In 2016, world's nominal GDP was estimated at $75,213 billion by the International Monetary Fund, up by 2 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 2017, economic activity is projected to pick up the pace to grow by 5.7 and reach 2014 level with emerging markets being the main drivers of growth. In real terms, global GDP growth for 2017 is estimated at 3.4%, up from 3% in 2016.
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 3.21 percent in 2016, the lowest rate since the global financial crisis of 2009. In 2017, however, global economic growth is expected to recover to reach 3.62 percent according to the latest October's release of IMF World Economic Outlook.
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