In 2017, world's nominal GDP was estimated at $79,866 billion by the International Monetary Fund, up by 6 percent from the previous year. So, global economy starts to rebound from a 5.7% decline of 2015. Moreover, according to IMF's World Economic Outlook, in 2018, economic activity is projected to pick up the pace to grow by 9.6 and reach level with emerging markets being the main drivers of growth. In real terms, global GDP growth for 2018 is estimated at 3.9%, up from 3.8% in 2017.
Looking at GDP dynamics from 1980 to 2017 allows understanding the cyclical position of the world economy. For example, it can be clearly seen that 2008 was the very difficult period during which world economy experienced a reduction of 1%.
World's real GDP grew by 3.76 percent in 2017, the lowest rate since the global financial crisis of 2009. In 2018, however, global economic growth is expected to recover to reach 3.94 percent according to the latest October's release of IMF World Economic Outlook.
Take a look at other GDP-related dashboards:
Access and compare forecasts for more than 50 indicators related to countries' macroeconomic conditions. Or, use our Forecast Accuracy Tracking Tool™ to assess the historic quality of forecasts from international institutions.