The gross world product (GWP) is the combined
gross national income
The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign ...
of
all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global
gross domestic product
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is of ...
(GDP).
[See ]measures of national income and output
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted nat ...
for more details. According to the
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...
, the 2013 nominal GWP was approximately 75.59 trillion
United States dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...
s.
[ In 2017, according to the ]CIA
The Central Intelligence Agency (CIA ), known informally as the Agency and historically as the Company, is a civilian foreign intelligence service of the federal government of the United States, officially tasked with gathering, processing, ...
's ''World Factbook
''The World Factbook'', also known as the ''CIA World Factbook'', is a reference resource produced by the Central Intelligence Agency (CIA) with almanac-style information about the countries of the world. The official print version is available ...
'', the GWP was around $80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollar
The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G-K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dolla ...
s in terms of purchasing power parity
Purchasing power parity (PPP) is the measurement of prices in different countries that uses the prices of specific goods to compare the absolute purchasing power of the countries' currencies. PPP is effectively the ratio of the price of a bask ...
(PPP).[ The ]per capita
''Per capita'' is a Latin phrase literally meaning "by heads" or "for each head", and idiomatically used to mean "per person". The term is used in a wide variety of social sciences and statistical research contexts, including government statistic ...
PPP GWP in 2017 was approximately 17,500 international dollar
The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G-K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dolla ...
s according to the ''World Factbook''.World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...
, the 2020 GWP in current dollars was approximately $84.705 trillion.
Recent growth
The table below gives recent percentage values for overall GWP growth from 2006 through 2020, as well as an estimate for 2021, according to the International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...
(IMF)'s World Economic Outlook database. Data is given in terms of constant year-on-year prices.
Historical and prehistorical estimates
In 1998, economic historian J. Bradford DeLong
James Bradford "Brad" DeLong (born June 24, 1960) is an economic historian who is a professor of economics at the University of California, Berkeley. DeLong served as Deputy Assistant Secretary of the U.S. Department of the Treasury in the Clint ...
estimated the total GWP in 1990 U.S. dollars for the main years between one million years BCE and 2000 CE (shown in the table below).[ "Billion" in the table below refers to the ]short scale
The long and short scales are two of several naming systems for integer powers of ten which use some of the same terms for different magnitudes.
For whole numbers smaller than 1,000,000,000 (109), such as one thousand or one million, the ...
usage of the term, where 1 billion = 1,000 million = 109.
See also
*List of countries by GDP (nominal)
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or go ...
*List of countries by GDP (PPP)
GDP (PPP) means gross domestic product based on purchasing power parity.
This article includes a list of countries by their forecast estimated GDP (PPP). Countries are sorted by GDP (PPP) forecast estimates from financial and statistica ...
*List of countries by real GDP growth rate
This article includes a lists of countries and dependent territories sorted by their real gross domestic product growth rate; the rate of growth of the value of all final goods and services produced within a state in a given year. The statistics ...
*World economy
The world economy or global economy is the economy of all humans of the world, referring to the global economic system, which includes all economic activities which are conducted both within and between nations, including production, consumptio ...
*World population
In demographics, the world population is the total number of humans currently living. It was estimated by the United Nations to have exceeded 8 billion in November 2022. It took over 200,000 years of human prehistory and history for th ...
Notes
References
External links
CIA data on GWP
in The World Factbook
''The World Factbook'', also known as the ''CIA World Factbook'', is a reference resource produced by the Central Intelligence Agency (CIA) with almanac-style information about the countries of the world. The official print version is availabl ...
IMF database
– contains continuously updated World Economic Outlook tables and reports
{{DEFAULTSORT:Gross World Product
Global economic indicators
Gross domestic product