Gross World Product

SourceWorld Bank Nominal (current), Nominal (constant 2010), PPP (current), PPP (constant 2017)
Date25 Dec 2020

The gross world product (GWP) is the combined gross national product of all the countries in the world equals to the total global GDP.

The world economy, comprising 194 economies, in 2020 is projected around US$83.84 trillion in nominal terms, according to the IMF. This figure is almost $4 trillion less than compared to 2019. Global GDP in terms of PPP is forecasted around Int. $130.19 trillion, Int. $9.6 trillion down compared to 2019. This number is 155% of nominal. PPP to Nominal ratio was the all-time lowest of 1.21 in 1995. But due to the higher growth rate of developing economies, which have generally higher GDP in ppp terms, this ratio has increased.

The global economy is expected to contract by 4.4% in 2020 before growing by 5.2% in 2021. During four years, the world economy grew by over 6%, with the highest gdp growth rate of 6.7 percent in 1964. The lowest growth was in 2009 as gdp contracted by 1.67%, the only once when it showed negative growth.

In constant 2010 prices, which gives a better idea about expansion over the years, the World economy has expanded from $11.36 tn in 1960 to $84.99 in 2018 or 7.48x based on the market exchange rate as estimated by the world bank comprising more than 200 economies. In purchasing power parity terms, world gdp has expanded by 2.55 times since 1990.

Nominal: Highest increment in global wealth was seen in 2010 when it has grown by $2,726 bn approx at constant 2010 prices. In 2009, it was contracted by $1,079 bn, the only year in which the global economy was declined. At current prices, the maximum increment was in the year 2011 of $7.34 tn, while the biggest decline was in 2015 ($4.25 tn). The figure moved in the downward direction in six years.

PPP: Biggest incline and decline were in 2010 and 2009, respectively, at constant 2011 prices. At current prices, the figure didn't move in a downward direction; even in 2009, it moved up by $812 bn.

  • Nominal
  • PPP
  • Growth (%)

Projections by IMF

Year GDP (billions of $/Int. $) Growth (%)
NominalPPP
202083844.988130186.703-4.359
202191031.168139824.2605.152
202296704.364148207.6484.189
2023102252.400156619.5713.836
2024107808.455165339.4543.628
2025113481.787174433.7223.517

Estimates by World Bank

Year GWP Nominal (billions of $) GWP PPP (billions Int. $) Growth (%)
CurrentConstant (2010) CurrentConstant (2017)
19601,370.5411,355.90---
19611,425.7811,848.70--4.339
19621,530.0612,499.40--5.492
19631,648.2913,168.30--5.352
19641,805.6614,052.70--6.716
19651,966.2614,824.60--5.493
19662,133.3315,675.00--5.736
19672,270.9416,385.80--4.535
19682,451.4317,428.00--6.361
19692,704.6318,499.80--6.150
19702,960.8619,167.50--3.609
19713,273.2919,999.90--4.343
19723,777.5321,145.00--5.725
19734,609.0922,520.40--6.505
19745,315.8622,969.30--1.993
19755,920.2223,107.40--0.601
19766,438.0824,325.40--5.271
19777,277.4425,282.40--3.934
19788,584.5026,266.70--3.893
19799,971.1427,350.20--4.125
198011,227.6027,870.60--1.903
198111,623.8028,406.10--1.922
198211,514.5028,528.90--0.432
198311,747.0029,217.30--2.413
198412,179.9030,532.70--4.502
198512,793.3031,665.70--3.711
198615,118.5032,741.90--3.399
198717,201.0033,956.40--3.709
198819,244.1035,524.80--4.619
198920,087.4036,831.30--3.678
199022,626.4037,905.3029,298.6051,012.502.916
199123,966.6038,446.6030,875.5051,677.001.428
199225,452.9039,126.4032,285.6052,500.301.768
199325,857.9039,724.8033,696.2053,380.901.529
199427,770.7040,916.7035,515.8054,901.103.000
199530,886.6042,153.2037,521.2056,629.403.022
199631,572.6043,581.7039,736.5058,753.203.389
199731,458.1045,182.9042,022.0061,017.903.674
199831,393.3046,337.9043,430.6062,533.002.556
199932,561.8047,843.1045,572.7064,725.503.248
200033,618.6049,940.9048,937.3067,749.204.385
200133,426.6050,920.0051,277.5069,322.801.960
200234,709.8052,031.1053,755.3071,212.202.182
200338,944.8053,573.1056,771.2073,882.302.964
200443,867.1055,934.3061,370.3077,631.804.407
200547,517.2058,124.2066,128.5081,184.703.915
200651,502.0060,669.9072,399.1085,375.204.380
200758,031.5063,293.1078,386.9089,800.004.324
200863,675.6064,466.2083,010.5092,199.501.853
200960,395.5063,387.1083,822.8091,579.40-1.674
201066,113.1066,113.1089,276.2096,195.104.301
201173,448.3068,189.3095,121.9099,923.903.140
201275,146.0069,905.60100,090.00103,086.002.517
201377,302.0071,767.10105,006.00106,475.002.663
201479,450.8073,810.60108,990.00110,128.002.847
201575,198.8075,935.80111,348.00113,822.002.879
201676,335.8077,904.10115,697.00117,513.002.592
201781,229.2080,445.30122,013.00121,949.003.262
201886,409.0082,937.90129,251.00126,366.003.098
201987,751.5084,990.60135,670.00130,073.002.475