.00 0.030%
400 BC 16.02 0.155%
500 BC 13.72 0.115%
800 BC 9.72 0.213%
1000 BC 6.35 0.063%
1600 BC 4.36 0.092%
2000 BC 3.02 0.064%
3000 BC 1.59 0.073%
4000 BC 0.77 0.041%
5000 BC 0.51 0.0057%
8000 BC 0.43 0.0075%
10,000 BC 0.37 0.0012%
25,000 BC 0.31 0.00045%
300,000 BC 0.09 0.00031%
1,000,000 BC 0.01

See also[edit]

Notes[edit]

  1. ^ See measures of national income and output for more details.

References[edit]

  1. ^ a b c "World". CIA World Factbook. 2015. Retrieved 17 January 2015. 
  2. ^ a b "Gross Domestic Product 2014" (PDF). The World Bank DataBank. 2015. Retrieved 1 July 2015. 
  3. ^ http://www.imf.org/external/pubs/ft/weo/2015/01/weodata/weorept.aspx?pr.x=28&pr.y=2&sy=2006&ey=2015&scsm=1&ssd=1&sort=country&ds=.&br=1&c=001%2C110%2C163%2C200&s=NGDP_RPCH&grp=1&a=1
  4. ^ J. Bradford DeLong (24 May 1998). "Estimating World GDP, One Million B.C. – Present". Retrieved 5 February 2013. 
  5. ^ "1990 Real GDP". MeasuringWorth.com. Retrieved 25 November 2013. 

External links[edit]