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World economy

From Wikipedia, the free encyclopedia

For other uses, seeWorld Economy (disambiguation).
This article'sfactual accuracy isdisputed. Relevant discussion may be found on thetalk page. Please help to ensure that disputed statements arereliably sourced.(May 2025) (Learn how and when to remove this message)
World GDP per capita between 1500 and 2003
World economy

Theworld economy orglobal economy is theeconomy of all humans in the world, referring to the globaleconomic system, which includes all economic activities conducted both within and betweennations, includingproduction,consumption,economic management,work in general, financial transactions andtrade ofgoods and services.[1][2] In some contexts, the two terms are distinct: the "international" or "global economy" is measured separately and distinguished from national economies, while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange, the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from thegeography andecology of planetEarth.

It is common to limit questions of the world economy exclusively tohuman economic activity, and the world economy is typically judged inmonetary terms, even in cases in which there is no efficientmarket to help valuate certain goods or services, or in cases in which a lack of independent research, genuine data or government cooperation makes calculating figures difficult. Typical examples areillegal drugs and otherblack market goods, which by any standard are a part of the world economy, but for which there is, by definition, no legal market of any kind.

However, even in cases in which there is a clear and efficient market to establishmonetaryvalue, economists do not typically use the current or officialexchange rate to translate the monetary units of this market into a single unit for the world economy since exchange rates typically do not closely reflectworldwide value – for example, in cases where the volume or price of transactions is closely regulated by the government.

Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea ofpurchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms ofrealUnited States dollars oreuros. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's7.8 billion people (as of March 2020[update])[3][4] have most of their economic activity reflected in these valuations.

Until the middle of the 19th century, global output was dominated byChina andIndia. Waves of theIndustrial Revolution in Western Europe and Northern America shifted the shares to the Western Hemisphere. As of 2025, the following 20 countries and 2 collectives have reached an economy of at least US$2trillion byGross Domestic Product (GDP) in nominal orPurchasing Power Parity (PPP) terms:Brazil,Canada,China,Egypt,France,Germany,India,Indonesia,Italy,Japan,Mexico,Nigeria,Poland,South Korea,Russia,Saudi Arabia,Spain,Turkey, theUnited Kingdom, theUnited States, theEuropean Union and theAfrican Union.[5][6]

Between 1820 and 2000,global income inequality increased with almost 50%. However, this change occurred mostly before 1950. Afterwards, the level of inequality remained mostly stable. It is important to differentiate between between-country inequality, which was the driving force for this pattern, and within country inequality, which remained largely constant.[7] Global income inequality peaked approximately in the 1970s, when world income wasdistributed bimodally into "rich" and "poor" countries with little overlap. Since then, inequality has been rapidly decreasing, and this trend seems to be accelerating. Income distribution is now unimodal, with most people living in middle-income countries.[8]

In the 2000s, a study by theWorld Institute for Development Economics Research atUnited Nations University found that the richest 1% of adults owned 40% of global assets, and that the richest 10% of adults accounted for 85% of the world total. The bottom half of the world adult population owned barely 1% of global wealth.Oxfam International reported that the richest 1 percent of people owned 48 percent of global wealth As of 2013[update],[9] and would own more than half of global wealth by 2016.[10] In 2014, Oxfam reported that the 85 wealthiest individuals in the world had a combined wealth equal to that of the bottom half of the world's population, or about 3.5 billion people.[11][12][13][14][15]

Despite high levels ofgovernment investment, the global economy decreased by 3.4% in 2020 in the midst of theCOVID-19 pandemic,[16] an improvement from theWorld Bank's initial prediction of a 5.2 percent decrease.[17] Cities account for 80% of globalGDP, thus they faced the brunt of this decline.[18][19] The world economy increased again in 2021 with an estimated 5.5 percent rebound.[20]

Overview

[edit]

World economy by country groups

[edit]
Country groupList of country groups by GDP (nominal) in 2025 (or at peaked level)List of country groups by GDP (PPP) in 2025 (or at peaked level)Number of countriesMajor economies
Value
(in millions of US$)		Share of Global GDPValue
(in millions of US$)		Share of Global GDP
Emerging and developing Asia
(Continents: Asia and Oceania)		27,821,01723.8%73,419,08035.1%30 China
 India
 Indonesia
 Thailand
 Vietnam
 Bangladesh
 Malaysia
 Philippines
Major advanced economies (G7)
(Continents: Europe, North America and Asia)		52,056,75944.4%58,959,13028.2%7 United States
 Japan
 Germany
 France
 United Kingdom
 Italy
 Canada
Other advanced economies
(advanced economies excluding the G7)
(Continents: Europe, Asia, Oceania and North America)		16,541,86014.1%22,701,83110.9%35 South Korea
 Spain
 Taiwan
 Australia
 Netherlands
 Switzerland
 Singapore
 Belgium
 Ireland
 Sweden
Emerging and developing Europe
(Continents: Europe and Asia)		6,463,0425.5%16,081,4717.7%15 Russia
 Turkey
 Poland
 Romania
 Ukraine
Middle East andCentral Asia
(Continents: Asia and Africa)		5,200,6324.4%15,492,2327.4%32 Saudi Arabia
 Egypt
 Iran
 Pakistan
 United Arab Emirates
 Kazakhstan
 Algeria
Latin America and theCaribbean
(Continents: South America and North America)		7,000,6866.0%14,894,5197.1%33 Brazil
 Mexico
 Argentina
 Colombia
Sub-Saharan Africa
(Continent: Africa)		2,081,399
(peaked at 2,224,418 in 2022)		1.8%7,408,0193.6%45 Nigeria
 South Africa
World117,165,394100.0%208,956,282100.0%197

World economy by continent

[edit]
Main article:List of continents by GDP § Continents by GDP (nominal)
GDP sector composition (2019 estimate)[21][22]
ContinentAgriculturalIndustrialService
World7,908.26038,354.36381,575.461
Asia5,105.36220,858.54932,939.397
North America292.4675,008.59418,426.200
Europe838.1998,175.40220,598.902
South America539.5102,014.1405,024.223
Africa1,076.6901,941.0373,559.579
Oceania56.032356.6411,027.160

Current world economic league table of largest economies in the world by GDP and share of global economic growth

[edit]
The 30 largest economies by GDP (nominal), GDP (PPP), the highest peak GDP per capita (nominal) and the highest peak GDP per capita (PPP) as of 2025. Members of theG-20 major economies are in bold.
List of the 30 largest economies
by GDP (nominal) at their peak level as of 2025 in million US$[5]		List of the 30 largest economies
by GDP (PPP) at their peak level as of 2025 in million Int$[5]		List of the 30 economies by highest
GDP (nominal) per capita at their peak level as of 2025 in US$[23]		List of the 30 economies by highest
GDP (PPP) per capita at their peak level as of 2025 in Int$[24][25]
RankCountryValuePeak year
—World[26]117,165,3942025
1 United States30,615,7432025
— European Union[26]21,096,7802025
2 China19,231,7052025
3 Japan[27]6,272,3632012
4 Germany5,013,5742025
5 India4,125,2132025
6 United Kingdom3,958,7802025
7 France3,361,5572025
—African Union[28]3,191,0522022
8 Brazil[29]2,616,1562011
9 Italy2,543,6772025
10 Russia2,540,6562025
11 Canada2,283,5992025
12 South Korea1,942,3142021
13 Spain1,891,3712025
14 Mexico1,862,7402025
15 Australia1,829,5082025
16 Turkey1,565,4712025
17 Indonesia1,443,2562025
18 Netherlands1,320,6352025
19 Saudi Arabia1,268,5352025
20 Poland1,039,6192025
21 Switzerland1,002,6662025
22 Taiwan884,3872025
23 Nigeria811,1342014
24 Iran722,1302011
25 Belgium716,9802025
26 Ireland708,7712025
27 Argentina683,3712025
28 Sweden662,3182025
29 Israel610,7522025
30 Norway596,2982022
RankCountryValuePeak year
—World[26]208,956,2822025
1 China41,015,8242025
2 United States30,615,7432025
— European Union[26]29,239,7542025
3 India17,714,1862025
—African Union[30]11,579,3932025
4 Russia7,143,0932025
5 Japan6,758,2312025
6 Germany6,153,7412025
7 Indonesia5,015,7622025
8 Brazil4,973,3852025
9 France4,533,6332025
10 United Kingdom4,454,7162025
11 Turkey[31]3,767,2302023
12 Italy3,720,2712025
13 Mexico3,436,9302025
14 South Korea3,363,4192025
15 Spain2,828,5102025
16 Canada2,722,7952025
17 Saudi Arabia2,688,5202025
18 Egypt2,381,5072025
19 Nigeria2,254,1672025
20 Poland2,019,7802025
21 Taiwan1,990,2682025
22 Australia1,981,6722025
23 Iran1,878,8922025
24 Thailand1,853,7712025
25 Vietnam1,807,0502025
26 Bangladesh1,782,1052025
27 Pakistan1,671,3812025
28 Netherlands1,516,6632025
29 Argentina1,490,1642025
30 Malaysia1,478,1392025
RankCountryValuePeak year
1 Monaco256,5812023
2 Liechtenstein231,7132025
3 Luxembourg146,8182025
4 Bermuda138,9352024
5 Ireland129,1322025
6 Switzerland111,0472025
7 Norway109,2702022
8 Qatar108,4702012
9 Iceland98,1502025
10 Cayman Islands97,7502023
11 Singapore94,4812025
12 Isle of Man94,3002021
13 United States89,5992025
14 Macau88,3112014
15 San Marino79,1102008
16 Denmark76,5812025
17Channel IslandsChannel Islands74,5892023
18 Netherlands73,1742025
19 Faroe Islands71,7742023
20 Australia68,4812012
21 Sweden62,0362025
22 Austria61,6942025
23 Belgium60,4182025
24 Israel60,0092025
25 Germany59,9252025
26 Greenland58,4992023
27 Brunei58,0051980
28 Hong Kong56,8442025
29 United Kingdom56,6612025
30 Canada56,3582022
RankCountryValuePeak year
1 Monaco270,1002024
2 Liechtenstein210,6002024
3 Qatar180,9392012
4 Singapore156,9692025
5 Luxembourg152,3952025
6 Macau149,7942013
7 Ireland147,8782025
8 Norway123,1502022
9 Bermuda119,7192024
10 United Arab Emirates104,9952006
11 Switzerland97,6592025
12 Brunei94,4722025
13 Guyana94,1892025
14 Kuwait91,4352007
15 United States89,5992025
16 Cayman Islands86,6892023
17 Taiwan85,1272025
18 Denmark84,7632025
19 Isle of Man[32]84,6002014
20 Netherlands84,5662025
21 San Marino82,8862025
22 Iceland80,4662025
23 Hong Kong78,9192025
24 Greenland78,8412023
25 Malta78,7112025
26 Faroe Islands78,1652023
27 Belgium75,8822025
28 Andorra74,9392024
29 Austria74,8522025
30 Saudi Arabia74,6682025

Twenty largest economies in the world by nominal GDP

[edit]
Main article:List of countries by past and projected GDP (nominal)
The following is a list of the twenty largest economies by nominal GDP at peak value as of the specific year, according to theInternational Monetary Fund.[5]
Rank19801985199019952000200520102015202020252030
1 United States United States United States United States United States United States United States United States United States United States United States
2 Japan Soviet Union Japan Japan Japan Japan China China China China China
3 Soviet Union Japan Soviet Union Germany Germany Germany Japan Japan Japan Japan India
4 West Germany West Germany West Germany France United Kingdom United Kingdom Germany Germany Germany Germany Japan
5 France France France United Kingdom France China United Kingdom United Kingdom United Kingdom India Germany
6 United Kingdom United Kingdom United Kingdom Italy Italy France France France France United Kingdom United Kingdom
7 Italy Italy Italy Brazil China Italy Italy Brazil India France France
8 China Canada Iran China Brazil Canada Brazil Italy Brazil Brazil Italy
9 Canada China Canada Iran Canada Spain Russia Russia Italy Italy Canada
10 Mexico Mexico Spain Spain Mexico South Korea India India Russia Russia Russia
Rank19801985199019952000200520102015202020252030
11 Argentina Argentina China Canada Iran Mexico Spain Canada Canada Canada Brazil
12 Spain India Brazil South Korea Spain Brazil Canada Spain South Korea South Korea Mexico
13 Netherlands Spain Australia Russia South Korea India Australia Australia Spain Mexico Spain
14 India Brazil Netherlands Mexico Russia Russia South Korea South Korea Australia Spain Australia
15 Saudi Arabia Iran India Netherlands India Australia Mexico Mexico Mexico Australia South Korea
16 Australia Australia Mexico Australia Netherlands Iran Netherlands Turkey Indonesia Turkey Indonesia
17 Brazil Netherlands South Korea India Australia Netherlands Turkey Netherlands Turkey Indonesia Turkey
18 Sweden Saudi Arabia Switzerland Switzerland Switzerland Turkey Indonesia Indonesia Netherlands Netherlands Netherlands
19 Belgium Nigeria Sweden Argentina Argentina Switzerland Iran Nigeria Saudi Arabia Saudi Arabia Saudi Arabia
20 Switzerland Sweden Argentina Belgium Taiwan Sweden Switzerland Saudi Arabia Nigeria Poland Poland

Twenty largest economies in the world by GDP (PPP)

[edit]
List of twenty largest economies by GDP based onpurchasing power parity at peak value as of the specific year according to theInternational Monetary Fund and theCIA World Factbook.[5][33]
Rank19801985199019952000200520102015202020252030
1 United States United States United States United States United States United States United States United States China China China
2 Soviet Union Soviet Union Soviet Union Japan China China China China United States United States United States
3 Japan Japan Japan China Japan Japan India India India India India
4 West Germany West Germany West Germany Germany Germany India Japan Japan Japan Russia Russia
5 Italy Italy Italy Russia India Germany Germany Germany Germany Japan Japan
6 France France France India Italy Russia Russia Russia Russia Germany Germany
7 United Kingdom United Kingdom China Italy France France Brazil Brazil France Indonesia Indonesia
8 Brazil Brazil United Kingdom France United Kingdom Italy France United Kingdom Brazil Brazil Brazil
9 Mexico Mexico India Brazil Russia United Kingdom United Kingdom France United Kingdom France France
10 India India Brazil United Kingdom Brazil Brazil Italy Indonesia Indonesia United Kingdom United Kingdom
Rank19801985199019952000200520102015202020252030
11 Spain China Mexico Mexico Mexico Mexico Indonesia Italy Italy Turkey Turkey
12 Saudi Arabia Spain Spain Indonesia Indonesia Indonesia Mexico Mexico Mexico Italy Italy
13 Canada Canada Canada Spain Spain Spain South Korea Turkey South Korea Mexico Mexico
14 China Saudi Arabia Indonesia Saudi Arabia Canada South Korea Spain South Korea Turkey South Korea South Korea
15 Argentina Indonesia Turkey Canada South Korea Canada Saudi Arabia Saudi Arabia Spain Spain Saudi Arabia
16 Poland Iran Saudi Arabia South Korea Saudi Arabia Saudi Arabia Iran Spain Canada Canada Spain
17 Netherlands Turkey Iran Turkey Turkey Iran Canada Canada Saudi Arabia Saudi Arabia Egypt
18 Iran Argentina South Korea Iran Iran Turkey Turkey Iran Egypt Egypt Canada
19 Indonesia Netherlands Netherlands Ukraine Netherlands Australia Nigeria Nigeria Nigeria Nigeria Nigeria
20 Turkey Australia Australia Thailand Australia Thailand Australia Thailand Iran Poland Bangladesh

Statistical indicators

[edit]
This section'sfactual accuracy may be compromised due to out-of-date information. Please help update this article to reflect recent events or newly available information.(September 2020)

Finance

[edit]
Countries or territories by GDP (PPP)per capita in 2021.
  >$60,000
  $50,000 – $60,000
  $40,000 – $50,000
  $30,000 – $40,000
  $20,000 – $30,000
  $10,000 – $20,000
  $5,000 – $10,000
  $2,500 – $5,000
  $1,000 – $2,500
  <$1,000
  No data
Countries bytotal wealth (trillions USD), Credit Suisse
  • GDP (GWP) (gross world product): (purchasing power parity exchange rates) – $110.06 trillion (2025 estimate)[5], $117.165 trillion (2023) . The GWP is the combined gross national income of all the countries in the world. When calculating the GWP, add GDP of all countries. Also, GWP shows that imports and exports are equal. Because imports and exports balance exactly when considering the whole world,[34] this also equals the total global gross domestic product (GDP).
  • GDP (GWP) (gross world product):[35] (market exchange rates) – $60.69 trillion (2008). The market exchange rates increased from 1990 to 2008. The reason for this increase is the world's advancement in terms of technology.
  • GDP[36] (real growth rate): The following part shows the GDP growth rate and the expected value after one year.
    • Developed Economies. A developed country, industrialized country, more developed country (MDC), or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. The GDP of the developed countries is predicted to fall from 2.2% in 2017 to 2.0% in 2018 due to the fall in dollar value.
    • Developing Countries. A developing country is a country with a less developed industrial base (industries) and a low Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. A nation's GDP per capita, compared with other nations, can also be a reference point. In general, the United Nations accepts any country's claim of itself being "developing". The GDP of the developing countries is expected to rise from 4.3% in 2017 to 4.6% in 2018 due to political stability in those countries and advancement in technology.
    • Least developed countries. The least developed countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971. This is a group of countries that are expected to improve their GDP from 4.8% in 2017 to 5.4% in 2018. The predicted growth is associated advancement in technology and industrialization of those countries for the past decade.
  • GDP – per capita: purchasing power parity – $9,300, €7,500 (2005 est.), $8,200, €6,800 (92) (2003), $7,900, €5,000 (2002)
  • Worldmedian income: purchasing power parity $1,041, €950 (1993)[37]
  • GDP – composition by sector: agriculture: 4%; industry: 32%; services: 64% (2004 est.)
  • Inflation rate (consumer prices); In economics, inflation is a general rise in the price level in an economy over a period of time, resulting in a sustained drop in the purchasing power of money. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time.national inflation rates vary widely in individual cases, from declining prices inJapan to hyperinflation (In economics, hyperinflation is very high and typically accelerating inflation) in severalThird World countries (2003):
  • Derivatives OTC outstanding notional amount: $601 trillion (Dec 2010) ([1])
  • Derivatives exchange traded outstanding notional amount: $82 trillion (June 2011) ([2])
  • Globaldebt issuance: $5.187 trillion, €3 trillion (2004), $4.938 trillion, €3.98 trillion (2003), $3.938 trillion (2002) (Thomson Financial League Tables)
  • Globalequity issuance: $505 billion, €450 billion (2004), $388 billion. €320 billion (2003), $319 billion, €250 trillion (2002) (Thomson Financial League Tables)

Employment

[edit]
WorldGDP per capita between 1500 and 2000 (log scale)
WorldGDP per capita between 1500 and 2003
GDP increase, 1990–1998 and 1990–2006, in major countries
  • Unemployment rate: 8.7% (2009 est.). 30% (2007 est.) combined unemployment andunderemployment in many non-industrialized countries; developed countries typically 4%–12% unemployment.

Industries

[edit]
  • Industrial production growth rate: 3% (2002 est.)

Energy

[edit]
Global primary energy consumption, measured in terawatt-hours (TWh) per year
Further information:World energy supply and consumption andEnergy development
  • Yearlyelectricity – production: 21,080,878 GWh (2011 est.),[39] 15,850,000 GWh (2003 est.), 14,850,000 GWh (2001 est.)
  • Yearly electricity – consumption: 14,280,000 GWh (2003 est.), 13,930,000 GWh (2001 est.)
  • Oil – production: 79,650,000 bbl/d (12,663,000 m3/d) (2003 est.), 75,460,000 barrels per day (11,997,000 m3/d) (2001)
  • Oil – consumption: 80,100,000 bbl/d (12,730,000 m3/d) (2003 est.), 76,210,000 barrels per day (12,116,000 m3/d) (2001)
  • Oil – proved reserves: 1.025 trillion barrel (163 km3 (39 cu mi) (2001 est.)
  • Natural gas – production: 3,366 km3 (808 cu mi) (2012 est.),[40] 2,569 km3 (616 cu mi) (2001 est.)
  • Natural gas – consumption: 2,556 km3 (613 cu mi) (2001 est.)
  • Natural gas – proved reserves: 161,200 km3 (38,700 cu mi) (1 January 2002)

Cross-border

[edit]
  • Yearly exports: $12.4 trillion, €11.05 trillion (2009 est.)
  • Exports – commodities: the whole range of industrial and agricultural goods and services
  • Exports – partners: US 12.7%, Germany 7.1%, China 6.2%, France 4.4%, Japan 4.2%, UK 4.1% (2008)
  • Yearly imports: $12.29 trillion, €10.95 trillion (2009 est.)
  • Imports – commodities: the whole range of industrial and agricultural goods and services
  • Imports – partners: China 10.3%, Germany 8.6%, US 8.1%, Japan 5% (2008)
  • Debt – external: $56.9 trillion, €40 trillion (31 December 2009 est.)

Gift economy

[edit]

Communications

[edit]

Telephones – main lines in use: 843,923,500 (2007)
4,263,367,600 (2008)

Transport

[edit]
See also:Transport § Economic, andCategory:Transport infrastructure

Transportation infrastructure worldwide includes:

  • Airports
    • Total: 41,821 (2013)[44]
  • Roadways
    • Total: 32,345,165 km (20,098,354 mi)
    • Paved: 19,403,061 km (12,056,503 mi)
    • Unpaved: 12,942,104 km (8,041,851 mi) (2002)
  • Railways
    • Total: 1,122,650 km (697,580 mi) includes about 190,000 to 195,000 km (118,000 to 121,000 mi) of electrified routes of which 147,760 km (91,810 mi) are in Europe, 24,509 km (15,229 mi) in theFar East, 11,050 km (6,870 mi) in Africa, 4,223 km (2,624 mi) in South America, and 4,160 km (2,580 mi) in North America.[dubious –discuss]

Military

[edit]
  • World military expenditure in 2018: estimated to $1.822 trillion[45]
  • Military expenditures – percent ofGDP: roughly 2% of gross world product (1999).
Military spending, top 25 countries by %GDP, 2024[46]
Country% GDP spent on military
Ukraine
34.5
Israel
8.8
Algeria
8.0
Saudi Arabia
7.3
Russia
7.1
Myanmar
6.8
Oman
5.6
Armenia
5.5
Azerbaijan
5.0
Kuwait
4.8
Jordan
4.8
Burkina Faso
4.7
Mali
4.2
Poland
4.2
Burundi
3.8
Brunei
3.6
Morocco
3.5
United States
3.4
Estonia
3.4
Colombia
3.4
Latvia
3.3
Greece
3.1
Lithuania
3.1
Chad
3.0
Kyrgyzstan
3.0
Military spending, top 25 countries byPPP, 2024[47][48]
Country$billions spent on military
United States
997
China
567
Russia
401
India
308
Ukraine
183
South Korea
96
Germany
99
Japan
91
France
91
United Kingdom
86
Brazil
64
Poland
62
Italy
60
Turkey
59
Indonesia
47
Colombia
43
Mexico
40
Spain
39
Australia
31
Canada
31
Netherlands
21
Philippines
21
Romania
21
Greece
17
Malaysia
14

Science, research and development

[edit]
See also:List of sovereign states by research and development spending,Economics of science, andInnovation
Number of scientific or technical journal article publications per million residents as of 2013.

TheRoyal Society in a 2011 report stated that in terms ofnumber of papers the share of English-language scientific research papers the United States was first followed by China, the UK, Germany, Japan, France, and Canada.[49] In 2015,research and development constituted an average 2.2% of theglobal GDP according to theUNESCO Institute for Statistics.[50] Metrics and rankings of innovation include theBloomberg Innovation Index, theGlobal Innovation Index and theshare of Nobel laureates per capita.

Resources and environment

[edit]
See also:Primary sector of the economy,Sustainable development,Economic impacts of climate change,Environmental resource management § Economics,Planetary management,Agriculture,Overexploitation,Overconsumption, andEcosystem service
Further information:2021 in the environment and environmental sciences § International goals
Shown is how the global material footprint and global CO2 emissions from fossil-fuel combustion and industrial processes changed compared with global GDP.[51]
The period since 1950 has brought "the most rapid transformation of the human relationship with the natural world in the history of humankind".[52] Through 2018, humans have reduced forest area by ~30% and grasslands/shrubs by ~68%, to make way for livestock grazing and crops for humans.[53]
  • Forests (carbon sinks,wood,ecosystem services, ...)
    • Estimated number of trees that are net lost annually as of 2021: 10 billion[54][55]
    • Global annual deforested land in 2015–2020: 10 million hectares
    • Global annual net forest area loss in 2000–2010 : 4.7 million hectares[56]
  • Otherland degradation and land- and organisms-related ecosystem disturbances
    • Soils (carbon sink, ecosystem services, food production, ...)
      • Soil erosion by water in 2012: almost 36 billion tons (based on a high resolution global potential soil erosion model developed in 2017)[57]
      • Estimated annual loss of agricultural productivity due to soil erosion: 8 billion US dollars (based on the soil erosion data)[58]
      • Soil erosion by water in 2015: approximately 43 billion tons (according to a 2020 study)[59]
      • Environmental impact of pesticides
        • Pesticide use in tonnes of active ingredient in Australia in 2016: ca. 62,500 tonnes[60]
  • Oceans (ecosystem services, food production, ...):Blue economy
  • Waste andpollution (effects of economic mechanisms, effects on ecosystem services)
    • As of 2018, about 380 million tonnes of plastic is produced worldwide each year. From the 1950s up to 2018, an estimated 6.3 billion tonnes of plastic has been produced worldwide, of which an estimated 9% has been recycled and another 12% has been incinerated with the rest reportedly being "dumped in landfills or the natural environment".[61]
    • Air pollution
      • Number of human deaths caused annually by air pollution worldwide: ca. 7 million[62][63][64]
      • Estimated global annual cost of air pollution: $5 trillion[65][66][67]
    • Microplastic pollution
      • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2014: 15 to 51 trillion particles, weighing between 93,000 and 236,000 metric tons[68]
      • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2020: 3700 microplastics per cubic meter[68]
This list isincomplete; you can help byadding missing items.(September 2020)

From the scientific perspective, economic activities are embedded in a web of dynamic, interrelated, and interdependent activities that constitute the naturalsystem of Earth. Novel application ofcybernetics indecision-making (such as in decision-making related to process- and product-design and related laws) and direction of human activity (such as economic activity) may make it easier to control modern ecological problems.[69]

Historical development

[edit]
Further information:History of globalization andBroad measures of economic progress
Shift of the world's economic center of gravity since 1980 and projected until 2050[70]
Estimations of world population andGDP from a 2020 research paper[71]
YearPopulation
(million)		GDP per capita
($1990 in PPP)		GDP in billion
($1990 in PPP)
1000000 BCE0.1254000.05
300000 BCE14000.40
25000 BCE3.344001.34
10000 BCE44001.60
5000 BCE54042.02
4000 BCE74092.87
3000 BCE144215.90
2000 BCE2743311.7
1000 BCE5044422.2
500 BCE10045745.7
200 BCE15046569.7
116846778.4
20019046388.0
40019046388.0
50019046388.0
60020046292.3
70021046096.6
800220459101
900240456109
1000265453120
1100320512164
1200360551198
1300360551198
1400350541190
1500438625274
1600556629350
1700603658397
18201,042712741
18701,2768841,128
19001,563
19131,7931,5432,767
19201,863
19402,2992,1815,013
19502,5282,1045,318
19603,0422,76412,170
19703,6913,72513,751
19804,4404,51120,026
19905,2695,14927,133
20006,0776,05736,806
20106,8737,81453,704
20197,6209,66373,640

Per the MSCI All Country World Index, the breakdown of market sector is as follows:[72]

Sector20122022
Energy10.74.4
Materials8.25.5
Industrials11.510.6
Consumer Discretionary11.211.7
Consumer Staples9.46.6
Healthcare8.811.6
Financials19.514.4
Information Technology13.121.2
Communication Service4.07.5
Utilities3.62.9
Real Estate3.6

One example for a comparable metric other than GDP are theOECD Better Life Index rankings for different aggregative domains.

Legend
  Explained by: Housing
  Explained by: Income
  Explained by: Jobs
  Explained by: Community
  Explained by: Education
  Explained by: Environment
  Explained by: Civic engagement
  Explained by: Health
  Explained by: Life Satisfaction
  Explained by: Safety
  Explained by: Work-Life Balance
OECD Better Life Index rankings for 2016
Overall Rank
[73]		CountryHousingIncomeJobsCommunityEducationEnvironmentCivic engagementHealthLife SatisfactionSafetyWork-Life Balance
1 Norway
2 Australia
3 Denmark
4 Switzerland
5 Canada
6 Sweden
7 New Zealand
8 Finland
9 United States
10 Iceland
11 Netherlands
12 Germany
13 Luxembourg
14 Belgium
15 Austria
16 United Kingdom
17 Ireland
18 France
19 Spain
20 Slovenia
21 Czech Republic
22 Estonia
23 Japan
24 Slovakia
25 Italy
26 Israel
27 Poland
28 South Korea
29 Portugal
30 Latvia
31 Greece
32 Hungary
33 Russia
34 Chile
35 Brazil
36 Turkey
37 Mexico
38 South Africa

The index includes 11 comparable "dimensions" of well-being:[74]

  1. Housing:housing conditions and spendings (e.g.real estate pricing)
  2. Income:household income (after taxes and transfers) and net financial wealth
  3. Jobs:earnings,job security andunemployment
  4. Community: quality ofsocial support network
  5. Education: education and what one gets out of it
  6. Environment: quality of environment (e.g.environmental health)
  7. Governance: involvement indemocracy
  8. Health
  9. Life Satisfaction: level ofhappiness
  10. Safety: murder and assault rates
  11. Work-life balance

Economic studies

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To promote exports, many government agencies publish on the web economic studies by sector and country. Among these agencies include theUSCS (US DoC) andFAS (USDA) in the United States, theEDC andAAFC in Canada,Ubifrance in France, theUKTI in the United Kingdom, theHKTDC andJETRO in Asia,Austrade and theNZTE in Oceania. Through Partnership Agreements, the Federation of International Trade Associations publishes studies from several of these agencies (USCS, FAS, AAFC, UKTI, and HKTDC) as well as other non-governmental organizations on its website globaltrade.net.

See also

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Regional economies:

Events:

Lists:

References

[edit]
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