GDP is the single most commonly referenced figure to cover the entirety of a national economy and the trajectory it is on in a single statistic. Measured annually, quarterly, or monthly, trends in GDP for a single country or comparisons among peer countries are often called out in popular press, sometimes with alarmist tones that can make one wonder why or how this single data point has taken on such importance. This is particularly the case in a world increasingly focused on measuring well-being, governance, and environmental and natural resource depletion, all of which are explicitly or implicitly excluded from standard GDP measures. In an era of open data, GDP as a singular golden indicator could fade ever so slowly to make room for other unique measures that will only become increasingly easier to develop and maintain as improvements are made in global data access. For now, however, enjoy the below series of country rankings by GDP or explore visualizations for other GDP-related indicators supplied by the World Bank and the IMF.
You may also be interested in economic forecasts for the G20 countries across the following indicators:
Note: Purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the US dollar (US$) most commonly used as the base or “numeraire” currency" - Global Purchasing Power Parities and Real Expenditures, 2005 International Comparison Program, World Bank.
What are the leading international institutions expecting in the years ahead for the world’s economies? How will demographic profiles shift by world region? Which countries are at the precipice of becoming world-scale natural resource producers? Explore global forecasts with Knoema!